Attract and Retain top talent
Your company’s mobility program isn’t instantly thought of as a way to attract or retain talent. You know there “might” be some correlation between the two but are not really sure of the critical data points you need to track to help get the insights you need.
By following three simple steps below, you can set your company on a clear path to aligning both Talent Acquisition and Talent Management. Odyssey can help gather these insights, navigate the data, and build/roll out a plan to ensure your company is seen as a talent leader.
STEP 1
UNDERSTANDING MOBILITIES IMPACT
Some of the important questions our team can help you strategize on are:
- Has your job acceptance rate increased, remained the same or decreased when offering pre-decision services?
- How many offers are declined because of the lack of, or insufficient relocation benefits?
- What is the job acceptance rate when a relocation package is included versus excluded?
- For employees you have relocated what is the average retention rate of new hires that go through a relocation program?
- How many of your relocated employees are considered “high potential” or get promoted?
- How long do employees stay at the company when they go on assignment? Do they stay longer or shorter than those that aren’t offered the opportunity?
STEP 2
IMPLEMENTING CHANGE AND REFINING THE EMPLOYEE EXPERIENCE
Once your strategy is determined and you have an initial starting point for your metrics, now you need to make some determinations on what changes to implement. You need to answer several important questions including:
- Do we need to offer pre-decision services to help the employee feel more confident and see the value in the benefits you are offering?
- Is it important to get insights into the employees’ unique needs, ensuring employees aren’t given benefits they don’t need or want while ensuring they get what they do need?
- How can we ensure that our Talent Acquisition group has the tools and education they need to effectively support relocation?
- Are there additional benefits you need to add to your program to address any gaps in employee needs?
STEP 3
ANALYZE AND FINALIZE
Now you have moved enough employees through your program for the results to be meaningfully significant. Analyzing the data to gather statistical insights and objective commentary becomes critical to finalizing your program. Questions to answer include:
- Is there a change in metrics (such as employee satisfaction) from the old program to the new program?
- Is there more perceived value to the program from employees?
- Would employees recommend relocation to other employees considering a move?
- What areas are there gaps or lack of benefit?
- Are there supplier adjustments that need to happen?
By following these simple steps you can set your company on a clear path to aligning Talent Acquisition and Management. Odyssey can help gather these insights, navigate the data, and build/roll out a plan to ensure your company is seen as a talent leader.
