Is your VIP program ready?

According to this article from HR Grapevine, “Executive exodus? | Third of C-suite employees plan to quit in 2024”, many high level executives are considering a job change this year.  The findings come from LHH, a leading global talent development and career solutions company, who surveyed more than 1,000 business leaders across the globe to get this insight. They found that many executives are burnt out due to external headwinds and internal challenges. 

The article goes into greater depth on more of the details causing all of the stress, but it made me wonder whether mobility programs are ready for bringing on a new CEO, CFO, COO, or any of the higher level roles that directly support the C-suite. Is your relocation policy for high-tier employees ready to make an impact on their experience? 

Plus has recently helped a number of clients implement and/or renovate their VIP move programs. If you're trying to guarantee a clean transition for new executives and their families, you'll want to make sure their relocations are providing the best experience, customized specifically for their unique needs. 

Our policy and program experts suggest a few of the following best practices for preparing to move a VIP or executive:

1. First, know your budget: Knowing ahead of time what the total investment your company is willing to make can help you design a tailored package and move experience. An established budget can also help you make quick key decisions if additional support is needed. We see many companies managing a discretionary fund, which enables their RMC partner (relocation management company) to act quickly and address a VIP’s needs immediately vs. waiting for the company to respond.
2. Consider flexibility with VIPs: For a lot of companies, one size does NOT fit all. Many companies create different tiers of VIP relocation support. Different executive levels in an organization bring different value. Relocation packages, like compensation, need to be tailored accordingly. Plus often focuses on designing new flexible policy structures that allow for more options, more choice, and more control for the relocating executive. Flexibility also helps Plus be more effective at responding to actual needs without increasing move costs. 
3. Design the experience: VIP moves are a chance to re-evaluate your entire process and all move touchpoints. It is critical to understand and set proper expectations with everyone involved (internal stakeholders, mobility teams, the executive, and your RMC). Your RMC can help you design a great experience through candidate calls with the employee (and their family) during the recruitment/pre-decision phase. They can then set up any specialized services in advance to meet the executive's needs after the move process starts. Many RMCs even have an elite tier of VIP suppliers who have the training and service offerings to specifically support high-tier moves, with special options that are not typically available at lower move tiers. 

So, if your company is bracing for some significant changes to C-suites, is your mobility program ready?