WHAT IS A RELOCATION PACKAGE? When a company offers an employee long-term employment in a location more than 50 miles from the current work location, a company may offer a relocation package. This usually covers the employee’s reasonable moving and other work-related expenses. By offering transferees a relocation package, employers provide comprehensive financial and other types of assistance to
Due to changes in the economic climate, many companies looked to cut costs by offering full relocation benefits packages primarily to higher-level employees, with newer hires and those on the lower rungs of the corporate ladder often left to manage the details (including many unreimbursed expenses) for themselves. In some organizations, employees were reimbursed only after the move for any but
There are almost as many types of relocation packages as there are employees needing the assistance and the companies that hire them. The company’s financial resources and situation, the length of employment, as well as whether the employee is a homeowner or renter also play roles in determining the size and coverage offered in a relocation package. A core or standard relocation package usually
Employers offer a variety of different relocation policies, but most fall into one of two primary categories, sometimes with identical components. Organizations may have a single "one-size-fits-all" policy for all transferees, regardless of their status, title or time with the company. A second, popular policy is a tiered program, with benefits that vary with the employee's status, pay level or
A single, all encompassing relocation program may be the simplest to administer, but using a "one-size-fits-all" package may end up causing your company more harm than good. This video explains how that is possible.
Employers offer different relocation policy varieties. However, most policies fall into one of two primary categories, sometimes with identical components. Employers may have a single "one size fits all" policy for all transferred employees, regardless of their position. A second popular relocation policy is a tiered variety, with benefits that vary with the employee's grade or pay level. Tiered