For months now, whispers about a pending recession have been keeping business leaders on their toes. A lot of eyes are on procurement professionals who are responsible for adding value to the company without overwhelming the budget – an especially difficult task during an economic downturn.
When it comes to relocations, a recession might mean fewer hires and limited onboarding benefits, but your employee relocation provider can still serve as a valuable partner. Here are a few ways your corporate moving program can respond to a recession without reducing scope.
Explore Flexible Program Options
As you are asked to review vendor partners in the face of budget cuts, it’s important to keep in mind which vendors can be flexible as the company’s budget and business needs ebb and flow.
A strong relocation provider offers more than one-size-fits-all solutions. The right partner has multiple moving service options and can help your team find the right solution at the right cost.
As one of the largest national moving networks in the country, Allied has a variety of corporate moving packages to fit any budget, including:
- A lump-sum package, which provides the employee with a fixed amount of money to cover their relocation expenses as they see fit
- A full-service package, which provides a comprehensive set of moving services, including packing, unpacking and transportation of household goods
- A partial-service package that just covers the transportation of household goods
Expand Your Hiring Radius
A recession might cause a reduction in your HR team’s recruiting efforts, or it may mean focusing their energy on hiring top talent for higher-level roles. If this is the case, the company will likely need to expand their recruiting radius and entice long-distance prospects with a relocation package.
Providing talent mobility services not only makes it easier for a new employee to make the transition, it also makes them feel safe and secure with your company since you’re investing in them right off the bat. This instant boost of morale can lead to increased loyalty and retention, and a great ROI for your business.
Retain Talent Through Internal Mobility
While your company may not be focused on recruiting during a recession, it will be even more important to keep existing employees engaged and feeling secure. One of the key ways to do so is through career advancement opportunities. By promoting internal team members and managing their relocation when necessary, you are more likely to keep morale, loyalty and retention high during a shaky time period for the business.
Make Big Moves as One of the Lucky Few
Unfortunately, an economic downturn tends to mean an increase in layoffs. If your organization or industry is typically not hit hard by a recession, like health care providers or food suppliers, you can respond to the increase in available talent more quickly with a corporate moving partner. Those who are unemployed are more likely to be willing to move for a new job, especially when provided the resources and support to do so through a corporate moving package.
Face the Challenges Ahead with Allied
Recession is a scary word, but it doesn’t have to shut down your entire procurement department. Rather than cutting ties with all your vendors to reduce costs, maintain relationships with the ones who are willing to flex and change with your company’s needs. If you need to adjust your budget, we can adjust the service offerings.
In our 95 years as a moving provider, Allied has helped people move through some of the most challenging moments in history – including more than one recession. Regardless of the challenges we may face in the coming year, you can trust Allied to work within your budget and take care of your employees. Learn more.