As a small business owner, what type of relocation assistance should I provide new hires?

I've been hired into large companies and got various levels of assistance (financial, logistics, referred real estate, etc). When I went to smaller companies I got $$ but I was "on my own" on the service front.Is this typical? Thanks.

Asked by JG3 59 months ago Similar questions: small business owner type relocation assistance provide hires Business > Real Estate.

Similar questions: small business owner type relocation assistance provide hires.

As someone who's owned and worked at small business my entire life... As someone who's owned and worked at small business my entire life, I'd recommend considering a few factors:1. The better the companywide benefits you offer, the higher-caliber of employees you'll recruit and retain.2. Offering relocation benefits allows you to recruit from a nationwide audience of potential recruits.

Fewer out-of-town prospects will be interested in a job that doesn't offer relo benefits.3. But be conscious of how existing employees may perceive your actions if you offer relocation benefits to a new hire. For example, if you don't provide a 401(k) and/or health insurance, but you pay for a new hire's first month in temporary housing, you may have some PO'ed employees.4.

On the other hand, if your existing employees enjoy great benefits, they're less likely to feel as if a new hire (who hasn't already proven themself) is getting treated disproportionately better.5. What can your company afford to pay? And will the investment (relo benefits) ultimately pay for itself with better producing/higher-caliber employees?6.

Treat employees equally. Don't offer Manager A a reloc package if you don't plan to offer Manager B a relo package 6 months down the road. Manager B is likely to get wind of it, and that won't be a good thing!

Sources: My opinion .

If you want top talent for your organization - and that top talent lies outside of your local market - then a relocation package makes your job opening competitive and, in some cases, more compelling than others. It can also be a factor if you're in a market that's more expensive (the coasts, metro areas, etc.) or just plain uncompelling (middle of nowhere). Generally, you only want to offer relo assistance for hires where you can recoup your investment somewhat quickly - high-value (and that generally means higher-end) employees.

Does the guy applying for a job in the mailroom get a relo package?No. But your VP of Marketing candidate? Quite possibly.

There's no law or regulation that says you have to offer the same relo package to all candidates, so a flexible approach will serve you well and save you money.In my 20+ years of work, I've been offered relo packages as small as $1500 (to cover the cost of a moving van rental when I joined a small consulting firm a few states away) to $20,000 (when I joined a large company with a history of moving people around - they came, packed the house and the cars on a single truck, and took off, fully unpacking the house at the other end). In nearly every case, there was language that limited the company's exposure (no one gave me a blank check for moving) and required me to pay back a pro-rated portion of the costs if I left within two years. OK, all that's background.My actual advice?

It boils down to this: * Create relo packages on an as-needed basis for senior-level hires. If you're interested in them and they're interested in you, it'll come up during the interview process. Talk through their needs and see what can be arranged.

* Everyone gets a two-year, pro-rated reimbursement clause in their employment offer letter. * No one gets a full free ride - you want them to show commitment to the new job, so in no case do you cover all relo expenses. A lot of them?

Yes. Maybe most of them?Yes. All of them?No.

Hope this helps! Greg Sources: Twenty years of moving around. :) .

It is typical. If you want to stand out, develop a relationship with some local Realtors, property management companies, and lenders. That way when you have an employee relocating you can at leat confidently refer them to someone who you know will do a good job for them.

Most Realtos will have some kind of reloaction package that they offer, with information about the area, local amenities, etc. Good luck! Sources: I own a Real Estate Brokerage WeSellAuburn.com .

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