Relocating corporate executives has unique challenges, above and beyond relocating middle management or other employees.
Sometimes, the stress of relocation leads to executive burnout, distraction, and C-level executives not living up to all the hype. Additionally, upper management and C-level executives are less inclined to sell their homes and move in today's real estate market.
An article in the Wall Street Journal notes that only 6.9% of unemployed managers and executives who found new jobs in the third quarter of 2010 relocated for the position, compared to 13.4% in Q3 2009. These are executives without jobs; executives with positions already may be even less willing to relocate.
What's the solution?
What Executive Relocation Services Can Do
Executive relocation services through a full-service corporate relocation company like CapRelo can smooth the transition for relocating executives by negotiating relocation packages and working with executives to ease their primary concern in most cases—the sale of their home.
Because CapRelo gets your company the best value and highest quality of service through our non-exclusive supply chain partners, you'll be able to afford to keep relocating executives happy while staying within your relocation budget.
Some incentives available to relocating executives might include:
- loss-on-sale programs
- bonuses for quick home sales
- affordable but luxurious temporary living
Is It Appropriate to Offer Loss-on-Sale to Top Execs?
According to the Wall Street Journal report, some publicly-held companies have come under fire for offering loss-on-sale reimbursement to corporate executives. However, the cost of the loss-on-sale benefits must be weighed against the long-term financial ramifications of losing executive talent. Twenty-eight percent of larger companies still offer loss-on-sale benefits to employees
A company that specializes in executive relocation services can help you weigh the costs and benefits and make a wise decision for the future of your company.