Recruiting and Relocation – The New Reality
According to new research by Challenger & Grey, only 1.6% of job seekers will relocate for a job. That’s compared to 4.1% in 2021, and 11% in the decade prior to that.
Think about the implications of that for your talent acquisition efforts: when you find qualified candidates who are not commutable, only 1.6% of them will have any interest in your openings. How do you adapt to this new reality?
- Competitive Compensation – at or above the median – is more important than ever. In a time of very low unemployment, very few of the 1.6% of candidates who are open to relocation will do so while taking a pay cut. [Download Kinsa’s 2023 Salary Guide]
- Keep in mind that younger candidates – who often have young families – are much less likely to consider uprooting them with relocation for their job. Empty nesters tend to be much more flexible.
- Offering anything less than a full relocation package (including moving of household goods, mileage, allowances for candidates and their domestic partners to come to visit and check out housing options, temporary housing, incidental costs, and/or realtor/title/closing fees, etc.) is not very enticing. New employees want to make sure they’ve made the right decision, not be concerned about how much this move will cost them or where they’ll live in the meantime while they find a place to get settled.
- Candidates who require work-visa sponsorship tend to be far more open to relocation.
- Be flexible about your hiring requirements. Make a deliberate distinction between true requirements and the “nice to haves.”
- Consider internal hires. Of course, you’ll still probably need to replace the person you are moving into the position, so start by considering employees who may be more replaceable with local talent.
- Nothing will help you recruit “purple squirrels” (candidates with very specific/unusual skills or profiles) than allowing fully remote work. Think of the HUGE impact that has on the size of the available talent pool. [How Employers Can Benefit from Having Remote Employees.]
Remember, when recruiting candidates who would have to relocate… you are not just recruiting them to a job. You are relocating them to a new home and community. Furthermore, you are relocating their entire family. Families may have a variety of concerns about where they relocate: weather, crime rates, education, cost of living, shopping and dining options, houses of worship, etc. Be prepared to address all of these concerns.
At Kinsa Group, with 38 years in this business and over 1,150 exceptional employees placed in the last two decades alone, we have the experience to help you navigate these recruiting and relocation challenges. Contact us today to find out more about how we can help!Contact Us
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