ST. LOUIS, June 22 /PRNewswire/ -- If there's one message that corporations and employees need to hear about relocation in 2010, it's "be ready." With this year's rise in activity related to mergers, acquisitions and restructuring comes an increase in the number of relocations to meet new business needs. In many cases, that means the relocation of entire departments and groups of employees. The newest white paper from Vandover (http://vandover.com), the leader in TalentMobility® solutions, and Runzheimer International (http://runzheimer.com), the leader in workforce mobility, outlines the strategy for communication, decision-making and family support required for corporate group moves.
According to a 2009 Human Capital Institute workforce mobility survey, 67% of corporate leaders report employees' reluctance to relocate, with family issues and the housing market topping the list of reasons why a candidate said no to a move. At the same time, 60-80% of executives surveyed report that the mobility of talent is mission critical to the success of the organization. These factors are causing a major shift from a transactional, one-size-fits-all approach to relocation in favor of a strategic and personalized support program which increases the odds for top talent to say yes to a move, and experience success in the new location.
In the case of a group move, concern and anxiety among employees is magnified. An employee's decision about a group move typically involves a number of concerns related to personal, spousal, family, financial, and career issues. In addition, concerns about the organization's long-term health and viability also come into question. Organizations concerned with the relocation and retention of their top employees provide support before, during, and after the relocation process, to help talent work through these issues, realizing that no two employees have the same needs.
While some may assume this approach simply seems like a "feel good" strategy for dealing with employees, it's actually based on risk management and return on investment measures. "With reluctance at an all-time high and an increase in group moves for 2010, the risks for corporations are rising," states Margery M. Marshall, president of Vandover. "Employers are beginning to realize how important it is to have a strategy in place to increase the chance of a successful group move and ensure the return on investment. Just one failed relocation can cost upwards of $1 million in hard costs – not to mention the loss of talent and failure to complete a critical business assignment. In the case of a group move, this figure is multiplied."
"Significant dollars and valuable talent can be at amplified risk during a group move," said Runzheimer International president, Greg Harper. "Success today requires a strategy that outlines business objectives, uses the most current geographic data and defines a support plan for employees."
As with any business change, the success of a group move begins with a specific strategy and ends with an analysis of that strategy that identifies improvement opportunities.
The complimentary new white paper from Vandover and Runzheimer titled, "The Group Move Balancing Act," can be downloaded at: http://www.vandover.com/group_move_balancing_act.pdf
About Runzheimer International
Founded in 1933, Runzheimer International serves 60 percent of the Fortune 500 and numerous government agencies. Recognized for providing innovative solutions relating to total employee mobility, Runzheimer is the global leader in workforce mobility programs including business vehicle, business travel, corporate aircraft, employee relocation and compensation, and virtual office. For more information, visit: www.runzheimer.com.
Vandover is the leader in providing complete TalentMobility™ solutions, serving employers worldwide as they recruit, retain, relocate, and sometimes release employees. Services include planning and policy development, decision-making support and coaching, lifestyle resource assistance, spouse/partner career assistance, outplacement, and survivor services. Vandover has been serving Fortune and Global 500 companies, government entities, and small to mid-sized organizations for nearly 25 years. For more information, call 800.822.7345 or go to www.vandover.com.
SOURCE Runzheimer International