“Global nomads” have been a fixture in talent mobility almost from the beginning: employees who left their home country years ago and have progressed from assignment to assignment and country to country. While they traverse the globe for their companies, moving from assignment to assignment and operating almost like gig workers, they are nonetheless permanent employees and managed as such. These individuals do not localize, but remain attached to their home country for the majority of their compensation and benefit coverage. Read More
Recent Worldwide ERC® data shows that the average cost for a company to relocate a current homeowner employee within the U.S. is $79,425. International assignments are more complex, and not surprisingly, more expensive, sometimes costing employers $1m or more.
It has always been important for companies to protect this substantial investment, but the continuing talent shortage has added another imperative: your best and brightest employees—the ones you are most likely to relocate or to send on assignment—are prime targets of your competitors. They would be happy to capitalize on your investment in your employees, particularly when it comes to international assignment experience. Read More
A recent SHRM survey on employee benefits found that lump sum payments are the single most popular relocation benefit offered by the surveyed companies. Lump sums are offered by 28% of responding companies, down slightly from 29% in 2017 and 32% in 2016. The survey does not differentiate between lump sums that are one part of a company’s relocation package and lump sums that represent the company’s entire relocation benefit.
The 2018 Employee Benefits Survey, administered by the Society for Human Resource Management (SHRM) in February and March 2018, assessed the prevalence of more than 300 benefits. Human resource professionals were asked whether their organizations formally offered each benefit or had plans to do so in the next 12 months. This report examines changes in the prevalence of benefits over the past five years.
Other relocation benefits most commonly offered in 2018 include temporary relocation benefits (16% of companies), location visit assistance (16%), reimbursement of shipping fees (12%), and cost-of-living differentials (11%). Read More
Leo Capotorto, GMS, MBA Joins TRC Global Mobility as Director, Global Business Development (FOR IMMEDIATE RELEASE)
– Helping companies use mobility to achieve their strategic objectives –
MILWAUKEE, Wis. (August 13, 2018) –
TRC Global Mobility, Inc. (TRC) is pleased to announce that Leo Capotorto, GMS, MBA, has joined the company as Director, Global Business Development.
The following article was originally published by Pete Scott on https://www.worldwideerc.org.
In a letter to the Attorney General of New Jersey released 29 June 2018, the U.S. Internal Revenue Service (IRS) restated and supported the position it took in December of 2017 that prepayments of 2018 property taxes in 2017 are allowable as 2017 deductions only if the 2018 tax has been assessed.
The latest IRS letter makes clear that it is not backing away from its earlier position. The correct answer will eventually have to be decided by the courts.
Following enactment of the Tax Cuts and Jobs Act of 2017 (TCJA), which imposed an aggregate deduction limit of $10,000 on state and local income, property, and sales taxes beginning in 2018, many taxpayers sought to prepay 2018 taxes in 2017 hoping to achieve a full deduction on their 2017 returns. The TCJA explicitly forbade such deductions for 2018 income taxes, but was silent as to property taxes. Read More
Short Term Developmental Assignments (STDAs) are an increasingly popular tool for businesses to accomplish specific, finite projects and to develop employees while containing costs. Domestic STDAs really seemed to take off in the U.S. in the aftermath of the Great Recession. Concurrently, international short-term assignments, which have been on the radar longer, grew in popularity as companies looked for ways to reduce the cost of international relocation. Read More
By Melissa Seitz-Medford, Manager, TRC Consulting Services
At the recent Worldwide ERC® Americas Conference in Dallas, I couldn’t help but notice how many individuals were wearing “first time attendee” name badges. Although this was not my first time at a WERC conference, I thought it was interesting and exciting to see how many new faces there were, and I looked forward to hearing what they had to say.
Forums like WERC provide a wonderful platform for relocation industry veterans and those who may be looking at global mobility with “fresh eyes” to share thoughts, professional challenges and solutions. Given all of the work that goes into producing these conferences, and the substantial investment companies make to participate, it is worth considering how you can make the most of your time at them. Read More
The global mobility industry is challenged by a shortage of talent and skills, supported by innovative technology and automation, and comprised of a variety of demographics and generational preferences. Additionally, it includes organizational transformations and a global community of mobility professionals. Taking all of these conditions into account, Worldwide ERC® developed its new report, The Perfect Storm: Talent Mobility Leaders Decode the Future.
The report includes recommendations for professionals to build their skills as strategic partners and to gain a better understanding of a rapidly advancing global mobility landscape. You’ll also read about:
The passage of the Tax Cuts and Jobs Act in late 2017 and its almost immediate effective date of 1 January 2018 took many in the mobility industry by surprise. One key change, the repeal of the employee moving expenses deduction, left many companies wondering about the tax treatment of three common relocation benefits that historically have been tax deductible for transferees:
• Household Goods Shipment (including pet and automobile shipments)
• Household Goods Storage Expenses
• Final Move Expenses Read More
TRC Global Mobility is sponsoring an upcoming Worldwide ERC Learning Zone webinar on April 10, 2018, presented by Envoy Global. Here is a sneak preview of some of the findings contained in Envoy’s Immigration Trends 2018 report. Click Here to Register for the Webinar.
According to Envoy’s Immigration Trends 2018 Report, 70 percent of employers say sourcing foreign national employees is very or extremely important to their talent acquisition strategy, yet 85 percent of employers say the current U.S. immigration system has had an impact in the hiring and retention of global talent into their organizations.
It’s clear that immigration continues to be an area of focus among employers and the U.S. government. Last year brought forward changes in policy, practice and rhetoric, and, unsurprisingly, the outlook for 2018 is similar, with even tougher restrictions being proposed.
Here are some of the potential changes that may be implemented in 2018. Read More