De-location. You’ve seen it in the news. You’ve heard people talking about it. But what is it exactly? In light of the pandemic, many companies have been unable to take advantage of their business real estate and the resources within. Employees have been making do with what they have at home. And, after a couple of months of this, companies are beginning to see the advantages of a completely remote workforce. Which has opened the door for a lot of options. So what comes next?
Several companies, including Twitter and Shopify, have made announcements of going fully remote until further notice. Some even have further plans of continued remote work. Not every company, or industry for that matter, has this flexibility. Businesses in the tech sphere appear to be quicker to adopt remote work. Some companies gone beyond remote work to offer employees a different option.
Employees aren’t required to come into the physical office. In fact, they’re being paid to get away from it. Companies offering de-location packages to new hires are giving them a stipend to live in any place of their choosing.
Zapier, for example, is providing new employees $10,000 to move anywhere from their home base in San Francisco. The impetus behind that move is simple. The cost of living in San Francisco is exorbitant, to the point where even top talent is looking for an out. And that’s exactly what they’re finding at Zapier.
De-location is an opportunity for the new employees to start fresh somewhere else and for the company to attract top talent. It’s also an opportunity specific to the flexibility of remote work.
Relocations typically occur because employees are moving to a city where an office exists, or to a new role at a different location. De-locations are almost the opposite. Take a job with our company, and we’ll help you work anywhere. And, if Zapier is any indication, that brings a significant interest from the talent pool. The company saw an increase of around 30% in applicants.
If your company likes the idea of increased interest from top talent, but can’t get over the remote work aspect, you have some things to consider. How has your company handled working remotely during the pandemic? What are the benefits of returning to your previous method? What are the benefits of working forward or continuing to work in the way your company has adapted to without expecting a return to the way work used to be?
Now is the time to look at your company culture and employee satisfaction. What are they finding beneficial? Are they finding any detriments? What do they miss? Can your company supplement that in other ways? Take a look at where your company is headed and where you want it to go. You might find remote work can help it on its way.
Employees working remotely full-time are doing so at a personal expense. The internet they use, the kitchen table they’re seated at, maybe even the devices they’re using, are all their own. If those are essential to your company’s continued function, and even success, they should be reimbursed for them. You can learn more about what that looks like here.
Maybe that’s a question you’re asking yourself. Maybe that’s a question you’ll be asking potential employees. If you decide to offer de-location packages, they don’t have to be $10,000 to be practical. Accurate data specific to an employee’s desired living community will help a company find the right amount to offer for a de-location. Learn more about how we can help you bring in new talent with cost of living information and more.