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Ways to Reduce the Costs of Your Corporate Relocation Program

Jerry Funaro | November 20, 2020

The pressure to reduce global mobility services costs began before the current pandemic, but Covid-19 is certainly accelerating that process. As we slowly return to normalcy, companies will want to consider how they can preserve some of these cost savings while still achieving their talent management and business objectives.

Cost-reduction initiatives are definitely not one size fits all. In this eBook, we suggest areas to review. And while not all will apply to your company, with almost any corporate relocation program, there is at least some opportunity for cost savings. Read More

Employee Relocation Packages: Home Sales Assistance

TRC Global Mobility | November 11, 2020

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.

CRP? GMS? SCRP? SGMS? The story behind relocation certification.

Jerry Funaro | October 29, 2020

Choosing the right corporate relocation company can be confusing. An important part of the process is assessing the qualifications and credentials of each firm’s relocation professionals and looking at what level of relocation certification they hold.

While conducting due diligence, you will find that some relocation company employees have a series of letters following their names. These represent a professional relocation certification they have earned from Worldwide ERC^®, the recognized industry authority in managing and servicing a global mobility workforce.

If you are an HR or other professional not associated with Worldwide ERC, these designations might be Greek to you. This primer will briefly describe the two major certifications awarded by Worldwide ERC^® and their variations.

Relocation Certification #1: Certified Relocation Professional (CRP)

According to Worldwide ERC, the Certified Relocation Professional is a competency-based designation program for mobility professionals primarily engaged in corporate/employee mobility within the United States. CRPs are recognized for demonstrating a comprehensive knowledge of the principles and practices of U.S. employee relocation across all facets of the industry and their dedication to continuing education in this specialized field.

To earn the CRP designation, candidates must have industry experience and sit for a challenging, three-hour exam that covers policy development and administration, home sale programs, U.S. tax and legal compliance issues, relocation appraising and trends in relocation. To retain the designation, CRPs must earn at least 30 recertification credit hours every three years to remain current on evolving industry trends.

An elite group of professionals has been awarded the SCRP or Senior Certified Relocation Professional designation. In addition to earning and maintaining the CRP designation, the SCRPs have contributed substantial time and expertise for the benefit of the employee mobility industry.

Relocation Certification #2: Global Mobility Specialist (GMS)

Those three letters signify that the relocation professional has specialized knowledge of global workforce mobility and is committed to growing his or her expertise in the field. Professionals with the GMS designation have an in-depth understanding of the various options for international relocation assignments, issues surrounding spouses and families, visa and immigration considerations, tax consequences and much more.

To acquire the GMS designation, candidates complete three training modules and then must pass a comprehensive exam on the fundamentals of global workforce mobility and intercultural management skills. To retain the GMS designation, professionals are required to complete 15 continuing education credits in international management/global workforce mobility every three years.

GMS designees who complete additional training in global mobility earn the Senior Global Mobility Specialist (SGMS) designation. In addition, GMS designees can take a supplemental strategic talent mobility course that focuses on how talent mobility and talent management align. After successfully completing this course and passing an exam, candidates earn the Global Mobility Specialist-Talent (GMS-T) designation.

TRC Global Mobility is proud of our continuing education and training and the relocation designations our employee owners have earned. We work hard to stay in front of issues and trends in the mobility field, sharing this information with our clients to support their business goals.

For more information on selecting a relocation management company, this ebook outlines the steps in a typical relocation procurement process, including: assessing your needs and the level of relocation support you need; issuing an RFIs and RFPs; and evaluating potential relocation service partners and pricing proposals.

Culture Shock—Without Ever Leaving Your Home Country

Jerry Funaro | September 28, 2020

How culture shock can disrupt even intra-country moves…and what you can do about it with employee relocation services

As global employee relocation moves have become commonplace, corporate relocation professionals have gained a much better understanding of the phenomenon of culture shock. They are well aware of its very real consequences for assignees, their families and the companies involved, and increasingly, they take concrete steps to avert or at least mitigate it with employee relocation services, from relocation candidate assessment, to weed out less-adaptable candidates, to cultural training, to help assignees anticipate the challenges and adapt to their new surroundings. Read More

How Business Leaders Can Navigate Remote Work Fatigue

TRC Global Mobility | September 21, 2020

This article was originally published by Worldwide ERC on September 9, 2020. Click here to review the original article.

With everyone constantly connected to their computers, fatigue can begin to set in. Employers must consider strategies that prioritize employee mental health while continuing to collaborate in the virtual setting that may not be for everyone.

Developing a Company Relocation Policy with a Relocation Management Company: What is Important to You?

Jerry Funaro | September 5, 2020

Often, the decision to reach out to a relocation management company (RMC) stems from an immediate need to move an employee. Still, it is worth giving some thought to the bigger talent mobility picture as well. Consider your company’s culture and the type of employee relocation experience you want to provide. Is a happy employee and a seamless experience most important? Is cost-control paramount? Companies typically try to align their relocation support with the level of employee benefits they provide overall. Read More

Top Relocation Companies Serve as Partners, Not Vendors: What the RMC Relationship Should Look Like

Jerry Funaro | August 19, 2020

A relocation management company (RMC) can function as an outsourced department of your company, managing the entire talent mobility process and equipping you with the technology to monitor your employee relocation program. For many companies, this is precisely their objective: to minimize their involvement in day-to-day relocation operations. Other companies prefer a higher level of involvement and consultation, at least for higher-profile relocations. This is always your choice. Regardless, when you need to relocate an employee, you initiate the move by simply contacting your RMC. Read More

Relocation 101: Working with Corporate Relocation Companies

Jerry Funaro | July 28, 2020

Maybe you have found the perfect candidate for a key management role—but she lives in another city or country. Or your fast-growing company might be opening a new location across the country or halfway around the world and you need to re-deploy some of your current employees. These employees are willing to consider a move, but they have asked about relocation benefits.

For many companies, employee relocation begins as a baptism by fire, with an immediate need but little idea of the type or amount of assistance to offer. Often, companies begin by simply reimbursing relocation expenses directly as they occur, which can prove to be a costly yet incomplete solution. Fortunately, help is available from professional relocation management companies (RMCs). Read More

Are Relocation Expenses for Employees Taxable When Paid by an Employer?

Jerry Funaro | July 10, 2020

The short answer is “yes”. Relocation expenses for employees paid by an employer (aside from BVO/GBO homesale programs) are all considered taxable income to the employee by the IRS and state authorities (and by local governments that levy an income tax). This includes household goods transportation, temporary living expenses, miscellaneous allowances, lump sum payments and more. Read More

How to Write a Relocation RFP

Jerry Funaro | June 23, 2020

If you’ve never written a relocation RFP—or any RFP—before, the process might seem intimidating. However, if you take a systematic approach, it isn’t difficult. An RFP need not be overly long, but it should be thorough enough to elicit the information you need when searching for a relocation management company (RMC).

Your objective is to learn more about potential relocation partners, assess their capabilities and decide how well each aligns with your company’s needs, culture and values. You ultimately will weed out those RMCs that are not a good fit and select several finalists. Read More