Relocation Packages: When To Consider Offering Them To Potential Hires

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It’s hard to overstate the importance of finding the right hires to fit your team dynamic and help meet the growing needs of your business. In some industries and geographical regions, however, locating highly qualified candidates who possess the right combination of skills and experience to fill specialized positions can be a real challenge at times. That’s where a willingness to cover relocation costs to pave the way for skilled hires can be a powerful way to bring new talent into the fold.

Here’s a look at five situations where offering relocation packages to prospective hires can help you overcome the hurdles of building your next dream team.

1) To instantly increase the size of your candidate pool.

If you want to attract a far broader range of top talent for hiring consideration, showing candidates you’re willing to go the extra distance to help bring them on board can help you land some amazing additions to your team right from the get-go. Sometimes it’s best to get ahead of things and expand your pool by putting the word out up-front that you’re willing to cover these expenses for the right candidates.

2) To ensure a smooth transition.

Even if you do find great potential long-distance hires who are willing to relocate on their own dime, it’s worth taking any steps you can to make their transition as seamless as possible. Covering the expenses and important details of relocation can reduce the inevitable stress that comes with upending one’s personal world. This can make the process of settling into a new role much easier on your new hire. Remember: you want them to hit the ground running at 100 percent rather than being exhausted from managing all the challenges of juggling relocation on their own.

3) To boost your chances of landing “the one”.

In those lucky moments when you identify an ideal hiring prospect — someone who comes well-qualified and loaded with exactly the skills and experience you’re after — it’s important to get them on your team before they have a chance to be nabbed by a competitor. Sweetening the deal with a relocation package can help you land your top candidates quickly, especially if they’re mulling over multiple offers that might be closer to home.

4) To make up make up for regional talent shortages.

What do you do when all the latest and greatest tech talent has already cleaned out in a recent regional hiring frenzy, leaving you with prospects that don’t quite fit your needs? Any competitive tech industry goes through its ups and downs when it comes to the availability of ideal candidates. Looking beyond your local pool of job seekers can be a boon in leaner hiring times, and offering good relocation options can be key component of attracting great candidates who may be outside of reasonable commuting distance.

5) To help during expansion into to new territories.

Expanding into new markets to grow your company inevitably means staffing-up to cover lots of key positions at the new location. When the goal is to get everything setup and running as quickly and efficiently as possible, anything you can do to streamline the hiring process can help. Offering relocation packages and others incentives to attract top talent to your new operation branch can be a perfect solution for upping your timetable without sacrificing on finding great hires.

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