Have you thought about how metrics within your relocation program can make you think about your program differently? What data are you tracking? How are you using that data to make decisions to improve your program? And how are you tracking the net result of the metrics you track? We looked at three metrics that can help identify success for your company.
- Employee Attraction due to Relocation Benefits
- Assignment Completion Rate
- Retention Post Assignment/Relocation
This week we cover how the importance of your employee finishing their assignment can impact your mobility program, in what is called the Retention Assignment/Relocation.
A majority of companies fail at retaining their employees’ long term after an assignment, which doesn’t lend well to a successful business model. What data can companies look at to help increase their assignment completion rate?
Your employee is considering moving on after their assignment, let’s look into a few reasons why that may be the case.
In instances where the completion of an assignment was considered to have failed, there is a possibility that there was lack of communication or a misunderstanding about the perceived benefits of the assignment. Often the company views the assignment as career growth, but the transferring employee can feel disconnected, especially upon return and unable to develop. The lack of being on the same page is a recipe for disaster. Not to mention, when the employee comes back from their assignment, their old job and duties likely have been backfilled or covered by a new employee, leaving your newly transferred employee feeling discouraged.
To avoid any major misunderstandings, take the time to walk your employee through the goals and projected outcomes of the assignment prior to their departure. This extra time and effort can help lead to a more successful line of open communication throughout your employee’s assignment and upon transitioning them back after completion.
An inefficient transition back into the office or back to an employee’s normal role can cause problems. There should be a solid plan in place for your employee when they arrive back after assignment. You can even get some more data on your program and processes by conducting an after-assignment survey, to see what parts of your program your employee enjoyed, and where there might be some additional room for improvements. Your plan for your employee should be to get them back to a position where they are either utilizing their new experience from their assignment or in a similar role to which they were in before taking the assignment. This is a good topic to discuss with your employee prior to them leaving for assignment, so that your company can work on the logistics and be ready for their return.
On-assignment support, or support your employees receive from your company or the relocation company through the duration of their assignment can go a long way in making sure that your employee feels comfortable in their new location. Things like, tenancy management, lease renewals, tax reporting, allowance payments and even visa renewal support are things to consider adding to your program.
To learn more on Odyssey’s on-assignment benefits for your transferring employee, click here.
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