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How to recruit a candidate who must relocate his or her family cross-country?
Recruiting & Staffing
How to recruit a candidate who must relocate his or her family cross-country?
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What are the most common items asked for by job candidates who would have to relocate their families cross-country?
If you are recruiting a highly desired candidate who must make a cross-country m
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How to recruit a candidate who must relocate his or her family cross-country?
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How to recruit a candidate who must relocate his or her family cross-country?
posted at 7/30/2011 4:52 AM EDT
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Posts: 49
First: 7/18/2009 Last: 8/17/2011 |
What are the most common items asked for by job candidates who would have to relocate their families cross-country?
If you are recruiting a highly desired candidate who must make a cross-country move, what total compensation package items and quantities do you offer to sweeten the deal? This would be for a non-executive but highly technical candidate with rare skills. A candidate much better qualified than any local candidates. Indeed, where they may be zero qualified local candidates who've applied. But for whom relocation may be a hard sell. What total compensation items for a relocation hire can add the most impact with the least cost? |
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How to recruit a candidate who must relocate his or her family cross-country?
posted at 7/30/2011 5:59 AM EDT
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Posts: 562
First: 11/12/2009 Last: 9/14/2011 |
Candidates relocate for a variety of a reasons, some personal and some professional. But ask anyone of them and they'll probably tell you that if they're going to relo, then it should cost them as little out of pocket as possible. "Least cost" and "relocation" are typically mutually exclusive terms.
I think the best thing you can do is manage the relo costs as best as possible. Negotiate rates with movers. See if a relo service can provide third party home purchase services for less cost than what the individual employee can arrange. Monitor your temp living expenses. |
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How to recruit a candidate who must relocate his or her family cross-country?
posted at 8/1/2011 12:29 AM EDT
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Posts: 49
First: 7/18/2009 Last: 8/17/2011 |
Nork and others. Please vet the following idea. A friend told me that sometimes, a relo candidate will ask the hiring company to purchase his or her home at either:
1) The price the candidate paid for it or... 2) Pay the difference between purchase price and sales price. He said the price should be significant if the company really wants the candidate. My immediate reactions were: 1) Are you kidding me?!? In *this* housing market? and 2) Perhaps for CEOs, execs, VPs, and perhaps a few upper management people. But is this really done for engineers (Software, Civil, etc) who may "only" be making between 80K and 110K? Seems to be the "we'll buy your house" gambit would come into play only for top execs. So who's right? |
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How to recruit a candidate who must relocate his or her family cross-country?
posted at 8/1/2011 4:45 AM EDT
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Posts: 2442
First: 2/12/2000 Last: 9/14/2011 |
Yes it is done for select candidates. Most companies put a cap on how much of a "loss" they will protect. Also these amounts are taxabel so the person has to be "grossed up" to be fully protected.
One of the keys to market pricing the house is the assumption used regarding price that can be obtained in a set number of days. Companies often use a 90 day market price which will control the costs. |
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