For companies, one of the most significant changes coming out of the pandemic was rethinking how people work and how they’re rewarded for that work. Among those benefits is employee relocation, however, corporate relocation programs aren’t what they were pre-pandemic.
Staying up-to-date with trends in mobility is essential for companies to stay competitive in today’s battle for talent acquisition and retention. For these companies, responding to evolving trends requires a deep understanding to ensure that not only are company goals met, but talent acquisition and mobility objectives are met as well. This is why companies choose to evaluate corporate relocation companies and ultimately enlist the expertise of a relocation management company (RMC). This partnership can help them reassess their current relocation program and ensure it is fine-tuned for today’s marketplace and workforce.
Questions to Ask Corporate Relocation Companies
An RMC can function as an outsourced department of your company, managing the entire talent mobility process and equipping you with the relocation technology to monitor your employee relocation program. To help you establish a partnership with the right RMC for your specific needs, here are questions we recommend you ask during the early stages of your RMC selection process:
- Tell me about your company.
You want to learn about the basics of the company, including its location(s), history, strength, planned growth, and other statistics. You can also ask about the leadership, company structure (for example, parent or affiliate companies) and evidence of the company’s financial stability. Another insightful question is “how does the company differentiate itself in the industry?” Through this line of questioning, you should be able to get a better sense as to whether the company’s values and culture align with your own.
- What is your relationship with your supply chain network?
The RMC’s supplier network is an important component of the relocation puzzle to ensure the move goes as smoothly as possible and supports the needs of all parties. Something to be mindful of during your selection process is that many RMCs are relocation subsidiaries of parent real estate or household goods companies.
Why does this matter? Relocation divisions are created primarily to deliver household goods or real estate referrals to the parent company, whether or not those suppliers are the best choice for the client. To ensure you get support from the best resources, you’ll want to know if an RMC has exclusive arrangements, affiliations, or ownership interest with any of its suppliers. Supplier partners should be comprised of highly qualified appraisers, inspectors, attorneys, and real estate agents, and household goods partners that are selected solely for their quality and value.
- How are accounts managed?
You don’t want to end up with problems you can’t solve because it’s after regular business hours or you can’t reach your relocation counselor because of their excessive caseload. Ask potential corporate relocation companies about their relocation counselor support before, during and after the move so that expectations are clear, and you feel confident that they can support all your domestic and international relocations.
- How does the pricing model work?
Ask how the RMC’s services are priced, what is included in bundles, fee schedules, etc. Transparency into the pricing structure helps to build trust, establish and long term partnership and hopefully reduce relocation costs for your company.
RMCs often bundle core services for homeowners and renters in packages of benefits. This bundled price is less than the cost of choosing the same services a la carte.
RMCs also typically send clients a consolidated invoice on an agreed upon schedule. You can ask if the RMC can customize billing to meet your needs.
- What does the implementation process look like?
It’s common to see relocation company sourcing start because there is an immediate need, for example, an executive needs to begin work in Ireland ASAP. Most RMCs can mobilize to get you through an emergency even before you’re engaged in the formal implementation. However, a full implementation on average will take approximately one month. Ask the potential RMC about what this process includes, timeline and milestones throughout the process.
- Can you provide references?
One of the best ways to get references for a corporate relocation company is to talk to current clients. Don’t be afraid to ask the RMC for a list of clients willing to serve as references so that you can get information and opinions.
Talking to Corporate Relocation Companies
Asking questions can help you find the best relocation management company to work with to meet your employees’ relocation needs. The relocation process can be stressful, and an experienced corporate relocation specialist makes that process much more manageable and comfortable.