Gen Y craves autonomy, transparency and choice in their lives. Learn how these concepts can this be applied to relocation policy and technology.
As the first generation to have grown up in a fast changing, technology-centric world, Gen Y employees expect to use technology in their professional lives in much the same way as they do in their personal lives. As consumers, this generation has seen the widespread digitization of industries like retail and travel, and expects to be able to transact digitally on their own terms at their convenience.
Similarly, Gen Y seeks control over their career planning, and is fast learning that international experience is a vital piece of the puzzle to achieve their goals of rising through the ranks of international businesses. Gen Y employees are not disillusioned by the lavish expat packages of the past, and no longer expect huge financial reward for international placements, instead seeking experience, flexibility, and career and personal development. More often than not the expectation is that they will be remunerated with a local salary package and will receive some assistance with relocation costs; they do not expect nor want to have their hands held and decisions made on their behalf. Our research shows that 74% of people want to book services online themselves versus just 2.7% of people who want an external party to do it for them, highlighting the need for new mobility solutions to cater to this independent generation.
This, in turn, has led to many companies moving away from traditional expat packages, and instead offering employees a lump sum budget with which to cover their relocation expenses to cater to this new independent demographic. Serving as a single line item on balance sheets, lump sum policies can help to address cost overruns for businesses, whilst also giving Gen Y the autonomy they crave.
Fiercely independent, Gen Y employees expect to utilize many of the features of the consumer web, such as social networking, transparent pricing and comparison, and customer reviews, to book services related to their professional lives. This concept applies directly to their relocation experience, with Gen Y employees wanting autonomy, transparency and choice when it comes to allocating their relocation budgets. They want interesting content, on-demand access, and a clean and user-friendly web experience, just like they get in the consumer world.
Here at MOVE Guides we have all lived and worked abroad, and recognize the challenges faced in facilitating a smooth transition for high performance employees. In response, we built a product tailored to autonomous, price sensitive employees. Our cloud-based portal allows employees to learn, compare and book the services they require for their move, at their own convenience, whilst still providing the support they desire, on their own terms. Their custom MOVEHub can be accessed any time, day or night, and support is available to answer pressing questions by phone, email or live chat right from the website.
We believe that employees should have the ability to decide how, when and where they will plan their move. Our expert City Guides are available on demand and help movers to familiarize themselves with their new city before they arrive, allowing them to acclimate and start planning where to live and how to budget.
We provide a fully vetted supply chain with transparent pricing for employees to compare service providers, offering the ability to compare like with like, in a straightforward way, in one easy place. When it comes to booking services, employees want the opportunity to make their own decisions about how much to spend on their relocation services, and who with. This allows each individual to make decisions and tradeoffs based on what is preferable for them. Gen Y no longer wants the ‘one size fits all’ model, and our customized MOVEHub allows employees to personalize their move to suit their needs.
Get in touch today to learn how we can help you to cater to the relocation preferences of your Gen Y employees!