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United Van Lines’ National Movers Study Shows Americans Continue to Move West and South

TRC Global Mobility | January 30, 2018

So where are Americans moving these days, and why are they moving there? United Van Lines’ recently released 41st Annual National Movers Study holds a few surprises. The study tracks United customers’ state-to-state migration patterns during the previous year.

According to the study, Americans are moving westward, flocking to the Mountain and Pacific West, while the Northeast and Midwest continue to lose residents. In 2017, more residents moved out of Illinois than any other state with 63 percent of moves being outbound. Surprisingly, Vermont had the highest percentage of inbound migration in 2017 with nearly 68 percent of moves to and from the state being inbound Read More

Lump Sum Policy Best Practices: Pros & Cons of a Core/Flex Program

TRC Global Mobility | December 27, 2017

When discussing lump sum policy, the core/flex policy is an attempt to provide greater flexibility and a better employee relocation experience for the employee while allowing the employer to meet global mobility objectives and contain costs. A perennial complaint of transferring employees is that relocation policies include benefits the employee neither wants nor needs, but do not include alternative benefits that better meet the employees’ needs.

These benefits go unused, which saves the employer money but can leave the employees feeling like their needs have gone unmet. Occasionally, relocating employees ask to trade undesired benefits for ones that are more relevant (e.g. an extension of temporary housing instead of spouse counseling). Most employers view these request as exceptions to policy and deny them.

With a core/flex program, companies often choose to retain a tiered methodology, with tiers typically differentiated by job grade or homeowner/renter status. There is also a trend to have a dedicated “executive” tier for higher-level employees. Within each policy tier, there are specifically defined (core) benefits. Companies determine which core benefits to include by analyzing historical benefits usage data. The core benefits do not have a monetary cap or limit, but employees must use them exactly as defined in the policy. Read More

Managed Lump Sum Program: Pros and Cons to Consider

TRC Global Mobility | December 22, 2017

A managed lump sum policy is similar to a traditional fixed lump sum except the company specifically defines the benefits covered by the lump sum in its policy guidelines. These benefits are sometimes presented as menu items, allowing the employee to choose benefits that best suit his or her needs. Other companies calculate the lump sum based on the benefits they intend to provide. Either way, the company typically provides relocation counseling (either in house or through a third-party provider) to help the employee use the funds most effectively. Unlike the traditional fixed, any unused funds revert back to the company. The company calculates the managed lump sum amount using the same methods as the traditional fixed, sometimes with the assistance of a third-party data provider.

Pros of a Managed Lump Sum Program

This model allows companies to track benefit usage and spend much more reliably than the traditional fixed. This closer control will also help the company to manage costs better with a vetted network of relocation service partners to ensure optimum pricing and quality. From a tax perspective, the employer can make direct vendor payments, allowing it to treat each of the components individually as taxable or non-taxable. Read More

Lump Sum Policy Best Practices: Pros & Cons of a Traditional Fixed Lump Sum Program

TRC Global Mobility | December 15, 2017

Hands exchanging a fixed lump sum A traditional fixed lump sum policy approach provides the relocating employee with a flat amount of money that he or she can use to pay relocation expenses. Under this program, the employee is usually responsible for coordinating the move details and allocating the available funds. Companies can use several criteria to determine the amount of the lump sum, including: 1) Job or grade level of the employee; 2) Homeowner versus renter status; 3) New hire versus current employee; 4) Historical averages for similar types of moves; 5) Distance of the relocation and family size; and 6) Discretion of the employee’s manager.

Companies can also engage a third-party data provider to determine the amount of the lump sum. The provider will consider current costs, distance, family size and any other parameters set by the employer in calculating a lump sum amount.

A Letter from Worldwide ERC®Asking for Your Support

TRC Global Mobility | November 21, 2017

Worldwide ERC sent the following request to its members on November 15, 2017 asking for support in preserving the moving expense deduction.

Dear Worldwide ERC® Members,

Your industry needs your help. Please write your members of Congress today in support of preserving the moving expense deduction. As previously reported by Worldwide ERC®, the current Senate and House versions of the “Tax Cuts and Jobs Act” would eliminate numerous tax deductions and exclusions including the moving expense deduction. It is critical that your members of Congress hear from you, requesting that they help restore this tool vital to workforce mobility.

Writing your members of Congress will only take a few minutes. Here are specific directions on how to send a letter.

Proposed 2017 Tax Reform and the Substantial Effects it Could Have on Talent Mobility

TRC Global Mobility | November 17, 2017

On November 2, 2017, the U.S. House of Representatives Ways and Means Committee released new tax reform legislation entitled the “Tax Cuts and Jobs Act.” Although currently in review and not yet passed into law, there are portions of the proposed tax law that would bring about a significant shock to the global mobility industry. Because of the impact that this bill as it stands would have on our industry, it is imperative to understand what the current proposals entail and what the consequences would be as we move forward into 2018.

Elimination of the Household Goods Moving Expense and Final Move Non-Meal Expense Deduction

The household goods move for the employee is currently seen as excludable or non-taxable. Under the proposed bill, all of these costs will become taxable in 2018 and corporations will need to determine if they are willing to cover the cost of the taxes (or gross-up) on behalf of their transferring employees. As the household goods move is typically one of the most expensive relocation benefits offered (second only to the sale of the home), the financial ramifications for both the employer and the employee are considerable. For example, if a household goods shipment costs $20,000.00 and the estimated gross-up to cover the taxes on the shipment would be $13,000.00, the employer would face an additional $13,000.00 in relocation fees, and the employee would see $33,000.00 of additional taxable income in their W-2—just for the household goods shipment alone. Read More

Words of Wisdom from the Pennsylvania Conference for Women

TRC Global Mobility | October 26, 2017

By Melissa Seitz Medford, Consulting Service Manager, TRC Global Mobility

Recently I had the privilege to attend the 14^th annual Pennsylvania Conference for Women in Philadelphia. The Conference is self-defined as, “A non-profit, non-partisan, one-day professional and personal development event for women that features dozens of renowned speakers sharing inspirational stories and leading seminars on the issues that matter most to women.” The approximately 12,000 attendees were mostly women, but I was encouraged to see quite a few men as well. As it turned out, the messages at the conference resonated with everyone, regardless of gender. I think they are particularly germane for our employee mobility industry and its female majority.
Read More

The Importance of Involving the Spouse/Partner and Family in Employee Relocation Discussions

TRC Global Mobility | September 21, 2017

Discussing employee relocation Too often, a company identifies an ideal candidate for a role that will require employee relocation and then communicates only with the candidate about the potential relocation. Ironically, the accompanying spouse/partner and family often endure the brunt of the move. Read More

Stacy Hough Joins TRC Global Mobility

TRC Global Mobility | September 12, 2017

– Supporting TRC’s Continued Growth-

MILWAUKEE, Wis. (September 12, 2017)

TRC Global Mobility, Inc. (TRC) is pleased to announce that Stacy Barnette has joined TRC as Manager, Client Relations.

Stacy Barnette joins TRC Global Mobility

As Manager, Client Relations, Stacy Hough will be responsible for the day-to-day management of TRC’s Account Management team. Stacy has nearly 15 years of employee mobility experience, serving most recently as Senior Client Service Manager for a relocation management company. In addition to her client service experience, Stacy has extensive experience in client finance and reporting, gained at several major relocation management companies. Stacy is available at sbarnette@trcgm.com.

About TRC Global Mobility

TRC Global Mobility employees aren’t just knowledgeable talent mobility professionals: they own the company! They understand that your satisfaction and success is their success. So they have every reason to go the extra mile in developing creative solutions for clients and delivering outstanding service to relocating employees. TRC brings clients 30 years of experience, a flat, transparent organization and an independent structure that supports fresh ideas and customized solutions. As an independent company, TRC is free from corporate bureaucracy and preconceived notions. TRC’s talent mobility services enable you to have the most capable people in the locations where they can support your success, in over 150 countries worldwide. Visit TRC at www.trcglobalmobility.com

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Media Contact
Jerry Funaro, SCRP, SGMS-T
Vice President, Global Marketing
jfunaro@trcgm.com
203-644-2704

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Sealing the Deal with Your Corporate Relocation Company: Contract Negotiations

TRC Global Mobility | August 28, 2017

Contract negotiation & signing for corporate relocation companies With the hard work of defining your company’s needs and vetting prospective relocation management companies complete, the final step of the selection process is negotiating the contract with your chosen corporate relocation company. Read More