Don't Confuse Relocation Reimbursement With A Bonus

Many employers offer bonuses or lump sums to employees agreeing to relocate. While this is a welcome benefit, it's important to understand the difference between relocation reimbursement and bonuses.  Bonuses and reimbursable moving expenses are additions to the employee's taxable income, requiring employers to also pay standard payroll taxes such as Federal, State and FICA. In a lump-sum bonus

Are Relocation Packages Common?

Relocation 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.

What Should be Included in a Relocation Package?

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

Productivity: The ROI of Relocation

With all the moving parts that come along with a corporate relocation, it’s easy for employers to forget about one of the most important considerations of the relocation – an employee’s productivity. Every relocation has the potential to lower productivity levels for employees and, in turn, impact a company’s overall performance and bottom line. Fortunately, there are ways to implement relocation

How Tiered Relocation Packages Can Win Big Talent

The ability to attract big talent is one of the principal reasons why companies offer relocation benefits packages; especially when the specific skill sets you desire within the local talent pool are scarce. More often than not, it becomes necessary for companies to extend the scope of their search outside of their immediate geographical area to recruit industry experts from other cities,

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

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

Main Company Objectives During a Relocation

Companies need relocation policies that work for them and their employees. There exists no "one-size-fits-all" relocation policy that works for every employer in every industry. Successful companies design relocation programs that fit their need to recruit and retain talent, meet or beat their competition and fit their relocation budgets. However, there are common objectives companies target

Typical Features of Destination Services in Relocation Policies

Destination services are components of successful relocation programs and include a myriad of features. Whether you internally administer your relocation program or make life easier for your HR department by using a relocation firm, there is one overall objective that supersedes all others: Helping your transferee and his/her family become settled in the new location and home as quickly and as

Should You Use a Standard Relocation Package for Executives?

There’s no avoiding the fact that flexible and comprehensive relocation packages require significant investment. However, quality relocation packages are also necessary to attract and retain the best employees. If you are considering using a relocation package that’s standard for all employees, you should understand that there are both advantages and disadvantages to this approach. Find out

3 Reasons Why a Business Needs a Relocation Policy

Relocation policies are often seen as perks that only benefit the relocated employee. But the closer you look at them, the more you realize that having a well-defined, clear-cut relocation policy in place can also benefit the company that offers it. Here’s a quick look at some of the companywide benefits of an established relocation policy. Find out more about developing relocation policies with