Category: Domestic Relocation Trends

Where is Gen X Relocating to? A Look at the Numbers

Post author By Michael Barone
Post date January 22, 2024

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Top 7 list of cities that Gen X-aged people are moving to

With Gen Xers getting ready to send their children off to college and approaching retirement, this particular age group has had the opportunity to witness the growth of their investments through compound interest as they advance in their careers. Consequently, even though they tend to be less mobile, individual Gen Xers can still significantly impact local economies, surpassing the influence of their younger counterparts.

Considering this, recent data from the U.S. Census Bureau has been used to analyze and rank the top cities for Gen Xers (aged 45 to 54) considering relocating. The data focuses on 268 of the largest cities in the United States, aiming to identify the most favorable destinations for this age group.

Here are the top 7 cities Gen X are moving to:

1) Surprise, Arizona

In 2022, Surprise experienced a notable increase of 4,414 individuals from the Gen X generation. The overall population of this age group now stands at 18,239, accounting for 11.93% of Surprise’s total population of 152,910 residents.

2) Bend, Oregon

Bend has become a sought-after spot for Generation X, drawing in 2,858 fresh faces. This surge has pushed the overall number of residents in this age bracket to 14,965, comprising 14.60% of Bend’s total population of 102,467.

3) Scottsdale, Arizona

In 2022, the number of Generation X individuals in Scottsdale rose by 6,215, bringing the total population of this age group to 32,881. Gen X now constitutes 13.68% of Scottsdale’s population of 240,432 residents.

4) Orlando, Florida

Orlando attracted 7,923 Gen X-aged citizens. Consequently, the population of this age group increased to 40,219, constituting 12.82% of the city’s total residents, which amounts to 313,625 people

5) St. George, Utah

A total of 2,499 individuals from Generation X were drawn to St. George. This demographic constitutes approximately 10.19% of the city’s population, 10,282 out of 100,904.

6) Jackson, Mississippi

The number of Gen Xers in Jackson increased by 3,551, bringing the total number of residents in this age category to 16,829. This accounts for approximately 11.67% of the overall population of Jackson, which is 144,244.

7) Hartford, Connecticut

Hartford attracted 2,527 new residents from the Gen X generation. This influx of people increased the Gen X population in the city to 14,442, accounting for approximately 12.11% of the total residents, which amounts to 119,290 individuals

GMS Is Always in the Know about Relocation

Global Mobility Solutions (GMS) always stays current on real estate and relocation trends.GMS understands the importance of staying up-to-date with the latest trends. By keeping a finger on the pulse of the industry, GMS can provide its clients with the most accurate and reliable information to assist them in making informed decisions. Recent data on Gen X population growth are just one example of the valuable insights that GMS can offer.

With this knowledge, GMS can assist its clients in understanding the potential opportunities and challenges of relocating to these cities. Whether finding suitable housing options, navigating the local real estate market, or understanding the unique needs and preferences of Gen Xers, GMS is equipped to provide comprehensive support and guidance.

GMS ensures its clients receive the highest service and expertise by staying informed about relocation trends and real estate developments. With GMS by their side, individuals and businesses can confidently navigate the complexities of relocation and make informed decisions that align with their goals and aspirations.

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How to Get Ready for a Relocation Assignment

Post author By Michael Barone
Post date January 8, 2024

Happy couple in front of their new home — Shot of a happy young couple holding the keys to their new home

Accepting an offer to relocate can be a great career move

Are you ready to take the leap and relocate for your career? Moving to a new workplace can be an exhilarating adventure, filled with opportunities for personal and professional growth. However, it can also be a daunting task that requires careful planning and execution. We will explore the exciting journey of relocating for work, offering valuable insights and tips to help you navigate this transition smoothly.

Relocating for work can be an exciting opportunity to explore new horizons and advance your career. However, it is essential to approach this transition with careful planning and preparation. Here are some valuable insights and tips to help you prepare for your relocation assignment.
Firstly, it is crucial to research and understand the new location thoroughly. Familiarize yourself with the local culture, cost of living, and any unique challenges that may arise. This will help you adjust more efficiently and make informed decisions.

Lastly, remember to take care of yourself throughout this transition. Moving can be physically and emotionally draining, so prioritize self-care. Stay connected with loved ones, maintain a healthy lifestyle, and give yourself time to adjust to the changes. Taking on that relocation assignment can open up numerous new opportunities for your career. You can navigate this transition smoothly and make the most of your career move by approaching it with careful planning, research, and a positive mindset. Here are some things to keep in mind:

Planning Your Move

Before diving headfirst into packing boxes and booking flights, starting with a well-thought-out plan is essential. Here are some critical steps to consider as you embark on this exciting journey.

Research Your New Destination

Begin by thoroughly researching your new location. Familiarize yourself with the local culture, cost of living, and job market. This will help you make informed decisions about your move and ensure a smoother transition.

Secure Housing and Budget Wisely

Finding a suitable place to live is a top priority. Start your search early and consider factors like proximity to your workplace, public transportation, and the neighborhood’s amenities, whether you’re renting or buying.

The journey of relocating for work can be costly, so create a relocation budget that includes moving expenses, housing costs, and any unforeseen expenses that may arise during the transition. Having a financial cushion will alleviate stress and help you settle in comfortably.

Network in Advance

Reach out to colleagues or industry contacts in your new city before your move. Networking can help you establish a support system and gain insights into your new work environment. Attend local professional events or join online forums and social media groups related to your industry in the new location.

Engaging with established professionals in the area can provide valuable information about job opportunities, local business culture, and even hidden gems in your new city. Building these connections in advance will ease your transition and set the stage for potential career growth in your new work environment.

Making the Move

With your plan in place for relocating for work, it’s time to start making the physical move. Here are some practical tips to help you relocate smoothly.

Declutter, Organize and Hire Professional Movers

Take this opportunity to declutter your belongings. Donate or sell items you no longer need to lighten your load and reduce moving costs. Consider hiring professional movers to handle the heavy lifting. They have the expertise to safely pack and transport your belongings, giving you more time to focus on other aspects of your move.

Pack Essentials Separately

Pack a separate bag with essential items like clothing, toiletries, important documents, and any items you’ll need immediately upon arrival. This will save you from digging through boxes during your first days in your new home.

Settling In

Once you’ve arrived at your new destination, it’s time to settle in and embrace your new surroundings. Here’s how to make the most of this exciting phase.

Explore Your New Community and Meet New People

Take the time to explore your new neighborhood and city. Visit local attractions, restaurants, and parks to get a feel for your surroundings. Don’t hesitate to leave your comfort zone and meet new people. Join local clubs, attend networking events, or use social media to connect with others in your industry or community.

Establish a Routine

Settling into a new job and location can be overwhelming. Establishing a daily routine can provide a sense of stability and help you adapt more quickly. A well-structured routine not only aids in acclimating to your new surroundings but also enhances productivity.

Start by setting aside time for essential activities such as exercise, meal planning, and rest. Allocate time for exploring your new city or engaging in hobbies you enjoy. This balanced approach ensures that your transition is not just about work but also about embracing your new location’s lifestyle opportunities.

Maintaining Work-Life Balance After a Relocation Assignment

Balancing your career and personal life is crucial when relocating for work. It can be vital if you are going through work-related stress, mental health issues, or addiction recovery. If this is the case, the effect of stress on your recovery can be triggering and hinder the process. Here are some tips to help you achieve that equilibrium:

Manage your time effectively: Prioritize your tasks and avoid overloading yourself with work. Managing your time effectively will allow you to make the most of your new surroundings while ensuring you have the necessary space to focus on your recovery journey.

Stay connected with loved ones: Relocating might mean leaving loved ones behind. Stay connected with them through regular calls, video chats, and visits to maintain your support system.

GMS can Guide You on the Journey of Relocating for Work

Accepting a relocation assignment for work can be a transformative experience that opens up new opportunities and horizons. While it may come with its fair share of challenges, careful planning, a positive attitude, and a willingness to adapt can make the journey manageable and truly exciting. So, take the leap, embrace the adventure, and watch your career and personal growth flourish in your new home. Your journey of relocating for work is a chapter waiting to be written, with endless possibilities.

Global Mobility Solutions (GMS) offers a wide range of career support and resources to transferees and their families to guarantee smooth relocations. Our team of corporate relocation specialists possesses the necessary knowledge and skills to assist your company in evaluating potential candidates for assignments. Moreover, we are dedicated to providing your employees and their loved ones with the best possible relocation experience.

Contact our experts today to discuss how we can enhance your relocation assistance programs. By offering comprehensive relocation packages, we will ensure your company remains competitive regarding job offers. Additionally, we will guide your employees through a seamless relocation process.

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Tags Domestic Relocation, Global Relocation Tips, workforce mobility management

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Navigating the Exciting Journey of Relocating for Work

Post author By Christina Urrutia
Post date December 5, 2023

young female employee smiling while speaking with coworker — Business colleagues having a conversation. They are both young business people casually dressed in a modern office. Could be an interview or consultant working with a client. She is listening and smiling. One person has her back to us. Mixed ethnic group. One is African American and the other is Caucasian

Things to keep in mind when going through the relocation process for your new job

Relocating for work can be a thrilling experience, opening doors to new possibilities and fresh beginnings. However, it’s essential to approach this journey with a well-thought-out plan to ensure a seamless transition. Here are some key things to remember as you embark on this exciting adventure.

Remember to be patient with yourself during the adjustment period. Moving for a new job can be overwhelming, and it’s natural to feel a mix of excitement and anxiety. Give yourself time to adapt to the changes, and remember asking for help when needed is okay.

Planning Your Move

Before diving headfirst into packing boxes and booking flights, starting with a well-thought-out plan is essential for a successful relocation process. Here are some critical steps to consider as you embark on this exciting journey.

Research Your New Destination

Secure Housing and Budget Wisely

The journey of relocating for work can be costly, so create a budget that includes moving expenses, housing costs, and any unforeseen expenses that may arise during the transition. Having a financial cushion will alleviate stress and help you settle in comfortably.

Network in Advance

Engaging with professionals who are already established in the area can provide valuable information about job opportunities, local business culture, and even hidden gems in your new city. Building these connections in advance will ease your transition and set the stage for potential career growth in your new work environment.

Making the Move

With your plan in place for relocating for work, it’s time to start making the physical move. Here are some practical tips to help you relocate smoothly.

Declutter, Organize and Hire Professional Movers

Pack Essentials Separately

Settling In

Once you’ve arrived at your new destination, it’s time to settle in and embrace your new surroundings. Here’s how to make the most of this exciting phase.

Explore Your New Community and Meet New People

Establish a Routine

Settling into a new job and location can be overwhelming. Establishing a daily routine can provide stability and help you adapt more quickly. A well-structured way not only aids in acclimating to your new surroundings but also enhances productivity.

Maintaining Work-Life Balance

Stay connected with loved ones: Relocating might mean leaving loved ones behind. Stay connected with them through regular calls, video chats, and visits to maintain your support system.

Embrace the Journey of Relocating for WorK

Relocating for work can be a transformative experience that opens up new opportunities and horizons. While it may come with its fair share of challenges, careful planning, a positive attitude, and a willingness to adapt can make the journey manageable and truly exciting. So, take the leap, embrace the adventure, and watch your career and personal growth flourish in your new home. Your journey of relocating for work is a chapter waiting to be written, with endless possibilities.

In conclusion, relocating for work is an exciting journey filled with endless possibilities. By conducting thorough research, finding suitable housing, organizing the logistics, building a social network, exploring your new surroundings, and being patient, you can navigate this transition smoothly and make the most of this thrilling adventure.

Global Mobility Solutions has been helping employees get from point A to point B for over 30 years. Our expert team of relocation professionals allows companies to construct comprehensive relocation packages that make the moving process seamless for employers and employees. Contact our team today to set up a free consultation.

We're Here to Help! Request a Courtesy Consultation

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Examining Common Employee Relocation Costs

Post author By John Fernandez | CRP, GMS, SSB
Post date October 31, 2023

What Kind of Costs Are Involved When Relocating an Employee?

A primary concern for companies when offering relocation packages is the cost. It can be expensive to move an employee and their family to a new destination. But frequently, companies who cover relocation costs for their new employees can hire from a much wider talent pool than those that can only make offers to local candidates. When a company’s relocation packages are constructed by an experienced relocation management company (RMC) there is an increased opportunity for savings and the elimination of unnecessary costs from your relocation budget at each stage of the talent mobility process.

Understanding what costs are associated with the relocation process and why they should be included in your relocation policies can help make sense of the price being paid. Before diving into some standard relocation costs, it’s important to point out that each company and its moving employees have different wants and needs when it comes to the moving process. This can make it difficult to generalize costs and prices for one-off relocations. However, these are some of the most common costs associated with talent mobility:

Real Estate and Corporate Housing Costs

One of the primary benefits offered in many relocation packages is real estate assistance. In many cases, employees only have a set number of days to move and will likely need help selling and buying a house or sourcing a temporary place to live in until a permanent home is found. Therefore, the most competitive relocation programs include a home-selling assistance program. Often, these programs have options where the company or the RMC will buy the home from the moving family then resell the property themselves to allow the employee to make their start date in their new destination on time. It is also prevalent for RMCs to urge companies to include specialized relocation real estate agents to assist moving families with selling and purchasing their homes during the relocation.

Other relocation costs most employees want to see covered are house-hunting trips. After an offer is made and accepted for the open position, the new or promoted employee will ask the company to cover or reimburse for a trip or two to look at potential new houses and schools with their real estate agent. While this can be expensive, it can show that the company cares about the employee and family settling in comfortably at their new destination.

For temporary housing assistance, many companies will cover anywhere from 30-90 days of corporate housing. Corporate housing, also known as short-term housing, is generally a furnished apartment for the employee to stay in while the relocation process is finalized. For example, employees may need to report to work for their new position while their family needs to stay back for a few days or weeks to tie up loose ends. Or, in some cases, the employee’s new home or apartment might not be available to move in for the first few days or weeks after they arrive.

Moving Costs and Shipping of Household Goods

The most obvious and sought-after relocation benefit is assistance with typical moving expenses, such as the movement of the employees’ household goods. There are a few different ways to approach moving assistance; in some cases, the company will handle hiring and coordinating the move with a vetted and approved moving company or van line. This type of relocation offer can usually save the company money as they can have direct insight into all expenses. In addition, multiple-bidding processes can further reduce costs by generating competition between potential suppliers.

The reimbursement of moving costs is another commonly extended benefit from another standpoint. Under this model, the employee may be responsible for sourcing their own movers while their company will reimburse a portion (if not all of) any allowable expenses, per company policy. Some companies may only offer assistance in the form of a lump sum relocation package. This means the employee will be provided a lump sum payment that is intended to help reduce the burden of moving costs to the employee – however the employee is generally left to their own devices in this scenario.

Household goods costs extend beyond “the movers.”. Many relocating employees need specialty or sensitive items shipped, such as automobiles or pets. And on top of that, many people who move need temporary storage units for their personal property while transitioning from corporate housing to their new full-time house.

Relocation Costs to Keep In Mind

While the list of relocation benefits a company can potentially cover is extensive, it’s essential to work with the RMC to ensure your policies are up to date by reviewing them every 12 months. This will ensure that your company stays competitive in the hiring field while also verifying the company is not wasting money on payouts for benefits that are not being utilized. Here is a quick look at some of the other typical talent mobility costs included in many relocation policies:

Schooling assistance
Spouse/partner career support
Temporary storage
Language/cultural education
Travel assistance
Tax gross-ups
Relocation coaching
And more

Evaluate Your Company’s Relocation Costs With a Courtesy Consultation

With current market forces, the price to relocate an employee can be unpredictable. It can also be costly if not done professionally. Global Mobility Solutions (GMS) is here to help with any questions about relocating employees. We make it a priority to assist your company in staying within its relocation budget. We know employee moving costs can add up quickly.

We offer various relocation tools and technology to make the relocation process for your employee as simple as possible. In addition, our qualified team can walk you through a comprehensive program review to see if your company can save money on your relocation packages. Contact us at any time when you’re ready to update or create global mobility benefits packages for your moving workforce.

Ready to Calculate Your Program Savings? Request Access Now!

Are you ready to calculate your potential relocation program savings? Request access to our easy-to-use Relocation Cost Savings Calculator. Your Mobility Pro will grant your access request within 1 business day.

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What Are the Benefits of Outsourcing Global Relocation Services?

Post author By Kimberly Chacon
Post date October 10, 2023

Portrait of cheerful young manager handshake with new employee.

learn why your company should work with a relocation management company for talent mobility

What are the benefits of outsourcing global relocation programs? For companies that have steady moving needs, there are many benefits to outsourcing this strategic function. Most learn they need to gain the knowledge and experience to manage talent mobility with in-house resources effectively. Outsourcing this critical activity provides them access to the industry’s best practices and thought leadership that will help their company’s international relocation program achieve success with virtually all relocation assignments.

There are five distinct benefits clients can gain from outsourcing their global relocation services with a trusted relocation management company (RMC):

Cost Management

For most clients, managing relocation costs is one of the most important reasons driving their choice to outsource relocation. 71% of companies working on relocation in-house need to be made aware of their total internal operating expenses. A lack of knowledge of the actual costs of relocation prevents the company from understanding how to utilize resources efficiently. They also cannot gain the most benefit from their global relocation program. A solution that provides full expense tracking and reporting is one of the top features clients seek as they consider outsourcing their global relocation program so that costs can be fully identified and reviewed for budgetary impact and program performance.

Savings With Outsourcing Global Relocation Programs

Outsourcing global relocation services should allow clients to obtain more significant cost savings. Some RMCs are not independent. As a result, they often do not seek multiple bids for household goods shipments and other services. An independent RMC provides clients with several opportunities to receive and review proposals on services, and this helps keep costs lower than other RMCs that don’t seek competitive bids.

Compliance

Transferees and their families often have questions about tax issues, visa applications, and other reporting requirements related to their global relocation assignment. To avoid putting the client’s company at risk for providing incorrect or insufficient guidance and advice, outsourcing global mobility management can provide expert guidance on unique relocation needs to help transferees find the right solution and help clients avoid any risks related to transferee requests.

Program Enhancements Through Outsourcing Global Relocation Programs

In-house programs only sometimes provide enhancements such as pre-decision tools, candidate assessments, auto lease programs, home purchase programs, and other value-added services. Choosing to outsource relocation services provides access to these services. Transferees and their families highly value these relocation program enhancements. Additional valued services include community tours, language training, outplacement services, school reports, and moving cost estimates.

Focus on Their Core Competencies

Working with an RMC lets human resources, compensation, benefits, and recruiting professionals focus on their core competencies. As a result, they can provide the best service in these business areas. In turn, experts at an RMC give the client’s international relocation program the best service. Choosing an RMC with the knowledge and experience to manage their entire program provides peace of mind and assurance that costs will be managed effectively, relocations will be successful, and transferees and their families will be satisfied with their experiences.

Work with the Best Global Relocation Service Provider

Global Mobility Solutions (GMS) has been helping customers get their employees from point A to point B since 1987. Our wide range of services and expert relocation specialists allow your company to get the necessary package. GMS will assist your company in putting together a global relocation plan that makes sense for your company and employees, all while staying within a realistic budget. If you are ready to discuss more about our offerings, please set up a free consultation with one of our business development managers by filling out this form.

We look forward to working with you!

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Tags corporate relocation, Domestic Relocation, global relocation, Global Relocation Tips

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How Relocation Management Companies Leverage AI Technology

Post author By John Fernandez | CRP, GMS, SSB
Post date October 3, 2023

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Learn how GMS leverages AI in their mobility programs

At Global Mobility Solutions (GMS), we view AI through a lens of practicality. We leverage predictive analytics and Artificial intelligence (AI) to learn, predicate, and automate our processes and improve the experience.

Few Relocation Management Companies (RMCs) fully understand the potential of AI and are in the process of discovery. However, some organizations leverage predictive analytics and defined algorithms to produce artificial intelligence specifically for relocation. These organizations gain valuable insights and automate operationally by incorporating predictive analytics and AI into their processes. Unlike many other RMCs, we fully recognize the immense potential of AI and related capabilities.

By leveraging AI, we can streamline and optimize various tasks, such as assessing housing options, calculating costs, and managing logistics. This saves time and resources and ensures a more efficient and accurate relocation process. Additionally, AI enables us to provide personalized recommendations and solutions based on individual preferences and needs, further enhancing the overall customer experience.

With the integration of AI becoming increasingly prevalent in various industries, we anticipate that more RMCs will follow suit and adopt AI within the next 18 to 24 months. This shift towards automation and data-driven decision-making will undoubtedly revolutionize how relocation management is conducted, ultimately enhancing the overall experience for individuals and businesses undergoing the relocation process.

As companies continue to explore the potential of AI and predictive analytics, we are committed to staying at the forefront of technological advancements in the relocation industry. By embracing these innovative solutions, we aim to provide our clients with the most seamless and stress-free relocation experience possible.

How does this change the relocation industry?

Recognizing that every move is associated with data points concerning expenses, geographical consequences, procedures, service durations, and essential trends. Businesses can swiftly examine extensive volumes of data to comprehend the reasons behind events and anticipate future occurrences.

Artificial intelligence aids in the relocation process by anticipating possible problems before it begins and improving its predictions as the process unfolds. Moreover, AI provides customized recommendations that facilitate comprehensive relocation management.

These recommendations include identifying relocation endeavors with a high risk, evaluating policies, estimating the overall duration and anticipated expenses, anticipating exceptional circumstances, adjusting milestones, issuing alerts, providing information about the destination, assessing authorization volume, forecasting performance, and more. Consequently, this leads to enhanced planning, execution, and cost-effectiveness.

Does AI help reduce relocation costs?

Although AI cannot replace the significance of human interaction in relocation, it will undoubtedly enhance the procedure and improve the overall experience. Incorporating AI in relocation management is predicted to decrease general expenses for numerous companies, mainly through adopting new AI technologies and integrating data in the relocation sector.

By incorporating AI in relocation management, companies can expect to see a reduction in overall expenses. It can significantly enhance the procedure and improve the overall experience. Companies can streamline operations and make more informed decisions by adopting new AI technologies and data integration in the relocation sector.

One of the key ways in which AI helps reduce relocation costs is through its ability to identify high-risk endeavors. By analyzing data and patterns, AI can pinpoint potential challenges and provide recommendations on how to mitigate them. This proactive approach allows companies to anticipate exceptional circumstances and adjust milestones accordingly, saving time and money.

Furthermore, AI can assist in evaluating policies and estimating the overall duration and anticipated expenses of relocation. By analyzing historical data and trends, AI algorithms can provide accurate cost estimates and timelines, allowing companies to plan and budget more effectively. This reduces the risk of unexpected expenses and ensures the relocation stays within the allocated budget.

In addition, AI can play a crucial role in providing information about the destination. AI algorithms can provide employees with valuable insights and recommendations by analyzing the cost of living, transportation, and local amenities. This helps employees make informed decisions and reduces the need for extensive research and costly mistakes.

Another way in which AI helps reduce relocation costs is by assessing authorization volume and forecasting performance. By analyzing data on employee authorizations and performance metrics, AI algorithms can identify areas of improvement and optimize resource allocation. This ensures that the relocation process is efficient and cost-effective, ultimately leading to significant savings for the company.

Connect with GMS to Learn More

In conclusion, while AI cannot replace human interaction in relocation, it is a valuable tool that can significantly enhance the process and reduce costs. By adopting new AI technologies and integrating data in the relocation sector, companies can improve planning, execution, and cost-effectiveness. With AI’s ability to identify high-risk endeavors, evaluate policies, estimate expenses, provide destination information, assess authorization volume, and forecast performance, companies can make more informed decisions and achieve successful relocations while minimizing costs.

GMS takes pride in being the relocation industry leader in technology. GMS’ relocation technology offers all the necessary tools for your employees. Movers can oversee and monitor their relocation process through the user-friendly dashboard of MyRelocation® technology. Staff members can stay informed about their benefits, communicate with their relocation advisor, and even stay updated on important dates. Our technology, which has received recognition, is a valuable and comprehensive resource for employees, thanks to its easy-to-use interface and user-friendly menu design and functionalities.

Our cloud-based MyRelocation® relocation technology is designed to help you streamline your company’s relocation management. Schedule a demo with a Mobility Pro for a no-pressure look at how our technology can help you.

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Tags Domestic Relocation Trends, global relocation, workforce mobility management

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When Is the Best Time to Budget for Relocating an Employee?

Post author By Sam Hoey | CRP, GMS
Post date September 20, 2023

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When to Set a Relocation Budget

When a company is relocating an employee, there are many expenses to track and logistics to coordinate to make it happen. When creating relocation policies and benefits on behalf of the company, there are many aspects of relocation to consider. This can include buying and selling a home, moving the employee’s household goods, and short-term housing in the new location.

With all of the complex movements required for a successful relocation, it can take time to know when to begin the budgeting process for the relocation. Should it happen before the position is posted? Before the employee is made aware of the opportunity? When does the company find the best prices for relocation services? While there isn’t a definitive answer, there are several mobility industry standards to consider when determining when to budget for the employee’s move.

The Right Time to Set a Relocation Budget

Typically, the best time to set a relocation budget is once the offer is extended to the candidate, especially if the company is working with a relocation management company. The primary reason is that the relocation company can work with the candidate to discuss their questions or concerns about the move. Allowing a relocation company to assist in the interview process can ensure the employee has their needs covered while the company is not overspending.

For example, an employee may have multiple cars that must be shipped to their new destination. After speaking with the candidate, the relocation company can then report back to the company on the potential costs and services needed to relocate the employee and their family.

If the company’s policies only cover the cost of transportation for a single vehicle, that information can be communicated back to the employee. Policy restrictions play an essential role in helping companies control costs. However, some organizations may agree to an exception to their policy to assist the employee with their move and ensure acceptance of the relocation offer. These changes will impact the total cost of the relocation.

Alternatively, the second-best time to start relocation budgeting is once the candidate accepts the job offer. Now that the employee understands that he or she is moving, the relocation team can work with them on what to expect and allow them to get the most out of the relocation benefits offered by their employer.

How to Calculate for Relocation Costs

When planning for relocation costs, there are many things to keep in mind, specifically costs like:

Real estate costs, such as buying and selling a home
Moving of household goods, cars, or pets
Travel expenses
Storage facilities
Temporary housing in the new location
Taxes

Once all foreseen costs are accounted for, the relocation budget can be managed by the relocation provider. It is recommended that companies work with a relocation management company that utilizes relocation technology and software that can include real-time tracking of employee moving expenses. This helps companies not only stay on budget but create or renew budgets for future relocations.

One of the first steps in calculating relocation costs is considering real estate expenses. This includes the costs associated with buying or selling a home. It’s important to factor in any fees or commissions involved. Additionally, if you’re renting a new place, you’ll need to account for the security deposit and any upfront rent payments.

Next, you’ll need to think about the cost of moving your household goods, cars, or pets. This can vary depending on the distance of the move and the amount of items you need to transport. It’s a good idea to get quotes from different moving companies to compare prices and find the best deal.

Travel expenses are another vital factor to consider. If you’re moving to a different city or country, you must account for the cost of flights or other transportation methods. This includes not only your travel but also any family members or pets that will be accompanying you.

Sometimes, you may need to utilize storage facilities during the relocation process. This could be necessary if there is a gap between when you move out of your current home and when you can move into your new one—research storage options in advance and factor in the monthly cost.

Temporary housing is often required when relocating to a new location. Whether it’s a hotel, rental property, or corporate accommodation, you’ll need to budget for the cost of staying in a temporary home until you find a permanent residence. Remember that these costs can vary depending on the location and duration of your stay.

Lastly, remember taxes. Depending on the country or state you’re moving to, additional surcharges or fees may be associated with the relocation. Researching and understanding the tax implications beforehand is essential to avoid any surprises.

To effectively manage the relocation budget, it’s recommended to work with a relocation management company that utilizes technology and software for real-time tracking of expenses. This allows companies to stay on budget and make informed decisions when creating or renewing budgets for future relocations.

Working with the Best to Setup Relocation Budgets

By considering all these factors and working with a reliable relocation provider, you can ensure your relocation costs are accurately calculated and managed. Planning and being thorough in your research will help you avoid any unexpected financial burdens during the relocation process.

Global Mobility Solutions (GMS) is here if you have questions about developing relocation budgets. Our team can support your employees in getting the most out of their relocation benefits while your company can stay within your relocation budget. Our team understands that moving multiple employees every year can be challenging, so our tailored global mobility solutions can help any company of any size seamlessly move any number of employees.

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Tags Budget, planning, relocation best practices, relocation budget, relocation management

Corporate Relocation Corporate relocation tips Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends

Reducing Moving Costs Through Government Relocation Incentives

Post author By John Fernandez | CRP, GMS, SSB
Post date April 4, 2023

view of city with mountains in background — Aerial panorama of Downtown Tucson, Arizona at sunset.

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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Tags government relocation incentives, Moving Costs, Relocation Costs, relocation incentives

Domestic Relocation Tips Domestic Relocation Trends Global Relocation Challenges Global Relocation Tips Global Relocation Trends Relocation Technology

Relocation Technology: Trends Changing the Global Mobility Industry

Post author By Tamara Molino | CRP, GMS
Post date March 1, 2023

young woman working on laptop — Shot of a young businesswoman using a laptop while working in her home office

Here’s a look at how technology is changing the employee relocation process

Modern technology has changed every industry. For the most part, each sector can use technology to its advantage and provide a more seamless customer experience. The relocation industry is no different. Relocation management companies (RMC) each have relocation technology that they try to utilize.

There are different apps, programs, and systems that RMCs can deploy to their customers. But when taking a bid from an RMC to provide your company with global mobility programs, it is essential to ask about their technology specifically. Ask the RMC to provide you with a list of advantages on how their tech tools can help get your employees from point A to point B.

Here is a breakdown of some of the increasing relocation technology trends in the global mobility industry:

VR House Hunting Trips

When working with an RMC to set up relocation packages, often house-hunting trips will be included. Usually, the employee is about to travel to their new destination twice to look at potential new homes and neighbors. But thanks to technology, relocating employees don’t have to cram all their house hunting into one or two trips.

Virtual reality (VR) home showings have become increasingly popular since the Covid 19 Pandemic. Using ubiquitous 360-degree cameras can be a great way to showcase a property to a potential buyer anywhere, anytime. This tool gives the buyer a panoramic presentation of the house or apartment for sale.

Many US real estate agencies have begun creating home listings with VR showcasing options. No one will buy a home without looking at it in person first. But at least VR setups can give a moving employee a worthwhile first look at a home they may want to purchase.

AR for Visualization Shopping

When moving to a new destination, setting up your new home or short-term housing option will be top of mind once you get there. That’s where augmented reality (AR) can be of assistance. AR technology combines virtual components to see what a surrounding area will look like if it’s changed.

The most straightforward example to call out would be furniture shopping. Some apps use AR so that a customer can snap a picture of the area in the new home they hope to put the furniture in to see what it will look like. This is helpful when buying household goods for your new home.

Another excellent example of how AR tech can be used is if home upgrades have to be made to your property in the new destination. If you want to reconstruct the backyard or remodel a bathroom, apps can give you a great layout of how the project will look once completed.

Cloud-Based Technology to Stay Organized

The most crucial piece of relocation technology that an RMC can provide is a portal where employees, employers, and relocation representatives can live-track the relocation process. Think of it as a portal where all the info on an employee’s move can be kept and accessed. This makes it easy for the employee to stay organized while the employer can track costs and spending. It also serves as a place where the relocation expert assisting the employee with their move can provide information and insight into oncoming steps for the move.

This is something that every company should ask their RMC about. Using cloud-based technology so that it is up to the moment updated can keep everyone on the same page about any given employee’s relocation.

Doc-Signing Technology

An essential part of relocation is document signing. Numerous vital documents must be signed when someone is relocating—starting with their job offer letter to home buying and selling documents. Technology has made signing documents easy and more environmentally friendly. Gone are the days when you have to print, sign, and mail back stacks of paper. Plenty of apps allow companies and RMCs to review, edit, and sign documents within minutes. This not only saves on paper but saves on the chance of documents getting lost or stolen in the mailing process.

Cost of Living Calculators

When an employee accepts a position in a new destination, one of the first things that may cross their mind is the cost of living factors. Moving to a city that may cost more to live in, will affect the salary and relocation package negotiation. If working with an RMC, mention to them that having a legit cost of living calculator that can give precise numbers can be extremely helpful in the hiring process.

If an employee can see side-by-side comparisons of the current cost of living vs. where the job is located, they can make a quicker decision. This allows everyone to move on faster, whether the employee accepts the relocation assignment or the company can proceed with other interviews.

GMS Is Always Up to Date on technology

Global Mobility Solutions (GMS) is the leader in the relocation industry regarding technology. Our award-winning customer service team assists employees to relocate seamlessly by utilizing MyRelocation®.

MyRelocation® is a cloud-based system allowing transferees to track and monitor their relocation through a user-friendly dashboard. Employees can access benefits, communicate with their relocation coach, and stay informed of critical dates. Our tech, which won an award, is a valuable and robust asset for staff, with a user-friendly interface, easy menu layout, and functions.

Please contact us today for a free walk-through of MyRelocation® or a free courtesy call to benchmark your current relocation packages. One of our relocation experts will be more than happy to hear any of your relocation needs and then best assess how we can help you.

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Tags corporate relocation, Global Relocation Tips

Corporate Relocation Corporate relocation tips Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends

Money Management Tips for Relocating to a New City

Post author By Sam Hoey | CRP, GMS
Post date February 14, 2023

young woman with friendly dog in their new house with moving boxes. — Woman and dog flooring in new home

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:

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.
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.
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.
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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Tags Domestic Relocation Tips, Domestic Relocation Trends, relocation assignment, relocation tips