Last week on the Premier HR Solutions blog, we discussed why it may be time to look outside the Austin metro area for your next top performer. This week, we’ll answer some of your most pressing questions about handling new hire relocation.
1. How should I manage the interview process with out-of-state candidates?
Interviewing out-of-state candidates can be daunting, but it’s not impossible. For a small to medium-sized business, the interview process should begin with a typical phone screening, followed by the rst round of video conference calls. You can have the candidate meet via video conference with as many leaders of your company as you see fit.
The final round of interviews should be on site. Most companies will reimburse a candidate for travel expenses such as mileage or fight costs. However, it’s important to reimburse, rather than pay upfront, for travel costs. If your candidate decides to ditch the interview, you don’t want to be stuck with a non-refundable fight. When your candidate shows up to the interview, have the check cut and ready to hand over immediately.
2. What do companies typically cover for relocation?
Many smaller companies offer a flat compensation fee for relocation expenses. Others provide a signing bonus to help their new employee cover costs. While it may seem out of your budget to cover thousands of dollars in relocation expenses, it’s important to think through how difficult it may be to fill your position. A top performer could save and earn your company exponentially more over time than you’re committing in relocation fees, so consider your return on investment.
3. Does my company need to help the new hire find housing?
If your company is located near competitive housing markets, it may be worth offering housing assistance to your new hire. This may come in the form of subsidizing rent while your new hire searches for a home, connecting them with real estate agents, or directly assisting with the buying or leasing process. Again, it’s important to consider what it will take to get the “yes” from your chosen candidate and what their employment is worth to your company.
3. What about other forms of relocation assistance?
There are plenty of other options you could include in your relocation package. Remember, the more important the role you’re filling, the more you may want to offer in terms of relocation assistance. Other forms of assistance include:
- Family support: Will the new hire be bringing a spouse who also needs to job hunt? Or children who will need to enter a new school? Consider offering relocation assistance that makes the process easier on the whole family.
- Time off: If your company uses an accrual system for paid time off, your new hire may be concerned about navigating the logistics of relocating without much time off. You could provide flexible days off within the new hire’s first months of employment to help them and new childcare providers, house hunt, move in, visit new schools, and more.