Risk Management | Will the employee be expected to cover costs upfront and claim the money back from the company? You want a policy that is not only flexible but also takes into account well-known relocation factors to ensure a smooth move for your employees and your organization. Allow Plan Flexibility – The policy you end up creating should be flexible enough to accommodate moves from anywhere in the Continental US (CONUS). It is also a complex and stressful process. House-hunting trips: Your employee will need to find a new place to live, so budget for a few trips ahead of … Childcare expenses may also be included for these trips. Ultimately, your goal should be to encourage cooperation and good performance from your employees, by protecting their financial interests and helping them maintain a healthy work-life balance. Typical Relocation Packages Today. The largest section of your employee relocation policy is likely to address the benefits on offer and how employees should go about claiming them. Instead, I would recommend a chart like the one outlined in the graph below which takes into account a move from a mileage perspective: 2. Think of your policy as a … Applying the relocation policy. The purpose of a relocation policy is to set out employee relocation procedures and benefits, so that individual staff members understand their rights in relation to a proposed relocation. It allows you as the employer to source some of the best candidates from outside of your city, increasing the talent pool and staffing your business with the best people. Statistics show that costs can range from $85,673 to relocate a current employee who’s a homeowner to $27,437 for a renter. Dos and don’ts for a successful move . We have developed customizable … This website uses cookies to improve your experience. Value of Package Available . If more than one Company employee from the same household is being relocated, the relocation policy will be administered on a single household basis. This policy operates entirely at the discretion of the University and … Employee transfer policy has specified the frequency of transfers that may occur in the organization. When relocating employees, a transparent, flexible and well-communicated relocation policy is a must. New employees at the NIH may be entitled to financial assistance to cover the costs of traveling and moving their household goods if the position requires them to change locations. Ensure Relocation Packages are Market Competitive – People talk to one another about benefits packages – a lot. To help alleviate any questions a significant other may have, one suggested consideration is holding a conference call with both the candidate and their significant other to address any questions their loved one has. An effective relocation policy must specify precisely who would be eligible for relocation benefits. All employee’s existing rights, including contractual rights and redundancy protection, stay the same. All Rights Reserved. Bargaining unit employees should also consult their respective collective … They can either manage the relocations themselves, through the HR Department or someone on the Operations side of the house, or the organization can outsource the relocation to a relocation company. … Travel, food and accommodation to seek out new lodgings. By submitting, you agree to our Privacy Policy. You are encouraged to thoroughly review this relocation guide to … Taxable Reimbursement . Costs associated with buying, selling or renting a home. 4. When drafting the relocation policy, you should be clear about which relocation costs will be covered or reimbursed, and to what extent. The employee … When developing or reviewing your relocation policy, you should consider all the ways in which a staff member or their immediate family may be affected by relocating to a new place of work. 2 trips. The options and benefits will be different for each category. This may be applicable if – for instance – the employee’s travel costs slightly exceed the limit set out in the policy, or if additional unforeseen expenses are incurred as a result of the relocation. 1. The purpose of an employee relocation policy is to relocate talented employees for the benefit of both the employee and the organisation. In-House vs. Outsourced Relocation Administration– Companies have two options when creating a relocation policy. You also have the option to opt-out of these cookies. Clause in their employment contract policy as a foundation for Creating a new owner introduces. To discriminate against employees with these policies your policy as a straightforward guide for your.. 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