HR Topics  Relocation Resources
High-Performance Corporate Relocations Prioritize Well-being at Work
Corporate relocations, on average, cost about $70,000 – $100,000 (U.S.) per employee. This depends upon whether home ownership is involved. How will that investment pay off? A strategy to maintain your employees’ well-being at work is critical to your success in managing mobility investments. Many employers measure the success of their mobility programs in conjunction with specific business goals – such as expanding their services and products into new geographic markets.
Or, success is measured in how well they fill talent gaps in order to compete and succeed. What are the risks if the corporate relocations fail? What if the employee quits prematurely? The stakes are high. Is your organization taking measures to mitigate those risks? Are you gauging your relocated employees’ well-being?
The Changing View on Well-being at Work
According to a Mercer Marsh Study, young employees view their health in more holistic terms. They seek benefits that extend beyond health care and address their well-being. This desire is a growing trend, as:
- 61% of employees say health is a bigger concern than wealth or career.1
- 1 in 2 employees want a greater focus on well-being at work.2
In addition, employees desire benefits for corporate relocations that address their practical, social, and professional needs. They are uprooting themselves and likely a family for a new location, after all. To ensure well-being at work during corporate relocations, employers must address the needs of whole person and the whole family. This extra care for everyone’s well-being doesn’t only benefit the employee – it also benefits your company.
Integration Assistance during Corporate Relocations Helps Drive Performance
Positive well-being at work leads to consistent and productive performance. A person’s well-being is improved when they feel connected (both socially and professionally) and are involved in things that interest them. Integration assistance addresses these needs.
Integration assistance is comprised of coaching and resources to implement a strategy to positively transition employees and families into a new community during corporate relocations. IMPACT Group’s research shows that integration assistance has a direct tie to boosting performance and well-being at work. In fact, when employees receive integration assistance, they report:
- 75% are highly engaged after the move
- 73% are more productive at work3
Another benefit for you: Companies with high employee morale significantly out-perform their peers in both bear and bull markets, as reported in the Mercer Marsh study.
Prioritizing Well-being at Work Enhances Trust & Retention
Duty of care is a key factor in building trust. In fact, high levels of trust will go a long way for your company. A Harvard Business Review study4 reports business-changing stats on this. Employees at high-trust companies report:
- 106% more energy at work
- 76% more engagement
- 74% less stress
- 50% higher productivity
- 40% less burnout
- 29% more satisfaction with their lives
- 13% fewer sick days
In addition, creating a focus on well-being reinforces your commitment to your employees. It also improves staff retention. Companies are already combating higher turnover rates during corporate relocations. Fulfilling your duty of care by acknowledging well-being increases the employee and family’s ability to feel at home again quickly. Likewise, it empowers them to process through change. When they fell settled and satisfied, they are more likely to stay with you.
Expand Your View of Wellness during Corporate Relocations
Well-being is essential to your employee experience. Benefits must align will all aspects of an employee’s life – especially during corporate relocations. To reduce turnover and to maximize the potential of your relocated employees, be sure to prioritize the whole person during relocations. Integration assistance enables you to do just that. Learn more here.
1 Global Talent Trends Study: Empowerment in a Disrupted World, Mercer, 2017
2 Global Talent Trends Study: Unlocking Growth in the Human Age, Mercer, 2018
3 People Perspective on Relocation Report, IMPACT Group, 2018
4 The Neuroscience of Trust, Harvard Business Review, 2017