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Ways to Reduce the Costs of Your Corporate Relocation Program

| November 20, 2020

American Dollar BillsThe 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

| November 11, 2020

Employee Relocation Package - Home Sales AssistanceConsidering 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.

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

| October 29, 2020

profitable deal

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.

relocation 101 ebook

 

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.

 

 

How Business Leaders Can Navigate Remote Work Fatigue

| September 21, 2020
remote work exhaustionThis 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.

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

| September 5, 2020

developing company relocation policyOften, 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

Relocation 101: Working with Corporate Relocation Companies

| July 28, 2020

Man pressing on digital screen - pre-decision planning programMaybe 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

Worldwide ERC Supports Workforce Mobility Relief to Bolster Economic Recovery

| July 16, 2020

tax reform workforce mobilityThe U.S. economy has lost 15 million jobs since February 2020 and the unemployment rate, while improving, stood at 11.1% for June 2020—a historically high level. Before the pandemic and the onset of the current recession, the unemployment rate was around 3.5%—a 50-year low.

Public and tax policy can facilitate workforce mobility, helping job hunters to become re-employed and employers to engage the talent needed for growth. Unfortunately, more recent legislation, such as the 2017 Tax Cuts & Jobs Act, has actually made mobility more costly and less attractive, by eliminating popular tax provisions widely utilized by companies and relocating employees. Read More

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

| July 10, 2020

relocation expenses for employeesThe 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

| June 23, 2020

corporate relocation RFPIf 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

Implementing a Talent Mobility Program with Corporate Relocation Management Services

| June 9, 2020

corporate relocation management services partnerAfter your company has completed the preliminary steps of the RFP process and reviewed the final presentations from prospective corporate relocation management services providers, you will be ready to evaluate pricing proposals and proceed to contract negotiations. Once the contract is signed, your new provider will work closely with you to implement your new program. A successful partnership will strengthen the competitiveness and success of your employee mobility program.

Following are some tips on working through pricing and contract negotiations with a corporate relocation management services partner. Read More

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