Across the mobility industry we are seeing a rise in talent agendas stating the importance of the Employee Experience to recruit and retain the best talent. However, more recently we have heard exasperations that too little is done when considering the Family Experience.
There is a great expense associated with every Move Type; it is typically three to five times (3-5X) more costly to have someone working in a host location as opposed to their home location.
In years gone by the focus was on the employee as the “lead assignee”, with very little consideration given to the now outdated turn of phrase “trailing spouse” or indeed any accompanying children.
However, recent studies suggest that one in three (33%) of all relocations fail because of family-related issues and an inability to settle in the new host location.
Why families fail to settle can range anywhere from career opportunities or cultural adaptation for the accompanying adult, to language and access to international schooling for the accompanying children.
As such, the importance of supporting the family and not just the employee cannot be understated and is critical in ensuring a successful move and securing the much-hallowed return on investment.
Within our Equus Platform, organizations are leveraging our technology solutions to support this industry-led transition towards a family-centric move in several ways.
- Redesigning their policies with the family in mind, introducing “total family on-assignment” allowances in their Cost Estimates and Compensation Calculations.
- Allowing employees to flex these allowances to better suit their needs, introducing Benefit Election Sets for a personalized approach.
- Surveying their employees (and accompanying family members) to understand what is and is not working at both an individual and family level, introducing Pulse Checks for a tailored experience pre/on/post relocation.
Contact us to find out more about how the Equus Platform can support your mobility programme.