Leveraging Relocation Benefits to Attract and Retain Talent in Healthcare
Leveraging Relocation Benefits: Hiring and keeping employees who are talented and have extensive skill sets is an increasingly challenging proposition for many healthcare companies. Health eCareers notes in their 2017 Healthcare Recruiting Trends Report that over the past several years and into the future, demand for healthcare services is predicted to increase dramatically, while at the same time the supply of healthcare providers will decline, with shortages of qualified employees throughout all levels of the industry. Thirty-five percent of healthcare companies plan to broaden their talent searches to a wider geographic region, and sixty percent of healthcare companies are offering to pay for relocation.
According to the Society for Human Resource Management’s 2017 Employee Benefits Survey, HR professionals are increasingly leveraging employee benefits to attract and retain employees. Typically, the range of benefits include health insurance, retirement savings and 401K plans, family and medical leave, and flexible work schedules.
Benefits Attract Talent
Healthcare companies recognize that having a full range of desirable benefits gives them a competitive edge attracting new hires. Many healthcare companies increased their overall benefits during 2017, in order to remain competitive in the talent marketplace. Up to two-thirds of healthcare companies reported difficulty in their recruiting efforts and a shortage of employees with specific skills. Expanding recruitment efforts to include global destinations increases the complexity of the search for talent.
The Benefits Survey notes that HR professionals reported that offering more flexible work arrangements was one of the most effective benefits their company could provide in attracting new hires. This indicates employees are looking for innovative ways to fulfill their job obligations while pursuing active lifestyles themselves and with their families.
Leveraging Relocation Benefits
Since the majority of healthcare companies report a willingness to pay for relocation, their relocation programs should be considered as a highly valuable benefit to attract and retain talent. Leveraging relocation benefits helps employers communicate their interest in attracting new hires and their willingness to help employees overcome challenges related to taking an assignment in a new location. Some of the benefits that healthcare companies can highlight in their recruiting strategies and use to attract new hires include:
- Candidate Assessment
- Cost of Living Analysis
- Market Analysis
- School Reports
- Moving Cost Estimates
- Community Search and Tours
- Work Simulations
- Candidate Assessment
- Orientation Tours
- Cost Projections
- Specialized Educational Assessment
- Cultural Adaptation Assessments
- Assignment Management Coordination
- Visa & Immigration Services
- Cultural & Language Training
- Education Assistance
- Home Finding Assistance
- Spousal/Partner Assistance
- Corporate Housing Assistance
- Vehicle Purchase or Leasing Assistance
- Consultation and Exit Procedures from Host Country
- Assignee and Family Reintegration to Home Country
Healthcare Company Relocation Programs
Relocation programs for healthcare companies should be designed to provide companies and their employees the resources and tools they need to ensure a smooth and successful relocation process. A robust program should account for ongoing employee support services, supplier management, candidate selection, relocation benefits, and expense management.
Healthcare companies should consider outsourcing their relocation management to an experienced Relocation Management Company (RMC), one that is a leading industry expert in relocation services management. The RMC will help the healthcare company:
- Better maintain quality control of the relocation process
- Quickly adapt to seasonal staffing fluctuations without increasing cost per relocation
- Leverage cost through economy of scale by spreading costs over a broad client base
- Provide ongoing support to relocating employees with a single point of coordination
- Provide expertise in consultative resources, improving organizational and employee productivity
Global Mobility Solutions’ team of corporate relocation experts have helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your healthcare company by using industry best practices to design a relocation program that is attractive to your new hires, and effectively communicates your company’s value proposition in the healthcare industry.
Contact our experts online to discuss your healthcare company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.