Tag: workforce mobility management

How to Get Ready for a Relocation Assignment

Post author By Michael Barone
Post date January 8, 2024

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

Accepting an offer to relocate can be a great career move

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

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

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

Planning Your Move

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

Research Your New Destination

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

Secure Housing and Budget Wisely

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

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

Network in Advance

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

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

Making the Move

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

Declutter, Organize and Hire Professional Movers

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

Pack Essentials Separately

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

Settling In

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

Explore Your New Community and Meet New People

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

Establish a Routine

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

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

Maintaining Work-Life Balance After a Relocation Assignment

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

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

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

GMS can Guide You on the Journey of Relocating for Work

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

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

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

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.

Tags Domestic Relocation, Global Relocation Tips, workforce mobility management

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Global Talent Shortage Can Be Mitigated With Global Relocation

Post author By Christina Urrutia
Post date November 21, 2023

Group of business people at the office, two of them shaking hands for successful deal, colleagues around applauding

Learn how offering relocation benefits can help hire top talent

It’s no secret that your company must set itself apart from the competition if you want top talent for job openings. What factors can put your company above the rest when hiring for vacant positions?

Offering relocation benefits to those who have to move for the job could be a great way to lure top talent. But just how much does the offering of global relocation packages help persuade candidates to your side?

Korn Ferry’s study “Global Talent Crunch” highlights the skilled talent shortage impacting countries and specific industries worldwide. Many countries are already facing a skilled talent shortage across several industries. The study examines the talent shortage issue across twenty major developed and developing countries, including:

Americas: Brazil, Mexico, United States
EMEA: France, Germany, Netherlands, Russia, Saudi Arabia, South Africa, United Arab Emirates, United Kingdom
Asia Pacific: Australia, China, India, Indonesia, Japan, Malaysia, Singapore, Thailand

Which industries are most at risk due to talent shortage?

The financial and business services industries are the most at risk due to talent shortage. According to the study, these industries could be facing a shortage of nearly 11 million workers by 2030, with about $1.3 trillion negative impact. Across the globe, technological advancement is at risk due to a skilled talent shortage of over 4 million Technology, Media, and Telecommunications (TMT) workers by 2030. Additionally, manufacturing will have a surplus of workers through 2023, quickly becoming a skilled talent shortage of nearly 8 million workers by 2030.

Which countries are most at risk due to talent shortage?

The greatest vulnerability to talent scarcity lies in advanced nations. France and Germany in Europe and Japan in Asia encounter the highest levels of risk. The United States and Australia also confront a significant deficit in skilled personnel, with the US anticipating a staggering loss of approximately $1.8 trillion in yearly earnings by 2030. Conversely, India stands alone among the countries examined, as it remains in possession of an excess of skilled talent until 2030.

What should employers expect?

Employers should expect to find it increasingly difficult to recruit and hire in several countries and industries. Those with plans to expand into new markets should consider this as they develop their hiring plans and corporate objectives.

Employers finding difficulties hiring and recruiting for positions in specific countries and industries should consider highlighting their relocation program’s benefits in their recruiting materials. The healthcare industry has been facing a critical talent shortage for several years. Healthcare employers have responded in several ways, including:

Providing Exceptional Candidate Experiences
Using Data to Enhance Recruiting
Recruiting for Cultural Fit
Creating a Superior Employer Brand
Speeding the Process to Keep Candidates Engaged

Relocation Management Companies (RMCs) are ideal sources for information on global candidate recruitment and relocation. Pre-Decision Services are critical for employers as they provide valuable information about a candidate’s ability to accept a position and be successful. Assessment data can be paired with structured interview questions to understand better the candidate’s interests, goals, and motivations.

Contact GMS for More Resources

The team of professionals at Global Mobility Solutions (GMS) specializes in assisting companies with corporate relocation, creating effective relocation programs that can successfully appeal to and maintain skilled employees. By implementing industry-leading strategies, our team can help your company design a relocation program that enhances your ability to attract and retain new employees and alleviate the challenges of a talent shortage.

GMS became the inaugural relocation firm to become a registered .com. Additionally, they developed the initial digital tools and calculators, which significantly changed the relocation sector. GMS persists in leading the industry by introducing pioneering innovations and technological solutions through their exclusive MyRelocation™ technology platform.

Contact our experts online to discuss your company’s relocation program needs.

We're Here to Help! Request a Courtesy Consultation

Tags global mobility, Global Mobility Best Practices, global relocation, Global Relocation Tips, Talent Management, Visa and Immigration Rules, Workforce Mobility, workforce mobility management, World Cultures and Customs

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How Relocation Management Companies Leverage AI Technology

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

Real estate agent showing a property to an African American couple — Real estate agent showing a property to a happy African American couple using a tablet computer â lifestyle concepts

Learn how GMS leverages AI in their mobility programs

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

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

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

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

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

How does this change the relocation industry?

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

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

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

Does AI help reduce relocation costs?

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

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

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

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

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

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

Connect with GMS to Learn More

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

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

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

Schedule a tech demo

Tags Domestic Relocation Trends, global relocation, workforce mobility management

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How To Craft An Effective Relocation Orientation Program For Employees

Post author By Christina Urrutia
Post date June 13, 2023

Team of new employees going through relocation orientation — Planning, communication and strategy meeting with business people for management, innovation and advertising. Support, marketing and teamwork with employees in office for goals, vision or analytics

Here are some tips to help ease in newly relocated employees

When hiring new employees, it’s important to provide in-depth orientation programs for new hires so they can be onboarded efficiently. This is also important to consider when team members are relocated to a different site, especially if this involves a significant upheaval in their living circumstances.

To that end, here are some tips to follow to build a relocation-focused orientation program that works.

Aligning the Program with Company Culture and Values

One of the essential aspects of crafting an effective relocation orientation program is ensuring that it aligns seamlessly with your organization’s core values and distinctive company culture. This helps relocated employees quickly understand what defines their new work environment, facilitating a smooth transition into their roles.

To achieve this alignment, feature stories that showcase company traditions or events that exemplify your business ethos in written materials and multimedia presentations throughout the orientation process. Encourage participation from existing employees to share anecdotes about memorable experiences at work reflecting vital cultural elements, such as teamwork, innovation, or community engagement.

Moreover, provide clear guidelines on expected workplace behaviors while highlighting how they stem from foundational beliefs driving overall company objectives. Incorporating these cultural insights into every aspect of your relocation orientation program promotes faster integration and fosters more substantial commitment and loyalty among newcomers.

Leveraging Orientation Videos for Engaging Transitions

A well-produced and engaging orientation video is crucial to kickstart your employee relocation program. To create an impactful video, start by outlining the essential information that newly relocated employees need, such as company policies, support resources, documentation assistance, and brief introductions to coworkers or teams they will be working with.

To make the experience more enjoyable for employees while conveying important messages effectively, incorporate high-quality visuals and animations that capture their attention.

Additionally, consider adding soothing background music to establish a relaxed atmosphere during this potentially overwhelming time in their lives. Some sources allow you to download royalty-free tunes perfectly suited for setting the desired ambiance within your orientation materials.

By combining valuable content with visually appealing presentations accompanied by pleasing sounds, you’ll lay a solid groundwork to set newcomers at ease, ultimately contributing to successful talent integration.

Facilitating Smooth Integration: Socializing & Networking Activities

While providing essential relocation information and resources is crucial, addressing the human aspect of moving also plays a vital role in successful employee transitions. Arranging socializing and networking events within your program can significantly aid newcomers’ ease into their new surroundings while making valuable personal and professional connections with colleagues.

Organize informal gatherings like team lunches or after-work outings to help break the ice between relocated employees and their co-workers. Such activities create opportunities for authentic interactions away from workplace pressures. Consider holding optional workshops focusing on common hobbies or sports so that employees bond over shared interests, which is an approach that naturally fosters camaraderie.

Additionally, arrange sessions where newcomers interact with representatives from different departments or divisions, illustrating cross-functional teamwork’s importance in achieving company objectives. By offering varied opportunities for interpersonal connection within the relocation orientation program, you’ll effectively pave the way toward mutual understanding among peers, thus establishing an inclusive environment primed for sustained collaboration and success.

Providing Comprehensive Information on Local Living Essentials

An effective relocation orientation program thoroughly addresses newcomers’ basic needs and concerns, helping them navigate the essentials of day-to-day life in their new location. Providing a guide, either in physical or digital form, can significantly relieve stress by offering ample resources for employees to settle into their new surroundings more comfortably.

Some essential contents to include within this guide may be:

Housing options: Advice on local neighborhoods that cater to different lifestyles and budgets and opportunities for temporary housing as needed.
Transportation: Information about public transport networks, parking facilities, or green commuting initiatives (if applicable).
Healthcare services: Details regarding nearby medical centers, hospitals, or pharmacies.
Childcare and schooling options: Insight on finding suitable schools, daycare centers, or student-support programs.
Grocery stores & dining spots: Recommendations for sourcing daily provisions from supermarkets and favorite restaurants within various budgets.

Setting Up Continuous Feedback Channels to Improve Relocation Experiences

To continually refine and enhance your relocation orientation program, establish open lines of communication for soliciting feedback from employees who have experienced the process firsthand.

Encourage honest responses via anonymous surveys or designated human resource personnel. Also, assess received feedback periodically to identify improvement areas, adjusting as needed within subsequent rollouts.

Ask Us for More Advice on Relocation Services

Now that you know what’s involved, you can start crafting your effective relocation orientation program today. Incorporating these eight essential elements ease employees’ transitions and creates a thriving and inclusive work environment. Enhancing the employee experience by developing a comprehensive support system that paves the way for success will pay dividends for individuals and the business.

If you need more information about employee relocation, contact us today. Global Mobility Solutions (GMS) has led the talent mobility industry since 1987; we utilize up-to-date relocation technology and an award-winning team of global mobility experts.

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Tags corporate relocation, Domestic Relocation Trends, relocation, workforce mobility management

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What Are The Benefits of Outsourcing Global Relocation Programs?

Post author By Christina Urrutia
Post date April 12, 2023

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

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

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

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

Cost Management

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

Savings With Outsourcing Global Relocation Programs

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

Compliance

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

Program Enhancements Through Outsourcing Global Relocation Programs

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

Focus on Their Core Competencies

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

Work with the Best Global Relocation Service Provider

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

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Tags corporate relocation, Domestic Relocation, global relocation, Global Relocation Tips, relocation companies, relocation management, relocation policies, relocation programs, relocation services, relocation technology, Workforce Mobility, workforce mobility management

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3 Tips to Use When Prepping Your 2023 Relocation Budget

Post author By Sam Hoey | CRP, GMS
Post date August 9, 2022

Cropped shot of an attractive young businesswoman working in a modern office with her colleagues in the background

Use these tips to keep relocation costs manageable moving into 2023

We may be working through Q3 of 2022, but it’s never too early to start budgeting for the new year. During the year’s second half, companies begin to evaluate their costs in all areas. Any reliable relocation management company (RMC) would recommend that companies take a look at their relocation packages on an annual basis. This assures talent mobility benefits offered to new employees are competitive.

These tips provided on the business relocation budget focus on research, cost competitiveness, and professional expertise. Focusing on these tips will also help guide the employee’s moving process in a positive direction. Identifying the full scope of what the company covers regarding moving expenses are critically important to developing a useful talent mobility program.

1) Work with a Relocation Management Company

Working with a qualified RMC will help your company achieve success. RMCs have valuable knowledge and experience to determine how to proceed with the company’s relocation services. Having experience helping companies move employees lets RMCs bring essential points to the forefront. As a result, the company’s budget will have a higher degree of accuracy. Also, the process will ensure a smoother and more successful employee relocation.

When choosing the RMC, look for one that offers ongoing employee support services, relocation benefits, superior technology, comprehensive supplier management, and an industry-leading expense management program. In addition, employers should provide resources for employees and their families during the relocation process. This will help them gain confidence in accepting their new assignments.

2) Get Estimates from Multiple Providers

Employee relocation is a significant undertaking. Companies must be sure to obtain the most substantial value from the business relocation. Therefore, companies should ensure that the RMC of their choice can get their relocation programs in the most cost-efficient way.

Obtaining multiple estimates from reputable suppliers helps companies identify cost-effective solutions that meet the business relocation budget requirements. It is important to note that rates can often be negotiable. RMCs that have experts in group move coordination can easily leverage volume to obtain the best rates from van lines for business relocation and for employees’ household goods moves.

3) Research and Understand Your Rights

The Federal Motor Carrier Safety Administration outlines many rights and responsibilities that businesses are entitled to before, during, and after relocation. These rights are noted in Electronic Code of Federal Regulations, Subpart F—Transportation of Shipments §375.601, §375.603, §375.605, §375.607, §375.609. They include:

A van line must move a client’s belongings in a timely manner
The moving company must provide a written record called a reasonable dispatch service
If there is a delay, the company must then prepare a written record of its amended date for delivery

GMS Can Help Keep You Under Budget

Your company’s 2023 business relocation budget will require adherence to cost guidelines. Therefore, ensuring the entire logistical process runs smoothly and efficiently is essential. Global Mobility Solutions (GMS) team of corporate relocation experts has helped thousands of our clients develop their relocation program budgets. In addition, our team has also helped hundreds of clients create and administer their business relocation budgets for individual and group moves. As a result, we can help your company develop a thorough and cost-effective relocation budget to ensure an entirely successful corporate relocation process.

If you are ready to discuss ways your company can save on talent mobility programs, reach out to us today. We will start with a free consultation with you to go over all your needs when it comes to moving employees. From there, our team will work on a relocation budget that can help your company and employees thrive.

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Tags Budget, corporate relocation, Corporate Relocation Factors, relocation budget, Workforce Mobility, workforce mobility management

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Florida Gains Residents for Several Reasons

Post author By Nancy Kritzer | CRP
Post date October 22, 2020

Employees relocating to Florida in 2020 and 2021

News on state-to-state relocation often notes that Florida gains residents as part of a broader domestic US migration trend. Recently it was noted that Florida is gaining even more residents due in part to the impact of the COVID-19 pandemic. Several factors are driving this domestic migration trend, including:

Availability of jobs and future job growth
Corporate relocations
Retiring workers moving to warmer climates
Desire for lower costs of living
Seeking lower tax environments

Many states in the Northeast and Midwest are losing residents to Florida. A review of tax filings shows many new Florida residents hail from the Tri-State region of New York, New Jersey, and Connecticut, as well as Massachusetts and Illinois. Comparing these factors between states illustrates why Florida gains residents while other states lose residents.

New York versus Florida Tax Environment Helps Illustrate why Florida Gains Residents

High taxes are often cited as a major reason that residents depart New York. How high are New York taxes versus Florida taxes? Recent analysis shows New York is the state where residents pay the most in taxes.

In 2018 the US government put limits on individual state and local “SALT” tax deductions for income tax filing purposes. The $10,000 cap on SALT deductions can result in a significant increase in a resident’s federal tax burden. As a result, many high income residents have been fleeing high tax states. The situation has caused some state governments to try to enact workarounds to prevent this effect. However, the IRS is disallowing several of these workarounds. Only a limited number of workarounds relating to “pass-through entities” appear to be excluded from IRS disallowances.

In the case of New York and New York City, unless an individual can leverage some kind of pass-through entity to avoid the cap on SALT tax deductions, they may face many of the following taxes:

New York State Taxes

Income tax
Sales tax (goods and services)
Property tax
“Sin” tax (liquor, tobacco, gambling)
Estate tax
Motor Fuel tax (excise tax, petroleum business tax, petroleum testing fee)

New York City Local Taxes

Income tax
Sales tax (goods and services)
Metropolitan Commuter Transportation District (MCDT) surcharge

In the case of Florida and Miami, it may not be easy to see why Florida gains residents, as individuals may face many of the following taxes:

Florida State Taxes

Sales tax (goods and services)
“Sin” tax (liquor, tobacco, gambling)
Motor Fuel tax

Miami Local Taxes

Property tax
Sales tax (goods and services)

Major Differences between New York and Florida Taxes Shows Why Florida Gains Residents

There are some major differences in the tax situation between New York and Florida. These differences help explain why Florida gains residents while New York loses residents. In particular, Florida does not impose any state or local income tax. There is also no estate tax in Florida.

Additionally, the tax rates may be significantly different, such as in sales taxes. Sales taxes may include state, county, city, and other local taxing jurisdictions.

New York City versus Miami Sales Taxes

Comparing the rates for New York City and Miami:

New York City total sales tax rate: 8.875%

City sales tax 4.5%
State sales tax 4%
MCTD surcharge 0.375%

Miami total sales tax rate: 7%

County surtax 1%
State sales tax 6%

As Florida Gains Residents, What Does This Mean?

There are several points to consider as Florida gains residents. The construction industry will continue to grow with job opportunities as housing, commercial, and infrastructure projects proceed. With a greater number of employees able to work anywhere with new corporate policies, local Florida employers may benefit from their proximity to a larger pool of local employees. There may be further shifts in political representation as the 2020 US Census takes note of Florida’s population growth and New York’s population decline.

What Should Employers do as Florida Gains Residents?

As Florida gains residents, employers should review their talent acquisition and retention programs to ensure they remain competitive in their market. Employers should consider the impact of employees relocating to Florida on current staffing as well as tax withholding considerations. Work from anywhere policies should be examined to ensure employees are encouraged to remain with the employer.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to consider the impact of US domestic migration trends. As Florida gains residents, our team can help your company understand how to identify important issues that may impact talent acquisition and retention programs. We can also help your company understand if a relocation to Florida or a corporate headquarters relocation might be a future opportunity for corporate growth.

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

New SafeRelo™ COVID-19 Knowledge Portal

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

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

Contact our experts online to learn how to position your company’s relocation program for success as Florida gains residents, or give us a call at 800.617.1904 or 480.922.0700 today.

GMS is not a CPA firm, and is not giving financial advice. Everyone’s financial situation is different; individuals and employers should consult their financial advisors prior to making any decisions.

Tags Domestic Relocation, Domestic Relocation Trends, employee relocation, Florida, Florida Gains Residents, Relocating Employees, relocation, Workforce Mobility, workforce mobility management

Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Home Purchase United States Economy

2020 Best States for Homeowners

Post author By Sam Hoey | CRP, GMS
Post date October 15, 2020

What are the 2020 best states for homeowners? While the world may be in the midst of the COVID-19 pandemic, the housing market has been performing at a blistering pace. According to Lawrence Yun, Chief Economist and Senior Vice President, Research at the National Association of Realtors^®, the housing market is booming due to record low interest rates, and to current homeowners looking for larger homes with the shift to remote work. Yun also believes this trend will lead to a secondary level of demand into the next year.

Pursuing the American Dream of Homeownership

Homeownership is a consistent goal in the pursuit of the American dream. It is often cited as the number one way that people can build wealth. The United States Census Bureau reports that the median net worth of homeowners is 80 times larger than the net worth of renters. Beyond building wealth, there are several economic reasons why people want to own a home, and several personal reasons.

Economic Reasons for Homeownership

Tax benefits let homeowners deduct mortgage interest, property taxes, and some home buying costs
Homes appreciate in value over time
Mortgage payments help homeowners build equity in a home
Equity in a home is a form of savings
Fixed-rate mortgage payments do not increase over the years

Personal Reasons for Homeownership

Freedom to make changes and upgrades
Stability helps reinforce neighborhood relationships
Desire for more space
Further distance from neighbors
Ability to pursue hobbies and interests more easily
Avoid dealing with security, pet, and utility deposits

The 2020 Best States for Homeowners

Home buyers will want to know the 2020 best states for homeowners so they can plan accordingly. SmartAsset recently published their sixth annual study on the 2020 best states for homeowners. The financial technology company analyzed several factors that home buyers may consider as they seek to purchase a new home. These factors include ten metrics that cover prices per square foot, costs for insurance, property taxes, closing costs, and other factors.

2020 Best States for Homeowners

Wyoming
Idaho
Indiana
Utah
New Hampshire
Massachusetts
Maine
Arizona
Wisconsin
Washington

Importantly, the study notes that homes appreciated in the five western states by over 5% on an annual basis the past year. Also, the three states in the Northeast rank high for low insurance costs and low burglary rates.

2020 Worst States for Homeowners

Connecticut
Illinois
Texas
Maryland (tie)
Kansas (tie)
California
Louisiana
New Jersey
Delaware
New Mexico

Of the 2020 worst states, metrics such as insurance, home appreciation, and effective property tax rate are comparatively less favorable than similar metrics in the 2020 best states for homeowners.

What Does This Mean?

Home buyers with the flexibility to locate in other markets should be aware of the 2020 best states for homeowners. As housing market demand continues to rise, buyers should work with knowledgeable and experienced real estate agents. Employers with new hires and transferees who are looking to purchase a home one of the 2020 best states for homeowners should work with a Relocation Management Company (RMC). RMCs that have knowledge and experience with relocations are ideal sources for information relating to local housing market requirements. They will also understand the reasons why employers should encourage transferees to buy instead of rent.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to provide solutions for their new hires and transferees who are looking to buy or sell a home. Our network of top agents market homes following industry best practices. As a result, they will help home buyers and sellers understand how to find and purchase homes in the 2020 best states for homeowners.

New SafeRelo™ COVID-19 Knowledge Portal

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

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

Contact our experts online to learn more about the 2020 best states for homeowners, or give us a call at 800.617.1904 or 480.922.0700 today.

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Corporate Relocation Corporate relocation tips Domestic Relocation Domestic Relocation Challenges

Temporary Housing Solutions in Times of Crisis: 2020 California and Oregon Wildfires

Post author By Sam Hoey | CRP, GMS
Post date October 8, 2020

Woman sitting on floor, smiling, holding coffee cup, looking at large dog in in their temporary housing

Temporary housing solutions have applications beyond providing homes for transferees on short-term assignments. Recently GMS was contacted by several clients and prospective clients seeking assistance for employees displaced by the 2020 California and Oregon wildfires. Many of these employees lost their homes to fires or had to be evacuated to another location.

Each of the stories is heartbreaking for the employee and their family members. Ultimately, GMS was able to provide immediate assistance for everyone who called seeking temporary housing.

Sam Hoey, Senior Vice President, Business Development, oversaw the GMS response for our clients and prospects. Sam agreed to share the solutions that GMS implemented.

Traditional Temporary Housing Solutions

GMS recommends clients choose traditional temporary housing solutions for a number of reasons. Important criteria that are addressed with traditional solutions include:

Move-in Inspection covering several points
Cleanliness meeting specific standards
Emergencies and Maintenance Issues
Security Standards including the Wi-Fi System

Traditional temporary housing gives clients and employees peace of mind that these major areas of concern are taken care of down to the last detail.

Scope of Client’s Immediate Needs for Temporary Housing

Destruction from the 2020 California and Oregon wildfires is vast and widespread:

California

3,000 homes destroyed
100,000 evacuees displaced
Over 7,000 wildfires

Oregon

2,200 homes destroyed
40,000 evacuees displaced
500,000 residents under evacuation warning

The wide area of destruction spread over both states impacts many employees. In some cases, over 400 employees were displaced in just a few days, with many actually losing their entire homes. Employers seeking to help for their displaced employees contacted GMS to discuss how best to help those in need.

GMS Leverages Temporary Housing Solutions

After receiving requests for assistance, Sam sent the clients and prospects a clearly written communication. The instructions were to send the communication to their employees about who to contact at GMS for immediate assistance.
GMS set up every employee in need with a GMS Relocation Coach. The Coach assessed their needs, and in many cases then sent the request to a client-directed preferred temporary housing provider, ATB Housing.
A few cases required specialized responses. One employee displaced in Salem, Oregon, also had 4 large dogs. Instead of sending the dogs to a boarding kennel, GMS sourced a nearby fully furnished apartment for the employee on a 30 day rental basis.
Some employees preferred booking extended stay hotels instead of temporary housing for the time being since they did not know what insurance would be offering them for their specific cases. ATB Housing also arranged the hotel options for these employees.

What Does This Mean?

GMS has a team of experts that help clients address nearly any relocation issue, including an emergency request for temporary housing. Clients should work with a Relocation Management Company (RMC) that has extensive knowledge and experience in housing solutions for employees.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to respond to emergency situations and changing employee needs. Our team can help your company understand how to find appropriate temporary housing solutions during any type of local crisis, including wildfires.

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

New SafeRelo™ COVID-19 Knowledge Portal

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

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

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts. Contact our experts online to learn about temporary housing solutions for your employees, or give us a call at 800.617.1904 or 480.922.0700 today.

Tags corporate relocation, domestic mobility, Domestic Relocation, employee relocation, Healthcare Corporate Housing Solutions, Temporary Housing, Workforce Mobility, workforce mobility management

Corporate Relocation Domestic Relocation Global Relocation Global Relocation Challenges Relocation Best Practices Relocation Management Relocation Policy Review Relocation Programs Talent Mobility

2020-21 Corporate Relocation Budget: Start Planning Now

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

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

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

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

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

Business Growth

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

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

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

New Corporate Expansions

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

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

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

Immigration Limitations

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

Need for Highly Qualified Staff

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

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

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

1. Relocation Policy Review

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

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

2. Historical Data Review

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

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

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

3. Significant Cost Generators

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

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

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

4. Accounting Accruals

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

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

5. 2020-21 Corporate Relocation Budget Strategic Initiatives

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

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

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

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

Conclusion

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

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