With more and more companies looking for creative ways to save money, many have turned to their relocation policies for areas in which to cut costs. One trend that has gained in popularity recently is the temporary domestic assignment (TDA).
The IRS defines a short-term assignment as one that lasts for less than one year. This is a very important distinction because the benefits change from non-taxable or deductible to taxable at the one-year mark. Companies that provide relocation tax assistance can save a considerable amount of money by not having to pay taxes on the benefits. Read More
Most companies understand the importance of candidate assessment for global assignments, and many tools exist to gauge the adaptability of the candidate and family. Increasingly, companies that want to protect their investment in a domestic move are applying the same thought process and using some of the same tools.
A Resume Isn’t Enough
Most of the time, whether for a global or domestic move, the first consideration is technical competence. Can the candidate do the job? While this is obviously critical, our global experience has shown that without the proper cultural fit and adaptability, the assignment is likely to fail.
The Benefits Of Benchmarking Domestic & International Relocation Policies
Companies benchmark their relocation policies to analyze process performance, evaluate their program against their competitors’ or to measure their program against their own divisional or location-related best practices.
If you have a mobile workforce, benchmarking your domestic and international relocation policies against the competition and other selected companies is critical, and your relocation management company can be a great help. Relocation management companies use technology to capture and evaluate data across many clients. They evaluate this data and share their insights with clients who are assessing their mobility programs. Read More
We expect to experience some degree of culture shock in global moves, and often provide cultural training to help mitigate it. But culture shock is rarely acknowledged for moves within the same country, and support to manage it is even rarer. Since neither companies nor relocating employees expect domestic culture shock, the situation becomes even more confounding. Read More
Destination mentors play a very important role in helping your employees to get acclimated quickly during an employee relocation. In order to be most effective, your organization needs to carefully consider what type of mentor you wish to provide, and what kind of relationship he or she will have with the employee.
Culture shock is a well-known phenomenon in global relocation. However, many companies fail to recognize and address culture shock when it happens closer to home. Employees moving North to South or East to West within the same country are actually just as likely to experience some form of culture shock as if they had moved around the world, though perhaps not to the same degree. The difference is how we treat them.
You may have heard that TRC Global Mobility recently became an employee-owned company. What, exactly, does that mean if you are a TRC client or prospective client?
Employee ownership empowers employees. By giving employees the autonomy and flexibility to make judgement calls based on the customer’s needs, we streamline processes and increase customer satisfaction. Our employee-owners know that their actions affect their customers, and ultimately, the success of our company, and they take ownership of their decisions. In short, your success is their success. Read More
With such a major investment at stake, candidate assessment has become de rigueur for international assignments. But relatively few companies apply such a rigorous assessment to a potential domestic relocation. While the cost of most domestic relocations pales in comparison to a typical global assignment, it is still substantial. And a failed domestic assignment can have the same repercussions for the company: a loss of investment and talented employees.
Relocating abroad presents challenges, but often the most difficult part of an international assignment is returning to the home country. The sad reality is that more than 25% of international assignees leave their employer within two years of returning home.
With such a substantial investment in each international assignment, it’s wise for companies to plan for a successful re-entry from the beginning of the process. Aside from closing out the host country household and moving the family back to the home country, companies should consider potential reverse culture shock issues the assignee or family may experience as well as the employee’s career path. Read More