Why "Millennial" employees still need relocation support
By relocationc293694, Mar 1 2017 04:07PM
Due to their age,many millennial employees may not have heard of corporate relocation or know anyone who has been relocated by their employer. They may therefore need a little education on its benefits!
The millennial generation are tech savvy and very capable of accessing information on line, probably quicker than we can pick up the phone! By the time we speak to them they could very well have researched an area thoroughly , know exactly where they think they want to live, and quite possibily narrowed down a number of properties in the process. Our job is to inject a note of caution into the proceedings and remind them that just because information is available on line, doesnt make it true !
Much of the information available on line can be subjective and even out of date . There will always be a need to embrace the emergence of technology , but it will never replace the human touch completely. I spoke to a client recently who informed me that a millennial employee had recently visited London for 2 days to find a property to rent and had returned completely demoralised and confused.She hadnt appreciated the fast pace of the London Market, the amount of choice in terms of areas, agents and properties, and how little she would get for her money ! Some agents are good and some not so good, but all of them work for the landlord. With companies such as Google and Apple setting up new London Head offices some areas in London have become more popular which has seen an increase in rental prices , whilst in other areas prices have become more negociable. We help manage your employees expectations by knowing the market inside and out and offer them help and advice when choosing their new home.
When discussiing relocation support with Millennial employees it may be worth mentioning the following points -
o people often underestimate the amount of time it takes to research, view and select a property in an area they are unfamiliar with. Speaking to agents and arranging viewings takes a huge amount of time and is often an unwelcome distraction when trying to concentrate at work
o We would complete a full briefing with your employee to fully understand their requirements and their priorities
o We research the market fully , personally speaking to all the local agents ( Rightmove is a good tool but often not very up to date)
o We arrange a full day of viewings in various areas seeing between 10-15 properties in one day. Your employee will be picked up from their temporary accommodation and driven around to the appointments by our local area consultant, making it a much quicker process than using public transport
o The majority of clients are able to choose a property at the end of their viewing day
o We would aim for your employee to be moving into their new property within 1 month of making the offer – this time can often be reduced depending on when a property is available
2. KNOWLEDGE :-
o Our area consultants have excellent local knowledge of the various areas and can provide an area orientation and over view whilst driving to appointments
o We know what questions to ask when speaking to the agents and can often rule properties in or out based on the conversation.
o We can offer suggestions on suitable areas to consider based on brief and budget
o We can help manage expectations and soothe nerves!
o We update our legal training annually so we can ensure your employees interests are protected when negotiating their leases and completing the tenancy administration paperwork
3. LETTING AGENTS:-
o We have close relationships with many property agents
o We are able to show clients the best of properties available on the market, often before they are even advertised.
o Where property agents work for the landlord/seller, we work to protect your employees interests and negotiate the best terms for them.
o Property agents often favour working with relocation companies, as they know that the client is serious and committed to their search.
o Referencing – employees may be new to the UK so there may be some issues with passing referencing. Our relationship with the agents will make the process easier to navigate and agents often see the involvement of a relocation company a positive influence when discussing referencing.
4. FINANCIAL BENEFITS:-
o Many agents reduce or waiver their administration fees when working with relocation companies , resulting in a direct cost saving.
o We negotiate the best deals possible often helping save a significant amount annually in rent
o Temporary accommodation is extremely expensive so it would be preferable for your employees to find their own properties as soon as possible
5. ONGOING SUPPORT:-
o We provide end-to-end support, continuing well beyond your employees move date, so if they have any questions or worries we can help put their mind at rest.
o We remind your employees of key dates/obligations in their tenancy.
o We can assist with opening bank accounts, even before a UK address is obtained. Proof of UK address is a huge problem when trying to open bank accounts
o We can assist with applying for a National Insurance number
Remind your Millennial employees they dont have to " go it alone" to stay in control - we can help make their relocation a much quicker and much more enjoyable process !