Relocating Millennials isn't easy! Here are 4 common mistakes companies often fall into and how you can avoid them. Want to learn more? Download our eBook here: http://resources.urbanbound.com/mistakes-companies-make-relocating-millennials

1. 4 Relocation Mistakes You’re
Making with Millennials

2. Millennials aren’t
always easy.

3. And neither are their
relocations.

4. Fortunately, all you need
to do is offer a unique
level of support

5. And we know that it’s
easy to make mistakes

6. SO,
here are 4 common pitfalls
companies often fall into

7. Now you won’t be
one of them!

8. Mistake #1:
Assuming Millennials know what to expect

9. Think back to your
college years.

10. Moving in was a blast!
You had your friends,
family, and other
peers around you as
you excitedly
unpacked the van and
moved into your
dorm units together.

11. Unfortunately,
relocations are nothing
like that.

12. Your Millennials are used to
social atmospheres, and since
the first move after college can
be pretty isolating, try to
recreate that atmosphere!

13. “But how!? We
aren’t moving in
hundreds of
people at once”

14. Even if you’re
onboarding a small
group, introduce them!
Encourage them to talk,
share ideas, discuss
their first day, plan an
outing – anything to
encourage involvement
with one another.

15. Don’t forget to have
key questions answered
beforehand, too!

16. How should I divide my
lump sum?

17. What practices (dentist,
doctor, vet) should I join?

18. How much will it cost
to rent a furnished
apartment?

19. Should I ship my
furniture?

20. Is it worth the money
to bring my car?

21. Can I see my
apartment options
before I move in?

22. Mistake #2:
Allowing financial monitoring to take a backseat

23. March 3, 2014
Bank Account
Balance:
$4,048

24. March 4, 2014
Bank Account
Balance:
$18,048

25. With that new cash flow, relocating employees might be tempted to
spend their money on things other than relocation. They will be inclined
to take shortcuts and side step necessary processes in order to save
money. By co-mingling the lump sum with personal funds, they’ll feel a
personal attachment to it, thus less likely to fully commit to spending
their lump sum for relocation purposes.

26. What are your
other options?

27. Give them prepaid debit cards with
the lump sum amount already on it!
This will help employees keep
relocation expenses and personal
expenses separate.

28. Don’t forget to give them
guides on how much of
their lump sum should be
dedicated to certain areas!

29. Like this:

30. Mistake #3:
Trusting them to respect professional boundaries

31. It’s no surprise.
Millennials are talkative.

32. That being said, it’s a safe bet that the
relocation package one person received
is probably going to, at one point or
another, circulate around the office.

33. You have 2 options:

34. Stress that the relocation information is
private, and that their package is completely
confidential and not to be shared with peers.

35. While Millennials love to talk, they
do respect information that is
specified to be kept private. Just be
open and honest with them!

36. The other option?

37. Be completely transparent!
Provide all the information about how you
calculate various packages to all transferees.
They will understand that a relocation from
Dallas to Austin is going to be more expensive
from New York City to Austin, all
you need to do is communicate that and help
them understand where the numbers come from.

38. Keep in mind:
Provide fair relocation benefits! Of course
age and experience factor into the
calculation, but remember that people of the
same age may be moving to very different
parts of the country (or even the world), and
need to be compensated properly. Providing
enough assistance to cover the necessary
expenses will ensure that your Millennial
transferee stays happy and successful
throughout their relocation.

39. Mistake #4:
Underestimating the value of relocation

40. Your relocations are
valuable!

41. Unless you make it clear on your
website that you will relocate someone
if they are the right fit for your open
position, they likely won’t apply.

42. They’ll see that the
company is located
across the country
and immediately rule
out the possibility of
working there. You
could be losing
valuable talent!

43. Don’t be so secretive!
Boast about about your
program a bit – let people
know that you will do
whatever it takes to obtain
top talent at your company.

44. Pitch your relocation package during job fairs, on careers pages,
and in interviews. The more you present it as a benefit, the
more your prospect will see it as a plus side. Relocation
programs can set you apart from the rest, especially if moving is
the only thing holding the employee back from accepting.
Being open with your relocation benefits allows you to attract
talent from all over, rather than just in your own backyard.

45. Want to learn more?
Download our eBook below
detailing detail each of these
mistakes, including 2 bonus
mistakes!