One of the hottest topics in the relocation industry is millennials – with good reason. Each year millennials make up more of the workforce, so treating their needs and preferences as passing fads isn’t the best strategy. One of the defining qualities of this group is their preference to manage things themselves, relying on “on-demand” tools that they can access whenever they want, without having to go through another person. This is in stark contrast to previous generations who put a premium on having a relocation coordinator walk them through each step of the move process.
So, should you shift your relocation strategy to simply making sure your younger employees can readily access all the details about their move and let them decide what is best for themselves? Not exactly.
It is a smart move to give them all the details relating to their relocation that they might need. Transparency and accessibility are two incredibly important qualities to millennials. But, you also need to give them some guidance on what they should do with that information, especially if you’ve given them a lump sum. Here are some specific tips to keep in mind:
- All flash, no substance online tools: There’s been some amazing advancements when it comes to relocation technology over the past decade. However, a flashy website or mobile app can only help so much. Rarely – if ever – is any one move the same, and thinking that a digital tool can handle those inevitable curveballs is a tall order. While millennials don’t necessarily want a person to facilitate every step, it is important that they have access to a relocation expert should things go awry or they have a question that they can’t answer themselves.
- Too good to be true deals: Millennials are still more likely to receive a lump sum than a traditional relocation package. Knowing how to budget a lump sum is one of the most important, but trickiest, aspects of a relocation. Many young professionals, especially if they’ve never used a professional moving company before, are unaware of the costs associated with it. And this is where rogue moving companies find their victims. They offer people significantly cheaper online quotes, only to charge thousands of dollars to release a customer’s belongings from the moving truck. There are few relocation problems that can cause more stress and anger with a transferee who’s preparing for a new position.
“Uberification” is a term that's impacting virtually all businesses, and the relocation industry is no different. Understandably, people, especially younger individuals, want answers and services at the push of a button. While HR managers and relocation companies need to work together to find ways to meet this growing preference, it’s important that companies still give guidance and have resources and experts available that can help relocating employees should a problem arise.