CapRelo Blog

February Relocation Survey

Posted by Amy Mergler on Mon, Feb 20, 2017

Thinking about changing your relocation program or just curious about what other organizations are doing? Each month, we'll feature a short survey and share our findings along with the next survey the following month. Below are the results for last month's survey and this month's survey questions.

jANUARY Survey Results

1. Does your company have an executive relocation policy in place?

57% of respondents have an executive relocation policy, 20% do not and 14% are unsure.

2. Which of the following features describe your executive relocation policy? (Choose all that apply)

Comprehensive, not complex: 50%
Anticipates problems before they arise: 0%
Addresses real estate issues: 33%
Includes robust Household Goods assistance: 33%
Builds in bonus incentives: 17% 

3. What is/are the goal(s) of your executive relocation policy? (Choose all that apply)

Eliminate distractions for your transferring executive: 80%
Achieve a quicker return to productivity: 40%
Eliminate reasons why an executive might turn down a relocation offer: 60%

 

This month's survey addresses employee relocation costs.  

Create your own user feedback survey

Topics: relocation policies

January Relocation Survey

Posted by Amy Mergler on Fri, Jan 20, 2017

Thinking about changing your relocation program or just curious about what other organizations are doing? Each month, we'll feature a short survey and share our findings along with the next survey the following month. Below are the results for last month's survey and this month's survey questions.

December Survey Results

1. Does your company process relocation-related tax matters in-house or do you out-source?

100% of respondents out-source the processing of relocation-related tax matters.

2. What is your top challenge associated with relocation-related tax matters?

67% of repondents report that keeping current on tax laws is their top challenge. 33% indicate that tax reporting/forms are their top challenge. 

3. If your company provides tax gross-up as a benefit to your transferees, which method do you use for calculating gross-up?

33% of respondents use the flat method for calculated gross-up. 67% did not know which method is used. 

 

This month's survey addresses executive relocation policy features.  

Create your own user feedback survey

Topics: executive relocation package, relocation policies, employee relocation

Are Relocation Packages Common?

Posted by Amy Mergler on Thu, Dec 22, 2016

Relocation SearchRelocation Then and Now

In years past, relocation assistance was offered almost exclusively to higher-level employees or specialized contractors. Today, with a more global economy and better-educated global workforce, the competition for the best talent is stronger than ever; consequently, smart companies are jumping on the relocation benefits bandwagon to attract and keep their best employees.

A 2013 survey by Atlas Van Lines reported an increase of 13 percent over a three-year period among companies offering relocation assistance. Companies are finally catching on to the fact that having a strong, attractive relocation package in place not only makes excellent business and branding sense, but has become a reality for those companies that wish to remain competitive.

Learn more about relocation packages in our free guide.

HR Professionals are Optimistic about Relocation

A 2015 Worldwide ERC® survey indicated an upward trend in U.S. transfer volumes: a 4% increase in relocation for current employees and a 7% increase for new hires. And companies anticipated another increase in the next year 

The Role of Millennials in Corporate Relocation

One thing that can be said for sure about this demographic group that is quickly taking over the workforce: they like to be on the go. Already having overtaken the Baby Boomers in the workforce, millennials are arguably the most technology- and travel-adept generation to every show up on the scene.

Millennials are changing the face of workplaces around the world, as they demand work environments that not only acknowledge their contributions by their need for flexibility and a good balance between work and private lives. In an Urban Bound study, a full 71 percent of millennials also expressed a desire to work abroad at some point in their careers – a fact that shouldn’t be lost on corporate recruiters.

The Takeaway

Relocation packages are increasingly becoming used not only as a way to keep in-house talent happy in the event of a transfer, but as an effective recruiting tool – particularly for globe-trotting millennials, who often relish the chance to travel and broaden their business and personal horizons. If companies find that they’re losing talent, especially as part of a transfer process, then a review of their relocation policies and strategies may be in order to keep up with the changing faces of the modern workforce.

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Topics: relocation packages, relocation benefits, relocation policies, employee relocation

With Relocation Packages, One-Size Might Not Fit All

Posted by Amy Mergler on Thu, Oct 13, 2016

One-size-does-not-fit-all-tag.jpgA single all-encompassing corporate relocation program may be the simplest to administer. However, a one-size-fits-all package may be doing your company more harm than good.

Your relocation packages should be designed to meet your corporate strategic objectives and your policies should be targeted to meet these objectives.

Learn more about developing relocation packages with our free guide. 

What Are The Primary Goals of a Corporate Relocation Package?

  • Assemble the most talented staff possible
  • Make the best hires to help your company perform well
  • Transfer the right people to the right locations at the right time
  • Overcome employee or family resistance to relocation
  • Control and manage costs of your relocation program
  • Offer a relocation package equal to or superior to your competition's program to attract talented staff

Your company and its relocation policy should target these goals, at a minimum. You may have additional objectives that you can add to this brief list.

Problems with a One-Size-Fits-All Relocation Package

Ask yourself some revealing questions before you decide to use a single corporate relocation package that applies to all new hires and current employees, regardless of their needs or position on the organization chart.

  • Are all your employees at the same responsibility level in your company?
  • Are all new hires slotted for identical levels in the organization chart?
  • Are all new hires and current employees single? Married? Married with children? Homeowners? Renters?
  • Is your single relocation package equal to or better than the programs offered by your competition seeking to hire or retain the same talented employees?

If you answered "yes" to all of these questions a single relocation program may suffice. However, in most cases, a company hires and transfers people with different needs, responsibility levels and concerns.

Solutions to the One-Size-Fits-All Problem

While making constant exceptions to your policy for each transferee could become unwieldy from an administrative or cost perspective, having a more comprehensive program that provides different benefits for different employees may be more efficient. Consider the following suggestions to meet your recruiting and employee retention objectives:

  • Use a proven, successful relocation firm to relieve the administrative burden from overworked HR staff who currently manage relocation-related tasks
  • Develop a tiered relocation program, specifying benefits for employees and new hires that fall into different categories of responsibility levels
  • Create some relocation policy flexibility within those tiers to address the specific needs of employees

Each employee has a different personality, background, personal goals and a varied home or family environment. While it's impossible to tailor every benefit to each individual employee, creating a relocation policy with tiers and some flexibility to address specific employee needs is usually attractive to transferees. Setting reasonable parameters for this flexibility helps control costs and creates less stress for your staff and transferees.

Save Time & Money Using Tiered Relocation Packages

Topics: relocation packages, relocation policies

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