The company may also connect you with local real estate agents to make house or apartment-hunting easier. Another expense that employers may cover is the connection fee for utilities in your new home.
Transportation can be very expensive, especially if you need to ship your possessions across the country or internationally. In addition to covering airfare, a rental car and other travel expenses, your employer may offer to pay to transport furniture and other belongings to the new location. Once your property has been moved, there's often a delay before it can all be moved into the new home. Sometimes relocation is temporary, and you may only be in the new location for a year or two.
In this case, it may be advisable to store personal property for that time until you return. A relocation package may cover the costs associated with storing property over either a short- or long-term basis.
Multinational organizations frequently need to move current employees or new hires to other countries. Relocation packages often include help with various aspects of moving overseas. This could include trips to the destination country to find a new home and take care of other aspects of moving abroad.
Companies may offer practical as well as financial support, such as helping to find schools for your children or simply assisting you as you navigate the complexities of setting up a home in a new city. Many companies will help with obtaining work visas for spouses and may offer other help to assist your partner or family members in finding work. While most employers will have a standard package of relocation assistance benefits, you can often negotiate for a package that suits your needs better.
Follow these steps to negotiate for a relocation assistance package that provides you with everything you need to move. The first step is to find out what kinds of relocation assistance are typical for someone in your particular situation.
Ask yourself what you might need from a relocation package. A huge part of satisfying your new employees when relocated is being open to their suggestions. You need to be willing to negotiate relocation assistance.
If you go into negotiations with a stubborn demeanor and closed mind, you may jeopardize the recruiting process. Be sure to be open to offering some extra, more flexible funds to make your employee happy. Building out a great relocation program is the key to ensuring the happiness of your employees. At UrbanBound, we can help you build out a truly flexible policy that can work with any employee need.
Contact us to learn more. A relocation package can include a variety of different benefits. But many companies do! You know how soda and pop are two different words for the same thing? Well, think about relocation package and relocation assistance like that. A lot of companies use the phrases interchangeably. Relocation packages can vary depending on the size of the company, their policies on relocation and how often they relocate their staff.
Here are the different types of methods companies often use:. Want your money up front? The company gives you a lump sum which allows you to organize and pay for your move however you like. But if you go over that cap, anything extra comes out of your pocket. We recommended starting there.
The ultimate goal for most companies is to pay as little as possible to relocate an employee while ensuring they feel comfortable, cared for and ready to hit the ground running in the new job. Another concern that's less openly discussed is how the relocation policy reflects on the reputation of the company. Most companies see relocation as a valuable recruiting tool, so a bad or nonexistent policy could hurt their chances of attracting top talent in a competitive job market.
If you've got another offer on the table that includes relocation, but the job you really want doesn't, mention it. Be specific about the nature of the relocation support the competing offer includes, and ask the company you want to work for to match it. The worst they can say is no. Another handy tip? Relocation is an area in which companies are more willing and able to negotiate because salary is a recurring expense and thus a bigger commitment while relocation is a one-time expense that, in some companies, comes from a different budget.
The best way to get what you want when negotiating relocation is to explain how the money spent on your move will ultimately benefit the company. You know it would be almost impossible to sell, move and report to the new job in less than a month. You make a request for home sale assistance and temp housing, explaining these services would free you to focus on the move and ensure an on-time start date.
Keep your talking points clean, rational, and concise to win the day. Depending on the company, the package may also include loading, unloading, insurance and full packing. In some instances, the moving company your employer hires will require a full pack in order to provide insurance in the event anything is lost, destroyed or damaged during the move.
Even if you're not a homeowner, there are other services you may benefit from, including:. What they all have in common is that services cost money. A relo package can take the form of a lump sum, reimbursement, direct bill or third party relocation. As the name implies, a lump sum is when the company gives you a set amount of money to spend however you want in order to get you, and all your stuff, to the new city. A reimbursement is when the company agrees to pay you back for some or all moving-related expenses.
Lump sum: a pre-negotiated, fixed one-time payment provided by the company for moving-related expenses. You decide how to spend it, but once the money's gone, it's gone. Reimbursement: a maximum amount that the company will reimburse for moving-related expenses. Get ready to save your receipts. Direct billing: when the company pays all or some expenses directly, often used when the company coordinates moving services.
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