Why do I need a Relocation Management Company (RMC)? This is a question that we are asked all the time, primarily from companies that handle the relocation of their employees in-house. And, while an in-house program might seem easy enough to administer, the fact is that partnering with an RMC can offer many advantages for both your company and your employees.
The most important and most basic of those benefits stems from the critical role that an organization’s global mobility program plays in the recruitment and retention of key talent.
Recruitment and Retention of Key Talent
In today’s competitive global business environment, companies have to utilize every tool in their toolbox when it comes to attracting and retaining key talent. As such, it is imperative for companies to develop successful global mobility programs that closely mirror current industry best-practices, and that fit the future growth and expansion plans of their organizations. Thus, the most successful global mobility programs are those that are strategic by design.
When competing for key talent, the structure and strength of your organization’s global mobility program is more important than ever before. It is one of the top benefits that potential employees evaluate when weighing their career and employment options.
So, companies that outsource their global mobility programs to RMCs often have a better competitive advantage. This is because they are able to rely on the RMC to be the expert within the realm of relocation management services, which ensures competitive policy development based on best practices within the marketplace, and the changing needs of the workforce.
Minimize Employee Productivity Before, During and After Relocation
Another important advantage of working with an RMC, is that having a well-tuned global mobility program that is successfully executed minimizes employee downtime and improves productivity before, during and directly following the move. This is because your employees don’t have to take unnecessary time away from work to handle every detail of their relocation themselves. Instead, those details are managed for them in a way that minimizes any loss to their productivity.
At the same time, having your relocation program fully managed can play a vital role in reducing the stress generally caused by relocation.
Working with an RMC Reduces Stress
Working with an RMC can significantly reduce the stress typically associated with relocation, not just for the employee and family, but also for your HR Department and staff. This is because the role of the RMC is to manage the entire relocation process for you and your mobile employees from start to finish. As a result, the RMC is responsible for the many moving parts, thus removing much of the burden of relocation from your employees and your HR Department.
Additionally, the RMC works as an extension of your company and your HR Department, and relies on a complex symphony of relocation experts and trusted partners to successfully execute your mobility program for you.
A Symphony of Relocation Experts and Trusted Partners
At its very core, successful relocation management is a complex symphony of relocation experts and trusted partners all working together for the benefit of the client and their mobile employees. RMCs have a vetted network of reliable relocation service providers that handle every aspect of an employee’s relocation. That network is comprised of a vast number of relocation experts who are considered the best of the best within each of their specified fields, within a variety of markets, both domestically and internationally.
Since relocating employees and their families typically need a variety of different relocation services, that network of providers generally consists of the following:
- Household goods movers
- Real estate brokerage firms
- Mortgage companies
- Title companies
- Temporary housing providers
- Immigration specialists
- Tax consultants
- Compliance experts
- Destination service providers
- Cross-cultural training experts
- Spousal career coaches
- Educational consultants
You and your employees can feel confident knowing that there is a very competent team in place that is responsible for the careful orchestration of every aspect of every move. Each member of that team works independently, yet together, and the entire process is managed by the RMC, which is ultimately responsible for that team and the success of each relocation. In other words, there is a great deal of accountability provided by the RMC.
By contrast, companies that manage their mobility program in-house might struggle to find the best vendors for each aspect of a move. Not only that, but HR professionals don’t typically have the time to devote to relocation management, and it isn’t necessarily their area of expertise. So, it is often better to leave relocation to the experts, and allow HR to be free to focus on the other more pressing matters of their department.
Cost-saving Benefits of Working with an RMC
Cost-saving benefits should always be a top-of-mind consideration when choosing to work with an RMC. In fact, one of the greatest strengths that an RMC should be able to bring to your organization is the development of an effective global mobility program that enhances the cost-saving benefits, while maximizing efficiencies. It should also be one that is strategically structured to best enable your organization to achieve your organization’s talent management and talent mobility goals.
Having an RMC that understands your goals, and works with you in achieving those goals, means that you have a trusted partner who is looking out for your best interests and those of your relocating employees and their families.
As you know, relocation is a very expensive endeavor, so whether you have 1 or 100 relocations in any given year, you need to make sure that those dollars are spent wisely and not wastefully. That’s where an RMC really shines for their clients.
Having the Right Relocation Partner
In addition to the benefits discussed above, working with an RMC might have many more advantages for your organization. But it all starts with having the right partner. So, if your organization is thinking about outsourcing your relocation program to an RMC, make sure that the partner you choose is the right fit for your organization.
At VERSA, we know that fit is everything. So, we pride ourselves in truly understanding the challenges that our clients face every day, and providing the best relocation solutions to help them meet those challenges head-on.
Are you trying to decide whether your organization could benefit from working with an RMC? If so, please contact us anytime! We would love to discuss the benefits with you!