For Tech Companies: why ‘Relocation package’ really matters

Nowadays, tech companies are appearing every day with a high growth rate. Relocation of overseas talent has long been a common practice for most of them. It brings diversity and allows outreach beyond the local market.

A modern spacious office, table tennis, adjustable desks, a coffee-maker are already a must-have for technology companies. However, all companies attracting international talent have one thing in common: relocation packages, which could vary from absolute zero to some luxury type.

Well, why does at least basic relocation support matter for your future foreign employees?

1. Relocation to any foreign country is always cost-intensive.

Flight tickets, essentials for a new home, rental costs, security deposits, etc. fall on the newcomer’s shoulders all at once. As a result, a newly hired employee can leave the company for a higher salary well before the end of his/her probation period. The reason is obvious — it’s simple math when the candidate’s moving expenses exceed his/her income over a period of 2–3 months.

2. A set of expectations and professional experience could be overrated by the employees when hiring from abroad.

Sourcing foreign candidates, companies often take a big risk. At the same time, they gain access to the global market along with a chance to hire the best and most-qualified tech candidate. Having the suitable skill sets found in a local employee and an international may affect hiring the former with some doubts about hiring the latter.

3. The relocation process itself is always stressful and full of uncertainty.

So if you want to have a productive and committed employee from day one, help your newcomer settle into a new country with minimum stress and tension.

4. The provision of relocation support emphasises your company culture and attentive attitude towards your employees.

Attention to employee happiness, enabling self-organised teams and transparent communication are very trendy now and contribute towards encouraging an employee’s full potential. The attitude of a new employee during relocation and their attitude over the period of employment is not usually thought to be linked, however, if you (as a company) wish to show your value to the employee from day 1, ‘prove yourself’ able in ensuring employee well-being and comfort with comprehensives relocation assistance.

5. In the long term, it would be cheaper for you (as an employer) to provide some relocation perks.

It sounds strange, doesn’t it? But if you don’t provide, for example, housing assistance, your employee will probably have to leave during valuable working hours to view prospective apartments at a cost to you. The absence of any relocation support may also lead to the fast quitting a job. So you, as the employer, would have to utilise your resources (time and money) to find new talent again.

Taking all of the above into account, relocation package really matters for your international employees and it does not necessarily have to cost a lot. Absolutely not. Our key function is to provide at least a basic relocation package that will cover most moving ‘issues’ of your future employees and effectively reduce relocation stress, thus, easing integration of new employees into your company’s work environment.