How temporary housing can fuel the HR engine

A recent whitepaper from McKinsey research indicates that companies that put talent at the center of their business strategy realize higher total shareholder returns than their competitors.

McKinsey focuses on five actions that organizations can take to “maximize their return on talent: build a skills-based strategic workforce planning capability, create a hiring engine that brings in the right talent to fill critical roles, invest in learning and development, establish a stellar performance-oriented culture, and elevate HR’s operating model to become a true talent steward.”

Established corporate housing companies can help support these five actions by delivering flexible, affordable, convenient, and comfortable temporary housing for organizations’ recruitment, onboarding and training initiatives, strategic hiring programs and projects. As part of the total rewards benefit for “must-win” hires, customized accommodations are presented as a solution to allow the employee to acclimate in a new professional role and pursue permanent accommodations without interfering with role ramp-up and productivity. Beyond this return on investment, the value to the employee is translated into improved engagement and a sense of well-being that elevates the corporate brand above competitors.

Even companies who have limited travel since Covid, can enjoy some economies of scale in creating learning and development programs that bring workers together for training or collaborative workgroups, in more centralized spaces that are conducive to beneficial dialogue, problem-solving sessions and team building.

Guests rely on corporate housing to meet their unique requirements, which can range from studio apartments to five-bedroom, manor-style homes.

One size does NOT fit all: Creating customize housing solutions to meet the diverse requirements of any traveler, globally

Curated furnished housing solutions ensure that core amenities are provided: fully equipped kitchens, washer/dryers, microwaves, dishwashers. But beyond the basics, the capability to create customized accommodations of all size, variety, budget and locale ensures that talent-forward organizations are offering options to meet the unique requirements of each individual.

Temporary furnished housing featured in strategic travel programs, continued…

In our Q1 Newsletter, we shared Goldspring Consulting’s Travel Program Strategy* that outlined six significant aspects of any well-developed Travel Program to include 3 C’s and 3 E’s: Cost Controls, Compliance, Care (Duty of) – and Efficiency, ESG and Employee Experience. In today’s Waypoints Newsletter, we address the 3 E’s.

Efficiency – Streamlined travel arrangements such as standardized and automated travel processes can reduce the administrative burden of travel complexities, leading to greater efficiency in managing bookings, expenses, and approvals. This can help increase productivity as employees (and managers) can focus on their work instead of dealing with the complexities of travel planning and logistics.
Ensuring a reliable temp housing partner is prepared to support lodging needs with negotiated rates, select accommodations and prescribed amenities helps reduce cancellation costs, rebooking fees and improve budget forecasting.

Engagement – Happy employees are productive, loyal and contagious! Ensuring employees have comfortable, convenient options for travel and lodging is key to a successful travel program that supports recruitment and retention strategies. Flexible temp housing solutions to support the individual traveler or the traveler with spouse/partner, children or pets is necessary to demonstrate the company’s commitment to all employees and their diverse requirements.

ESG – Environmental, Social and Governance policy can bolster employee buy-in to travel policies that are perceived to have a positive impact to minimize the traveler carbon footprint, consider traveler equity and special needs and that demonstrate purpose, ethics and transparency. Company culture commitment and compliance are intertwined!

About Us

Interim Homes is an established nationwide leader in providing turn-key corporate housing solutions for all government, relocation, insurance, and commercial needs. Established in 1999 and headquartered in Annapolis, MD, Interim Homes offers best-in-class accommodations reflecting its commitment to excellence and a premium guest experience. The team at Interim Homes is comprised of corporate housing experts and real estate professionals carrying a combined 75+ years of industry experience and are active members of the Corporate Housing Providers Association (CHPA) and the Worldwide Employee Relocation Council (ERC). Interim Homes is a certified woman-owned small business (WOSB) and has held its GSA contract with the Federal Government since 2012.