Relocating an employee can be a costly task for companies. Your company should partner with a packaging service whose job is to do all the necessary packaging for you so you don't have to worry. Your company must not only hire your services, but also pay for them on your behalf. They must also pay for the unpacking service once you arrive and settle in your new location.
Another area that a company could cover in a relocation package is temporary housing for a transferred person. If an employee is unable to find their own accommodation within the time allotted to them prior to relocation, their company may pay and provide temporary accommodation for a period of 30 days. This allows transferees a month to find more suitable housing once relocated. Maybe you can cover the packing service yourself if your company can cover the cost of airfare.
Or maybe your company can help you reimburse your child care costs. Be sure to negotiate within reason and understand that not all relocation packages will be negotiable. Companies are realizing the fact that having a strong and attractive relocation package makes excellent business and brand sense, and it becomes a reality to be competitive in today's marketplace. Before you negotiate your specific relocation needs, identify what is currently being offered to you as part of your relocation package.
Since relocation packages are not a legal obligation, what is included may vary between companies and even between employees. If companies discover that they are losing talent, especially as part of a transfer process, they may have a review of their relocation policies and strategies to keep up with the changing face of the modern workforce. When an employee is offered a promotion in another city or the perfect candidate lives somewhere else, companies often offer a relocation package. Fortunately for new employees, companies can generally arrange higher relocation packages because they don't have to pay for hiring as much of a higher salary.
Also, given that 20 percent of employees say they have quit a job after being denied a relocation opportunity, offering a substandard moving experience can be unpleasant for your potential job candidates, causing your company to lose top talent. Companies always use their lawyers to add policies with protections in case you find yourself in problematic situations, so make sure you keep a few things in mind in the fine print before finally accepting a relocation package. Believe it or not, but most companies will also add fantastic benefits such as temporary housing, relocation bonds, and even loss-on-sale protection if you plan to sell your home. Technology employees in leadership positions are encouraged to move to companies that are not willing to extend generous relocation packages that meet their family's needs.
And the company may not offer unsolicited relocation assistance if you don't request it, so again, it's important that you do your due diligence. Offering employees options in relocation packages provides incentives for current and future employees to stay and pursue careers within a company. When you extend a job offer to a candidate and begin the relocation process, you want to make sure that the company you partner with is both an extension and a reflection of your workplace. But perhaps more important than saving you money, a relocation package is a recruiting benefit that your company offers as an investment in you.
Shyft combines the logistics management of relocation technology with the personalized service you can only find with concierge companies. If a relocation company is used to purchase the home through a GBO and a third party buyer offers a higher price, a modified value option (AVO) can be used. .
