Moving and Relocation Industry News
Whether you work for a Fortune 500 company or a smaller local business, you’re likely familiar with offering relocation benefits to employees – you might have even used those benefits for your own move. However, your organization might not be aware of the wide range of opportunities and advantages that come with expanding those benefits and offering a comprehensive relocation package.Here are the details to help you in creating such an offering:
Key Components of a Comprehensive Relocation Program
A comprehensive relocation package can give your recruiting team a major competitive edge, help retain top talent and expand your talent market. If you want to build a relocation program to support your recruiting goals, you’ll have to move beyond a lump sum package.
Here are the five key components to consider including in a well-thought-out corporaterelocation program:
Housing Support
Finding a new place to live is one of the most exciting parts of moving, but it also comes with its share of frustrations and obstacles. As part of an extensive relocation package, businesses can help relieve some of the burden from their relocating employees by offering assistance in selling their current home, buying their new one, or finding a rental property. This can look like connecting employees with a local real estate agent or apartment locator.
Your business can also help set up temporary housing for moving employees who need more time to find a permanent home, whether because of the relocation timeline or a desire to live in the area before committing to a location.
Logistical Support
Anyone who has moved before can tell you that a lot of planning and organizing goes into the process. Companies can make relocating more manageable and less stressful for their employees by offering logistical support from day one. By working with a corporate relocation partner, businesses can provide comprehensive moving assistance, like:
- Packing and unpacking services
- Household goods transportation
- Storage
- Managing travel arrangements
Additionally, establishing a single point of contact to coordinate between your organization, the employee, and any other vendors ensures the process goes as smoothly as possible and nothing falls through the cracks. If an employee has a question about or requests for their relocation, they’ll know exactly who to go to.
Family Support
Chances are, a significant portion of employees will be moving with their families. For employees moving with a partner, who will need to plan for how a move will impact their own job, children, parents or all three, there’s a laundry list of details they’ll need to consider for a successful move. Businesses can help by extending support not just to their employees, but to their families as well. This can include:
- Childcare support
- Staggered moving plans for families that can’t move all at once
- Job search resources for family members
- Information about local adult care centers and senior activities
When coordinating a move for an employee with a family, it’s important to ensure all communication is clear and consistent, that you’re offering flexibility at every step and that you’re supporting their family as a whole and not just the individual employee. Taking a holistic approach to employees moving with their families can help them feel valued and cared for, giving them a great welcome to your company or reaffirming their choice to grow their career on your team.
Financial Assistance
No matter the size of the move, the process can be expensive for employees. Offering financial assistance can help lessen the financial burden, making the move more affordable for them and their family. The three most popular ways to provide financial assistance include:
- Lump Sum: A fixed amount is provided to cover moving services and expenses. Employees are typically required to pay the costs upfront and submit a reimbursement form after the move.
- Capped Allowance: A capped allowance is provided to cover all moving services. This option provides the company with slightly more control if they advise the employee which moving company they can use and then let that moving company manage services up to the capped amount.
- Managed Support: With this option, everything is handled for your employee. All costs associated with the move will be scheduled and handled for them, so your employees can focus on work and prepare their families for the transition.
Cultural and Community Integration
Another great way to add value to your relocation package is by offering resources that help your employees seamlessly integrate into their new community. Some resources to consider include:
- Spouse job searching support and career coaching
- Access to pre-vetted real estate agents
- Post-move debris removal
- Home buying assistance
- Access to pre-vetted mortgage brokers
- Childcare assistance
These are support programs that can add value to your relocation program and help your team through the post-move process.
Benefits of a Comprehensive Relocation Program
Offering comprehensive relocation solutions to your employees is one of the best ways to keep your team happy and satisfied in the workplace. Resources and financial assistance can help alleviate the stress, turning the corporate move into a hassle-free experience. A well-thought-out program can also help:
- Reduce employee turnover and retain top talent
- Expand your talent market
- Boost employee satisfaction
- Alleviate stress
- Reduce the financial burden
- Streamline productivity and reduce workplace distractions
- Turn the moving process into a stress-free transition
- Eliminate the risk of “Rogue Movers”.
Allied's Comprehensive Relocation Services
Building a comprehensive relocation packageis much easier with a partner. Allied Van Lines has spent 95 years growing our moving expertise and providing easy, stress-free and high-quality relocation experiences to customers around the nation – and the world. Through our global network of agents, we can offer localized support no matter where your employees’ relocations take them. With support from our parent company, Sirva, Inc., we can offer fully integrated relocation services, including housing and mortgage assistance. As one of the largest single-source providers of relocation services, our team is ready to handle all of your moving needs, no matter how big or small. Learn more.
Frequently Asked Questions About Corporate Relocation Packages
Ready to develop a relocation program for your employees? We've compiled a list of frequently asked questions, so you can start thinking through different benefits you can offer your team.
What is included in a comprehensive relocation program?
A corporate relocation package features a well-thought-out moving timeline and logistical support, alongside temporary housing resources and financial assistance. Some companies also include family support services such as childcare or spouse job search assistance.
How can a relocation program benefit my company?
Providing employees with housing, logistics, and family assistance during a corporate relocation can help reduce high turnover and improve employee satisfaction. Offering these programs can also help alleviate unwanted stress and eliminate workplace distractions.
Why should I partner with Allied Van Lines for relocation services?
Allied Van Lines has been a trusted provider of comprehensive relocation solutions since 1928. We offer a wide range of resources that can help streamline the moving process for everyone involved.
How does housing support work in a relocation program?
There are several ways corporations can offer housing support with a relocation program. Providing temporary housing can give employees more time to find a suitable place to buy or rent. You can also help them through the home-buying and selling process with access to pre-vetted real estate agents and mortgage brokers.
What kind of financial assistance is typically offered in relocation programs?
Capped allowance, lump sum, and managed support are the three most popular ways to provide office financial support through a corporate relocation program. When exploring options, consider your budget and how much of the expenses you want your business to cover.