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Have You Reviewed Your Relocation Policy Lately?

August 26, 2010
by Tim Tolan
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The days of looking for top shelf talent across the fruited plains the way we used to is over – at least for now.
Many hiring executives I talk to all understand the challenges associated with attracting candidates that require relocation and many seem to “get it”. Others…not so much. Providing a senior level HCIT executive with a relocation budget that only includes a couple of expense paid trips and reimbursement for moving their household items and 30 days interim living expenses simply won’t work in the new world of up-side-down real estate. It’s not even close and you will send a very clear message to candidates and their perceived value to your organization based on your relocation policy. Now more than ever! The world has definitely changed.

Here’s the real challenge. The demand for HCIT talent has already started and organizations that want to attract the very best and get the right people on the bus will need to evaluate their relocation assistance policy – now! Those that “get it” are already reaping the rewards of finding great people and have stepped up their relocation packages to help their new recruits off-set some of the pain and suffering they have experienced by having to sell in this down market.

I’ve seen increases in relocation packages for:

· Travel to and from the new city

· Interim living expenses

· Extra dollars to off-set real estate commissions

· Larger signing bonuses candidates can use for relocation expenses

· Lump sum payments of 2-4 months of net pay to help defray costs

The days of hiring a search firm or conducting an internal search for outside senior level talent has changed for the foreseeable future and organizations that want to scale and grow by hiring the best talent available should look closely at their relocation policy and make the necessary changes to remain competitive. The strategies you will need to attract top HCIT talent should not be hindered by having an old-school relocation policy. Make positive changes today.

If not - I’m (100%) sure your competition will.

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Tim Tolan

Senior Partner, Sanford Rose Associates Healthcare IT Practice

@@TimTolan

http://sanfordrose.net/thetolangroup/

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