A Relocation Minute… 5 things employers need to know when “Relocating an Executive”.

I have enjoyed the opportunity to help many companies move their key talent and executives for almost 20 years. During this time, I have noticed that when a company needs to relocate an executive or key employee, it is always a high level relocation and many people in the company are watching to make sure all goes well.

Executives are busy with many new initiatives, and don’t have much time available to deal with the relocation because they are focused on getting settled in their new role as the leader. When an employee accepts the position, there are many things on the employee/family mind such as house hunting trips, new schools, new job, and more. In fact, the executive often leaves the household goods move responsibilities with the spouse due to his/her limited time available for the move. In these cases, it is imperative to have a relocation partnership to help ease the complexities and provide a smooth transition for the family and the company.

Here are 5 things employers need to know when relocating executives, and key talent in the company:

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  1. It is best for the company to pre-qualify the best in class moving provider to handle an executive relocation. Employer’s and/or employee can “waste a lot of time” trying to get bids, and establish the low cost provider. A true partner will provide a great moving experience for reasonable costs. This will give the employer peace of mind and most importantly – accountability. If the employee picks a low cost mover with no insurance, no reputation, and no experience – it can actually cost you more at the end of the move with time, frustration, and money.
  2. Transportation agreements with a moving provider don’t cost anything. In fact, there are opportunities to get best in class service with corporate discounted pricing during peak moving season, including FREE valuation coverage to help stretch the relocation dollars for the employee. Direct billing to the employer will also provide non-taxable income to the employee. This can create significant savings for executives, especially those that receive a lump sum relocation allowance.
  3. Moving can be stressful. Using the same single point coordinator contact for each move can ease the complexities for the employer and the executive moving. Your service delivery team will coach you and the family from estimate to delivery.
  4. Delivery is critical and there are many options to consider when helping executives get settled. When executives relocate, there are often times when unpacking and put-away service is needed. A good partner can help you understand options available, and recommend which services might be needed to help make it a smooth transition.
  5. Relocation is typically not the highest priority for the HR professional due to many employee relations initiatives in progress, until there is an executive relocation happening, and then it is all hands on deck. A good relocation partner will also provide valuable resources to help support your relocation policy which could add value to recruiting best in class employees.

Take the stress out of your day by pre-qualifying and establishing a moving provider partnership. It doesn’t matter if you have 5 or 100 moves – they are all important.

This has been a relocation minute on “5 things employers need to know when relocating an executive” with Bruce Waller, CRP, PHR…. For more relocation resources, contact Bruce Waller at 972-389-5673 or bwaller@goarmstrong.com

 

 

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