Category: Global Relocation

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Global Mobility Solutions Recognizes Top-performing Relocation Industry Partners at 2015 Forum and Awards Dinner

SCOTTSDALE, Ariz., Mar. 03, 2015 – Global Mobility Solutions, an international leader in corporate relocation services, recently hosted its 2015 Forum and Awards Dinner to honor members of its Premier Alliance Network who have shown extraordinary dedication to customer service throughout the year.

Armbruster Moving of Mayflower Transit received Platinum Partner of the Year award, while Unipack Global Relocation accepted honors for International Partner of the Year. Atlas Van Line providers V. Santini, Inc. and Lytle’s Transfer and Storage were awarded Silver and Gold Partners of the Year, respectively.

Adam Lowy, founder of non-profit Move For Hunger, speaking at GMS 2015 Forum & Awards Dinner | Service Unplugged.
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The theme of this year’s forum was “Service Unplugged,” a nod to the fact that great customer service begins at the personal level – and that technological conveniences are merely tools. The event was held on February 5th at the Hotel Palomar in Phoenix. Hal Becker, bestselling author and renowned expert on customer service and sales, delivered the keynote address. Following Hal Becker’s Keynote speech, a Global Mobility Solutions Client Q&A Panel was held, where partner’s top priorities were discussed in depth. Guest speaker Adam Lowy, founder of Move For Hunger, offered some compelling remarks on how the relocation industry, and GMS in particular, have made tremendous strides toward ending food insecurity. In addition to guest speakers, the 2015 forum featured breakout education sessions between providers and Global Mobility Solutions’ leadership, discussing customer service improvements and efficiency.[divider line_type=”No Line” custom_height=”30″]

“Our 2015 forum and awards dinner was an opportunity to celebrate and recognize exceptional service within the Global Mobility Solutions’ Premier Alliance Network. I’d like to personally congratulate this year’s winners, who have consistently demonstrated the highest standards in customer service,” remarked Steven Wester, president of Global Mobility Solutions. “We simply can’t do what we do without the participation and support of these fine partners – they’ve contributed immensely to making our brand a trusted leader.”

Global Mobility Solutions 2015 Forum and Awards Dinner Keynote Speaker Hal Backer Posing with GMS President Steven Wester. From left: GMS Vice President of Global Services John Fernandez, Keynote Speaker Hal Becker, GMS President Steven Wester, GMS Chief Administrative Officer Fayette Wester.
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“Service Unplugged” evokes the core, hands-on attributes that define winning customer service. For GMS, that means giving individuals and families the most seamless possible relocation experience – allowing them to focus on starting a new life in a new city rather than worrying about logistics. In selecting this year’s award winners, GMS relied on its in-house scoring system that grades the performance of every member of its Premier Alliance Network. On-time performance and claims are among the factors that generate a partner’s score, but customer satisfaction is the most heavily weighted data point.

About Global Mobility Solutions

Founded in 1987, Global Mobility Solutions is a global corporate relocation services company that specializes in workforce mobility. The company’s corporate services include global assignment management, domestic relocation management and a range of pre-decision solutions. Global Mobility Solutions was ranked second in the relocation industry for overall customer satisfaction in HRO Today’s Annual Relocation Survey.

View the full corporate relocation forum gallery on Facebook

Contact:

Thomas Belnap, Marketing Director
800-617-1904 ext. 8832
[email protected]

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Global Relocation Global Relocation Trends

Changing real estate trends in Germany may affect assignee housing decisions

The real estate market in one of the most powerful economies in Europe is undergoing a major shift. History has shown Germans would much rather rent their homes than buy them, which may explain the country’s 43 percent home-ownership rate in 2013. However, this trend has recently shifted in a way that could impact global mobility down the road – particularly the way assignees go about finding a place to live.

A nation of renters
According to a recent article by digital business news outlet Quartz, Germans began renting in the 1930s and 1940s. After West Germany was established in 1949, the government created its first housing law. The law was designed to boost the construction of houses, and by 1956, the nation cut its housing shortage in two. Few Germans had enough money for a down payment on a house, though. The mortgage market was weak, so banks required citizens to front large sums of money for home ownership. As a result, the renting trend was born.

History has shown Germans would much rather rent than buy their homes, which may explain its 43 percent home-ownership rate in 2013. “History has shown Germans would much rather rent than buy their homes, which may explain its 43 percent home-ownership rate in 2013.”

 

Cheap rent has been a real estate mainstay for many years in Germany, partly because rent increases are capped at 15 percent over three years. Regulations prevent any increase in rent whatsoever during a tenant’s first year. For those living in urban areas where demand is high, new rent prices will be capped at 10 percent more than the area average, thanks in part to new rent brake legislation signed by Prime Minister Angela Merkel’s cabinet in January, national news outlet DW reported.

Government legislation in Germany traditionally favors renters over homeowners, which isn’t surprising considering this demographic has represented a large portion of the population for many years. For example, the German government does not allow homeowners to deduct mortgage-interest payments from their taxes; a sharp contrast to the benefits of homeownership in the United States.

Times are slowly changing
Despite the federal regulations favoring renters and cheap rent prices, real estate trends appear to be changing in Germany. According to the Cologne Institute for Economic Research, Germany experienced a sharp increase in the number of people buying homes between 2009 and 2013. This trend is largely due to the fact that people are taking advantage of low interest rates throughout the country. What’s more, foreign investors are showing great interest in the nation’s real estate.

Although there is legislation capping rental prices at 10 percent above market average in urban areas, that only limits price increases so much year over year. Research from the VDP Association of German Mortgage Banks found rent for newly leased apartments rose 4.6 percent year over year between the third quarter of 2013 and 2014, Bloomberg recently reported.

That, in conjunction with low interest rates and easy financing for property purchases, has home ownership growing in popularity in Germany. Home values have climbed 5.2 percent from last year, and multifamily housing also jumped more than 7 percent in value. Assignees relocating to Germany can take advantage of low-interest rate mortgages, particularly in Eastern Germany. The CIER’s five-year analysis of 402 German counties revealed that side of the country is a highly feasible region for buying a property. Assignees relocating to Germany can take advantage of low-interest rate mortgages, but need to ensure they consider all of the financial impacts. Higher down payments are usually required from expats because they represent a higher financial risk. Additionally, consideration must be given towards disposing of the property and any potential capital gains tax that might be owed if they relocate again.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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3 things assignees need to know about expat health insurance

Shot of a young businessman using a digital tablet during a late night in a modern office

An increasing number of assignees are extending their stays abroad, which may require employers to consider more permanent relocation benefits for their expat mobile workforce. For instance, employees moving internationally for longer periods of time may likely have a greater need for expatriate health insurance.

Talent living and working abroad should have access to quality health care; but for a wide-variety of reasons, insurance may not be the same in the host country as it is in the United States. Keeping that in mind, here are three things assignees and their employers should know about expat health insurance:

One-quarter of uninsured respondents cited good health as the primary reason for a lack of coverage. One-quarter of uninsured respondents cited good health as the primary reason for a lack of coverage.

  1. Uninsured individuals face massive health bills: Relocate Magazine cited a recent online survey conducted by health insurance provider Now Health International that found one-quarter of expats fail to take out international health insurance when they move abroad. The 25 percent of uninsured respondents cited good health as the primary reason for a lack of coverage. Yet, as medical care costs in popular expat areas continue to grow, the uninsured will face large bills if their optimism proves to be incorrect.
  2. Some countries are better providers than others: Access to medical resources and the level of industrialization are two key reasons why some nations have better expat healthcare options than others. Taiwan is one of the highest rated countries for both healthcare affordability and quality. In fact, in its most recent Expat Explorer survey, HSBC found that nearly 70 percent of assignees in Taiwan spent less on health care while on assignment than in their home country. While assignee satisfaction with Taiwanese healthcare affordability and quality is 3 times the global average, inexpensive health care options can also be found in the U.K., Thailand, Japan and Saudi Arabia. The U.S., Ireland, Brazil and New Zealand are on the opposite end of the spectrum.
  3. Employers want to provide it, but they can’t always afford it: A study conducted by Expacare found 23 percent of employers want to provide health insurance for talent abroad but don’t have room in their budgets. However, budget restricted employers can still help their assignees by providing information and resources covering the host location’s healthcare system and available expatriate insurance options. Although some countries provide universal health care solutions, dependence on government programs can be risky. In fact, Twelve percent of respondents in the Now Health International study thought they would be taken care of by their host country’s health care system. However, a growing number of nations are beginning to pass legislation that limits expat coverage to accident and emergency incidents only; one of many reasons that highlight the need for quality assignee education on expatriate healthcare.
  4. There are sources to learn about expat health insurance: VisaGuide.World has developed a useful resource that explores the topic of health insurance for expats, including its importance and how to purchase an expat health insurance plan.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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How to oversee and provide support for millennial transferees

Couple on floor next to moving boxes

The face of talent management is changing for a wide variety of reasons, but the impact of technology has been a particular catalyst for this evolution.

Today’s new workforce wants to be a part of the new globally connected workplace. Businesses are beginning to see the value in relocation assignments in new and diverse markets, and it’s often young adults who are making the trip to a new location. Companies are investing in the future of talent mobility because millennials are not only well-versed in the technology that’s driving mobility growth, but also because young adults are the future of the modern-day workforce. According to a recent PricewaterhouseCoopers study, Gen Y currently accounts for one-quarter of the workforce. By 2020, that figure will increase to 50 percent.

Support millennials during relocation
Their skills are in high demand, seeing as increased relocations and development in technology are coinciding with one another. However, since industry practices are evolving, the manner in which companies support and oversee transferees will have to mature as well.

A recent Deloitte study outlined a support framework for companies to follow during relocation management. The framework is based on the business value of sending an employee to a new market and the development value for talent growth. Millennial relocation is primarily characterized as a “learning experience” in that it doesn’t cost companies a lot to move young talent, but the developmental ceiling is high since the employee is looking for diversity in experience and professional growth.

Millennial employees want their companies to embrace new technology.
Millennial employees want their companies to embrace new technology.

Businesses that move young employees are helping to develop well-rounded leaders of the future. When it comes to millennial support, businesses are primarily focused on developmental reinforcement above all else. PwC found Gen Y employees are more committed to personal learning and development than flexible work hours and cash bonuses from their employers. Seventy percent of millennial respondents said work-life balance was very important to them, so businesses need to moderate the number of hours young assignees work.

Before and during the move, businesses should be ready to offer rental assistance programs, especially those with housing options. Young employees are active, experience-seeking individuals who want to be surrounded by others like them. Helping transferees find lodging in a walkable or culturally vibrant neighborhood is a great place to begin during a relocation, especially since young employees don’t own vehicles like they did in the past. In fact, a recent AAA Foundation for Traffic Safety study found from 2007 to 2011, the number of automobiles purchased by adults aged between 18 and 34 dipped nearly 30 percent, Fast Company reported.

Millennials also have different needs than previous generations; they expect employers to adopt new technology and the flexibility it brings to their lives. Certain rental assistance programs can extend the resources young employees desire to better help streamline the transition. Things like mobile apps and do-it-yourself tools are two aspects of a strong millennial relocation as well. Even corporate resources like hands-on job training or settling-in services that help the employee acclimate to his or her new surroundings are highly beneficial during the process. Millennial transferee support doesn’t stop once the wheels hit the ground in their new location; rather, it’s an ongoing process that requires meeting their complex needs and doing so in a fashion that they can ultimately connect with on a comfortable level.

Since the demand for talent mobility is growing, companies need to adjust with the evolving state of the industry. Young employees are a good investment from a business and developmental standpoint, but they need to be supported with the right technology and continual training and support that will fuel professional growth.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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HR innovation and talent management: A perfect pair

relocation coach helping a moving employee

The global economy is a more diverse marketplace than ever before. Workers on one end of the world can connect with employees thousands of miles away in real time thanks in part to the latest technological advances. As a result, international operations are growing, and global mobility is now an integral part of expanding business processes.

Although international relocation has become an important aspect of improving global operations, a surprising number of companies are still handling assignments in similar ways they were performed years ago. Development in technology has had a major impact on talent mobility over the years, but if companies want to keep pace with increasing global demand, they’ll need to implement cutting-edge systems as international assignments become more common in the workforce.

HR technology can drastically impact talent mobility processes.
HR technology can drastically impact talent mobility processes.

Human resources must embrace technology
A stand-alone approach to global assignments is outdated now that mobility has become a standard practice across different verticals. Human resource information systems must integrate with supporting technologies that incorporate assignee data into the company’s general HR database, as it is crucial to creating a ubiquitous mobility process. A unified system helps create affordable, scalable and realistic processes that can grow in unison with increasing global demand.

Cutting-edge HR technology plays an integral role not only in streamlining mobility processes, but it also aids in back-end organization. For these reasons, the HR technology market is now worth more than $15 billion in software alone, according to a recent study conducted by Bersin & Associates, which cited Bloomberg statistics. In fact, the human resources consulting firm said the value of new tools that help in managing employee communications, recognition and workplace wellness is also growing rapidly. In fact, the top 50 venture deals completed in 2014 totaled more than $560 million.

What’s the next step?
Certainly, the recent influx of investment in HR technology is promising for international relocations, but human resource departments need to make smart and strategic steps when implementing new technology into existing mobility processes. According to workforce mobility association Worldwide ERC, member companies individually invest an average of more than $15.7 million in each year for global transfers. This points to the need for businesses to outline a smart and strategic mobility framework. Too much money is at stake to consider anything otherwise.

Since international mobility has become a norm, organizations need to know how to outline an actionable and profitable plan for a successful assignment. A recent Deloitte study outlined how businesses can diversify their talent mobility designs based on two key dimensions: development value and business value. The design helps companies ensure that the level of support they provide to assignees is justified based on the forecasted business value of each assignment. There are four categories in the value-based approach:

  • Learning experience: These assignments are high in development value and low in business value because the talent – often young, promising employees – are expected to bear some of the costs associated with the move in exchange for global experience and professional growth.
  • Commodity job: Target employees are volunteers or low-cost talent, which makes this level of support low in business and development value. These are designated for local and at-risk assignees.
  • Strategic opportunity: These assignees are the future leaders. The focus here is on development, experience and retention, which makes this level of support high in development and business value.
  • Skilled position: Although low in development value, skilled position employee support during a relocation is high in business value because these assignees typically have specialized skill sets. They have deep, niche capabilities and are rapidly deployed on project-based assignments.

This type of framework, when used in unison with cutting-edge HR technology, can add significant value to any international assignment process. Not only will it help businesses decide the financial viability of certain assignees, but it also provides a framework for HR departments on how much support to give during the process. Companies can also use smart strategies and technology to develop and retain the next generation of leaders – the majority of which are not only willing to, but expect to be internationally relocated at some point in their careers.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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Going global: The future of talent mobility

Singapore business district skyline panorama over Marina Bay

Thanks in part to recent developments in workplace technology, productivity and professional development are no longer limited by geographic boundaries. Corporate talent can easily complete work from various locations.

As markets continue to expand, more businesses will find it necessary to increase workforce mobility around the world. A recent Price Waterhouse and Coopers study found that assignee levels have increased 25 percent in the last 10 years and are projected to grow another 50 percent by 2020. With the projected mobility increases, businesses may want to keep their eyes on industry trends. Here are three issues to keep in mind to prepare for the future of talent mobility:

Businesses must adopt new technology to better connect a globally diverse workforce.
Businesses must adopt new technology to better connect a globally diverse workforce.

The future lies in the cloud
The estimated increase highlights the need for companies to surround employees with the right technological infrastructure to maintain productivity. Cloud-based systems may increase talent agility and flexibility since employees can access corporate information on a moment’s notice with an established Wi-Fi connection. Especially as the younger workforce continues to mature, these individuals will likely require more diverse business interactions.

Attract top talent through new technology
Young assignees are open to change. They often embrace new challenges and view relocation as a means of professional development. In fact, a separate PwC study found 37 percent of millennial respondents would like the opportunity to go on a global assignment. This can become a reality if and when businesses adopt cloud-based applications for everyday business operations. Once this technology is implemented, geographically separated employees become better connected, which in turn improves collaboration and productivity. Pew research found that nearly one-quarter of millennial respondents felt technology set their generation apart from older age brackets. These technologically savvy employees want to work with cutting-edge technology.

Businesses can position themselves as innovative and progressive by implementing new technology. Recent Deloitte research revealed that  78 percent of millennial respondents said they were influenced by how innovative a company is when deciding if they want to work there or not. Corporate adoption of new technology not only eliminates workplace borders, it also has the potential to draw some of the best talent in the workforce at any age, not just young adults. Sometimes some of the best, most experienced employees developed strong skill sets because they were early adopters of new technology.

Standardization and price reductions
In addition to new technology implementation, market trends demonstrate that companies are looking to reduce short-term costs in their mobility programs. Certainly, the current domestic and global economic landscape may be a primary driver in cost reductions, but it’s important to effectively manage costs at all times, regardless of the surrounding economic conditions. According to a recent industry survey, 72 percent of respondents attributed economic conditions to an overall reduction in international assignment costs.

With a potential decline in global mobility costs, as well as a projected growth in assignee relocation, employers are beginning to focus more on international compliance with industry standards. Minimizing relocation timelines to increase assignment success is also contributing to standardization and central decision-making authority. While traditional averages of standardized policies were around 72 percent, the survey found 92 percent of employers indicated they standardized policies on a global level versus a regional or divisional level.

As companies continue to standardize their relocation policies and implement cloud-based infrastructures, costs will likely go down. Moreover, adoption of new technology can attract top talent – most of whom are looking to make a move abroad for the sake of professional development. Cloud-based systems can also help connect globally differentiated employees without sacrificing collaboration or productivity. A managed and cutting-edge approach to talent mobility is the way of the future, and it could very well drive down costs in the process.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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Growth in rental market poses challenge to talent mobility

Phoenix Arizona city skyline at dusk, showing a beautiful city destination for companies considering a 2020 Phoenix Relocation

Rental Market Workforce Mobility Challenges

Rental fees are increasing, thanks in part to a tightening rental property market, increasing the challenges for rental market workforce mobility as renters are facing higher prices while wage raises grow at a tepid pace. Domestic relocation may be impacted as a result, posing a challenge for transferees as they look to take on a new location. Companies can provide relocated talent with help before a move, but as rent in most markets continues to mature, transferees are likely to see a larger portion of their income spent toward rent.

Rent, Number of Renters Increasing

Rent is growing in a number of major markets.
Rent is growing in a number of major markets.

According to new industry research, the number of domestic renters grew in 2013. More specifically, a recent study conducted by the National Low Income Housing Coalition found that last year there were 42.4 million renters in the U.S., which represented slight growth from the 41.9 million in 2012. High housing costs continue to plague the modern-day renter as the rental property market tries to combat historically low vacancy rates. Renters made up 36.5 percent of all households in 2013, a nearly 1.5 percent increase from 2012 and close to 4 percent more than in 2006.

Major domestic metropolitan areas have experienced moderate to steep inclines in rent per household in recent years as well. The New York Times, citing real estate website Zillow, recently pointed out that 90 cities in the U.S. had a median rent that was more than 30 percent of the median gross income when factoring out utility fees. Individuals moving within domestic borders will likely have to dedicate a greater portion of their salary toward housing costs. As a result, there is less room for peripheral moving expenses, which can add up quickly.

Further research shows rent will likely increase in the near future as well. Citing research firm Capital Economics, The Times noted rent could rise as much as 4 percent this year, which is a modest incline from the 2.8 percent growth in 2013. However, as inflation in certain markets is annually at 1 percent or higher, rent increases could even outpace Capital Economics’ projections. For instance, rent in Miami costs, on average, 43 percent of the typical household income. In Chicago, that figure rose 10 percent in one year as renters give way to 31 percent of their incomes on average.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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Top 5 emerging international markets

Walking through the beautiful streets of Dublin, Ireland

When it comes to the corporate relocation process, finding the right fit for employee mobility can be difficult. Different areas of the world are better positioned for personal and professional growth depending on the vertical, but developing in an emerging market is much easier said than done. A multilayer economic hotspot may be the ideal location to relocate talent for new or existing business ventures, but it takes time and a depth of knowledge to successfully adapt and find personal success in a new market.

A recent Forbes analysis of international GDPs found 70 percent of world growth in the next several years will come from emerging markets. Although China and India comprise about 40 percent of that maturation, there are still other viable options for businesses aiming to relocate talent. Keeping that in mind, here are five emerging markets to keep tabs on for a potential international relocation and reasons to further invest in talent relocations in these geographical areas:

  1. Emerging markets offer unique opportunities for expatriates.
    Emerging markets offer unique opportunities for expatriates.

    Central America: Although this encompasses several different countries, the region is small enough where businesses could individually identify local economies and choose which one best aligns with their business needs. CBS News recently came out with a list of the ten best places to invest in real estate, and half of the locations were located in Central America. The low cost of living and typically warm climate make for happy employees, which is a primary objective of global relocation. In terms of real estate investment, finding a return in this region of the world won’t be as difficult, either. CBS specifically cited Mexico, two cities in Belize, Nicaragua and Panama as possible real estate investment gold mines. Businesses and their employees can consult relocation services on the best areas to buy or lease property once a move location is decided.

  2. Colombia: The South American nation isn’t exactly well-known on the international stage as a manufacturing haven, but it’s proximity to the coastline, strong economic growth and cost of doing business make it a viable possibility to relocate talent. Bloomberg predicts GDP growth between 2013 and 2017 will occur at a rate of nearly 22 percent with just a 3 percent inflation rate. A separate Reuters report noted Columbia’s economic growth was as high as 6.5 percent in the first quarter of 2014, although that figure dipped to 4.3 percent in the second quarter. A strong economic backbone and low projected inflation present an opportunity for relocated talent to find personal and professional success.
  3. Indonesia and Malaysia: While China, India and Korea dominate the economic growth talks, smaller nations such as Malaysia and Indonesia are gaining a considerable amount of attention with regard to commercial prosperity. The two nations are separately governed bodies, but the bordering nations’ economies will likely continue to grow in the next few years. Indonesia’s GDP is projected to grow more than 30 percent between 2013 and 2017, while Malaysia is expected to mature 22 percent in the same time period. The latter nation’s inflation rate is as low as 2.5 percent and has a considerably low ease of doing business rank, according to Bloomberg. While vast cultural changes may prove to be a challenge for newly moved employees, global relocation firms can provide talent with services to help the settling-in process, whether it’s through offering van line services, tax preparation or providing ongoing counseling and support after the move.
  4. Turkey: Bloomberg also ranked Turkey in its top-20 emerging markets, calling the nation the seventh-most viable nation for economic growth. Its GDP is forecast to grow more than 21 percent between 2013 and 2017, but its inflation rate is 5.4 percent, which has pundits jumping off the Turkish bandwagon. However, Turkey is a highly opportunistic market not only because of the current local real estate boom, but also because its workforce is packed with young and emerging talent. CBS News reported that half of residents in Istanbul, the nation’s capital and largest economic market, are aged 30 and younger, meaning buying power in Turkey is likely to increase as the rest of the population ages. Young talent may enjoy moving to this Western European and Southeast Asian nation not only because of its projected GDP growth, but also because of the young and emerging talent surrounding them. A youthful workforce in the nation’s capital specifically may help newly moved talent find individuals who have similar interests and desires, thus making the relocation process easier.

Emerging markets provide a strong opportunity to relocate top talent. Businesses can benefit from sending employees to other countries to help further develop company production and create new business resources. Recent Ernst & Young forecasts show investors are already exploring emerging markets as developing countries are attracting half of foreign direct investment. Companies focused on employee mobility are moving toward emerging markets, and a business that relocates its top talent to these locations could directly benefit from regional economic growth.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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Global Relocation

3 Tips For Seamless International Talent Relocation

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

Relocating business within the U.S. is difficult enough, but when a company needs to relocate talent to another country, things can get even more challenging. According to a recent Atlas Van Lines survey, 27 percent of respondents are expecting their international relocation volumes to increase. Keeping that in mind, here are three tips to help with an international talent relocation process:

  1. Help the employee get accustomed: Moving a single employee or a group of individuals is a complicated task, which is why it’s critical to help transferees get accustomed to their surrounding environments before they start working.
    International talent relocation presents unique challenges.
    International talent relocation presents unique challenges.

    If employees aren’t able to arrange a visit to the new location before they pack their things and move, they should do as much research on the area as they can, Forbes suggests. This may include reading local news or publications that focus on the surrounding area, which can help new residents get accustomed to the language and cultural interests. Cultural training is one of the most highly overlooked areas of employee training, and depending on the destination, can be crucial to assignment success. Culture shock is a very real phenomenon that impacts many western travelers. When preparing for or managing culture shock, the U.S. Bureau of Educational and Cultural Affairs recommends keeping an open mind, staying physically active and making an effort to get to know other people as much as possible.

  2. Paperwork exists outside of the office: When talent is relocating overseas, they must first get their paperwork in order, otherwise the move won’t happen at all. A business can significantly help its employees do their homework on important travel documents such as customs and immigration information to Visa acquisition or even identifying which vaccinations, if any, their talent has to get before they depart. Some countries have currency restrictions for entry as well – so companies that do their due diligence will make the moves much easier on their employees. The IATA and the U.S. Bureau of Consular Affairs are both excellent supplementary resources that outline what countries require upon arrival.
  3. Hire an experienced partner: If a business is unsure how to tackle this issue, global relocation management companies can provide insightful solutions necessary to navigate today’s mobility challenges. In fact, Relocate Magazine highly recommends employing a trusted partner in this capacity, especially if management or C-level executives are unfamiliar with global relocation, much less the new area where they’re moving their talent. Even if higher-ups have employee relocation experience, global relocation firms can provide unique and fresh insight into each move. Whether a company needs a partner to help with the entire move, or just needs to outsource certain aspects of a relocation effort, third-party talent relocation firms can help alleviate a large amount of stress and weight off of a business’s shoulders by providing faster, more efficient and often cheaper results.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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3 Business Relocation Budget Tips

Millennial generation father working from home with small children while in quarantine isolation during the Covid-19 health crisis. Little boy is two, little girl is four. Father has tattoos and a beard. Horizontal indoors waist up shot with copy space.

Thanks in part to today’s digitally driven business landscape, the possibility of relocating an operational arm or corporate headquarters to a different region is a much greater possibility. For some companies, it makes economical sense to move talent to other parts of the country or globe. Yet, although these moves often have the intention of boosting bottom-line revenue, relocation costs can add up quickly.

Keeping that in mind, here are three tips a relocating business can use to help save on its moving budget:

  1. Business Relocation Budgets: Moving talent from point A to point B requires planning and research.
    Moving talent from point A to point B requires planning and research.

    Get estimates from multiple providers: Assuming that a business has already chosen a new market and a new office space, the logistical aspects of moving now come into play. Moving offices and employees is a massive undertaking, and it’s important that a business gets the most value in the relocation. That said, businesses should get multiple estimates from reputable firms so it can choose which option best fits its budget. Company leaders should also try and negotiate rates on the long-distance moves. Additionally, relocation management companies are experts in group move coordination and can leverage their volume for better rates with van lines.

  2. See what tax breaks are available: The U.S. tax code is an ambiguous piece of legislation, but there are a lot of breaks for business expenses that some firms may not know about. It could  be worth the time to hire a third party to research federal mandates or appoint internal resources to do due diligence in identifying potential tax breaks for moving. Reuters reported that businesses can write off moving jobs overseas as a business expense and can claim deductions on those capital outlays. Since moving is a large business expense, claiming it on tax returns could be financially beneficial down the road, especially if jobs are going overseas.
  3. Understand your rights: The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration outlines a number of rights and responsibilities that businesses are entitled to before, during and after the relocation. For instance, by law, a van line must move a client’s belongings in a timely manner, according to its website. The moving company must provide a written record called a reasonable dispatch service, and if there’s a delay, the company must then prepare a written record of its amended date for delivery. Since business relocation is an expensive undertaking, it’s important that organizations make sure the entire logistical process runs smoothly.

Brought to you by Global Mobility Solutions, a trusted partner in global talent management.

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