Category: Relocation Programs

Expedited Bidding Benefits: How Your Company Can Gain Immediate Results

Post author By Nancy Kritzer | CRP
Post date November 23, 2020

Two male and two female Relocation Management Company representatives presenting their proposal by video to a male Human Resource Professional who hopes to gain expedited bidding benefits

If your company is seeking better results from your relocation program, expedited bidding benefits bring immediate savings. As many companies learn, outsourcing the management of their relocation program to a Relocation Management Company (RMC) provides several advantages. Doing so through a quick process helps the company achieve even greater results in the short term. Companies that use an expedited bidding process report significant savings in both time and costs.

GMS’ benchmark study of companies that leverage an expedited approach to bidding on the management of their relocation program show why this is a preferred process. Our team of global relocation experts has identified the top five expedited bidding benefits that companies can expect.

Top 5 Expedited Bidding Benefits

1. Cost Savings Right from the Start

Companies instituting an expedited approach create competition in the process. Relocation Management Companies pursuing their business will put forth their most competitive fee structures. Direct costs are likely to be the lowest in the quest to obtain the account. With these immediate savings from the expedited bidding process, companies are assured of cost effective solutions.

2. Complimentary Consulting

Some of the most valuable expedited bidding benefits related to mobility consulting. As part of the process, companies can request many of the following at no cost:

Policy development and revisions
Relocation program design
Current policy reviews

As part of this process, companies can learn much about an RMC’s abilities, including:

Knowledge of relocation processes
Level of experience on points important to the company
Consulting work quality and timeliness

3. Speedy Implementation Saves Time and Offers Quick Access to Expedited Bidding Benefits

Expedited bidding benefits relating to time savings can directly correlate to cost savings. The quicker a relocation program be implemented, the quicker the company achieves program savings and efficiencies. GMS’ data shows that on average, more than 90% of companies using expedited bidding complete their relocation program implementation in just 22 days. Given the amount of work that may be involved, including creating relocation APIs, policy documents, and communication, a shorter implementation timeframe lets the company quickly return its focus to other strategic objectives.

4. Process is a Better Fit for Buying Solutions

Companies that retain an RMC to manage its relocation program understand they are buying solutions that will help their employees. As a result, these solutions require a much different approach than the process they would use to purchase equipment parts or to source machinery. Ultimately, relocation management requires that the company ensures the right fit for the right reasons. The right fit ensures the company will maximize their expedited bidding benefits.

5. Frees up Administrative Burden of Formal Requests

Companies that fully understand their purchasing processes know the amount of administrative burdens and resources necessary to complete formal Requests for Information and/or Proposals. By foregoing these types of resource-intensive approaches that often create more problems for the company, employees can pursue value-added activities while RMCs carry the burden of responses.

What Should Companies do to Gain Expedited Bidding Benefits?

Companies should seek to gain expedited bidding benefits by utilizing an expedited process for outsourcing the management of their relocation program. Relocation Management Companies with extensive industry experience and knowledge will prove to be the best resources in this effort. Qualified RMCs will guide companies to successful results with a customized, right-fit program and greater expedited bidding benefits.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients with their relocation programs. Our team can help your company gain the maximum amount of expedited bidding benefits by leveraging our expertise to present the most cost-effective and efficient relocation management solutions.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation^® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
Comprehensive guide to national, international, and local online sources for current data
Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to discuss your company’s interest in obtaining expedited bidding benefits, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

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Tags corporate mobility, corporate relocation, Domestic Relocation, Domestic Relocation Tips, Expedited Bidding, Expedited Bidding Benefits, expeditied bidding, global relocation, Global Relocation Tips, Relocation Benchmarking, relocation policies, Relocation Policy Benchmarking, Relocation Policy Review, relocation programs

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2020-21 Corporate Relocation Budget: Start Planning Now

Post author By Sam Hoey | CRP, GMS
Post date September 1, 2020

Young woman collecting important documents — Shot of an attractive young businesswoman going through paperwork while sitting with her laptop

It is not too early to start thinking about your company’s 2020-21 corporate relocation budget. Many companies review budgets on a regular schedule. However, 2020 has been anything but ordinary. Every nation in the world has been dealing with the impact of the COVID-19 pandemic. From border restrictions to stay-at-home orders, the vast majority of companies have been facing multiple disruptions.

As a result, these disruptions are bound to have some type of impact on corporate budgets. Companies will find it difficult to determine the “new normal” in their business and industry.

Issues That May Lead to 2020-21 Corporate Relocation Budget Increases

Business Growth

Some companies have seen increasing demand for their products and services. For example, Amazon’s recent second-quarter report earnings call indicates tremendous growth for the company:

Earnings per Share: $10.30 (average analyst’s estimate: $1.46)
Revenue: $88.9 billion (average analyst’s estimate: $81.56 billion)
Sales: up 40% year over year in the quarter
Drivers: online retail, cloud services

Of special note is Amazon’s online grocery and delivery services, with significant progress in this area.

New Corporate Expansions

Other companies are planning significant expansions. Nikola Motor Company announced it will break ground on a manufacturing plant in Coolidge, Arizona. The plant should create thousands of jobs within Pinal County. Nikola expects to produce up to 35,000 hydrogen electric and electric semi-trucks.

Not to be outdone, Tesla recently announced it will build its next factory in Austin, Texas. Known as a Terafactory, the next Tesla Gigafactory will make the Tesla Cybertruck electric pickup truck and the Model Y. Additionally, Tesla’s headquarters location may also soon relocate to Austin.

Issues That May Lead to 2020-21 Corporate Relocation Budget Changes

Immigration Limitations

Beyond business growth and new corporate expansions, other issues may lead to budget changes. Immigration limits may reduce a company’s ability to hire foreign nationals to work in the United States. However, alternatives may still allow companies to hire qualified staff. These alternatives require specific conditions, with possible increases in costs in some areas such as travel and facilities.

Need for Highly Qualified Staff

Other issues could include staffing requirements. Some industries such as healthcare have seen a dramatic rise in the need for corporate housing solutions. This is due in part to a dramatic increase in a truly mobile workforce to deal with effects of the COVID-19 pandemic.

How Should a Company Approach Reviewing its 2020-21 Corporate Relocation Budget?

Every company looking to review its 2020-21 corporate relocation budget should consider the following 5 specific points:

1. Relocation Policy Review

It is imperative that companies undertake a review of their relocation policy. Best practice is to review this policy every 12 to 18 months. With changes impacting nearly every component of a company’s 2020-21 corporate relocation budget, a policy review will help define areas that should be examined for compliance, utilization, and cost savings.

Do you know if your company’s business continuity plan includes points related to its relocation program? A relocation policy review will highlight areas that should be considered, such as employees on temporary assignment who may need to be quickly reassigned to a different location.

2. Historical Data Review

A thorough review of expenses will provide a good indicator of areas in need of attention. That being said, it is now critically important to also factor in multiple forces that may impact the future budget, including:

Immigration issues
Travel restrictions
Costs to comply with COVID-19 sanitation guidelines
Virtual talent acquisition
Virtual office requirements
Tax compliance issues

A number of points specific to each company’s needs can be considered in light of new business operating guidelines.

3. Significant Cost Generators

Many costs in relocation budgets are due to significant cost generators. Often these costs are driven by specific activities such as moving an employee to a new destination, or reimbursing temporary housing costs during a short term assignment. A thorough review should include examining these activities in detail as they impact the relocation budget:

Home Sales
Home Purchases
Temporary Housing Costs
Tax Obligations
Household Goods Moves

Be sure to compare and account for cost differences between global relocations and domestic relocations.

4. Accounting Accruals

Companies often account for business expenses that occur in one period by setting aside amounts known as accruals. Future expenses are then allocated toward the accrual amount. Reviewing your 2020-21 corporate relocation budget, consider whether some expenses might be better accounted for through accruals.

A good practice is to review the prior year’s accruals to determine if similar amounts should be in the budget through accrual accounting methods. This will also help ensure a smoother expense tracking and recording process. It may also assist the company with cash management requirements.

5. 2020-21 Corporate Relocation Budget Strategic Initiatives

Consider the impact of any strategic initiatives that might result in additional employee relocations, new hires, or corporate expansions. Is the company planning to build a new manufacturing facility or open a sales office? Are there discussions of future partnerships with other firms? Are new talent management programs in development?

With the advent of COVID-19, today’s workforce is even more responsive to changing company requirements. Given the swift nature of how companies responded to the pandemic, be sure to plan for future contingencies, changes, and disruptions.

What Should Employers do for Their 2020-21 Corporate Relocation Budget?

Employers should work with a Relocation Management Company (RMC) that has knowledge and experience with relocation budgets and managing for contingencies. RMCs are ideal sources for industry best practices. RMCs also have valuable knowledge on global issues relating to immigration, travel, and how the relocation industry and service providers are changing to meet new requirements due to the COVID-19 pandemic.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to develop and prepare robust relocation programs that follow industry best practices. Our team can help your company understand how to account for each of these 5 specific points during the review of its 2020-21 corporate relocation budget.

Contact our experts online to request a relocation policy review as part of your 2020-21 corporate relocation budget review process, or give us a call at 800.617.1904 or 480.922.0700 today.

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Successful Language Training: What Does it Look Like, and What Can it Provide?

Post author By Sam Hoey | CRP, GMS
Post date April 16, 2020

relocation coach helping moving employee — Male CEO talking during a business presentation in a board room. Copy space.

Successful language training often helps employees determine if they can easily accept a global assignment. Many transferees may have a commanding grasp of several languages. Language proficiency and other professional skills often prepare them well for work in a new location. However, their family members may not be as proficient in multiple languages. The prospect of relocating to a destination where language may become a barrier can be daunting.

Employers should inquire as to whether transferees, their spouses, and their family members have proficiency in the language that is most in use at their new location. If they do not have proficiency, employers should provide assistance with language training.

What Does Successful Language Training Look Like?

Language training programs may include several helpful elements. All of these elements work together to provide transferees and their family members with valuable communication skills. These programs provide professional resources that are proven to assist transferees and their family members successfully settle in to their new location.

GMS spoke with Inigo Lopez, CEO of BiCortex Business Language Services to learn more about how participants can get the most out of their language training programs. Inigo agreed to share his expert guidance on this topic.

Successful Language Training Should be Efficient

Inigo notes that for greatest efficiency, students should study in a private class. Also, the number of student in group classes should always be kept to a minimum. The best solutions are tailored to the student’s specific needs including:

Preferred location (home, office or a neutral location)
Level of education
Business industry
Student’s professional and personal objectives

Language training that uses multiple methods to teach students typically has the highest rate of success. These methods may include conversation, use of visual aids, grammar exercises, and self-study. Also, students report higher levels of satisfaction with the training program. As a result, they are also more highly motivated.

Successful Language Training by Expert Language Trainers

Inigo believes the best language training providers work with trainers with the following profile:

Significant number of years within the field of education
Native and multilingual teachers
Qualifications from renowned colleges and universities
Highly motivated specialists with excellent customer feedback

Language Training and Complementary Services

Beyond language training, good solutions offer a range of complementary services. Inigo believes language training and other services can work together to help students reach the highest level of success. For example, tutoring can extend beyond language to include academic support in schools, preparatory classes for examinations, diplomas, and entrance exams, or writing papers.

Additionally, training should incorporate a wide variety of formats. Live online classes, online module learning, and custom solutions all work together to help students learn at their own pace.

What are Students of Successful Language Training Saying?

Inigo provided comments from several students who have utilized language training solutions successfully. Their comments show the amount of value that language training can provide:

M. recently relocated from Colombia to the United States

“My goal is to learn the English language because now we live in the United States…the language training classes helped me a lot…my level is very low as a beginner. My advice to others who want to learn a new language would be that first you really need to want to learn and receive classes both on grammar and tenses, classes can be online as it is similar to face to face in my experience.

The best thing for me is to simply learn, I love to learn more things every day. English for me is a priority and is a goal of mine in 2020. My favorite resources were the internet based tools and videos.”

R. recently relocated from India to the United Kingdom

“My main goal is to be fluent in it, and be confident. So far it is good, my teacher helps very much, and I like her classes. My advice to others is try to use English every day, read books, when looking for a word you do not know yet, always use more than one dictionary.

The best thing about learning a new language is that I am able to develop my confidence level, improving my social interaction and encouraging connection between peers. For me, the best way to learn has always been watching movies and shows. A good way to learn and practice English is to talk with our friends.”

What Should Employers do About Language Training?

The most successful company relocation programs provide a wealth of support programs and services for transferees and their family members since they are often key to ensuring a successful relocation. GMS provides our clients with an extensive range of language training programs as well as other valuable business services so employee relocations are successful. Our high-touch service model fully extends to helping transferees and their family members with everything they need during their relocation process.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop successful language training programs to help their relocating employees and their family members settle in to their new location. Our team can help your company determine the best language training solution for your relocation program. As a result, this will help promote successful relocations.

Contact our experts online to discuss successful language training solutions to help your transferees and their family members, or give us a call at 800.617.1904 or 480.922.0700 today.

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Centralization Advantages: What You Should Know

Post author By MIchael Hughes
Post date February 10, 2020

Companies benchmarking their relocation policies often learn about many centralization advantages that can be obtained by moving away from a decentralized business model for their relocation program. Often a company’s decentralized relocation program develops over time through business mergers and acquisitions. Challenges come to light when a transferee from one location moves to a new location that has different relocation policies.

What are the Challenges of Decentralization?

There are many challenges for companies that follow a decentralized business model for their relocation program. Reporting systems are often inconsistent. Therefore, it is difficult to obtain accurate information on the full scope of the relocation program. Costs are often excessive due to a high number of policy exceptions, use of multiple vendors for the same processes, and in-house costs related to maintaining multiple relocation programs. Since business units, HR teams, and other departments operate independently, lack of ownership hampers progress.

Impact on Employees

These challenges impact the satisfaction of new hires and transferees who are subject to decentralized relocation programs. There may be confusion for employees with currencies, visas and documentation, and reporting requirements. Ultimately, these challenges may reflect back on the company’s reputation among job seekers and other employees approached for relocation opportunities.

What are the Centralization Advantages for Relocation Programs?

Companies that develop a centralized business model for their relocation program gain in many ways. These centralization advantages cover all aspects of relocation, and include:

Consistency in operating platforms with robust integration options
Cost containment to reduce variation and increase forecasting and predictability
Customized billing processes that meet the company’s needs
Defined ownership across local, regional, and global entities
Global access to courtesy mobility consulting 24/7/365
Greater discounts across a streamlined network of vendors along with dual bid savings
Reporting capabilities across multiple platforms, anytime, anywhere

What Should Companies do to Obtain Centralization Advantages?

Companies should work with a qualified Relocation Management Company (RMC) that has extensive experience in helping companies obtain centralization advantages for relocation programs. GMS has published a Case Study on Decentralization that describes how a client was able to obtain centralization advantages that led to significant cost savings and greater employee satisfaction.

Companies should ask their RMC a wide range of critical questions to address all of their main concerns. The RMC will help them understand how to obtain centralization advantages for their relocation program. Also, the RMC will help them design their relocation program. As a result, this will help gain the most benefits for the company, new hires, and transferees.

Industry Benchmarking Studies Highlight Centralization Advantages

GMS has also recently published several Industry Benchmarking Studies that will help companies learn whether their relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking. For example, employers can learn how they can ensure their competitiveness in their industry to attract and retain talent with the highest level of skills and experience.

Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. This review will also help your company learn about how the relocation industry is evolving to meet increased employee demands.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients benchmark their relocation program and obtain significant savings and process improvements through centralization advantages. Our team can help your company understand how to obtain centralization advantages for its relocation program. As a result, your company will be positioned to make a number of improvements to its relocation program as it works to obtain centralization advantages.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation^® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn more about the centralization advantages your company can obtain for its relocation program. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

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Affinity Programs and Relocation: How Your Company Can Benefit

Post author By Jules Matz | AHWD, ABR, CNE, CRP, GRI
Post date December 17, 2019

Many companies can benefit by adding affinity programs to their relocation policy. Relocation offers ample opportunities for transferees and new hires to use services. As a result, a robust relocation policy with well-structured affinity programs may provide a revenue stream to help offset administrative costs. Also transferees and new hires may benefit from special programs and discounts offered through these programs.

What are Affinity Programs?

Affinity programs are a structured partnership between businesses that promotes use of a service or purchase of an item. The Association of Chamber of Commerce Executives notes that these programs must provide value and specific price advantages for members in order to be successful.

A typical affinity program may follow the following steps:

Employer enters into an agreement with a business partner
Employer then offers the services to their employees
Employees gain a benefit from using the services (such as discounts on products and services)
Profits attributed to the employee’s use of the service are shared between the employer and the business partner

Employees gain value when they receive exclusive discounts and services in return for their participation. They also gain expert, hands-on guidance of experienced support staff from the business partner. Staff members are ready to help guide affinity program recipients through the process of selecting, ordering, and tracking the various services they desire.

Employers gain from affinity programs in several areas:

Revenue stream from profit share
Increased employee satisfaction
Enhanced goodwill through offering valued services
Association with a trusted business partner
Seen as an employer of choice among job seekers

What are Typical Affinity Programs in Relocation?

Typical affinity programs in relocation might include profit sharing based on transferee and new hire use of services offered by a Relocation Management Company (RMC). Services that may be eligible might include household goods moves, home selling/buying, mortgages, housing, or travel. These programs can be structured in many ways to meet employer’s needs as well as provide clear and defined value for employees.

Example: Traditional Temporary Housing

For example, transferees may be offered the option of using traditional temporary housing while they search for a home in their new location. If the transferee chooses to use this option, the employer will gain in the form of a profit share.

Importantly, the employer will also gain from having the transferee use housing that meets specific requirements for maintenance, cleanliness, amenities, and security. Transferees are more likely to have a positive experience when they use traditional temporary housing, as opposed to other housing options. This in turn will increase employee satisfaction with their relocation experience.

Many other housing options might initially seem attractive and offer a lower cost, but they may not meet cleanliness standards, and may carry hidden costs and unexpected issues for the transferee.

What Should Employers do About Affinity Programs?

Employers interested in learning more about affinity programs in relocation should work with a Relocation Management Company that has knowledge and expertise with these programs. An experienced RMC can help employers design their relocation policy to provide value for employees while returning many benefits to employers.

GMS offers clients its exclusive MyRelocation^® Affinity Program. Through this program, eligible clients are able to gain many valuable benefits for their companies and their employees, where available.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients develop value-added benefits as part of their relocation policies. Our team can help your company determine how to define affinity programs that provide positive returns and valuable benefits for employees.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to learn more about how to define affinity programs in your company’s relocation policy, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags Affinity Programs, corporate relocation, Corporate Relocation Services, Domestic Relocation, Global Relocation Tips, relocation best practices, relocation programs

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Year-End Relocation Expense Reconciliation: How You Should Prepare

Post author By Sam Hoey | CRP, GMS
Post date November 19, 2019

Companies with relocation programs should prepare for their year-end relocation expense reconciliation. The relocation program may have several parts that flow into multiple departments and functions such as Accounting, Human Resources, Travel, and Tax. Therefore, thorough preparation is critical to capture all relevant information. Approaching this requirement with sufficient attention to detail will help ensure data accuracy and on-time reporting.

GMS recommends companies follow best practices for their annual reporting processes. There are five steps companies should take to ensure a positive result.

5 Steps to Prepare for a Year-End Relocation Expense Reconciliation

1. Create a Checklist for the Reconciliation

To start this process, begin writing a checklist. This checklist should include all of the information that accurate reporting requires. The checklist items should include several of the following data points:

Compensation data
Employees receiving tax filing services (those on the tax eligibility list)
Equity
Imputed income
Salaries/Wages
Taxes

Dates that are important for the year-end relocation expense reconciliation should be noted, such as:

Early cutoff dates
Due dates to receive data
Reporting deadline dates
Tax filing deadline dates

2. Schedule a Year-End Relocation Expense Reconciliation Preparation Meeting

Be sure to include representatives from all departments that must provide data for the reconciliation. Vacation time and holidays may impact work schedules, especially in the month of December. As a result, schedule this meeting to allow plenty of time for employees to learn what their role in the process is, what is needed from them, and to let them prepare the necessary data for reporting.

This meeting provides an opportunity to communicate expectations, as well as to develop relationships with colleagues who can assist with future year-end relocation expense reconciliation processes.

3. Confirm Data Accuracy

Companies should confirm all of the data that is reported for the reconciliation is accurate. Accurate accounting systems and processes should be in place to confirm data that is shared for the review. This step is absolutely vital to the entire process, as incorrect data could result in errors and additional costs. Data that should be confirmed includes:

Addresses
Benefits
Personal time (sick days)
Salaries/Wages
Social Security numbers
Tax ID numbers
Vacation time

Companies should ensure a thorough review of this data. An internal audit accountant might be helpful to confirm the accuracy of this data.

4. Finalize the Data to Prepare for Reporting

This step is to ensure the data includes all final reports through the end of the reporting period. Templates and sheets for the year-end relocation expense reconciliation may include blank lines or empty cells with highlights to note future data entry. For example, final year-end payroll figures may not be known until late December. All of this data should be stored on a server that is secure and continually backed up for easy retrieval if necessary.

5. Submit Reports

Confirm the reporting deadlines for every country that requires a report. Different groups of assignees or transferees may need to be further segregated for specific reporting requirements by tax reporting organizations. Whenever possible, send data early and confirm receipt. Note the final tax payment due dates for the year, and arrange for the payments.

What Does This Mean?

Companies should follow best practices to ensure accurate and on-time reporting for their year-end relocation expense reconciliation. By following best practices to confirm data and important dates, companies can avoid costly errors, expensive rework, and rush projects.

What Should Employers do About Their Year-End Relocation Expense Reconciliation?

Employers planning for their year-end relocation expense reconciliation should work with a qualified and experienced Relocation Management Company (RMC). RMCs will have knowledge that can assist companies in understanding all of the important parts of a reconciliation. They can also share recommendations and guidelines to ensure data verification and timely reporting processes. Companies should request an audit of their year-end relocation expense reconciliation to ensure they have a robust process.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients with reviews of their reconciliation processes. Our team can help your company understand how to design a year-end relocation expense reconciliation that follows industry best practices to ensure data accuracy and on-time reporting.

GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to request an audit of your year-end relocation expense reconciliation, or give us a call at 800.617.1904 or 480.922.0700 today.

For a month-by-month view, see year-end relocation tax deadlines HR teams need to know.

Tags relocation best practices, Relocation Cost Management, Relocation Costs, Relocation Expense Reporting, relocation expenses, relocation programs, Year-End Relocation Expense Reconciliation

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What are the Advantages of Centralization for a Relocation Program?

Post author By Sam Hoey | CRP, GMS
Post date April 25, 2019

Many companies do not have a full understanding of the benefits that centralization can provide their relocation program. Larger companies or those that grow with acquisitions are often beset with the many challenges their relocation program presents with its focus on decentralization. While decentralization may be useful for local marketing efforts, when it comes to relocation, there are few advantages.

What is Centralization in a Relocation Program?

In our case study on decentralization, our team of global relocation experts describes centralization for relocation programs. Basically, relocation program centralization means the following:

Global or Corporate Level

Develops and manages the relocation program
Ensures uniformity
Provides guidance for regional and local units

By comparison, decentralization in a relocation program can result in many challenges including high operating costs, inconsistent reporting, and varying policies. As a result, employees often receive different experiences depending on what division or location handles their relocation. Also, the company has virtually no visibility, cost predictability, or tracking methods to ensure policies are effective.

Advantages of Centralization in a Relocation Program

Centralization in a relocation program provides many advantages. Companies and their employee benefit from a program that offers:

Centralization

Courtesy mobility consulting worldwide
24/7 access to Relocation Management Company experts
Delivery models in alignment with corporate needs, locations, and structures
Standard policy and processes that also address country nuances
Anytime, anywhere reporting capability
Full containment of costs
Predictability with centralization that allows for accurate budgeting and forecasting
Global, regional, and local ownership
Single operating platform with multiple integration options
Fixed rates and multiple bid processes
Network ownership, streamlined vendors
Stronger discounts and dual bid savings
Custom billing in any currency and location

What Should Employers do?

Companies should engage a qualified Relocation Management Company (RMC) that has knowledge and experience in centralization for relocation programs. Companies should be sure to ask their RMC a wide range of critical questions to ensure all of their main concerns are fully addressed. The RMC will help them understand the advantages of centralization and how to design their relocation program to gain the most benefits for the company and its transferees.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients in overcoming the challenges they face with decentralization. As a result, our team can help your company understand how to gain the advantages of centralization for its relocation program.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s interest in centralization for your relocation program, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags Centralization, Domestic Relocation, Domestic Relocation Trends, global relocation, Global Relocation Tips, Relocation Benchmarking, relocation programs

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What are the Top 5 Benefits of Managed Cap Relocation Programs?

Post author By Sam Hoey | CRP, GMS
Post date April 16, 2019

Managed cap relocation programs provide several benefits for companies and transferees. These programs provide services and allowances up to a specific capped dollar amount. This amount is set by the employer and noted in the company’s relocation policy.

Companies seeking to develop a relocation program often inquire about traditional lump sum programs. However, once they learn about the top 5 benefits of managed cap programs, most companies prefer them over lump sum programs.

What is a Traditional Lump Sum Relocation Program?

A traditional lump sum relocation program is simple in its approach. Basically, an employer provides a relocating employee a specific amount of funds. The relocating employee works with a Relocation Management Company (RMC) to choose services within the parameters of their employer’s relocation policy. As a result, the employer has little involvement in the relocation beyond arranging the funds.

In a traditional lump sum relocation program, a relocating employee must:

Review and choose van lines to move their household goods
Pack their goods, or arrange for packing services
Arrange travel to their new destination
Find and arrange for new housing options
Set up destination services including utilities and internet

What are the Disadvantages of a Traditional Lump Sum Relocation Program?

There are some disadvantages of a traditional lump sum relocation program. First and foremost is the relocating employee’s lack of expertise in making all of the arrangements to facilitate their move. Many people remember times they have moved to a new location, experiencing various challenges along the way. If these experiences are not all favorable, the memory of that experience may alter their perception of their new location, employer, or assignment. Also, any issues that arise may result in delays for the relocating employee to start their new position. If the lump sum amount is paid as a bonus on an employee’s paycheck, the amount will be taxed as income. As a result, this greatly reduces the amount of the relocation benefit to the employee.

Top 5 Benefits of Managed Cap Relocation Programs

Managed cap relocation programs offer several direct benefits for companies and relocating employees. The top 5 benefits of managed cap relocation programs are:

Assists employers with talent acquisition
Enables a strong focus on cost containment and savings
Program administration requires minimal management resources
Quick and easy implementation
Requires limited quality assurance management

What Does This Mean?

Managed cap relocation programs include support services from the RMC. Relocating employees receive policy counseling from experts to help them allocate their relocation funds. The RMC answers employee questions and acts as a guide through their relocation process. Relocating employees in managed cap relocation programs experience fewer budget overages. Also, these employees consistently report higher satisfaction levels than those employees who use traditional lump sum relocation programs.

What Should Employers do Regarding Managed Cap Relocation Programs?

Companies currently looking to implement a lump sum relocation programs should consider implementing managed cap relocation programs. Companies will gain 5 distinct benefits by choosing this type of relocation program instead of a lump sum relocation program. Also, they will experience higher relocating employee satisfaction levels.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients determine the relocation program that is the best fit for their organization and employees. As a result, our team can help your company understand how to gain the 5 benefits of managed cap relocation programs.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s interest in managed cap relocation programs, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags lump sum, Lump Sum Programs, managed cap, Managed Cap Programs, relocation management, Relocation Models, relocation policies, Relocation Policy Benchmarking, relocation programs

Corporate Relocation Corporate relocation tips Relocation Best Practices Relocation Challenges Relocation Management Relocation Programs

What are the Top 5 Points a Company Planning to Relocate Should Consider?

Post author By Sam Hoey | CRP, GMS
Post date April 8, 2019

A company planning to relocate is usually doing so for several reasons. Some companies operate through extensive planning processes and may have short term objectives as well as long term objectives. When considering a corporate relocation, companies must examine several major factors that will impact their decision. Sometimes these major factors have been known to the company, especially if they experience challenges in talent acquisition and management.

Major Factors that Lead Corporate Relocation Efforts

1. Quality of life considerations for their employees.

This encompasses a wide variety of issues including housing and tax costs, commuting times, access to social and educational venues, and environmental concerns. Opportunities for spouses and partners are critically important for relocating employees to ensure success. Family matters and career support for spouses should be a part of any corporate relocation initiative.

2. Workforce issues such as being closer to employees with the necessary education and technical skills.

Companies seeking to hire talented employees often prefer to be near a locale that has a large talent pool of viable candidates for job openings and growth opportunities.

3. Upgrading facilities and equipment is an important factor for any company planning to relocate.

Some companies currently operating in outdated facilities may be at a competitive disadvantage. Their competitors may have newer facilities with access to new technology, high-speed communication, and other updated amenities. As such, the company can easily upgrade facilities and equipment during a relocation.

4. Access to new markets is a major factor for corporate relocation.

The ability to reach new clients and gain exposure in a new location can help a company reach corporate objectives quickly and successfully. In some cases, a corporate headquarters move is made to provide greater access to capital and financial decision makers. Many large companies have facilities in various locations to gain unique advantages specific to those areas.

5. Cost considerations may be a factor in some corporate relocations.

Many companies take the cost of a location into account. They want to assure continued success as they respond to rising costs and increasing competition

Once a company planning to relocate reaches a decision, there are many points to consider. As it plans for a corporate relocation, a company should consider each point to ensure it is fully aware of potential issues, plans are in place, and preparations are sufficient to ensure a smooth relocation experience.

Top 5 Points a Company Planning to Relocate Should Consider

1. A project team should be in place to plan the relocation.

There are many aspects to consider. Several elements in corporate relocation may take a considerable amount of time for review, discussion, and formulation of plans. Companies considering a corporate relocation should have a written plan. Also, they should review this plan for accuracy to ensure it meets stringent corporate, customer, legal, and operational requirements. Important consideration should be given to the relocation budget. Companies should be fully aware of all the costs their corporate relocation will incur.

2. Contingency planning should be an integral part of a company’s corporate relocation plan.

Outside factors such as weather may severely impact the ability to move people and equipment in a timely manner. For each contingency, companies should identify a proper protocol to ensure the relocation goes back on track as soon as possible.

3. Disruptions may occur.

Proper planning should include a review of backup systems for information networks, customer communications, and employee outreach. In all cases, everyone should have a way to contact the company to ensure business remains ongoing during the relocation.

4. Technology systems are usually the most critical component for a company to consider during a relocation.

Connectivity, security, adequacy of backups, and ability to restore systems should be reviewed to ensure full compliance with corporation needs, customer requirements, and business continuity plans.

5. Communication is a key point for any company planning to relocate.

A company planning to relocate must ensure employees, customers, vendors, and others receive information about the move. Often this is a good opportunity for positive Public Relations (PR) efforts that can highlight the corporate relocation’s benefits in many ways, while giving the company greater exposure to tout their growth and initiatives. Companies should consider the audiences that will receive their message. They should also determine how they will express the traditional PR messages of who, what, where, how, and when.

What Should a Company Planning to Relocate do?

A company planning to relocate should identify all of the factors leading to the corporate relocation decision. Also, the company should consider all of the Top 5 Points that may impact the relocation. Companies considering a corporate relocation should work with a qualified Relocation Management Company (RMC) that has knowledge and expertise in all of the planning and processes inherent to relocation. Corporate relocation experts provide valuable insight. As a result, they can help a company’s corporate relocation process run smoothly, quickly, and with the least amount of disruptions. Engaging a Relocation Management Company early in the process will ensure a company has a knowledgeable partner that can guide them through all phases of the corporate relocation.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop plans and processes to ensure a successful and efficient corporate relocation. As a result, our team can help your company planning to relocate understand how to proceed with a corporate relocation. This will keep your company operating at top capacity before, during, and after the relocation.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s corporate relocation, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags corporate relocation, Corporate Relocation Services, relocation, relocation best practices, relocation management, relocation programs, relocation services

Home Purchase Relocation Programs

7 Helpful Tips for Transferees to Prepare for a Relocation Property Assessment

Post author By Sam Hoey | CRP, GMS
Post date January 17, 2019

Many of Global Mobility Solutions’ clients have transferees who may be participating in a home sale program as part of their relocation package and will require a Relocation Property Assessment. This Assessment is designed to provide helpful information for the client regarding the home’s condition. While not labeled as a home inspection, the Assessment entails a full review of the home by a professional who is fully qualified to perform the Assessment.

GMS spoke with Mark A. Gronke, Vice President at Fidelity Residential Solutions who agreed to share his advice and guidance on this topic.

How Should a Transferee Prepare for a Relocation Property Assessment?

According to Mark A. Gronke, Fidelity Inspection & Consulting Services provides seven helpful tips and recommendations for transferees to follow. These recommendations will allow the Relocation Property Assessment process to proceed in a quick and efficient manner. Prior to the Assessment, transferees should ensure the following:

Ensure Everything is in Working Order

Check fixtures and lightbulbs to ensure all are in working order.

All utilities must be on for the Assessment, including any pilot lights for natural gas-fed appliances such as water heaters, stoves, and clothes dryers. Check appliances to ensure all are in working order.

Consider servicing all furnaces and air conditioners prior to the Assessment. This will ensure these systems are in working order and may provide a written statement regarding system function.

Compile Records of Repairs

Compile records and evidence for all repairs completed by qualified professionals and technicians. If desired, provide this information to the professional who is conducting the Assessment before it begins.

Provide Clear and Direct Access

Provide clear and direct access to the home’s water heater, air conditioner, furnace, and electrical panels. If you store boxes and other items nearby, move them away so the professional conducting the Relocation Property Assessment can easily reach these areas and appliances.

Ensure the professional conducting the Assessment has three-to-four feet of open space from all garage walls and all foundation walls. This will let them see electrical outlets and the condition of the walls and finishes. Be sure to clear boxes and furniture from storage areas, under any staircases, and crawl spaces. All of these areas should allow clear access during the Assessment.

Remove leaves and snow, and clear away shrubs and brush along the exterior foundation of the home. Any wood piles, trash cans, or bins kept along the side of a home should be moved away from the home’s perimeter.

What Should Employers Expect?

Employers should expect that transferees who may be part of a home sale program understand their responsibilities to ensure clear and direct access to their home for the professional conducting the Assessment. The client for the Relocation Property Assessment is the employer, and they will receive the Assessment from the professional. Employers should understand that the Relocation Property Assessment is not a Home Inspection Report.

What Should Employers do?

Employers should communicate guidance for their transferees on how to prepare for a Relocation Property Assessment. Employers should work with their Relocation Management Company to understand the Assessment and how it relates to the home sale program.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their Relocation Property Assessments. We can help your company understand how a Relocation Property Assessment relates to your company’s home sale program.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Tags Domestic Relocation, Home Purchase, Home Sales, North America Relocation, relocation programs, Relocation Property Assessment, Workforce Mobility