Talent Acquisition and Relocation

In the past, companies had the upper hand in the hiring process. Today, however, employees hold the power and organizations must find ways to keep up with the quickly changing times. Companies have to reinvent the talent acquisition wheel to locate potential employees in today’s changing world and workforce. For many, conducting surveys is one of the best ways to predict the obstacles on the road ahead; talent acquisition is no exception.

To remain competitive, companies will have to consider becoming more open-minded about candidates, pay more money to attract employees, or offer more benefits. Relocation package benefits in particular are creating a lot of buzz. A recent poll conducted by Robert Half found that 62% of workers surveyed would consider moving for a position. In a sperate poll, it was found that 34% of companies surveyed increased their relocation-package offerings; this is more than one-third of companies. Responses were collected from more than 2,800 U.S. workers, from ages 18 and up. The senior executive director of Robert Half, Paul McDonald, stated that “In today’s competitive hiring environment, many employers are finding it challenging to locate skilled professionals in their immediate area. As a result, organizations are open to considering candidates in other cities and offering attractive relocation packages to secure that talent.”

When asking respondents why they would consider relocation, most answers stem back to better pay and improved perks (44%). Other factors include family or personal reasons (17%), and the cost of living and career advancement (16% each). McDonald stated that “Besides receiving corporate incentives to move, there are a number of professional and personal reasons workers opt for a change of scenery, including higher salary, better perks, more affordable cost of living or advanced job title.” Demographically, it was found that professionals ages 18-34 (76%) are more likely to relocate, compared to those ages 35-54 (62%) and 55 and older (40%).

The employee-controlled job market isn’t dying down anytime soon. Researchers and surveyors predict this trend to continue in 2019. According to a study done by ManpowerGroup North America, U.S. employers plan to grow their workforce over 20% every quarter in 2019, increasing the number of open positions. Offering relocation gives employers an opportunity to get ahead of the hiring curve.