PLAYROLL BLOG

Insights into global expansion & employee retention

Published: February 4, 2022

Move With the Times: Why You Should Implement a Talent Relocation Policy

With employee migration and resignation on the rise, employers have to come up with ways to retain their best talent even when they choose to relocate. Having a relocation policy in place sets the tone for flexibility and appeals to the modern-day employee.
Talen Relocation Policy | Global Employment

“What? Another policy?!” exclaimed the worn-down HR guru who has been readjusting and implementing new company guidelines for what seems like forever. But, fear not – we will walk you through why you need a relocation policy and how this set of regulations sets the tone for workplace transformation.

While many trends have come and gone, some like The Great Resignation and Employee Migration have proved that they are here to stay and that their drivers (employees) are in it for the long haul!

Although the drafting process can add more weight to HR’s all too wary shoulders, having a solid relocation policy sets clear guidelines and expectations, and lets employees know that you’ve got them covered no matter where life takes them.

What’s the Deal With Talent Relocation?

The Great Resignation was a wake-up signal to companies and showed that modern employees don’t settle!

The workplace is becoming more human, and employees expect more company support. They want to choose and not be handed a one-size-fits-all package defined by the organisation. Policies that promote flexibility are the new in-thing in the human era of employment.

But is another policy really necessary?

Well, look at it this way: a written policy sets clear guidelines and expectations. Employees will have the peace of mind of knowing that their jobs will be secure even if they decide to relocate. The relocation policy will also help to:

  • Outperform the competition and make your company more appealing to talent
  • Provide options for and support for employees who are relocating
  • Specify limitations
  • Detail relocation benefits
  • Outline wage adjustments to accommodate the cost of living in a new country

What are the Key Ingredients for a Good Relocation Policy?

While a relocation policy may be jazzed up with a few added benefits, the basics should be:

Time Frame

Not all relocations are permanent. Your relocation policy should specify if it is limited to a specific frame. The employee should also specify if their relocation is a long-term commitment or just a summer fling.

Documentation

HR practitioners can only wish that the process of employees relocating to another country was as simple as taking candy from a baby (anyone who’s tried this, knows this is not true!).

The relocation policy should outline the necessary work permits, visas, and other required paperwork needed for the onboarding process once an employee relocates.

Relocation Allowance

How far are you willing to go to retain your staff? Some companies offer a stipend or relocation allowance that covers some of the following costs:

  • Moving costs (Packing and unpacking services as well as shipping)
  • Temporary accommodation
  • Travel Costs (Fuel, bus fare, airfare etc.)
  • Lease termination fees
  • Service and subscription termination fees (internet, phone line etc.)
  • Storage fees

How to Sweeten the Relocation Deal

Spicing up your relocation policy is a great way to retain and attract talent. Here are some ways to pull it off.

Money talks

Offer possible payment adjustments in line with the cost of living of the country your employees are relocating to.

Technology

Equip your employees with the tech they will need to perform their duties remotely.

Make the process simple

Moving to a new location is a costly affair and can be pretty stressful and time-consuming to arrange everything necessary. But, offering financial and organisational support with issues like compliance goes a long way.

Employee migration is gaining momentum. Welcome to the human era! People want the option to move if they want to and don’t want to be bound to a place they are unhappy in out of fear that they might lose their job.

Gone are the days when relocation meant losing good employees. Now we live in a world where unrestricted interconnectivity exists, and technology makes it possible for you to manage your employees from any part of the world.

If the thought of drafting yet another policy has got you clenching your fists in frustration, worry not – we’ve got your back!

Playroll can help you navigate the often monotonous process of drafting policies, setting up entities for relocating employees and the hassle of local employment law compliance and employee classification in new countries.

As an Employer of Record (EoR) partner, we take on the role of the legal employer of your international entity and absorb responsibility for the employment relationships, payroll, benefits and HR.

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