Tag: relocation programs

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Choosing a Relocation Company Corporate relocation tips Domestic Relocation Tips Global Relocation Tips Household Goods Relocation Policy Review Relocation Programs

Affinity Programs and Relocation: How Your Company Can Benefit

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:

  1. Employer enters into an agreement with a business partner
  2. Employer then offers the services to their employees
  3. Employees gain a benefit from using the services (such as discounts on products and services)
  4. 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.

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 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.

Request your complimentary relocation policy review

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Relocation Best Practices Relocation Challenges Relocation Policy Review Relocation Programs

Year-End Relocation Expense Reconciliation: How You Should Prepare

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.

Request your complimentary relocation program audit

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Domestic Relocation Domestic Relocation Tips Global Relocation Global Relocation Tips Relocation Best Practices Relocation Management Relocation Programs

What are the Advantages of Centralization for a Relocation Program?

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

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.

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 centralization for your relocation program, 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 Management Relocation Policy Review Relocation Programs

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

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

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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?

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.

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 company’s corporate relocation, or give us a call at 800.617.1904 or 480.922.0700 today.

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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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Home Purchase Relocation Programs

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

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 

  1. Check fixtures and lightbulbs to ensure all are in working order.
  1. 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.
  1. 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

  1. 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

  1. 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.
  1. 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.
  1. 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.

Request your complimentary relocation policy review

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Relocation Policy Review Relocation Programs Relocation Technology

Top 5 Reasons Why You Should Benchmark Your Relocation Policy

Young businesswoman giving presentation on future plans to her colleagues at office

Industry best practice shows employers should benchmark their relocation policy every 12 to 18 months to ensure your company remains competitive with your industry peers. A thorough benchmark will also help you learn about how the relocation industry is changing to reflect higher employee expectations for relocations.

As an employer, are you confident that every internal stakeholder in your company understands the importance of your relocation policy? Do you think they understand how it relates to their functional discipline? Most employers understand their relocation policy impacts several departments. As the competitive landscape changes in their industry as well as in the relocation industry, the importance of why employers should benchmark their relocation policy becomes increasingly clear.

Top 5 Reasons You Should Benchmark Your Relocation Policy:

1. You Should Benchmark to Identify Enhancements and Cost Savings

Reviewing industry best practices can show areas where your company can save costs or enhance your relocation policy to reduce costly exceptions. Learning about new and changing regulations can help your company avoid costs that may arise from immigration, legal, or tax issues. A thorough benchmark will identify technological enhancements that may be useful for communications, processes, or cost savings.

2. Align Corporate Mobility Objectives on a Global Basis

Many companies have operations spread around the world. This may lead to significant differences in relocation policies and implementations. Employers should benchmark their relocation policy to identify such differences. They should also work to align all areas to a consistent policy that fully supports corporate objectives regardless of location.

3. Understand Your Industry’s Competitive Relocation Landscape

Most of your industry peers also have relocation policies they use to attract and retain new hires and transferees. Employers should benchmark their relocation policy to identify how their industry competitors are designing their relocation policies. With this information, employers can then design a relocation policy that ensures they remain competitive and will be able to attract highly skilled talent.

4. Learn About Relocation Innovations

Technology is useful for informing and engaging employees throughout their relocation process. It also increases the speed of communications and provides valuable information and assistance. Technology can help transferees receive reimbursements in a timely manner. Employers should benchmark their relocation policy to help them learn about new ideas and innovative solutions to employee relocation issues.

5. Increase Internal Stakeholder Knowledge on Why You Should Benchmark

At most companies, several departments interact with the relocation process. Internal stakeholders from finance, procurement, and legal can learn how transferees interact with each department, what their needs are, and what the best practices are related to their discipline. Employers should benchmark their relocation policy and include internal stakeholders in the process. This will ensure their understanding of relocation policy guidelines. Also, it will help provide transferees with a smooth and easy relocation process as they interact with diverse internal stakeholders.

What Should Employers Do?

Employers should benchmark their relocation policy with a knowledgeable Relocation Management Company (RMC). The policy benchmark should include a full assessment of the company’s current policy as well as corporate objectives. This allows the RMC to benchmark the relocation policy to industry best practices. As a result, the RMC will be able to present a full complement of recommendations to ensure the employer can implement relocation policy best practices. This will also help them maintain a competitive edge in their industry.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand why they should benchmark their relocation policy. We can help your company understand how to create a relocation policy that reflects industry best practices. As a result, this will ensure the policy attracts highly skilled new hires and transferees.

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.

What's happening in your industry? Request a Courtesy Benchmark report

At GMS, we make it a priority to know how talent mobility is changing in each major industry. What are the best practices? How are other companies changing their programs to retain a competitive edge? Your Mobility Pro will be in touch within 1 business day to help answer your questions and benchmark your industry.

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Choosing a Relocation Company Relocation Best Practices Relocation Management Relocation Policy Review Relocation Programs

Does Your Relocation Management Company Have a Business Continuity Plan?

Does Your Relocation Management Company Have a Business Continuity Plan?

Your company may have a Business Continuity Plan (BCP) in place. This will ensure your organization can continue operating during an unplanned event. Many companies go to great lengths to ensure essential business functions continue regardless of what kind of disruption may occur.

Do you know if your Relocation Management Company (RMC) has a similar document to ensure they can provide essential services? RMCs should have a BCP so they can assure their clients that relocation services will continue during any possible situation that could cause disruptions.

What Situations Might Cause a Disruption for Your RMC?

It is impossible to list every possible disruption that your RMC may encounter. However, a few specific situations illustrate the importance of ensuring your RMC can continue operations according to their Business Continuity Plan.

Weather

Relocations often are subject to adverse weather conditions. Household goods shipments as well as travel plans may face delays due to severe storms such as hurricanes, blizzards, and ice storms. Severe weather can cause destruction of transportation networks and storage facilities. In 2017, the United States endured 16 destructive weather and climate events that each caused over a billion dollars of damage, including floods, hurricanes, and tornadoes.

Human Error

Any business is subject to human error. However well-intentioned, simple mistakes could cause significant issues for transferees, new hires, and your company. Your RMC should have sufficiently secure processes and systems in their Business Continuity Plan to prevent human error from causing huge and costly issues for your business.

Cyber-Attack

A cyber-attack is when one or more computers launch an attack against another computer, several computers, or an entire computer network. The goal may be to disrupt service. Alternatively, the goal may be to gain information. Your RMC will likely have access to some of your company and transferee’s data. As a result, their BCP should include plans regarding the impact of cyber-attacks.

What Should Your RMC Include in Their Business Continuity Plan?

Every BCP should include basic information that tells the RMC what the plan includes, and how to implement the plan. Major points to look for:

  1. Contact information for the organization and employees who will implement the BCP
  2. Revision and change management for the BCP
  3. Business Continuity Plan purpose and scope of the plan
  4. Specific instances that indicate when users should activate the BCP
  5. Emergency organizations including contacts and responsibilities
  6. Information on insurance and other policies
  7. Procedures with detail so users have guidelines for how they should proceed
  8. Clear diagrams to show how the business will proceed
  9. Helpful checklists to remind Business Continuity Plan users what they should do
  10. Plan for reviewing, testing, and revising the BCP on a regular basis

What Should Your Company Do?

Your company should contact your RMC and ask for their Business Continuity Plan. Be sure the plan covers all of the major points noted herein. The plan should have details regarding continuity in the face of unplanned events regarding weather, human error, cyber-attacks, and other issues including supplier work stoppages, security concerns, and natural disasters.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients understand the importance of ensuring their RMC has a detailed Business Continuity Plan. We can help your company understand what should be included in a BCP. With this knowledge, you and your transferees can have confidence that relocation services will not face disruption.

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.

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.

Request your complimentary relocation policy review

Categories
Choosing a Relocation Company Corporate Relocation Domestic Relocation Global Relocation Relocation Policy Review Relocation Programs

Advantages of an Expedited Bidding Process

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More companies are using an expedited bidding process when it comes to outsourcing their relocation program to a Relocation Management Company (RMC). This fundamental shift in a company’s approach to outsourcing relocation has many benefits, including significant cost and time savings. As the pace of business continues to increase, expedited bidding has proven to be a boon for companies that are looking to enhance the management of their relocation program.

Global Mobility Solutions’ team of global relocation experts benchmarked 48 companies that have utilized this process to determine the reasons why this approach has risen in prominence in today’s relocation market. Our team has identified five distinct reasons for the increased utilization of expedited bidding.

Five Reasons Why Companies Prefer an Expedited Bidding Process:

1. Companies Buy Solutions, Not Parts

Purchasing relocation management is a much different process than sourcing parts or equipment. Companies understand that ensuring the right fit for the right reasons is the most important factor when sourcing employee-facing services.

2. Complimentary Mobility Consulting

Policy reviews, program design and recommendations, and policy development and revisions can easily be part of this process. This also allows companies to evaluate an RMC’s experience, knowledge of the relocation process, and the quality of their consulting work.

3. Faster Relocation Program Implementation With an Expedited Bidding Process

Over 90% of companies that utilize an expedited process are able to complete their implementation within 22 days. The speed of this approach allows companies to achieve immediate efficiencies in their programs.

4. Avoiding Formal Requests

Utilizing an expedited bidding process helps companies avoid the administrative burdens and resource-intensive approach typical of the more formal Requests for Information and Requests for Proposals.

5. Immediate Cost Savings

Competition inherent in this process often results in cost savings. Improved fee structures and reduced direct costs result in up-front savings for the client. Savings allow clients to increase their focus on strategic business initiatives while the RMC manages their relocation program.

What Should Employers do to Utilize an Expedited Bidding Process?

Employers should utilize an expedited bidding process as they consider outsourcing their relocation management. A Relocation Management Company with extensive knowledge of the global relocation market and the experience of moving hundreds of thousands of employees will provide the best resources for expedited bidding processes. An experienced RMC can also easily guide companies through the process and achieve highly successful results.

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 how to gain the most benefits from utilizing an expedited bidding process. 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.

Request your complimentary relocation policy review

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