Retaining top talent when your company relocates

22 May 2019

Thinking about upping sticks and relocating your company? There are many potential reasons why you might be considering a move. For instance, you might have outgrown your current space, you want access to new markets, you’re keen to limit your overheads, or maybe you simply want to move into a more creative and inspiring office.

Whatever your motive, one of the challenges you face when relocating is retaining your employees. Some of your team may not be as keen on the move as you, particularly if adds miles onto their daily commute. Or, if it requires them to also up sticks.

As a recent Dealer Support article rightly points out, recruiting and retaining top talent is vital for business success. Whether you’re planning to move city or country, the article shares some top tips to help you keep hold of your top workers during the move:

Consider offering a relocation package

Get this: according to Accounts and Legal research, replacing an employee can cost up to six times their salary when recruiting and training expenses are taken into account. That’s a lot of money by any employer’s standards. It can also impact general staff morale, not to mention productivity levels.

If you’re moving afar, you might want to think about incentivising staff with relocation packages. These packages can include help with moving and travel costs, legal fees and temporary accommodation. So says Gov.UK, in some cases, relocation costs in the UK up to £8,000 are exempt from reporting and paying tax and national insurance.

Provide support during the relocation

The more support you offer your team, the smoother the transition will be. Help settle any concerns by providing a thorough, step-by-step road map of what the move entails, explaining what it means for each employee’s career and how your company is willing to assist.

Being transparent about the type of support you’re offering – whether financial or other – is key to helping your team feel comfortable with the move.

Promote flexibility

Some employees will have loose ends to tie up during the move, so it’s important to show that you’re fully supportive of this. Chat with each employee individually about their circumstances and agree a realistic timeframe for moving.

This is a good time to introduce flexible hours and provide staff with an agile working environment, allowing them to balance easing into their roles in the new location, with settling in to that new location.

Think about offering remote working

Business owners believe that around half of the UK workforce will be working remotely by 2020, says OddsMonkey. With technology constantly improving and flexible and co-working offices popping up in cities across the world, your workforce can connect from anywhere. Offering remote working options could be key to inspiring some of your team to continue working for your company.

If you’re looking to relocate, or have decided to stay put and modernise your current offices, we’d love to help you develop an inspirational and successful workspace. We have more than 30 years of experience in the design, build and supply of offices – get in touch today to speak to one of our experts.

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