Research shows that the cost of losing just one PhD or professional within the first two years can range between $250,000 to well over $1 million. The #1 reason cited for losing this same professional is that the spouse/partner of the original hire has not been adequately accommodated in terms of career placement. Running a close 2nd is the inability for families to acclimate well to the new region. This type of professional and personal isolation for relocating professionals can be devastating, often leading to early resignations in an attempt to bring some normalcy back to the family life. A unique aspect of the Capital Resource Network program is that each member organization commits to high-level informational networking interviews for spouse/partners within the consortium. In doing so, it begins the valuable process of building a regional professional network which will increase job prospects and build meaningful and influential ties to the area.
By making both professional and personal connections for these newcomers, employers are able to recruit high caliber candidates and ensure a higher rate of retention. As the region becomes more attractive for incoming business and the top talent they will employ, overall regional economy improves which enhances the area’s ability to become a sought-after employment destination.
The uniqueness of CRN services is its regional network. CRN is not managed by a remote, global company that uses independent consultants. It is comprised of regional employers referring to each other, regionally based employees and regional resources and service providers working together for a common experience and positive results.