How Companies and Candidates can Overcome the Challenge of Relocation

On the employer side, there’s a lot that can be done to attract executive leaders without giving away the farm … or should we say manufacturing plant? On the candidate side, while they may hold the cards, there’s a certain way those A-players can play their hands in the current market to advance their own lives and careers.

Employers

If you’re responsible for hiring in any part of the process, you’ve undoubtedly heard the mantra: “Be flexible!” Unfortunately, that’s easier said than done – and “flexibility” can mean any number of things, with each company and career opportunity having their own set of requirements.

Many hiring managers believe money is the number one factor that determines whether their most desirable candidates relocate, but our experience speaking with thousands of contacts tells us this is not true, though it’s still important (we’ll get to that in a minute). We’ve seen companies offer ultra-aggressive compensation packages fall short because they wouldn’t budge on other aspects of the job. This is because over the last several years, many executives have grown very comfortable working in either a completely remote or hybrid environment, so tapping into that will dramatically open up the field of candidates who’d be willing to even interview for the role.

There are numerous examples of successful searches stemming from simply allowing a hybrid commute over longer distances. The perfect transformation leader could be willing to travel to the location from hundreds of miles away for one to two days per week, or perhaps one week per month. Arrangements can be made for temporary living in apartments or extended stay hotels, but even if that sounds cumbersome to the average reader of this blog post, this could be a healthy compromise. Overall, the more companies are willing to reconsider the physical location of the role, the more success they’ll have in landing the most desirable leaders.

The other side of the flexibility coin involves the personal nature of relocation. Let’s face it, packing up and moving across the state, region or country is daunting for any person – especially when family is involved. They aren’t only employees who can operate a plant, they’re family members with often deep roots in their respective communities who are being asked to start over.

Hiring managers need to sell the role not only as a step up the corporate ladder, but a step that takes them to where the ladder ends. Moves are for the long haul, so few people would be willing to relocate in the second halves of their careers if they think another two to three additional moves would be necessary later on.

This also includes selling the employer’s location to the candidates: What are some of the best neighborhoods, schools and things to do? No one knows the area better than those who currently live there, so take a little time to show their next possible homes. Putting together a brief deck with this information, or better yet, physically taking them around town can go a long way.

On the financial front, most people understand at a higher level they need to pay a premium for top talent right now, but how much higher? While it’s natural to think of this in terms of compensation packages that include salary, bonus, equity, etc., it also includes relocation costs. Candidates have zero desire to pay to move, so that means companies often must shoulder the burden of paying for increased relevant housing costs and higher inflation rates. Pre-pandemic, we saw high-quality relocation packages in the $40,000-$50,000 range, but now that figure has reached $75,000. Companies that routinely land their top candidates are ones that offer their best compensation packages – including relocation – the moment they find “the one.”

Candidates

We’ve talked a lot about flexibility on the client side of the relocation issue, but it cuts both ways. No move is perfect and without challenges, so offering some leeway to an employer that is bending over backwards to make it work is somewhat expected. Even if the hiring manager promises a generous relocation package, other costs inevitably arise that simply cannot be covered over the course of a move. Also, it probably goes without saying, but fretting over a handful of nominal costs that aren’t covered could be more than made up for with added compensation by taking the new role.

Because this is one of the biggest challenges for employers right now, making it clear from the get-go about relocation intentions saves everyone a lot of time and headaches. We learned in second grade that honesty is the best policy, which applies here as well. If a recruiter or employer reaches out about a role that requires a move but you already know it won’t happen, then politely and explicitly communicate that from the jump. This is the far better option than keeping that vital info close the vest only to surprise all parties at the 11^th hour. We also hear candidates say they might be interested in relocating if it’s the right fit, so if that’s the case, share that as well.

For those ready to pack up and move for the next career opportunity, feel free to list that on a resume or LinkedIn profile. This might get certain candidates on a select list for new opportunities that might come up, and is another reason for candidates to consider moving for the right opportunities. It can often be the most efficient way of taking the next step – or three – in careers and personal lives. To raise a hand about the willingness to relocate can give top talent a leg up over fellow passive jobseekers looking to move up the executive ranks.

The issue of relocation is certainly not a new one to everyone involved, but has quickly shot up the ranks of challenges for companies striving to bring in the best available talent. There’s no magic formula that’ll work for every search, but remaining flexible and leading with empathy will help ensure a fruitful recruiting experience.

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