If an organization relocates less than 100 employees annually, there is typically an individual in the Human Resources department that is tasked with handling the administration of all relocation benefits/services. A challenge for this HR professional, on top of it comprising only a small fraction of their overall job responsibilities, is a lack of time, expertise, and supply chain.
Many will look to outsource this work and seek to partner with a Relocation Management Company (RMC) that is responsible for managing relocations for your employees. It’s important to acknowledge the big impact relocation has on the company’s ability to attract and retain key talent, in addition to productivity.
Just like the importance of picking the right size truck for a move, the selection of the right RMC is a critical decision. If the annual relocation volume does not match the RMC’s desired client profile, chances are your account may not get the time and attention needed.
Seek an RMC that has a culture match for your organization. Do they possess a partner attitude/approach to the relationship? Would the RMC’s desire a client who had 100 or fewer moves per year? Would the RMC’s be interested in a client who had between 10-15 moves per year? The is YES – it’s somewhat of a niche sector in the industry, but an important one.
Noted below are some criteria for identifying an RMC for a small volume client are:
- Good Fit is key – culture/supplier/partner mindset
- Subject Matter Expertise
- Customer-driven approach and flexibility
- Supply Chain and cost savings
- Reporting Capabilities
- Coverage area – do they have resources where you need them?
- Management Structure and Stability
Real Estate is an essential service, but it is not business as usual due to COVID-19. It is more important than ever to have the right support when managing employee relocation. Selecting the right RMC can help HR move the business forward while ensuring the benefits are administered in a cost-effective and compliant manner.