When it comes to buying a home, realtors will tell you that location is the most important factor. However, as an employer, your location may make or break your company’s efforts to recruit top talent. A new Robert Half survey finds that 62% of workers claim they would relocate for a job that offers better pay and perks.
Robert Half also suggests that companies who offer relocation benefits to job candidates are more likely to secure them. And if you’re an employer in Raleigh, North Carolina; Des Moines, Iowa; Miami, Florida; and Charlotte, North Carolina, you’re more likely to attract those seeking to relocate, according to the professionals who were polled by Robert Half in 28 U.S. cities.
Furthermore, a separate Robert Half survey of senior managers found that in the past 5 years, 34% of companies have increased what’s offered in the relocation packages they present to top candidates outside their geographic area. In contrast, 30% of organizations do not offer any incentives for moving.
Additional Survey Findings
The survey also found that workers identified better pay and perks (44%) as the top factor in their decision to move for a job, followed by family or personal reasons (17%), and cost of living and career advancement (16% for each).
By age and gender. Professionals ages 18 to 34 (76%) are most likely to relocate, compared to those ages 35 to 54 (62%) and 55 and older (40%). When it comes to gender, 67% of male employees would move, versus 59% of women.
By location. Minneapolis, Minnesota (45%); Boston, Massachusetts; Philadelphia, Pennsylvania (48% each); and Detroit, Michigan (53%) have the fewest number of employees who would consider leaving their current area. While Miami, Florida (53%); Houston, Texas (48%); Los Angeles, California (45%); and Dallas, Texas (42%) have the most companies that have increased their relocation packages over the past 5 years.
“In today’s competitive hiring environment, many employers are finding it challenging to locate skilled professionals in their immediate area,” says Paul McDonald, senior executive director for Robert Half—in a press release announcing the findings. “As a result, organizations are open to considering candidates in other cities and offering attractive relocation packages to secure that talent.”
McDonald adds, “Besides receiving corporate incentives to move, there are a number of professional and personal reasons workers may opt for a change of scenery, including a higher salary, better perks, more affordable cost of living or advanced job title.”
If You Build It, they will Come
While Robert Half finds that a majority of workers are willing to relocate for better career opportunities, some companies are willing to relocate to find more skilled talent. For example, Amazon recently announced that it would be building a new headquarters in New York City and Virginia and Google has announced it will be adding a new headquarters to New York City, as well.
In McDonald’s case, the company recently opened a new corporate headquarters just west of downtown Chicago, citing the lack of available transportation options, which was making it more difficult to recruit Millennials.
If You Can’t Build It, Try Offering Flexible Benefits
Let’s face it, not every company has the money to just build a new headquarters in a large city. However, if you’re finding that your location is hampering your efforts to attract talent to your company, try offering travel reimbursements as an additional incentive/perk.
If you’re not located near a central transportation hub, like a bus or train station, there’s always the option to allow workers to telecommute. As we’ve recently reported, remote work and telecommuting opportunities are continuing to rise across the country.
Not only are these options more environmentally friendly, but they’re also cheaper to implement. When jobseekers are aware of the flexibility you offer, they’re more likely to choose your company over the competition.