All major events bring unanticipated consequences, and the coronavirus pandemic changed how and where we worked and collaborated. In some cases, it accelerated trends that were already underway. Incredibly, all of this happened within the span of a few months! Read More
Category: U.S. Relocation
Effectively managing a company relocation policy and the program costs requires a comprehensive approach. You must first consider your company’s culture and overarching talent management objectives, as these give you a sense of the degree of cost control that might be possible. Ultimately, your plan will likely include a combination of smaller adjustments and refinements and larger policy shifts.
For some companies, it is easier to phase in more sweeping changes over several years. This approach also allows you to analyze the preliminary results and refine your plan as needed. A successful initiative will reduce excess costs, better align your relocation benefits with employee needs and expectations and support your talent and business objectives. Read More
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
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.
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.
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
The 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
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
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
After 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