How to Retain Your Best Employees During A Move
Your office is relocating. With that move will come new opportunities for expansion and customer service. To capitalize on this move fully, however, you want to be sure to take your top employees with you.
An office relocation is a significant life change for employees and their families, whether the move is to a nearby town or a new state. To retain your top employees, you’ll need to allay their fears and discomfort about the move and find ways to make the relocation advantageous for them.
Communicate Early
Let employees know that you are moving as far in advance as possible. Six months to a year provides them time to plan and process. After you make the general announcement, meet with each top employee to answer questions and understand their concerns. Train managers to listen to employee concerns as they come up and coach employees through aspects of the move.
Provide Incentives
The cost of replacing a top employee can range from 50 percent to 200 percent of that employee’s salary. Losing an employee also can affect the morale of other members of the team. Offering incentives to encourage employees to relocate, then, can be cost-effective.
One incentive is a relocation package. That package might include paying moving expenses, the cost of short-term housing, and job search assistance for the employee’s spouse or partner. It might also help sell the employee’s home, and one paid trip to search for housing in the new location.
Offering a pay raise or relocation bonus also can help ease any financial burdens of relocation.
Offer Helpful Information
An employee’s relocation challenges also can be eased with more information. Companies can provide data on child-care facilities and schools near the new workplace, transportation, and parking options. A list of restaurants, concert venues, and movie theaters can also help them know the new location.
Be Flexible
Be flexible about when employees must report to work at the new location. Once they report, consider flexible hours to allow them and their families to adjust to the new site.
Consider New Perks
Perhaps your new location can accommodate an on-premises gym or pet-friendly spaces. Or, consider offering yoga classes or massage on certain days. Announce that these perks will be available at the new office. Employees will know that you value them and their well-being.
Update Your Benefit Plans
Moving to a new location is also an excellent time to update your benefit plans. Research the benefits your competitors and other companies in the new city provide. To prevent losing your talented employees, ensure your benefits are at least as good.
Consider Remote Work
If, despite all the incentives, information, perks, benefits, and flexibility you offer, the employee still is unable to relocate, consider allowing them to work remotely. For most jobs, remote work is possible. Surveys show that both employees and their bosses see productivity gains when employees work remotely.
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