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A primer on home finding assistance in relocation packages

TRC Global Mobility | November 20, 2015

Corporate relocations entail more than a new job position. The list of items that come into play for any relocation is long, but at the top is usually finding a new place to call home.

Most corporate relocation packages include some type of home finding assistance. The benefit can vary considerably, from a lump sum to a full-service, escorted area orientation, depending on the company and sometimes the employee’s position.

Regardless of the scope of the program, the goal of TRC Global Mobility is to make the relocation as stress-free as possible and provide expert, professional advice throughout the process. Read More

Partner career assistance can mean the difference between a successful and a failed assignment

Jerry Funaro | March 23, 2015

Family considerations, including the spouse/partner’s career, have traditionally been the number one reason for reluctance to relocate. According to Worldwide ERC®, real estate concerns eclipsed family and career considerations during the Great Recession (imagine having to sell an “upside down” house and give up a spouse/partner’s job during a recession), but as the real estate market recovers, personal issues are again rising to the forefront.

Dual-career families have become the norm. Ozzie and Harriet are gone: according to the U.S. Census bureau, men are the sole breadwinners in only one out of four married couples. So even with a great offer on the table, most families are reluctant to embark on a relocation unless the spouse can either continue his or her job in the new location or find a new one. International assignments bring special challenges as many countries limit or outlaw spouse employment. Read More

Employee perks beyond the Thanksgiving turkey

Jerry Funaro | November 24, 2014

As a global relocation company, TRC Global Mobility has discovered some of the perks our clients offer their employees. Today, we share some of the best we’ve come across.

Full-service relocation: While many companies have been attracted to the simple administration of lump-sum payments, these programs do tend to offload a lot of responsibility onto the relocating employee, which can increase distraction and slow the relocation. Recognizing this, many companies continue to offer more comprehensive Buyer Value Option or Guaranteed Buyout services. These more complete home-selling programs can be augmented with services that meet the employee’s unique needs, such as pet transportation, and make the moving experience less stressful. Read More

Why Cafeteria Relocation Benefits Are Making a Comeback

TRC Global Mobility | November 20, 2011

Part 2: Cafeteria Relocation Benefits – Cost Savings

The Potential for Relocation Cost Savings

As we mentioned in the prior blog, a desire for flexibility is the most common reason for companies to embrace a cafeteria approach. However, the potential for cost containment can be another powerful motivator.

In a typical relocation program, companies might be providing “one-size-fits-all” benefits that employees neither want nor use. In a cafeteria program or a hybrid tiered/cafeteria program, benefits tend to be better aligned with actual needs, frequently with a cap on the total benefit amount. According to the Worldwide ERC® survey, Relocation Assistance: Transferred Employees, 45 percent of companies using a cafeteria approach place a ceiling on the value of the selections made. That figure has increased from 39 percent in 2004; the ceiling typically depends on the job level of the employee.

For companies more focused on cost containment, cafeteria menu items often are tied to the core home selling and home finding processes, with limited “soft service” options. An example would be a self-move package for a new hire.

Who Selects the Benefits?

A cafeteria approach does not necessarily mean that the transferee has the deciding vote. In fact, the Worldwide ERC survey, Relocation Assistance: Transferred Employees reports that in 84 percent of organizations with cafeteria plans, the business unit or division selects the specific benefits. This helps balance the employee’s wishes with the competitive environment and allows the company to tailor benefits to attract the best candidates for the position.

Why Cafeteria Relocation Benefits Are Making a Comeback Part 1: Flexibility

TRC Global Mobility | October 26, 2011

With so many impediments to relocation today, from traditional issues such as spouse career concerns to more recent problems such as “upside down” homes, companies, employers and relocation management companies are clamoring for a more creative, flexible approach. Without creativity and flexibility, many moves simply won’t happen.

This is where “cafeteria”-style relocation benefits come in. A cafeteria approach can help meet employees’ needs for flexibility, control overall program costs, and most importantly, enable companies to achieve their business objectives in a challenging environment. Cafeteria relocation benefits had a flash of popularity in the 1980s and 1990s but faded from the spotlight as more structured, tiered polices gained favor. Read More