Designing a core-flex policy takes time and work. Nevertheless, by committing to creating a comprehensive program from the start, making periodic updates and adjustments becomes easier. It’s advisable to establish several factors up front:
Competitive Core-Flex Policies in Specific Industries
HR departments and mobility managers should begin by researching what their competition provides in terms of mobility benefits. Because mobility benefits are critical to attracting top talent, knowing what competitors offer will provide some guidance about the services to include, as well as the average budget for each. Of course, it may be challenging to find this information, so consulting with an experienced global mobility company to gain insights about the components of the average core-flex policy can be helpful.
As we’ve seen, household goods moving, travel costs and other benefits the company considers critical are standard core components. Depending on the company’s needs and budget, relocation counseling, visa and immigration services, tax equalization, lease services, temporary housing and home-finding assistance may also be included, especially for long-distance and international moves.
Flexible Services Offering
Flexible benefits can include home finding trips, home sale and home purchase support, property management, mortgage assistance, temporary living, spousal support and career services, child and elder care assistance, language training, cross-cultural training, school search assistance, pet transport, vehicle transport, lump sum assistance and tax services.
Note that whether a service is categorized as a core component or an additional service depends entirely on the employer. Companies in competitive markets that want to surpass the competition may decide to include more services in the core component to attract more talent.
This is determined by factors such as employee seniority, family size, relocation distance, international travel and homeownership. It should be clear that most companies will allocate a larger budget to senior managers than junior employees, that homeowners need more support than renters and that international moves have different core and flex needs than domestic ones.
Flexible Services Selection
Given the sensitive nature of these selections, a global mobility management company can be a key resource in these discussions and in providing recommendations and guidance to both the employer and employee. HR professionals and even supervisors may not have a full understanding of their employees’ personal lives and their corresponding responsibilities. For example, a manager might not know that a transferee cares for a disabled parent or that an employee wants his or her children to attend a specific kind of private school. In short, it’s essential to give employees a say in determining which services he or she receives and come to an arrangement that suits both employee and employer. The expertise and experience of a global mobility management company can be helpful in providing advice on which flexible services companies may want to consider including in their policy.