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Relocation Management

5 Questions to ask in a Relocation Services Proposal

Here are some key points to bring up when seeking relocation management services

In a competitive hiring market, companies see firsthand how hard it can be to not only obtain but retain top candidates in their industry. Human resources teams in numerous industries are offering great hiring incentive programs in hopes of landing the most qualified applicant to fill the vacant spot. One of the best incentives to offer is a relocation package.

When hiring for a position, a qualified local candidate might fill that hole just fine. But what if there are no local applicants who qualify? Only fielding applications from locally based people can pigeonhole the hiring process for each position. But if the hiring manager can negotiate with employees globally then it opens up the options for getting the right talent in the right seat. 

The best route to take when offering relocation services is to work with a qualified and highly reputable relocation management company (RMC). Many companies understand that working with an RMC will provide their employees and families with a seamless relocation process. 

Hence, they seek pricing and bids from multiple RMCs to assure they are getting the best price. However, determining how to choose a qualified RMC can be challenging for a company that does not have a complete understanding of the talent mobility process. Therefore, these questions will help identify those with the most experience and best relocation management services.

1. Overview of the Company/General Company Information

RMCs should provide information about their principals, organizational structure, and account managers. A history of the company will give insight into its growth and industry relationships. Third parties and business partners used as vendors should be fully noted. But the important note to walk away from here is to find out who and how many points of contact the relocating employee will have during the process. 

Relocating a family is not an easy process. The last thing a moving employee wants is to not know who to reach out to at all times. Verify with the RMCs that each transferee will have a go-to account manager or relocation expert they can contact directly at all times.

2. Relocation Services and Supplies

There is no one size fits all relocation package. Every company will have different needs depending on how many employees they relocate, the timelines they have to relocate them, and the number of talent transfers they perform each year. That’s why companies who are vetting RMCs should find out about the relocation services offered and if those services can be tailored to their needs. 

Consider this question as a detailed menu of what the RMC will provide. Look for information related to specific areas, including:

  • Policy Counseling
  • Expense Administration
  • Cost Projections
  • Household Goods Moving Services
  • Temporary Housing
  • Home Marketing Assistance
  • Guaranteed Buyout/Amended Value Sale Program – Home Sale Assistance
  • Buyer Value Option Program – Home Sale Assistance
  • Home Inventory Management
  • Home Finding/Purchase Assistance
  • Mortgage Assistance
  • Rental Assistance
  • Property Management
  • Spouse/Partner Assistance

3. Quality Assurance/Customer Service

Good information in this section includes customer retention rates, complaint resolution processes, methods of communication, and all reporting and tracking systems available to the company and its relocating employees. In addition, the RMC should note how they account for order delivery, planning, and revisions to shipments.

Website services and information technology solutions as they apply to customer service should be described in detail. Look for a company that provides a robust solution that can easily integrate into your company’s current systems. True innovators should speak to their experience and history within the relocation industry.

4. Transition Process and Projected Relocation Timeline

In this section, the RMC should describe the transition from the pre-decision services to the final destination, including the setup of technology and rollout of the talent mobility program. The staffing structure for account services, including one-on-one services, should be described. The company should outline their support staff process, regular hours of operation, response times, and hierarchy to escalate issues.

5. What Sets Them Apart From Competitors?

The RMC should call out their main advantages that companies and employees will achieve by selecting their firm to provide relocation services. Several distinct advantages should be described in detail, and the RMC’s value proposition on each point should be clearly defined. At least three references who can speak to their experiences working with the RMC should be supplied as well.

GMS Checks All These Boxes

At Global Mobility Solutions (GMS), not only do we provide unbeatable relocation management services but we are the innovators of the talent mobility industry. For example, in the early 1990s, 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. Therefore, this allows GMS to provide clients with an ideal platform with fully integrated information technology solutions for their relocation programs. 

At GMS, we take pride in providing award-wining relocation services to companies across numerous industries. We would love to have one of our expert team members walk you through your current relocation policies. From there, we can then decide the best route to take to help get your employees from point A to point B. With over 30 years of experience in the relocation and real estate industry, our team of relocation coaches strive to make the moving process as seamless as possible. 

 

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

Categories
Choosing a Relocation Company Relocation Management Relocation Policy Review Relocation Programs Relocation Technology

Performing a Security Assessment on Your Relocation Management Company

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There are a lot of moving parts when it comes to the relocation process. Many vendors and suppliers are involved in getting the transferee from point A to point B. With that being said, there is a great deal of information and personal info that has to be shared across all parties. But what are relocation management companies (RMC) doing to keep transferee’s info safe? 

Most companies understand the importance of performing a security assessment on their data and operational systems. In many industries, specific standards require a security assessment on a regular basis to maintain compliance. Often these standards require the company perform a security assessment on any supplier that may receive company data. Specific control areas in a security assessment may include:

  • Information Security Management
  • Physical Security
  • Network Security Management
  • Platform Security
  • Remote and Mobile Access
  • Change Control
  • Identity and Access Management
  • Application Security

A security assessment will often include a request to receive a copy of the company’s Business Continuity Plan (BCP). A company’s BCP should cover several elements related to security issues surrounding a company’s data and operational systems. In the event of an unplanned disruption or other emergency situation, the BCP will indicate how the company’s operations will recover and proceed.

Different Types of Regulations and Requirements

Sarbanes-Oxley Act

The Sarbanes-Oxley Act came into effect in 2002. Sarbanes-Oxley is a United States federal law. This law set new or expanded requirements for all U.S. public company boards, management, and public accounting firms. As a result, the law requires that a company’s top management must individually certify the accuracy of financial information. Much of a company’s financial information is heavily dependent on technology and associated data security controls that must be part of a compliance review as noted in Section 404 of the Act. The law provides for harsher penalties for fraudulent financial activity. Also, Sarbanes-Oxley requires a stronger oversight role for boards of directors, and greater independence of outside financial statement auditors.

International Organization for Standardization

The International Organization for Standardization (ISO) creates and publishes International Standards that provide guidance and clear specifications to ensure a company’s products, materials, processes, and services are appropriate for their purposes. ISO publications include standards for Quality Management, Environmental Sustainability and Protection, and Management Performance.

General Data Protection Regulation

The European Union’s General Data Protection Regulation governs the processing of an EU resident’s personal data by an individual, a company, or an organization of personal data. This pertains to entities that do business within the region, or that provide services to individuals in the region. The rule provides people with more control over their personal data. For example, websites that collect data on visitors must let visitors know this. These websites must give visitors the option to opt out of such collection. Many additional laws have been passed in response to this new regulation, to provide local guidance on compliance. For example, in the United Kingdom, the Data Protection Act 2018 is a national law that complements the European Union’s General Data Protection Regulation.

TRUSTe Privacy Certification Standards

TRUSTe Privacy Certification Standards assist companies in establishing and maintaining strong privacy management practices. Compliance with TRUSTe demonstrates a company’s commitment to privacy protection in their online properties, customer and employee data management practices, and/or applicable regulatory frameworks.

For these and many other national, international, and industry regulations or requirements, a security assessment is necessary to ensure compliance. Companies that work with a Relocation Management Company (RMC) need to perform a security assessment of the RMC’s data and operational systems. Global Mobility Solutions’ team of global relocation experts believe the following 5 tips are essential to ensure an RMC’s compliance to a company’s security assessment.

5 Helpful Tips for Performing a Security Assessment on your RMC

1. Be Sure to Review the RMC’s Risk Rating and Access to Data During the Security Assessment

Your RMC should have a risk rating. The rating depends upon the likelihood of an event occurring. It also depends on the impact severity that might arise if the event does occur. You should determine whether the RMC has limited or full access to data. Important data fields to review for risk during a security assessment include:

  • Employee Name and Home Address
  • Employee Phone Numbers and Email Address
  • Family Member Contact Information
  • Social Security Numbers
  • Bank Name and Account Numbers
  • Logistic Information Related to Relocations
  • Travel Information Including Dates and Locations

2. Questionnaire Submission to RMC

Your company should have a document with several questions that will indicate the RMC’s compliance to important points in a security assessment. Provide sufficient time for the RMC to complete the questionnaire. The RMC will need to work with their Information Technology department to provide answers to many of these questions. Provide a contact from your company that can answer any questions the RMC may have related to the document’s specific points.

3. Share Results of the Initial Security Assessment

Once the initial security assessment is complete, share the results with your RMC. Offer to work with the RMC to remediate any areas that require attention to ensure compliance. Partnering with the RMC helps ensure the solution fully addresses your company’s requirements. Note the specific regulatory requirements that your company must meet to help the RMC understand how they might reach compliance.

4. Share Results of the Final Security Assessment

Be sure to indicate all control gaps. Note all categories that require submission of a formal remediation plan. Include specific dates and timelines critical for maintaining your company’s compliance to specific regulations. Provide guidance to the RMC on how to create and submit a remediation plan that will meet your company’s requirements.

5. Set Periodic Reviews for the Security Assessment

Working with the RMC, set a timeline for periodic reviews. Depending on your company’s specific regulatory compliance requirements, a security assessment may need to occur by date or by change in activity level. For example, if your company requests the RMC perform an additional service that requires sharing additional employee data, a review should be set to confirm the most recent security assessment is still valid.

GMS is the Industry Leader for Relocation Technology and Security

Global Mobility Solutions’ (GMS) team of global relocation experts has helped thousands of our clients understand how to conduct an effective security assessment on an RMC. We can help your company create and implement a security assessment to ensure compliance to all of your organization’s regulatory requirements.

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.

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

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.

We're Here to Help! Request a Courtesy Consultation

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

Categories
Relocation Best Practices Relocation Management Relocation Policy Review Relocation Programs Relocation Technology

Centralization Advantages: What You Should Know

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

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

Categories
Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Household Goods Relocation Best Practices Relocation Policy Review Relocation Programs

Lump Sum Relocation Packages: What are the Advantages? What are the Disadvantages?

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Global Mobility Solutions recently surveyed its clients to determine the impact of lump sum relocation packages on their organizations. Industry trends arising this year are having a direct impact on transferees. Often these trends become visible through the use of business intelligence and data analytics. 

What are Lump Sum Relocation Packages?

Lump sum relocation packages are a specific amount of money that employers offer to transferees or new hires. This money replaces a number of relocation benefits such as household goods moves, culture and language training, or home-finding assistance. Essentially, employers expect employees receiving a lump sum payment to manage their own relocation process.

Advantages of Lump Sum Relocation Packages

Simplification

The advantages of lump sum relocation packages are related to helping employers simplify the process. The main advantage is that employers and their mobility managers have less complications around relocation support. Providing support during an employee’s relocation is reduced to answering questions about when the lump sum funds will be available.

Budgeting and Forecasting

Another simplification for employers revolves around budgeting and forecasting. Instead of working to understand the true costs of hiring new employees or transferring employees from one location to another, the budget process is tied to a number that is applied across the board based on tiers in the relocation program. An executive homeowner with a family relocating from Duluth, MN, to New York, NY is given the same lump sum payment as another single executive renter who is relocating from Las Vegas, NV, to Fort Wayne, IN. The renter will pocket a significant amount of money. However, the homeowner will not have enough funds to cover the costs of moving their family.

Disadvantages of Lump Sum Relocation Packages

Inadequate Coverage

Lump sum relocation packages make things easier for employers when it comes to administration and budgeting. However, there are several disadvantages employers are beginning to see in their organizations. First among these disadvantages are that many lump sum payments do not adequately cover all of an employee’s relocation costs. GMS’ 2019 Lump Sum Survey shows that employees are spending more, and sometimes significantly more, on their relocation than their lump sum payment. This includes:

  • 61 % of homeowners reporting spending more
  • 50% of renters reporting spending more

Employee Dissatisfaction

Ultimately, more than half of relocating employees do not receive enough lump sum cash to cover their expenses. Naturally, this results in a higher level of dissatisfaction with the organization’s lump sum relocation packages. Overall, dissatisfaction with lump sum payments follows these patterns:

  • 58% of homeowners reporting dissatisfaction
  • 53% of renters reporting dissatisfaction

Loss of Control

A significant disadvantage is the employer’s loss of control over how budget dollars are spent. Lump sum relocation packages disbursed directly to employees may result in company funds being spent on non-relocation expenses including cars, televisions, vacations, or any number of items. Funds spent on non-relocation expenses do not support the successful relocation of the employee. As a result, the relocation may be at higher risk of failure.

Inefficiencies

Many GMS clients achieve significant spending reductions with relocation programs that follow industry best practices. A major GMS client recently conducted an in-depth study of their relocation program expenses. This client learned that if their organization moved to a lump sum program, they might increase their relocation program expenses by 40%. In other words, by following industry best practices, this client keeps relocation budget dollars that otherwise would have been spent on inefficient lump sum relocation packages. Any GMS client can achieve the same reduction in relocation costs through:

  1. Benchmarking their relocation policy to industry best practices
  2. Efficient relocation program operation
  3. Providing support to transferees that they actually need
  4. Using business intelligence and data analytics to understand the true costs of their relocation program
  5. Utilizing a competitive vendor network of relocation service providers

What Does This Mean?

Companies that offer lump sum relocation packages could potentially save a significant amount of budget dollars by following industry best practices. Lump sum payments let employers simplify their internal processes related to support, budgeting, and forecasting. However, this simplification may be costing employers up to 40% or more of their relocation budget dollars. It also results in over half of transferees reporting dissatisfaction with their relocation packages.

What Should Employers do About Lump Sum Relocation Packages?

Employers with transferees or new hires that are recent college graduates, individual contributors, or new to their professional career may be the best candidates for lump sum relocation packages. These employees are often renters and may not have a significant amount of household goods to move to a new location. Also, they tend to not require a significant investment in talent acquisition, as they compete for lower tier positions.

For employers who have new hires and transferees at higher tiers, industry best practice is to provide a range of benefits. Employees at higher tiers often require a significant investment in talent acquisition. Benefits that help ensure successful relocations also result in higher employee satisfaction.

Industry Benchmarking Studies Help Employers Compare Their Relocation Program

GMS has recently published several Industry Benchmarking Studies to help employers learn whether their company’s 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 lump sum relocation packages in their relocation program compare to those offered by competitors in their specific industry.

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, including recently evolving trends for lump sum relocation packages.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to create relocation policies that attract and retain talent. Our team can help your company provide the best experience for transferees and new hires who have lump sum relocation packages.

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.

Contact our experts online to discuss how your company can leverage lump sum relocation packages for new hires and transferees, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

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

Categories
Relocation Management Relocation Policy Review Relocation Programs

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

Happy couple sitting by the boxes in their new apartment and talking to each other on a coffee break.

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:

  1. Review and choose van lines to move their household goods
  2. Pack their goods, or arrange for packing services
  3. Arrange travel to their new destination
  4. Find and arrange for new housing options
  5. 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:

  1. Assists employers with talent acquisition
  2. Enables a strong focus on cost containment and savings
  3. Program administration requires minimal management resources
  4. Quick and easy implementation
  5. 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.

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 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.

Request your complimentary relocation policy review

Categories
Choosing a Relocation Company Corporate Relocation Corporate relocation tips Relocation Best Practices Relocation Management Relocation Policy Review Talent Mobility

The Future of Corporate Headquarters

Many companies face challenges when considering where to locate their corporate headquarters. Major global companies such as Amazon, Apple, General Electric, and Google have recently announced expansion or relocation efforts that will take them to their next-generation workforce.

Recent expansion and relocation efforts for corporate headquarters have focused on major metropolitan areas.

Corporate Headquarters of Major Companies

Amazon

Amazon plans to create a second corporate headquarters location in Arlington County, Virginia’s Crystal City neighborhood. The location is across from Washington, D.C. The company said it will receive $573 million combined from Virginia and Arlington in performance-based direct incentives. These incentives include Amazon creating several thousand jobs at the new location. Notably, although Amazon had originally also chosen a second location in Long Island City, Queens, New York for another headquarters, mounting opposition led the company to pull out of its plans. This speaks to the importance of building local support among all stakeholders for any new corporate headquarters development.

Apple

Apple is planning to expand its presence in Austin, Texas with a $1 Billion new corporate headquarters campus. Apple’s future plans will eventually make it the largest employer in Austin. The new campus will accommodate 5,000 employees to start, and feature capacity for up to 15,000 employees.

General Electric

General Electric relocated its corporate headquarters to Boston, Massachusetts in 2016 and instantly became the state’s largest public company. Company officials noted that the Boston metropolitan area’s concentration of top universities and startup technology firms was the main attraction for their relocation. The move is seen as a way for the industrial conglomerate to rebrand itself as a forward-looking technology company. Although GE continues to face challenging markets and a changing economic future, the fundamental reason for the company’s move is shown in their intent to remain in Boston.

Google

Google plans to spend $1 Billion to expand the company’s New York City Hudson Square facility. The campus will be the main corporate location for its New York-based global business organization. The company will double its New York City workforce.

Corporate Headquarters Require Workforce with Significant Skills and Education

Companies looking to expand or relocate their corporate headquarters require employees with skills and education. Typical functions at these locations may focus on executive and managerial roles, product engineering and development, talent acquisition and talent management, sales and marketing, corporate communications, legal concerns, and finance. Many of the positions within these functions require degrees from institutions of higher education. Employees must be proficient with technology across multiple platforms. They must also display a broad range of soft skills including verbal and written communication, coaching, and leadership. Any company looking at a new location should work to keep current employees with desired skills and education during the relocation.

What Should Employers Seeking to Expand or Relocate Their Corporate Headquarters do?

Companies that are looking to expand or relocate their corporate headquarters should work with a Relocation Management Company (RMC) that has expert knowledge and extensive experience in corporate relocation services. Corporate relocation programs provide companies and employees all of the resources and tools they need to ensure a smooth and successful relocation process.

Choose an RMC that provides ongoing employee support services, supplier management, relocation benefits, and expense management. Employers should provide many resources for their relocating employees and their families. As a result, they will feel confident in accepting their new assignments and enthusiastic about the company’s corporate headquarters relocation.

Conclusion

GMS’ team of corporate relocation experts has the knowledge and expertise to help your company manage its corporate headquarters relocation budget. We will also offer your employees the best relocation experience during a corporate headquarters expansion or relocation. This will increase your company’s ability to retain current employees as well as attract new hires at your new location.

Contact our team of experts to discuss how we can help your company’s corporate headquarters relocation budget stay within company guidelines, or call us directly at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Domestic Relocation Tips Domestic Relocation Trends Global Relocation Global Relocation Tips Household Goods Relocation Best Practices Relocation Management Relocation Programs

What are the Critical Questions to ask a Relocation Management Company?

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Many companies approach their relocation program without a full understanding of what questions they should ask of a Relocation Management Company (RMC). Knowing which critical questions to ask is highly important for a company to get a full understanding of how the RMC will manage their relocation program. Missing critical questions can lead to a large gap in expectations and performance. It is in each party’s best interests to be sure the most important questions are asked, and answers returned for review and decision-making.

Global Mobility Solutions’ team of global relocation experts have identified 28 critical questions that they believe companies should ask an RMC. Answers to these questions will provide the company with the most critical knowledge they need in order to make confident and fully informed choices for their relocation program’s design and functionality.

The following five critical questions are representative samples of the types of questions that you should ask an RMC.

Five Representative Critical Questions:

1. What is your service delivery model?

Fully understanding the RMC’s service delivery model is of paramount importance to understanding how the RMC will manage your company’s relocation program. Purchasing relocation management is a much different process than sourcing parts or equipment. Ensuring the right fit for the right reasons is the most important factor when sourcing employee-facing services.

2. Describe your supplier network. Do you own or are obligated to provide business to your suppliers?

It is important to understand if the RMC owns their suppliers, or are in some way obligated to provide business to their suppliers. If this is the case, transferees may not have the ability to choose the provider they want for their relocation process. In some cases, fully qualified suppliers who would provide lower costs might not be able to provide services.

3. How do you ensure competitive pricing from your supplier base?

This is one of the critical questions that will provide great insight into how the RMC operates. In some cases, RMCs will provide for competitive pricing by opening up bidding to multiple suppliers. In other cases, an RMC will try to explain that they can provide competitive pricing by leveraging their own network and spreading costs over a large number of transferee relocations. Be sure you understand what these different responses actually mean. Either the RMC ensures competitive pricing by promoting competitive bidding, or they do not promote competitive bidding.

4. What metrics and service level agreements do you track and report on?

Service level agreements (SLAs) should be a standard part of an RMC’s quality program. Service quality promises might include on time delivery guarantee of household goods, or specific performance guarantees based on transferee ratings. SLAs might cover real estate services, household goods moving, destination services, and financial and reporting services.

5. How do you utilize technology in your approach to relocation management?

RMCs should have technology to complement their service models. Companies, their transferees, and their candidates should expect a seamless relocation experience. Look for RMCs that can provide a superior, proprietary, cross-platform, online relocation management suite. Systems should provide clients and their transferees an array of decision-making, tracking, and expense management tools, with anywhere, anytime access 365 days a year and 24 hours a day.

What should companies do with the answers they receive?

Companies should compare the answers they receive from each RMC to ensure they provide the desired result. Information should be complete, and the answers should be direct and clear without any cause for confusion. Good responses will help the company determine how the RMC will manage their relocation program. Companies should be sure to ask all 28 Critical Questions in order to get the best overall responses.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their relocation programs. We can help your company understand which critical questions to ask of an RMC. These questions will help ensure you address the most critical relocation program points. Learn how to choose the best Relocation Management Company 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.

Download the 28 Critical Questions to ask an RMC when submitting an RFP

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Lump Sum Self-Service with Payment Options for Relocating Employees

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What does a traditional Lump Sum relocation program entail as opposed to Lump Sum Self-Service? In traditional Lump Sum relocation programs, employees receive a specific amount of funds for relocation. They also work with a Relocation Management Company to select services within the parameters of their employer’s relocation policy. Global Mobility Solutions (GMS) can also arrange for relocating employees to receive a GMS MoveMoney™ debit card. With this card, funds are electronically transferred to the employee after their expense report is audited.

Lump Sum Self-Service

GMS is developing a new online Lump Sum Self-Service with Payment Options to provide relocating employees direct access to our network of suppliers through our proprietary MyRelocation™ website portal. Using the lump sum provided by their employer, the relocating employee will be able to choose any of the services and options within our network of providers. They will also be able to arrange payments directly to the providers. Furthermore, the employer does not have to track relocation expenses or be involved in the process. As a result, the relocating employee will have complete freedom of choice for their relocation process. They can utilize helpful packing and moving guides and other information as they manage their relocation.

Benefits of Lump Sum Self-Service

There will be several benefits to the Lump Sum Self-Service for relocating employees:

  • Immediate access to suppliers of proven quality and experience
  • Payment options with suppliers that are easy to set up
  • Information about services that they otherwise might not have found doing their own research
  • Anytime, anywhere access to the employee’s relocation information
  • Cost savings for the relocating employee with multiple suppliers bidding to provide services
  • Reduced administration costs and efforts for employers

Conclusion

Relocating employees provided with Lump Sum funds will soon be able to have access to a network of qualified suppliers through Lump Sum Self-Service. Asking providers to bid for services and choosing the lower cost options will help relocating employees save money for other relocation services. Employers choosing to provide Lump Sum funds to relocating employees should encourage the use of Lump Sum Self-Service with Payment Options.

The global relocation experts at GMS have the knowledge and expertise to help your company understand how to communicate the benefits of Lump Sum Self-Service with Payment Options to your relocating employees. Contact our team of experts to discuss your relocation policy needs, or call us at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Top 5 Healthcare Industry Recruiting and Relocation Trends

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The Healthcare Industry has been growing at an increasing pace over the past several years. Factors such as the implementation of the Affordable Care Act, an aging population, and technological advances all contribute to the ever-expanding demand for qualified healthcare employees. The US Bureau of Labor Statistics predicts that Healthcare will be the largest employment sector in the US economy by 2024.

Growth in the healthcare industry presents a number of difficulties for HR professionals. Filling positions quickly and effectively, creating a workplace that encourages employee engagement, ensuring smooth succession processes, and reducing employee turnover are some of these seemingly insurmountable challenges.

Increasing Retirement Rates

In addition to greater demand for services, the industry is facing rapidly increasing retirement rates for experienced employees. Especially in the nursing field, the impact of retirement will have a large impact on staffing levels. At least 55% of the RN workforce is over the age of 50 and quickly approaching retirement age. According to an American Association of the Colleges of Nursing (AACN) summary of reports, there will be a growing shortage of registered nurses across the country between 2009 and 2030. By 2025 the US is expected to experience a nursing shortage “twice as large as any nursing shortage experienced in this country since the mid-1960s” with the rapidly aging nursing workforce as the primary contributor.

The combination of increasing demand for employees and increasing rates of retirement creates an ever-widening talent gap in the healthcare industry. There are not enough employees to occupy new positions, nor are there enough employees to backfill positions that open due to retirement. As a result, at least 33% of hospitals have job vacancy rates greater than 10%. Clearly, traditional healthcare recruiting strategies are not able to fill positions at a fast enough pace to keep up with demand.

As a result of these changes, the following five trends in healthcare industry recruiting and relocation are emerging:

Top 5 Healthcare Industry Recruiting and Relocation Trends

1. Provide Exceptional Candidate Experiences

Healthcare industry recruiters must focus on keeping candidates happy and engaged in the recruitment process. Providing each candidate an exceptional experience is necessary to keep your organization as the candidate’s first choice in their employment search. The organization should conduct a review of the entire candidate experience, including the application process, interviews, job offers, relocation benefits, and onboarding procedures.

HR professionals should put themselves through each of these processes to see how their organization treats and responds to candidates. Successful recruiting programs treat candidates respectfully and make them feel highly valued. Candidates are more likely to choose to work for an employer that treats them well.

2. Use Data to Enhance Healthcare Industry Recruiting

Healthcare organizations must analyze the effectiveness of their recruiting activities. Knowing which efforts are working well, and which efforts are not, will help the organization identify what it needs to improve. For example, an organization may have a job advertising program in place within a journal or news network. If these programs are not providing qualified candidates that proceed to job offers and acceptances, the organization should consider redirecting those resources.

Conversely, if a partnership with a local university proves to be a good source of qualified candidates that proceed to employment, consider enhancing the program or creating additional partnerships. Think beyond current geographical boundaries; partnerships can easily generate candidate interest within international locales. Relocation Management Companies (RMCs) are ideal sources for information on global candidate recruitment and relocation.

3. Recruit for Cultural Fit

Healthcare organizations searching for qualified employees may be able to easily identify those with the requisite skills, education, and experience. However, healthcare is a unique industry in that it is so highly focused on personal interactions. Healthcare organizations looking to fill job vacancies at a pediatric practice would want candidates who enjoy working with children.

Pre-Decision Services are critical for healthcare organizations as they provide valuable information about a candidate’s ability to accept a position and be successful. Behavioral assessments can be a strong predictor for cultural fit. Healthcare organizations can easily identify candidates with the qualities that match their organizational culture. Assessment data can be paired with structured interview questions to better understand the candidate’s interests, goals, and motivations.

4. Create a Superior Healthcare Industry Employer Brand

Highly-skilled healthcare workers are in great demand. As a result, these workers can easily choose where they want to work and for which organization they prefer. Seventy-five percent of employees seeking new jobs consider an employer’s brand before applying for open positions. Consider how your healthcare organization’s brand appears to job seekers. Does it generate positive industry news? Are online reviews favorable from current employees as well as current customers? If the employer brand you find does not fill you with positive feelings, then you can be sure candidates are also experiencing this same feeling.

To create a successful employer brand and generate positive feeling among job seekers, healthcare organizations should find out from current employees whether the organization is one where people want to work. Also, research comments from employees and candidates on review websites and social media. Determine which issues are of concern and address them. This will help you ensure employees will perceive your organization as the brand you prefer it to be. Follow through by updating recruiting materials, websites, social media, job postings, emails, and other venues to be sure you amplify the correct employer brand and messages. Consider creating a branded career website with enhanced relocation program messages to welcome candidates to your organization.

5. Speed the Process to Keep Candidates Engaged

Qualified candidates are always seeking new opportunities, and your organization is always looking to hire. The quicker you help candidates move through the process, the more they will remain engaged and likely to consider your organization for employment.

According to the 2018 Recruiting Benchmark Report from Jobvite, the time to fill job vacancies in the healthcare industry is 38 days. At the same time, the industry has 21 applications per job, which is one of the lowest among industries. If several days or even weeks can be taken out of the process, the organization will benefit tremendously and experience lower job vacancy rates.

Conclusion

GMS’ team of corporate relocation experts have helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your healthcare company by designing a relocation program that represents industry best practices. This will increase your company’s ability to attract and retain new employees.

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.

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

Request your complimentary relocation policy review

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Relocation Models for 5 Major Industries

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Traditional vs. Lump Sum Relocation Programs

Which is best model for your company?

There is more than one way to get your relocating employees to their new assignments. Many companies opt for either a traditional relocation program, a lump sum/managed cap program, or a combination of the two, depending on the position of the transferee and other special circumstances.

What are the Differences?

With a lump sum or managed cap model, relocating employees are given a pre-determined amount of money to cover all aspects of their move. From the shipping of goods to temporary housing, the transferees are responsible for researching and obtaining all the services needed to get them to their new destinations. There is no tracking or reporting available to HR or finance departments to let them know whether their relocation policies are too generous, costing the company more money than necessary to relocate their employees, or too limited, forcing transferees to pay out of pocket unnecessarily. This approach leaves the entire move is managed by the transferees, many who might not have any prior moving experience.

Conversely, a traditional relocation model is managed by a relocation management company (RMC). The RMC coordinates everything for the transferees. This includes, but is not limited to, home selling, household goods movement, temporary living, and home purchasing. The RMC sets up the various services with reputable, vetted network partners. Since the RMCs use direct billing back to the client companies, the transferees rarely have to open their wallets. HR and finance departments receive detailed expense reports from the RMCs that capture all the costs related to relocating their transferees.

Based on comprehensive relocation surveys, here are findings of how companies in five different industries utilize either traditional, managed cap/lump sum, or a combination of these relocation programs:

Relocation Models by Industry: Energy, Healthcare/Medical, Manufacturing, Retail, Technology

The figures above illustrate that across all the industries in this survey, traditional relocation programs are used more frequently than lump sum or managed cap programs. However, in all the industries, there is a large percentage of companies that utilize a combined approach. A best practice consideration is to adopt a combination of traditional and managed cap relocation models.

Modern Mobility Made Easy™
Helping you manage your relocating employees

Global Mobility Solutions, an innovative leader in corporate relocations since 1987, can analyze and create mobility management programs customized for your unique needs. Additionally, we have compiled benchmarking studies and relocation best practices for numerous industries. To learn more about what type of relocation model would fit best with your company, get the full relocation benchmarking study for your specific industry:

Download your industry benchmarking study

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About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

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