Maybe you have found the perfect candidate for a key management role—but she lives in another city or country. Or your fast-growing company might be opening a new location across the country or halfway around the world and you need to re-deploy some of your current employees. These employees are willing to consider a move, but they have asked about relocation benefits.
For many companies, employee relocation begins as a baptism by fire, with an immediate need but little idea of the type or amount of assistance to offer. Often, companies begin by simply reimbursing relocation expenses directly as they occur, which can prove to be a costly yet incomplete solution. Fortunately, help is available from professional relocation management companies (RMCs).
Latest eBook Answers Frequently Asked Questions About Working with Corporate Relocation Companies
In the latest eBook from TRC’s global mobility specialists, companies can get a comprehensive overview of what RMCs do and how to work with them. The eBook answers some of the most frequently asked questions around employee relocation services, such as:
· What do corporate relocation companies do?
Relocation management companies help their clients to accomplish their business objectives by placing talent where they need it, when they need it. They can also help clients to develop their employees by exposing them to different roles and company locations with the U.S. and around the world.
To accomplish this, RMCs assume responsibility for administering the client’s domestic and/or international relocation policies. At a core level, this might include helping employees to sell their current home (or terminate their lease), find a home in the new location, and move their household goods. Other RMC services support the relocation process, including processing relocation expense reports, finding temporary accommodations and helping spouses or partners to find a new job.
For global relocations, the RMC can also help with visa and immigration requirements; arrange language and cultural training; identify international schools; and deliver other services needed for a smooth transition.
· What are the benefits of using a relocation management company?
For most organizations, corporate relocation is a peripheral function that lends itself well to outsourcing. Relocation has become increasingly complex, with many tax, legal and immigration considerations. The program leader must develop relocation policies and ensure they remain competitive, manage many different suppliers, track costs and more. Few companies today have the time or in-house expertise to manage all of this on their own.
Outsourcing relocation services to a professional RMC can help you to customize an employee relocation program that meets your needs, keeps you competitive within your industry and ensures you are compliant with tax and legal requirements.
Here are some of the benefits of outsourcing to corporate relocation companies:
- Access to industry benchmarks and best practice information that can help you offer the most popular employee relocation benefits while controlling relocation costs.
- A network of vetted, performance-managed suppliers in the U.S. and worldwide, and the benefit of the RMC’s negotiated discounts.
- Help in remaining compliant with ever-changing tax, legal and immigration requirements.
- The use of the RMC’s relocation technology, which can include comprehensive reporting, program summary dashboards, status information and apps, and tools for relocating employees as well.
- The convenience of initiating a relocation with a simple click or call.
- The freedom to focus on core job responsibilities.
The eBook continues to dive into other questions about working with a relocation management company, including:
- What role does the RMC play in the client/RMC relationship? How about in the relocating employee/RMC relationship?
- What is the benefit of the RMC’s global network of suppliers?
- What is the advantage of using relocation technology to the client and to the relocating employee?
- Do corporate relocation companies help develop a new relocation policy if needed or review current polices for recommendations and improvements?
To learn more about working with a relocation management company so that you’re engaged with a true service partner, not just a vendor, download the eBook from TRC Global Mobility.