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Working Remotely in a Different State Could Mean Tax Headaches

Jerry Funaro | March 19, 2021

At the beginning of the Covid pandemic, just five percent of American white collar workers worked remotely full time. By the end of 2020, it was two out of three! With an open-ended break from the office, some opted to work remotely from a different state—often one that was warmer, cheaper or closer to family.

While traveling to another country became all but impossible, taking off for another state seemed simple enough. Few employees gave any thought to tax considerations and many saw no need to tell their employer about their plans. Read More

TRC Global Mobility Announces Management Promotions: Stacy Hough, VP, Client Services and Jodi Bischoff, VP, Finance

Jerry Funaro | March 8, 2021

MILWAUKEE, Wis. (March 8, 2021) – TRC Global Mobility, Inc. (TRC) is pleased to announce that Stacy Hough, CRP has been promoted to Vice President, Client Services and Jodi Bischoff, CPA has been promoted to Vice President, Finance, effective immediately. Both join TRC’s executive team.

Stacy Hough will work to ensure that TRC delivers an outstanding customer experience, building strong client partnerships while helping to plan department strategy and goals. She will also ensure that new TRC clients are implemented effectively and efficiently and serve as an executive-level liaison to TRC clients. Read More

How to Become a Relocation Expert in Four Easy Steps…or Just Look Like One!

Jerry Funaro | February 12, 2021

Many companies today lack in-house relocation experts and little or no experience with corporate relocation. They identify the perfect candidate for a position—but she lives on the other side of the world. Or they need to move a current employee to a different company location as soon as practical, but they don’t know where to begin. Forced to make decisions quickly, and with limited knowledge, they can easily over or undershoot the relocation benefits package, incur unnecessary taxes, run afoul of immigration laws or incur a host of other problems.

Though the employment market has been disrupted by the COVID pandemic, the long-term trend of talent shortages continues unabated. Employee relocation can be a powerful tool to help your company recruit and retain talent—but where do you begin? It is far better to have at least a basic relocation policy and program ready for use when needed than to risk losing a prized candidate or delaying the start of a project. Read More

C-Suite Executives Weigh Company Relocation, Remote Work, and Vaccinations

TRC Global Mobility | January 28, 2021

This article was originally published by Worldwide ERC on January 21, 2020. Click here to review the original article.

Survey research shows that C-suite executives are considering moving their companies to cheaper locales, while also weighing their options for remote work, vaccinations, and more.

In a survey of 150 C-Suite executives, consulting firm West Monroe found that more than a quarter of respondents are considering moving their operations to another cheaper location. This is one of the major implications of the overall shift to remote work, a key strategy to keep employees safe as the COVID-19 pandemic continues. However, for some companies, this shift away from the office has proven difficult. Respondents’ reasoning for considering a big move included high costs of talent and living in their respective locations, as well as taxes, real estate, and regulations. Read More

International Corporate Relocation Services Best Practices: Compensation & Benefits

TRC Global Mobility | January 16, 2021

American Dollar Bills

For all the value they can bring to an organization, traditional international assignments come with a daunting price tag. In response, companies have been trimming relocation benefits and costs for several years, making the packages less generous for assignees and less costly for employers. Certainly, there is much more variation in the assistance offered to assignees than in the past.

Employees today are more likely to see an international assignment less as a hardship and more as a career- and life-enhancing experience—and they are more likely to seek out these experiences with fewer incentives. Of course, benefits vary depending on the company’s policies, culture and competitive environment, the employee’s seniority and the assignment location. The goal is to deliver the support needed without providing a windfall. Read More

How Will Employee Relocation Emerge from the Pandemic?

Jerry Funaro | December 21, 2020

It is safe to say that none of us will be sorry to see 2020 end? The year brought personal and professional challenges for almost all of us, and real hardship for too many families.

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

Opportunities for Cost Reduction within Your Company Relocation Policy

Jerry Funaro | December 14, 2020

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

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.

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