Candidates for international assignments are, of course, chosen primarily based on their technical competence and the need for their skills and expertise in the global location. But it is critical that the employee and family are given an opportunity to experience the new location, and that they are thoroughly prepared for life in the new country before the leave home. Pre-Assignment assistance provides the candidate and family with the support needed for a smooth transition. This relatively small expense can safeguard the company’s substantial investment in the assignment. (more…)
Employees who are embarking on a global assignment are usually expected to return home within 3-5 years. Under this scenario, property management is a practical alternative to homesale, since most assignees who expect to return home within a reasonable amount of time prefer to retain their home. Automobiles present another challenge for assignees, but companies typically assist with their disposal. (more…)
In the world of corporate relocation, renters traditionally received less attention and much more limited benefits than homeowners. There were two reasons for this. First, renters tended to be recent college grads, new hires or lower-level employees—at the lower rung of a typical tiered relocation program. Second, from a practical standpoint, this group of employees was easy to move: often single, with relatively few possessions and of course, no home to sell. They needed little assistance to complete their moves.
In planning a move, whether it’s an employee-sponsored relocation or not, most people tend to focus on the costs of selling the old home and moving a house full of goods. The costs associated with buying a new home often receive little attention. But they can be significant, so most companies offer some form of New Home Purchase and Mortgage Assistance benefits to defray the cost and ease the transition. (more…)
In a domestic relocation, the home selling process seems to receive most of the attention yet finding the right home is arguably even more important to a successful transition. The extent of assistance offered by companies varies, depending on the policy tier, homeowner vs. renter status, type of reimbursement and more. Clearly defining home finding benefits at the outset will make the process more efficient and reduce confusion and exception requests.
Considering Employee Home Sales Support Programs
Though the trend has been to offer more lump sums and other relocation benefits short of a full home sale program, home sale services remain a central part of a well-rounded corporate relocation program. Lump sums can help to control costs, and they are certainly simple to administer, but the results are not always what the company and employee expect. Home sale assistance represents a greater commitment to the employee and his or her future with the organization—a fact that is not lost on the employee. And the economic ups and downs of the past decade have resulted in some innovative practices and approaches that allow employers to offer home sale assistance as part of their employee relocation packages while maintaining better control over costs.
Relocating employees are happiest, and costs are lowest, when they are settled into permanent housing as rapidly as possible.
When this is not possible, providing good temporary living services to employees becomes an important part of a successful relocation process. First impressions make a lasting impact, and for employees who are moving their whole lives to a new location, temporary housing will be their first foray into an unknown environment. Seamless planning and execution is crucial to ensure happy and productive employees.
In order for companies to stay ahead of the competition in this global economy, they must leverage and optimize all the tools at their disposal. Talent is the most important of these tools and often proves to be the single greatest differentiator among companies in a crowded marketplace. Talent pools, like the economy, are global in nature today.
Seasoned expatriates can represent a particularly attractive segment of prospective talent as they often share valuable common characteristics that provide companies with key bottom line benefits. For example… (more…)
Representing TRC in the Northeast U.S.
MILWAUKEE, Wis. (February 25, 2016)
TRC Global Mobility, Inc. (TRC) is pleased to welcome a new addition to the company’s global business development team. Chris Ward, GMS has joined TRC Global Mobility as Director, Global Business Development, focusing on the Northeast U.S. region.
Chris gained business development experience at several relocation management companies and developed an in-depth understanding of the global relocation process in corporate roles at Seagate Technology and EMC Corporation.
Chris is actively involved with Worldwide ERC© and regional relocation groups. He served several terms on Worldwide ERC’s Global Advisory Council and chaired that group in 2015. His Mobility article, “Applied Sociology”, appears in the March 2016 issue of the magazine. Chris holds Worldwide ERC’s Global Mobility Specialist (GMS) designation.
Right Talent, Right Place, Right Time
Used strategically, employee relocation can positively impact a company’s competitive position and business performance by getting the right talent in the right place at the right time. Unfortunately, the relocation process can be very complicated and stressful for both the employee and the company initiating it. For businesses, some key challenges are competitiveness, cost control, compliance, and employee resistance. For employees, spouse/partner careers, children, elder care responsibilities, real estate concerns, and family resistance are among the frequent challenges. (more…)