One of the primary functions of the Human Resources Department is to assist business units in locating and retaining the best candidates within the organization. There are a wide array of strategies and techniques that businesses use, however there is one that is often overlooked. The use of relocation incentives is an excellent way to encourage individuals with sought after talents to join your organization simply by engaging a local real estate professional to assist your department in laying out the strategy.

There is a misconception that relocation benefits are inherently costly. While certain methods can result in a substantial investment on the part of the hiring company, there are some basic strategies that a company can employ that will enrich their current relocation program. Here, I will discuss the low and no cost options that can easily be implemented by any HR department, large or small.

Provide Assistance from the First Contact

One of the biggest challenges that a relocation applicant faces is figuring out what part of town suits their lifestyle, budget and commuting desires. When a relocation candidate is first contacted, it is an excellent opportunity for a company to display the hidden benefits of working for that company. By including this information along with the requisite company information your firm does both parties a favor. Remember, the candidate is very likely to be entertaining several employment options and the firm that is best able to explain how they will be able to integrate into the business and the community will have the advantage. It is not reasonable to expect the HR department to keep up with the changing landscape of rental values, shopping outlets and school information outside of the immediate area; this is where having a real estate consultant comes in handy.

Provide Apartment Location

Assistance Employees who are part of the rental demographic make up the bulk of the U.S workforce. It can be helpful to have a questionnaire for both current employees and new employment candidates that can be forwarded to a real estate professional to assist the human resources department in locating viable properties to expedite the transition. By providing this liaison the company can not only tap into other markets, but use it as a retention tool for employees that would like to cut commute times or downsize for other reasons.

Assistance with Selling their Current Home

The company affiliated real estate professional will also be a valuable resource when assisting transfer candidates, and new recruits in identifying a competent Realtor in their area to assist them in the sale of their current home. Additionally, the affiliated agent at the remote agent can work together to assist the employee/candidate in coordination of move in dates, moving services and other relocation related activities. Another option often overlooked is the ability of a real estate brokerage to act in the property manager capacity in which the brokerage that the affiliated agent or remote agent leases out the current residence in their absence.

Assistance in Purchasing the New Home

Naturally, it would follow that an individual who is new to the area would need to learn about the available housing options as soon as possible. Again, these materials can be easily integrated into initial communications with a candidate. If your company doesn't offer monetary relocation compensation, it is especially important to provide at least the basics as it relates to a property search.

Miscellaneous Moving Services

Your affiliated real estate professional and/or remote agent will also be a valuable resource for your candidate when it comes to locating moving services, cleaning services and other related moving service providers. In some cases they may even have price lists available or be able to obtain them on behalf of your candidate.

While these services can be obtained for a price, by building a relationship with one or more brokerages you can easily shore up your company's relocation services with very little or no impact to your annual budget.