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.
Author: TRC Global Mobility
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
TRC Global Mobility Completes Sale to ESOP
– Company Now 100% Employee Owned-
MILWAUKEE, Wis. (October 18, 2016)– TRC Global Mobility, an employee talent mobility company providing services for U.S., international and government clients, announced today that it has transferred 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).
An ESOP is a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company. TRC Global Mobility Chairman and Founder Paul Haislmaier finalized the sale in September 2016. Read More
Employees on international assignments typically observe the holidays of their host country location, which is sometimes a bit of a surprise for the expats. They might be American citizens working for an American company in its Paris office, but they will be celebrating not U.S. Independence Day but French Bastille Day! They usually receive the same paid time off they received at the home location, but sometimes local laws or practices dictate a different arrangement. Employees on assignment also are given allowances for at least one trip home per year. Read More
While most of us struggle with taxes in our native country, imagine what it must be like trying to determine your tax obligation in another country. Making sure you stay square with both the home and host countries requires professional assistance so most companies offer tax services as a part of their general employee relocation services package.
Shipping personal goods can represent a significant expense for companies and a significant source of stress for expatriates. Careful counseling is important to ensure employees do not move goods they will not be able to use in the new location (e.g. televisions; excessive or very large furniture that will not fit in the destination housing; and very heavy and bulky items, like pool tables).
Most goods are typically shipped by sea, with a small air allowance for items that will be needed immediately.
The first few days of an international relocation tend to be exciting yet trying. To reduce stress and help employees adjust to their new environment, most companies provide a series of destination and settling in services to the families. Usually this means allowing employees to spend two to four days at their new location handling all of the time-consuming errands that need to happen before they can begin getting into a routine. Read More
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. Read 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. Read 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.