There are numerous aspects that are involved in the moving process, and a job relocation package will not cover every single one of them. But, there are some specific benefits that a relocation consultant would suggest being included in any moving assistance package a company offers.
Home Buying Advice
If you are hiring a first-time homebuyer or someone who has not gone through the home buying process in a while, they would truly appreciate and accept all the advice they can get.
Offer them assistance that could help make the process as quick and smooth as possible so they can start working with less stress, in less time. Suggesting elements like considering a mortgage preapproval and personal budget assessment can help ease concerns regarding financial uncertainty and their move.
Naturally, any advice that you can offer to someone buying a home in your area would be useful to share with them. Be open to assisting them in more ways than just financially throughout the process, such as neighborhood and school district recommendations. If any relocating employees have questions or concerns that you may not have the answer to, direct them toward a trusted relocation consultant that can better assist their needs.
Moving Company Assistance
One of the main financial benefits to include in any relocation package is the usage of moving company assistance. Hiring a moving company to help pack larger items, transport things from one house to another, and provide potential storage should be included in this part of the relocation plan.
It would be smart to partner with a specific moving company that could offer one, or multiple of these features of relocating employees’ possessions from their old house to their new one. This way you can determine a rate that works for both you and the moving company, instead of negotiating with a different company each time an employee relocates closer to your office.
Finding a local storage facility to collaborate with would also be beneficial for many of the same reasons as partnering with a moving company. Not every employee that relocates will need to utilize a storage facility, but some will, depending on what they are transporting. This will give them the opportunity to store some of their belongings and worry less about the financial obligations of storing personal items.
Realtor Cost Assistance
It is very beneficial to have an experienced real estate agent involved when selling a home and buying a new one. However, real estate agents don’t work for free, there are multiple costs and fees attached to working with an agent. Some potential costs include organizing and taking professional staging photos to be shown online, and any home inspections that need to be completed. When working with an agent, consider the costs attached to preparing for an open house and closing costs as well as commission.
With so many fees attached to collaborating with a real estate agent, it’s easy for someone to pass on one, but they are very beneficial to have during the home selling process. This is why aiding in the realtor costs is one of the more important elements that a relocation consultant suggests to be included in any effective relocation package.
Travel Expenses
Depending on how close or far a new hire is from where they will be working, travel expenses can vary in cost. Reassuring these employees that you will help them with any travel costs is a great way to get off on the right foot with new hires. Offering a travel reimbursement to each relocating employee is something that should be included in a relocation package from your organization.
If an employee and their family are flying, a stipend can be used to cover the cost of the plane ticket(s). If they are driving, they can use the money for gas and lodging, if they cannot make the trip all in one day.
Family Planning Assistance
New hires that are moving with families also need to take them into account during the process. If their spouse also needs to find a new job during the move, including the cost for them to work with a staffing agency to help navigate the job hunting process should be something that you consider adding to your relocation package.
If a new employee has kids that are in school, helping them throughout the school transition would be beneficial for them. Doing things to make the process of switching schools as easy as possible like providing a list of different schools in the area and any important dates like the beginning of the school year, enrollment date deadlines, etc. would all provide assistance to a family moving to a new area.
Temporary Housing
One more concept that a relocation consultant suggests in every employee relocation package is access to temporary housing. Not every person that moves will need to utilize temporary housing, but being able to offer it to those who do should be a priority when putting this package together.
If a new hire is flying into the area and arrives before the moving company with all of their items, you could offer them the opportunity to stay at an Airbnb or a hotel that is close by until they have all their possessions. Knowing that they will have a place to stay no matter how long the move-in process takes will create peace of mind during the job relocation process.
Creating the perfect job relocation package that makes sense for your company and your new employees can be tough. But at Corban OneSource, we specialize in aiding in any HR situations you may find yourself in. Visit our HR outsourcing page for more information.
