A relocation program for the newer generations

The current members of these demographic groups are born between 1982 and the early 2000s are not only a growing part of the workforce at large, but they are also an increasing share of entrepreneurs, starting their own businesses and setting their own rules.

Their deeply ingrained sense of egalitarianism shows through, even in the way they approach traditional services such as employee Relocation. Understanding what they’re looking for can help you be better positioned to respond to their needs.

So how do we see them, and what do they want?

Flexibility at the best – Most of the new gen, as we may call it, are in their late 20’s and early 30’s. They may have young families, which means schools for their children and employment options for their spouses, are key consideration points while relocating.

Corporates in their early 20s, on the other hand, may need nothing more than a tag-along trailer to pick up their life and move it to another day. You’ve got to be prepared to handle both. Adaptability is the best word to keep in mind for this group. Their needs will vary, and they value companies that respond to their specific needs.

They want to feel valued – The newer generation can have a strong streak of anti-corporate feeling when it comes to a traditional corporate structure of this era. In many companies, the corporate structure is tiered, and that spills over into relocation packages with more levels of services.

Most often, millennial(the new gen & the young working adults) don’t view the work world in a dynamic way. Everyone is valued equally, from an entry level employee to senior executives, and they each deserve as much attention as everyone else does. Hence we at Transworld provide the most suitable relocation programs to all, regardless of their position at the corporate level.

This strays from the traditional Relocation Program where benefits are often tied to titles. If, in case, your relocation benefits package is tied only to your title, you and your millennial employees may be missing opportunities to customize those benefits to make financial sense for the company and to fit the employee’s real needs. This is very well addressed and taken care of in our Relocation Program, which is why our Relocation Programs are considered to be much more transparent and effective, comparatively.

They expect and value work life balance – Perhaps now, more than the previous generations, the millennial want balance in their lives life. A relocation advisor can help both the millennial employee and the business owner adjust expectations in a new location. Rather than just assuming whether they will duplicate what they had in a less expensive market as opposed to in a more expensive one, they might also want help seeing that their new options might be different but not necessarily worse than the previous. Renting versus home ownership or choosing a townhouse/apartment versus a single-family home is some of those choices to be considered.

These are some important preferences to be kept in mind. Your Relocation Program probably doesn’t need an entire overhaul, but it could prove valuable to make a few tweaks here and there in order to adjust to a changing workforce. The basics remain true, you want your global mobility program to serve both your company as well as attract the best and brightest talent. As that talent’s priorities shift, so should yours!