CapRelo Blog

What Should be Included in a Relocation Package?

Posted by Rick Bruce on Fri, Nov 11, 2016

You offer a relocation package that HR and senior management believes to be outstanding. But, is it really attractive to current employees or new hires? Are you sure your relocation package is comparable to your primary competitors' programs?

Sometimes, a relocation program appears to be attractive, but doesn't resonate with the affected employees. They may be reluctant to offer their real opinions about your relocation policy for fear of offending HR or senior management. These employees may refuse transfer opportunities or clandestinely seek employment elsewhere.

Learn more examples of relocation package features in our free guide.

Here are some popular relocation benefit components you should consider to keep your relocation package competitive.

Popular Relocation Package Features

  • Auto transportation. Unless your transferee is driving to the new location, getting family vehicles to new homes is vital.

  • Childcare reimbursement. House-hunting trips and the moving process are more efficient and less stressful on the employee if young children are safely protected and occupied.

  • Packing and unpacking assistance. Packing and unpacking employees' personal property is often a physically-taxing additional responsibility for transferee families. Full packing and unpacking services are important features of competitive corporate relocation programs.

  • Home-related services:

    • Multiple house-hunting trips. When moving to an unfamiliar area, one house-hunting trip may not be enough. A second cost-controlled trip is a welcome feature.
    • Lease-breaking penalty reimbursement. Early lease terminations typically trigger penalties, which employer-mandated transfers create. Reimbursing transferees for these penalties is welcome and cost-effective.
    • Final destination home-buying and mortgage help. Another popular feature that may or may not result in an employer expense.
  • Temporary housing and personal property storage assistance. Even after transferees find acceptable new homes, properties may not be ready in time for their scheduled start date. Providing temporary housing and covering the expense of storing personal property is a valuable feature.

  • Spousal employment assistance. Connecting transferee spouses with hiring companies or search firms helps maintain employee family financial stability.

These are but some of the popular features of competitive relocation programs. If your package is missing one or more of these components, consider introducing them to increase the attractiveness of your program.

Even those features that appear to be corporate "budget busters," such as multiple house hunting trips or home sale assistance, can include monetary caps. These are valuable features you can add to your relocation package to make it more competitive and attractive, while still controlling employer costs.

Download

 

 

Topics: relocation packages, relocation benefits, Temporary Housing, Spousal assistance, House Hunting Trips

Relocating Transferees and Their Families -- Special Considerations for Your Corporate Policy

Posted by Rick Bruce on Wed, Jan 29, 2014

You can develop a well-crafted relocation policy that reflects your corporate financial goals and complies with Federal tax regulations. It can promote successful relocations and assure a quick return to productivity for your transferee. Whatever the fine points of your corporate relocation policy, you also need to address the issues involved in relocating an entire family versus a single employee.

The costs you incur in relocating a family are often much greater than those required for a single transferee. Likewise, adequately supporting a family in their new location – especially if it is an international destination – incurs even greater costs. To avoid failed relocations and the loss of funds you've dedicated to the process, take a close look at your corporate policy with these suggestions in mind.

Issues to Consider in Family Relocations

To update an old expression: “A happy spouse makes a happy house.” When the transferee's spouse or partner or children find it difficult to adjust to their new environs and have trouble aligning with a new community or lifestyle – productivity suffers and the likelihood of success plummets.

A two-income family enjoying a particular standard of living at their old location often expects to continue with two incomes that support their established lifestyle at the new one. Yet even domestic relocations can pose employment challenges, especially when the relocation takes your transferee to a smaller community. While your transferee arrives at the new location with a job and a sense of purpose, the spouse may find him or herself feeling isolated and without meaningful employment to fill each week.

Your policy may want to consider spousal support services to prevent those situations. By including provisions in your policy for career coaching you can help a spouse or partner make educated decisions about job opportunities in the new location. These could include an assessment of career opportunities, data on local salary scales, networking strategies and similar help.

For transferees with children, it is the parents' role to help them accommodate to a new school and new environment. However your relocation policy can aid your transferee and spouse by making certain basic services available. These could be as simple as providing information on schools, neighborhoods and community services, including help with determining the availability of in-state tuition for college-bound children. Your policy could provide an area tour of the destination with an operator serving the relocation industry.

 

Download Our Free  Rental Services  Whitepaper

 

By helping your transferee and family deal with questions and concerns, your corporate relocation policy can reduce the possibility of a failed relocation and assure a quick and permanent return to full productivity.

Topics: relocation benefits, Family Relocation, Spousal assistance

New Call-to-action

Subscribe to Email Updates

Posts by Topic

see all