Here’s a staggering fact: Millennials (Gen Y) make up the largest generation in the current workforce. This has impacted the way organizations run their workspaces in a way that skews towards technology, collaboration, and flexibility.
This being said, companies need to change the way they conduct relocation practices. According to an article in SHRM, the majority of HR managers report that millennials are the hardest generation to relocate as they don’t see relocation as a priority and have different requirements and goals in mind.
As relocation is crucial in retaining top talent and company culture in a new area, we’ll take a look at some of the best practices you can conduct in order to relocate your younger, vibrant employees.
Give Them More Autonomy.
A stark contrast between millennials and the generations before them is their preference towards being in control. They want their employers to cooperate with them rather than decide on all the details.
In the context of relocating, 78% prefer making the arrangements using their company’s stipend.
However, managing the logistics of relocation is no easy task, and dealing with the issues in mind can be a hassle for HR teams.
Organizations hire companies like ARC that provide industry-leading relocation services to guide employees throughout their movement. Employees are given the opportunity to set their preferences and have expert support whenever they require it.
Tailor Relocation Packages To Their Interests.
Millennials take pride in their emphasis on health and wellness. Seeing how they grew up in the age of information and social media, it’s no surprise that health and wellness came second after family in terms of what’s most important.
Unless you can offer an attractive relocation package, you don’t stand much chance in relocating your younger workforce. Here are some ideas you should consider:
- Comprehensive health insurance
- Memberships to health facilities
- Rewarding them for their effort rather than hours clocked
- Easy and free access to healthy snacks and meals in the workplace
- Flexible work hours
Within the spectrum of millennials, there are the early and late millennials. They belong within the same generation with overlapping values but may have different needs.
For example, early millennials are more mobile, energetic, yet they are ready to leave if they don’t feel valued. Their older counterparts are usually settling down, starting a family, and looking into becoming homeowners.
The more you can specify your benefits, the better your chances of retaining your workforce.
Provide Opportunities for Career Growth and Support.
Millennials are willing to relocate if there is an opportunity for career growth and development. They don’t want to be in the same position for the next few years and won’t think twice about job-hopping if they’re unsatisfied.
Offering them mentorship programs with industry experts and business leaders is a great way for them to remain loyal to the company. It’s a win-win situation for both parties as your employees will gain valuable knowledge and insight and they’ll be able to transfer this into your company’s overall productivity.