Relocating an employee can be a costly task for companies, but it is often necessary to keep up with the changing face of the modern workforce. Companies must partner with a packaging service to do all the necessary packaging and pay for the unpacking service once the employee arrives at their new location. They may also provide temporary housing for up to 30 days if the employee is unable to find their own accommodation. In addition, companies may offer reimbursement for child care costs or cover the cost of airfare.
It is important to note that relocation packages are not a legal obligation and what is included may vary between companies and even between employees. Companies are realizing that having a strong and attractive relocation package makes excellent business and brand sense, so it is important to negotiate within reason and understand that not all relocation packages will be negotiable. 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. Companies may not offer unsolicited relocation assistance if it is not requested, so it is important to 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.