When someone is considering a new program or changes to their existing program, what is the first question they need to answer?
The first thing that needs to be considered when changing a current program, or creating a new program, is what are we trying to accomplish and what are our goals?
For example, are we looking for cost saving opportunities, or maybe we’re wanting to make the program as competitive as possible? What are others in the industry doing, and what can set us apart when recruiting? I say ‘we’ because I really do feel like CRI is an extension of our client’s HR and Talent Acquisition teams, so we work closely together to create benefit packages that really meet the needs of our clients.
How have you seen the war for talent impact your healthcare clients?
It’s tough out there!!
Burnout caused by the pandemic has created more turnover which has only exacerbated the war for talent for my healthcare clients. Hiring and open reqs are at all time high, and HR teams are getting creative with benefits package and incentives, specifically including relocation programs to really set themselves apart!
What’s the most impactful change you’ve seen your clients make to their benefits program?
Recently, I’ve noticed there’s been a shift from clients providing traditional relocation programs that provide the standard benefits of home sale, temporary living, household goods and home purchase for example, to more of a core/flex program. This way the employee can really create a program that fits their needs.
For example, a single renter won’t need all the same benefits that a family of four does – so allowing them to cover things not traditionally covered in a relocation package really shows the employee that their experience matters, and not everything needs to be so cookie-cutter. I’m also seeing an increase in Lump Sum and MEA amounts, for those same reasons. Being flexible is key!
What services are you seeing relocating employees take advantage of the most?
Hands down, temporary living benefits have probably been the most utilized and also, the most challenging due to the housing market boom!
At this point, everyone knows that it’s a seller’s market and buyers are having an extremely difficult time purchasing as properties see hundreds of showings and dozens of offers. But, what I think is less well known is how this has affected the rental market and therefore temporary housing. As more and more people rent for longer periods of time for a variety of reasons, providers are having trouble securing short term leases. Which means we are seeing an increase in temporary living costs, extension, and exceptions.
So, again, flexibility is key! We have to be able to adapt and come up with creative solutions for our clients.
What is something you’re excited about for the future?
I am so excited about some of the solutions and products we have coming down the pipeline.
We’ve gotten creative and have partnered with some really innovative companies and brands, and I think our clients are really going to see a lot of value that will really separate them from their competitors in the recruiting and talent acquisition space.
