Category: Corporate Relocation

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Tips & Tricks Navigating the Legalities of Corporate Relocation

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Understanding Corporate Relocation

Navigating the legalities of corporate relocation can be a complex yet vital task for any organization considering a shift in their base of operations. This blog post aims to act as a compass, providing valuable insights into this intricate process.

Relocating your corporate headquarters is more than just a physical move. It entails transferring your business’s operations, assets, and sometimes, even employees to a new location. Various factors can spur this decision—expanding business operations, accessing a new market, or seeking cost-effectiveness. However, the process involves navigating numerous logistical, operational, and legal hurdles.

Legal Considerations in Corporate Relocation

First and foremost, let’s delve into the lease and property agreements. These contracts form the bedrock of any relocation process. Understanding the terms, especially regarding early termination, potential penalties, and the legal requirements for setting up a new lease.

Next, zoning laws and regulations are often overlooked but are equally important. Adhering to local ordinances is vital. Additionally, some locations may require special permissions or permits.

Lastly, the impact on your workforce is considerable. Employment law considerations are necessary when managing employee relocation, understanding termination rights, and modifying employment contracts.

Impact of Corporate Relocation on Taxes

Transitioning to the subject of taxes, relocation may significantly affect your corporate tax liabilities. Understanding the nuances of federal and state tax laws is paramount. Moreover, familiarity with double taxation agreements can prevent unexpected costs.

Interestingly, many regions offer government relocation incentives to attract businesses. These can offset some of the costs associated with moving, so it’s worth exploring these options.

Navigating International Corporate Relocation

On the other hand, international relocations present unique challenges. Not only do you need to understand international law, but you also need to manage the complexities of international tax rules. Moreover, cultural and ethical considerations play a crucial role in the success of an overseas relocation. One of the significant challenges of international corporate relocation is ensuring a smooth transition for your workforce in a foreign environment.

Tips and Tricks for Navigating Corporate Relocation Legalities

Now, let’s equip you with some practical tips. Early consultation with legal experts is a must. They can help you navigate the legalities of corporate relocation, ensuring you’re on the right side of the law. Keep the following in mind: 

  • Keeping thorough records and documentation of all aspects of the move is equally important. Such records serve as a reference and can be vital in legal disputes.
  • Moreover, consider utilizing corporate relocation services. These experts can manage the logistics, allowing you to focus on maintaining business operations.
  • Compliance with all relevant laws and regulations is non-negotiable. It protects your organization from legal repercussions.
  • Lastly, communication with all stakeholders helps manage expectations and facilitates a smoother transition.

Case Study: Successful Corporate Relocations

Several organizations have successfully navigated the legal maze of corporate relocation. Their experiences underscore the importance of early planning, legal consultation, and effective communication. These lessons can provide a valuable roadmap for your own relocation process. You can download free corporate relocation case studies here.

The Role of Moving Companies in Corporate Relocation

Amid all the legal and logistical considerations, hiring a professional moving company can be a game-changer. These experts handle the physical aspects of the move and often provide valuable advice on how to streamline the process when moving on a tight schedule. By doing that, they are sure to help you move your office quickly. A reliable moving company will ensure your business assets’ safe and efficient transportation, thereby reducing the risk of damage or loss.

Helping Employees Adjust After a Relocation Assignment

Also, helping your employees adjust after a relocation assignment is another crucial aspect. Providing support, such as cultural training or financial assistance, can help mitigate relocation stress and promote faster adaptation to the new environment.

Cultural understanding becomes crucial when relocating to a new area, especially internationally. This entails studying the new location’s business etiquette, social norms, and communication styles. On the other hand, ethical considerations involve respecting and integrating local customs into your company culture, ensuring a smooth transition for your employees, and fostering positive relationships with local businesses and communities.

Post-Relocation Considerations

Even after the relocation is complete, the work is still ongoing. Post-relocation evaluations are necessary to assess the move’s success and identify areas for improvement. These insights can be invaluable for future relocations or other companies looking to make a similar move.

Mastering the legalities of corporate relocation can seem like a daunting task. However, the process can be less overwhelming with early legal consultation, careful planning, and clear communication. Working with an experienced relocation management company such as Global Mobility Solutions (GMS) can help reduce the stress of an office move.

Remember, each relocation is a unique journey, but with the right tools and guidance, you can turn this challenging process into a successful venture. This guide is your first step towards understanding the complexities and, in turn, executing a smooth and compliant corporate relocation. Reach out to GMS today with any questions you may have about corporate relocation.

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6 Ways to Help Employees Adjust After a Relocation Assignment

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These Small Perks Can Help Your Employees Settle Into Their New City After a Major Relocation

Relocating for a job is an exciting step that millions take each year worldwide, but it also comes with its fair share of trials and tribulations.

It’s essential for employers to consider this and accommodate the needs of team members who have uprooted their entire lives to move to a new city on behalf of the organization they work for.

Here are some small but meaningful perks you should consider offering if you want this transition to be as smooth as possible.

Welcome Packages: A Little Bit of Home Goes a Long Way

Moving to a new city can be daunting and overwhelming. To help employees settle in, providing welcome packages is an excellent start. These should include items that will make their transition more manageable, such as local maps and transportation passes for getting around town quickly.

You could also provide them with information about the neighborhood they’ll be living in or any helpful tips you think they may need to know before starting work, which will be doubly important if they’re moving with children.

Additionally, add home comforts, like snacks from their hometown or small souvenirs that remind them of where they came from, for extra motivation throughout this challenging process.

Coffee House Culture: Helping Newbies Connect

One of the best ways to help your employees settle into their new city is by introducing them to the coffee house culture. Invite your team members for a cup of coffee and allow them to meet locals who can share tips about what’s happening in town or provide insight into any exciting activities they should check out.

You could also invite local business owners, entrepreneurs, and other professionals who can offer advice or even business opportunities. This will make it easier for them to acclimate to their new surroundings and build meaningful connections that can last beyond relocation.

Networking Events to Establish Professional Relationships

An essential part of relocation is making professional connections in the new city, not just in a casual coffee house setting.

Hosting networking events or workshops can help employees build a network and develop relationships with local movers and shakers to whom they may not have had access before. This could be an excellent opportunity for them to learn more about their industry in this area and share any ideas or resources that would benefit everyone involved.

It’s also an excellent way to get feedback on how your organization has handled the relocation process, giving you valuable insights into what works best.

This can even be implemented as part of remote staff appreciation strategies. With modern tech, it’s easy to host virtual networking events so that team members from all locations can benefit from the relationship-building and camaraderie they provide.

Local Discounts for Every Day Necessities & Treats

Small things like discounts on everyday necessities can make all the difference when moving to a new city. Consider offering your employees discounted rates at local stores and restaurants, or even provide them with coupons for specific products they may need when settling in.

You could also give out gift cards that allow them to explore their new surroundings, whether it’s trying out an exciting eatery or catching a movie at the cinema. These simple perks will help show how much you value their contribution while ensuring they feel comfortable and welcomed in their new home away from home.

City Tours and Adventure Days To Show Off the Best of The Town

Organizing a tour or adventure day can highlight what your city offers new employees. Take them on an informative journey around town, highlighting key attractions and places they should visit.

Also, if there are any nearby hiking trails or outdoor activities, suggest those for some time away from work. This is an excellent way for everyone to bond and get familiar with their surroundings, and it’s always lovely to show newcomers how much fun their new home has in store. Plus, it will give them more confidence when exploring independently later on.

Easy Transportation Options For Getting Around in Style

Providing access to transportation is critical when it comes to helping employees settle into their new city. Consider offering them access to discounted public transport services or providing company cars for their stay.

You could also ensure they know about bike-sharing programs, carpools, and other alternatives for getting around town quickly and safely. Whether they need a lift from work or help to find unique places that aren’t always accessible by bus, these small perks will show your commitment to making relocation as stress-free as possible.

Let GMS Help You Help Your EmployeeS

Global Mobility Solutions (GMS) has been helping companies get employees and their families from point A to point B since 1987. Our relocation specialists are equipped with the skills and knowledge it takes to assist your company in setting up comprehensive relocation packages. Not to mention, the more competitive and appealing your relocation packages are, the easier it is to hire employees who are willing to accept relocation assignments. 

Our team is always on standby and ready to walk you through the beginning steps of how to set up your employees for a successful moving process. Set up a free, risk-free consultation with one of our business development managers today!

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The Challenges of International Corporate Relocation

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Use this international relocation guide to overcome some of the common challenges

The international corporate relocation process can be a daunting venture. It requires extensive planning and coordination to get employees to their new home country. For growing companies, relocating employees abroad has become an all-too-familiar task. From efficient shipping protocols to secure job placement services upon arrival, the complexities of the global mobility process must involve a strategic approach. For this reason, today, we will discuss the challenges of international corporate relocation. We will assess the steps you must take to overcome these challenges to seamlessly get employees from point A to point B.

1. Paying Suppliers Internationally

Managing international relocation for a business involves countless vendors, often requiring payment across different countries and currencies. This creates numerous logistical challenges. The main one is, finding secure methods to pay local suppliers abroad and ensuring the payments are authorized. However, many relocation management companies have recently expanded the number of digital payments they support. This means that nowadays, it’s much less of a hassle to go through this process than it was in the past. As long as you are working with a reputable vendor, you don’t have to fear potential payment delays or have any security concerns.

2. Language Barriers

When moving abroad, language barriers can be a considerable challenge. This can be an issue even in countries where English is relatively widespread. Therefore, business owners need to consider the complexities that nuances and culture bring to the table when relocating. As a company owner, you must be aware of these potential differences and prepared to address them if necessary by providing employees and their families with language training. This is the only way to guarantee a successful corporate relocation. That being said, while reliable translation services can help minimize issues with language, businesses shouldn’t stop there. Depending on where you are relocating your company, offering extensive employee training may be necessary. Furthermore, one of the work productivity tips is to enable your employees to learn and speak a new language. This is one of the best ways to stay productive as they assimilate into their new environment.

3. Cultural Differences

Navigating cultural differences often poses the biggest challenge for businesses undergoing international relocation. Different countries have different cultures and customers. As we’ve mentioned, this includes language barriers but doesn’t end there. It also includes religious differences, social etiquette, and more. These things can create difficulties for companies settling into a new community. As such, businesses need to educate their staff on the culture of their new destination. Companies must also ensure that their relocation policies align with local societal norms. Furthermore, pairing up with experienced consultants familiar with the local culture is crucial. This will ensure a smooth transition.

4. Immigration, Tax, and Legal Issues

The legal and tax implications of relocating a business or employees internationally can be confusing and complex. Professional guidance and assistance are often necessary to ensure nothing goes wrong once the company settles in. That being said, professionals can help companies navigate local regulations and compliance requirements of domestic and international tax systems. Additionally, company owners, as well as their employees, must consider any current permits or visas that are necessary for residence in the new country. This also includes consideration for their existing financial obligations. For this reason, thoughtful planning and research are key. Therefore, if you are moving your company, plan ahead and figure out as much as you can before you get into the relocation process.

How to Ensure a Successful International Corporate Relocation

As we’ve said, there is no better way of ensuring a successful international corporate relocation than planning ahead. This is a huge process, and it may necessitate months of preparation. As an employer, you need to develop relocation policies around short-term housing options, relocation allowances, visa applications, and various other aspects of relocation. The goal is to make global mobility as easy as possible for your team. If you fail to do this, you may have issues with employees accepting an international assignment. Offering your employees help will make them feel comfortable in the new environment. However, once the relocation is over, you should also help your employees transfer funds and open bank accounts. Adequate preparation and policies in place will not only make for a successful move but will also help maintain morale and productivity during the period of transition.

GMS Provides Resources for Companies Looking To Relocate Employees Abroad

Global Mobility Solutions (GMS) is here to assist with the process of international relocation with comprehensive knowledge and technology that can help companies with all their questions and concerns. Our team of international moving experts can aid your employees in making a smooth transition to a new work environment. With these resources at your fingertips, employees will be able to cross borders and settle in at their new destination confidently.

International corporate relocation can be a complex process. However, by understanding and planning for the challenges ahead, and working with GMS, companies can minimize the risks involved. With careful research and proper preparation, there’s a chance to reduce costs and make a better transition for employees. Reach out to us today to set up a risk-free consultation.

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Reducing Moving Costs Through Government Relocation Incentives

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Check Out These U.S. Cities with Relocation Benefits Programs

Moving to a new place for a new job can be an excellent move for your career and your personal life. Starting somewhere fresh can give new beginnings and new opportunities. But what if the new company does not offer a competitive relocation package? Relocating for a position can be expensive, especially for an employee paying out of pocket; however, if the employee faces a once-in-lifetime job opportunity that cannot be turned down, making the decision even harder. 

A lot goes into the relocation process, from the home sale and purchase costs, movers to travel funds, and even food and temporary housing costs come into play. Even if the new job does not offer the employee relocation benefits, it might not be the end of the opportunity just yet. 

Many U.S. cities and states offer relocation incentive programs to take advantage of. Corporate relocation state subsidy programs are designed to help cover the cost for people moving for a job opportunity. Depending on the program, these incentives may apply to the entire state, region, or city. Here are some cities with the best relocation programs, with many of the programs focused on enticing remote workers in today’s new normal.

Cities & States with Relocation Benefits Programs

When looking for a new job, consider these relocation incentive programs offered by each city or state. Depending on what the relocation assistance covers, it could significantly reduce the cost of moving while also helping to break a tie between two employer offers.

Tulsa, OK

This remote working program is an innovative one. Tulsa offers workers up to $10,000 cash to help with relocation costs and a free workplace within an office space for any remote worker who moves to and works from the city. All employees have to do to qualify for the program is be at least 18 years old, work remotely in a full-time job, be eligible to work within the U.S., and be able to move to Tulsa within 12 months of accepting the relocation incentive.

Northwest Arkansas

To attract professional talent, the Northwest Arkansas Council offers incentives of up to a $10,000 lump sum for those looking to relocate. Recipients will also be given a free street or mountain bike to use on the new 162 miles of paved trails, the 37-acre Razorback Regional Greenway, and the region’s 322 miles of mountain biking trails. If a bike doesn’t suit the fancy of the moving worker, participants can also choose an annual membership to arts and cultural institutions.

Newton, Iowa

In 2014, Newton, Iowa, initiated The Newton Housing Initiative to boost home buying and construction. Investing in Newton’s infrastructure with a $190,000+ home yields a $10,000 cash incentive plus a “Get to Know Newton” package worth ~$2,500, with discounts at local stores and eateries.

To be eligible for this program, you must buy or build a new home worth $190,000. The reward is given at the final loan signing, and a certified appraiser must appraise the home’s value. The Newton home’s construction has to be completed before you receive the incentive, confirmed with proof of occupancy by the City of Newton. Rental properties do not qualify for this relocation program.

Savannah, GA

The Savannah Technology Workforce Incentive is willing to reimburse relocating employees up to $2,000 of relocation expenses. To qualify, applicants must be willing to work with a technology company in the region, be self-employed, or be remote workers looking to relocate to Savannah. Additionally, the employee must relocate within 12 months, have a minimum one-year lease or purchase property, and have resided in the county for 30 days before being able to apply

Tucson, AZ

Thinking of living in the desert? StartupTucson offers incentives totaling up to $7,500 in cash and moving services. Relocation funds, internet setup, and housing support are just some of this program’s benefits

The Shoals, AL

Another program geared toward remote workers, this relocation benefits package, is willing to pay moving employees $10,000 cash, which can go a long way in the low cost of the living area of The Shoals. To be eligible for the money, workers must have a minimum annual income of $52,000, be able to move within six months, be full-time employees, and be at least 18 years old. $2,500 of the incentive is given upfront for moving costs. The rest is given in two payments, the first after six months and the last after a year.

GMS Can Help Relocating Employees Utilize Relocation Incentive Programs

Are you a company that has been exploring innovative new ways to utilize a remote workforce? GMS can help you craft creative relocation policies while maximizing the relocation incentives programs offered by various state and local governments across the U.S. Contact us today to discuss how your company can obtain and retain the best talent from anywhere in the country and how to do so affordably.

Or if you’re an employee looking to take advantage of relocating on remote work policies, then feel free to contact as well. GMS is happy to announce our new Employee Choice Program, where we help remote workers get network pricing on moving services as they relocate to an unknown destination.

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Cost-Effective Strategies for Managing Employee Relocations

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Young Asian couple or family feeling happy relaxing and play with their cat after moving to new house or apartment.

use these tips to keep relocation costs within budget

It’s no secret that relocating an employee is a costly endeavor. Creating global teams for your business can be highly beneficial. However, you might lose money on the project if you fail to play your cards right. It’s easy to feel overwhelmed with all the expenses you encounter during this process. There is so much to account for when managing employee relocations. Just a few of these things would be: 

  • Moving company expenses
  • Benefits packages
  • Acquiring accommodation
  • International transport (when applicable)
  • HR department bonuses

And the list goes on. However, it’s not all bad news. If you work strategically, you can save on relocation costs while keeping your employees happy when getting them from point A to point B.

Create tiered packages for employee relocations

The first strategy you can use to stay on budget when relocating an employee is creating tiered relocation packages. This means that the benefits package for an entry-level employee who has been with the company for three months should differ from that of an executive. This is a widespread and very effective strategy. Many employers have three or even four relocation benefit packages. You can create additional layers to those categories based on employee productivity.

Secure housing before the move

There are a lot of hidden expenses that come with moving on a whim, from renting out storage for your employee’s items to an indefinite time spent in short-term accommodation. And since using a storage unit isn’t tax deductible for businesses anymore, it’s even more expensive. Securing housing for your employee before moving is an excellent way of managing employee relocations while saving money.

Additionally, one of the most common reasons employees won’t relocate for work is that the move seems too hassle. So, securing everything in advance will not just help you save money; it’ll also help with employee satisfaction.

Introduce expense caps

Introducing expense caps is a great way to ensure your relocation program stays on budget. Expense caps are a great way to ensure no employee abuses their allowance. It’ll prevent surprise expenses from becoming the norm within your relocation program. 

When introducing expense caps, there are two essential factors to keep in mind: 

  1. Permissible exceptions – You should have some leeway in your budget if something goes wrong during your employee’s relocation. If they need to make an unplanned expense that is deemed necessary, you should be able to provide that;
  2. Expense caps should be personalized – It’s important to remember that living expenses differ in different areas. Ensure that your expense caps are calculated with the average cost of living in the area in mind.

Managing employee relocations is not ‘one-size-fits-all’

While offering every employee the same budget, guidelines, and services when managing their relocations may seem much more straightforward at first glance, you’ll quickly realize that it’s not. For example, a young single employee will require very different services than an older married employee with two kids. 

It’s essential to account for the individual needs of every employee you are relocating. Don’t worry if some mistakes come up the first few times. After a while, you’ll learn which services and guidelines are necessary for which group of employees. Ensuring that benefits packages and relocation services are tailored to the needs of your employees will help you save in two main ways: 

  1. You’ll be able to cut out any expenses that aren’t necessary for that worker; 
  2. You won’t be cutting out vital things to your employee. This will help keep morale (and productivity) up.

Other Relocation Costs to Keep in Mind

Conversely, a great option is to secure a fully furnished new home for them. That way, they only need to bring essentials and valuable personal possessions. Some other ways to cut costs on a long-distance move would be: 

  1. Choosing the suitable date – Moving during the off-season (winter and fall) can usually get you lower prices; 
  2. Shopping around – Getting estimates from a few moving companies is a great way to ensure you’re getting the most bang for your buck; 
  3. Compound expenses – If you plan on hiring professional packers in addition to movers, try finding a company that offers both. That way, you can get a deal on both services instead of paying the total price for each.

Ready for the best deal on relocation services?

Global Mobility Solutions (GMS) is your best bet to get a proper quote when it comes to relocation services. First off, all of our service providers are strictly vetted. And second off, we use a multi-bid approach when it comes to hiring vendors for each move. 

Most relocation services companies (RMC) will have a trusted partner vendor they use most of the time. Which is why their prices stay set at what they are. But GMS will get multiple bids from different vendors so that our savings on relocation costs get passed on to you. 

If you’re ready to hear more about how GMS can help save your company money on relocation costs, contact us today to schedule a free consultation.

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Money Management Tips for Relocating to a New City

Here are some financial points to keep in mind after accepting a relocation assignment

With any job offer, one of the most important factors, if not the most important, is the salary. The number one reason employees seek a new position is to increase their pay. But what if you have to accept a relocation assignment in order to make that leap in the pay range? It is common for employees to consider moving to get a higher salary, better promotion, or a more enjoyable work environment. 

Whatever the reason, relocating for a job from a new company (or promotion from your current company), there is no doubt that finances will be top of mind. The first thing that must be kept in mind is that moving can be expensive if the company does not offer corporate relocation assistance. When interviewing for a position in a different state or country, be sure to get crystal clear explanations of what type of global mobility benefits are provided. 

But even after making the move official, there will still be money management skills that should be practiced. Here are a few financial tips when considering the relocation costs for a domestic move or an international assignment.

Do Thorough Research on the Cost of Living

The adjusted cost of living is the most obvious factor in accepting or rejecting a job in a new location. Before taking a giant leap, you’ll want to research some ordinary living expenses in the new city, such as rent/home prices, cars, gas, utilities, childcare, and other everyday expenses. If you are working with a relocation management company (RMC) to assist you in your move, it will be worth asking if they can provide a cost-of-living calculator.

Plugging some numbers into a relocation technology tool can help you understand how much money you’ll have to make and spend in your new destination. Once you have a clear picture, you can begin navigating your finances into a monthly budget that assures you’ll be stable in your new home.

Finding a Budgeting Style

In preparation for relocating, it is recommended to have a budgeting technique and do your best to stick to it. Setting a budget within your new cost of living allows you to see the scope of your finances to their extent. 

Popular Budgeting styles and techniques:

  1. Envelope method. Categorize envelopes for different expenses (e.g., rent/mortgage, groceries, gas, travel). Allocate money from paychecks to each. This method aids in monitoring spending and encourages mindful spending behavior.
  2. 50/30/20. Divide your paycheck into three parts: necessary costs (50%), leisure and pleasure (30%), and savings/debt repayment (20%). Adjust the percentages as needed; if you have more debts, increase the amount allocated to that category. This system is customizable and can be tailored to your individual needs.
  3. Zero-based Budgeting. Budgeting using zero-based systems divides your income into more minor, less expensive expenses. Record your income, then list the categories you need to spend each month. Estimate how much you will need to pay for each type until your total is zero. This way, you can be sure that every dollar will go somewhere, like your savings, rent, or groceries.
  4. The Pay-Your-Self-first Budget. A great way to put money aside to pay down debt and build your savings. Once you’ve paid off your debts, you can use the rest for anything.

GMS Can Provide Cost of Living Analysis

As stated above, it is always a good idea to get a scope on the cost of living for the desired state or city you are looking to move to. Global Mobility Solutions (GMS) is proud to call itself the leader in the relocation industry regarding technology. We are the pioneers of relocation technology. 

Our cost of living calculators can get you to point in the right direction from the start. From there, you can decide whether the relocation process suits you for this particular job. Our calculators are constantly updated and tested to ensure realistic answers. Please contact us today if you want more information on receiving a cost of living analysis for a new city. And always be sure to check our Knowledge base, where we post blogs about countless relocation topics.

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Supply Chains Looking to Normalize

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Photo of a delivery man lifting cardboard boxes from the back of his truck.

Many supply chains are finally looking to normalize two years after the pandemic

Two years back, the world observed the pandemic gradually obstructing one of the most used pathways of worldwide commerce: container ships filled to capacity and stationed near the Southern California shoreline.

The bottleneck started with five ships on October 15, 2020, but more than 40 ships joined the queue in February as Americans hurried to stock up ahead of the COVID lockdowns. The queue dropped to nine ships in June 2021, but more than 60 ships joined the line this time last year, and it peaked at 109 ships in January. There are many signs that supply chain pressure is decreasing.

Supply chain management has been turbulent over the last two years. However, the outlook for 2023 is improving. The Logistics Managers’ Index reports that by September, a return to regular operations is forecasted by the following year.

While there have been substantial improvements in international transportation capacity, industry experts caution that the recovery’s speed may take some optimism from people but that things are going in the right direction. In the United States, for example, raw materials and components may still need to be secured by some companies.

Ocean Freight Shipments See a Decrease in Demand

Consumers are significantly reducing their ocean shipping activity. Machinery, housing, industrial and apparel items are all affected by the decrease in demand. The surplus of goods and lack of knowledge about consumer needs contribute to the decline in ocean freight shipments, further heightened by the early stockpiling of items this summer.

Oxford Economics reported U.S. supply strain peaked in February but has been better since September. Spending less by consumers in developed economies is beneficial, as it reduces supply chain pressures. Industry experts anticipate further improvement in supply chains in late 2022 and 2023.

It won’t be all roses and sunshine in 2023; with the continued risk of labor unrest at rail and port sites, predicted delays at European harbors, and unexpected timing issues, some hold-ups will occur throughout the year. Changes caused by Mother Nature’s fury are likely to result in more canceled sailings.

Ocean carriers are utilizing tactical “blank sailings” to align their ship’s space with orders, aiming to minimize costs and stop future cost declines. This is akin to airlines canceling under-booked flights. Data from Drewry shows carriers removing entire service loops to better match their capacity with demand.

Normalized Supply Chain Will Help the Relocation Industry, Stay in the Know

Reduced container ship traffic will result in household items arriving on time and with fewer delays. A sustained drop in ocean freight requests could also lead to more reasonable customer pricing.

Though hope remains, businesses shouldn’t count on returning to pre-COVID times soon. The shipping sector is still anticipating a consumer expenditure surge that will bring shipments and voyages back to 2019 amounts.

To keep up with all relocation industry news, check out our Knowledge Base, where we post weekly blogs and press releases. You can also review some of our Case Studies or watch one of our past Webinars.

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How Relocation Management Software Can Help Streamline Your Company’s Move

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Young couple moving in new house. They are happy and using laptop to buy stuff they need.

Learn the advantages of using relocation technology

The use of relocation software is becoming more crucial in the context of company mobility. This is because efficiency is paramount if you wish to relocate without causing undue disruption to your operations. That being said, Relocation Management Software can streamline the moving process for workers across town or the country. Moreover, with the right solution, you can reduce the time and money spent on moving while being more efficient. Furthermore, relocation management software can help you find the best movers and estimate the costs associated with your relocation. Therefore, if you need help with relocation, here is how relocation management software can help streamline your company’s move.

What Is Relocation Management Software?

Relocation management refers to the technology that supports and streamlines a company’s moving process. This can involve everything from keeping track of the employees moving to a new location to automating paperwork related to the move. This technology is most useful for companies that regularly relocate employees or offices. Additionally, it is also helpful for companies that provide support for workers who relocate temporarily. There are many features that a relocation management system can offer to help you improve the efficiency of your next move.

It Will Help You Track Your Staff in Real-time

Relocation management software can keep tabs on your staff in real-time, a considerable time saver during corporate relocation. This is hugely beneficial because if your company is moving personnel internationally, you can keep track of their whereabouts and other vital data while they travel.  For instance, you will be able to keep an eye on the status of both the employee and their family members during the move.

It Makes Reporting a Lot Easier

The software facilitates personnel data monitoring and assists with reporting and analysis. As was previously noted, keeping tabs on your staff may improve your company’s ability to predict and prepare for the future during your company’s move. You will be able to observe how well your efforts to relocate are at all times. If something goes wrong or you notice that you are more efficient with your move, you can hire more help. In fact, according to moving experts, having numerous quotes for moving providers as a backup is always a good idea.

It Will Help You Manage Your Whole Move More Effectively

Relocation management software may aid in administrating any relocation project and the organization. Keeping track of employees from various divisions will be challenging if you relocate your whole company on short notice. However, relocation software helps you keep tabs on office space requirements. It may also be helpful if you need to relocate workers from many different locations since it simplifies process management to guarantee a seamless move. With this system in place, tracking what you need to do during an employee’s relocation is much easier. If you do this, your staff members are less likely to refuse to leave or quit altogether due to the struggles of the relocation.

A Few Additional Benefits of Relocation Management Software

The advantages of using move management software become apparent as early as the planning phases of relocation. An overview of the benefits that companies may anticipate from basing their corporate relocation plans on advanced move management software is as follows:

  1. Unified focus.  The software replaces paper papers and online folders with a single location for all relocation-related information. Everyone helping to plan the relocation shares information via a central hub. As the need for a united emphasis on important goals grows, centralization of relocation data becomes essential.
  2. Timeline-specific planning.  With the help of relocation management software, you can organize various moving elements into a logical sequence. Organizing the transfer into manageable segments and planning for the following steps ahead of time makes for a more streamlined transition.
  3. Checklists and prerequisites.  Using an index is one of the simplest and most efficient ways to keep yourself on track. Before, during, and after relocation, you should be using a list. Integrating checklists into relocation software helps teams stay on task and provides transparency into what has been completed, what remains, and who is accountable for what.

Digital integrations. Ensure that everyone in the company is aware of the new office layout by synchronizing corporate directories. Use facility support tickets to ensure the maintenance crew immediately addresses loose ends. Bring state-of-the-art Internet-of-Things (IoT) sensors to keep track of operations in old and new buildings. Effective relocation relies on careful planning and careful execution.

GMS Leads the Industry in Relocation Technology

Now that we’ve gone over all the advantages of relocation management software that can help streamline your company’s move, you shouldn’t have trouble deciding whether you need to use it. All these advantages add up to one thing: a relocation that goes off without a hitch, with no hiccups caused by mistakes or other mishaps. The less complicated the process of getting from point A to point B, the less impact it will have on daily business. Therefore, if you are not using it, you should start now.

 

Global Mobility Solutions (GMS) takes pride in leading the relocation industry regarding customer-facing technology. A few years back, we created MyRelocation, a cloud-based tool for our clients to track and manage their relocation process from start to finish. Please schedule a free consultation today if you are ready to contact one of our global mobility experts to discuss your relocation needs.

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Buy a Home Corporate Relocation Global Relocation Trends Relocation Best Practices

Answers to Housing Market Questions Heading into 2023

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Family in front of their house

As we near 2023, here are some hot topics regarding the real estate market

Over the last three years, many real estate markets saw record-high home prices. As the interest rates continue to rise, there are many questions regarding the housing markets across the country heading into 2023. Many buyers and sellers wonder if these high prices will stay consistent or continue to increase. 

 

Here we cover some questions that many have about the future of the real estate market and how it may affect relocation programs next year:

What Caused Home Prices to Rise So Much in the Last Two Years?

The short answer is high demand and low supply. According to the Federal Housing Finance Agency (FHFA) Home Price Index, the national average on home prices went up 15% in 2021 and 9% in 2020. Historically prices have only grown about 5% each year until then. 

 

Because of the historically high demand, the Federal Reserve drove down mortgage rates and borrowing costs to record lows to better support economic activity. The thought was to make monthly payments on expensive homes more manageable. But while that was happening, the number of homes for sale declined as many people were waiting out the Covid-19 pandemic and its effects on the market.

What Will Happen with Home Prices in 2023?

With a rise in mortgage rates, we have seen new and existing home sales slow down considerably. According to the National Association of Realtors, existing home sales were down almost 20% when compared year over year. At the same time, median home prices sold somehow went up 7.7%.

Demand may have slowed in most major markets, but the number of homes for sale continues to be at historic lows. Experts predict that the national average home prices could continue to rise, but if so, it will be much slower than in the past two years. For 2023, the Mortgage Bankers Association (MBA) and Fannie Mae predict existing home price growth of 3.1% and 3.2%, respectively.     

 

In summary, potential buyers might not have to deal with as much competition, but property appraisals are likely to remain high.

Will there be a housing market crash similar to 2007–08?

Experts will say that they do not see the market conditions as a “housing bubble” compared to 2007-2008. During the period leading up to that bubble burst, too many mortgage companies were greenlighting buyers who did not have financial positions to manage monthly payments. Back then, many home loans were made with no money down on the property, so the buyers did not even have equity in the property. 

 

As the home prices eventually declined significantly, this made it easier for the new homeowner to walk away from the house, which created the crash. But today, mortgage qualifiers have much stronger credit profiles and equity in their properties. According to the New York Federal Reserve, most home loans made over the last two years have gone to those with high credit scores of 760+ rather than the low scores of the Housing Bubble period. 

In addition, the housing market in 2007 had a surplus of homes for purchase in the decade before the COVID-19 pandemic, but new home construction did not keep up with the demands of a growing population.

With the price increases, is housing affordability an issue for the U.S. economy?

The high cost of housing and increasing mortgage rates make it difficult for more people to afford a home. This has been a problem in the economy for several years, with the lack of affordable housing being an issue since the Great Recession. As the supply of homes becomes tighter, builders are incentivized to construct larger homes with more significant profit margins. With an increase in the availability of these higher-priced segments, builders have slowly begun moving down the price-point scale.

GMS Is Always In the Know On the Housing MarkeT

Global Mobility Solutions (GMS) always stays up to date on the real estate market in almost every need within the US, and most international market trends. Our dedicated real estate team works with the best relocation real estate agents and mortgage brokers to assure excellent service and outstanding home sale and buying assistance programs. 

 

On top of that, our corporate housing providers are all thoroughly vetted before being passed on to clients. At GMS, we understand that the up and down housing market can be a big reason why an employee might decline a relocation assignment, which is why we do everything in our power to get them from point A to point B without going into financial distress over their home sale or home buying portion of the relocation process. 

For more information on our real estate case studies or other industry trends regarding global mobility programs, feel free to reach out to us today for a free consultation. Our award-winning relocation team is ready to answer any questions you may have.

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Corporate Relocation Corporate relocation tips

How to Ask for Relocation Assistance

young woman asking her manager about relocation assistance
Two Female Colleagues Fondly Talk to Each Other, Laugh and Smile while Working on Computers in Diverse Modern Business Office. Experienced Manager and Young Employee Discuss a Fun Analytical Project.

How to ask your employer to provide relocation services; and an alternative if they say no

So, you’re about to receive a fantastic job in an exciting, far-away city. Yes, as long as the offer is correct, you’re up for this move. It would help if you asked for a relocation package after you receive a job offer, but before you accept. That’s when you have the most negotiating power. To get the best deal, you need to know what to expect. If you haven’t gone through a corporate relocation before, here’s what you should know.

With how the workforce market has shifted since recovering from the Covid-19 pandemic, it is now considered an employees market. Now more than ever, employees have the leverage to get raises, promotions, and benefits and even ask for the opportunity to relocate with help from the company. 

Just Ask the Question

While this sounds simple, we know it can be intimidating. Before asking, you should prepare a pros and cons list of your job before and after the move. Be realistic with both lists and brainstorm how to overcome the cons. Once talks are underway about whether or not the relocation services will be approved, you have to be willing to review counters. It’s not likely that your company will give you all the relocation assistance you are asking for upfront. 

GMS Can Help If the Answer is No

Global Mobility Solutions (GMS) has been the industry leader when it comes to relocation management companies (RMC). Our expert team has been assisting companies move their employees from point A to point B. But now, in this day and age, we are here to help employees relocate at an affordable price that won’t cost their employer a penny. 

Those looking to get relocation services covered by their employer will have to fight tooth and nail in order to do so. Relocation packages can be pricey, and creating them for one-off situations can be even more expensive. That is why the relocation team at GMS has created our Employee Choice Program. This program is designed to give employees access to vendors and their in-network pricing on numerous relocation services. 

A single person or family looking to move can gather their own quotes on household goods shipping, temporary housing, real estate assistance, etc. but it will cost them a lot. GMS created this program to offer our relocation services at a more affordable rate for employees who cannot get their employer to provide relocation assistance. 

Since the Covid-19 pandemic, more companies are offering remote work policies or flexible work situations. GMS considered this: why would employers pay to relocate employees if they offer work-from-home options? 

This is where the Employee Choice Program comes into play. If employees can get the green light to work from home from their employer, then they can live wherever they have always wanted to. Once remote work is approved and a destination is chosen, they can utilize GMS’ new program to relocate with the best vendors in the industry at a rate that they would get from an employer-provided relocation package. 

If you would like to learn more about the Employee Choice Program, ask your HR manager or whoever is in charge of employee mobility programs at your company to contact us today. We can set up a free consultation with one of our business development managers to see if you and your coworkers can take advantage of this new, great program. 

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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