Employee Mobility: SO IF… Series – Part 3
Drilling down on home disposal as part of risk management strategy …
So, if employee and employer both assume responsibility for risk on disposal of difficult (normally ineligible) properties?
Enforcing strict guidelines on property eligibility (i.e. mobile homes, acreage properties, etc.) has historically left some employees with little or no assistance. In an effort to mitigate risk, a company refusing a certain property on the guarantee home sale plan risks being the ultimate ‘loser’ by:
– having the strongest candidate refuse the transfer
– transferring the strongest candidate but experience less-than-optimal productivity and commitment due to a preoccupation with the marketing of his/her old home
– transferring the strongest candidate but assuming considerable and often unforeseen expense with alternate assistance programs, carrying costs, temporary accommodation, return travel, etc.
What If… in an effort to mitigate opportunity loss (from a talent perspective), all properties are considered based on their particular merit within the immediate and actual marketplace in order to increase the percentage of relocated employees who can benefit from some sort of home sale assistance. The hiring or transfer process could include a discussion and realistic determination of risk vs value, with increased risk on the part of the corporation resulting in reduced benefit to the employee, and vice versa. Rather than refusing to assist an employee with a traditionally ineligible property, why not identify factors affecting true marketability and apply a sliding scale of risk with corresponding levels of assistance, better supporting the employee in his/her efforts while maintaining control of ultimate relocation spend.
Can a Risk-Partnership model help corporations comfortably and safely extend more appropriate home disposal benefits to an otherwise ineligible employee who:
– owns a property not legally considered an immovable?
– enjoys acreage property or is a gentleman farmer on weekends?
– has a property requiring significant updating or repair?
– owns a multi-unit dwelling, co-ownership…?
Could this Risk-Partnership philosophy and model potentially:
– allow corporations to ensure they have the strongest talent where they need it?
– actively engage employees in the risk management of relocation?
– reduce relocation risk and in turn, better predict and manage spend?
– empower employees within the process and eventually reduce attrition rates?
Is this something worth exploring?