Looking Through the Corporate Lens!
5 questions to consider when reviewing your mobility program.
I recently attended the North Texas Relocation Professionals, (a local chapter of WorldwideERC) August luncheon meeting which included a talented corporate panel of mobility professionals sharing their perspectives on corporate relocation this year. As we continue to find ways to elevate the mobility profession, I want to share some of my takeaways that might help you look at your corporate relocation program from a different lens to also help you improve your onboarding program when a relocation is involved.
1. Do you have a payback agreement?
This seems to vary from company to company and from US domestic to international expats. 1-2 years seems most common including a sliding scale based on time with company. Some companies strictly enforce payback while others process on a case by case basis.
2. How do you handle exceptions to the policy?
This is always a hot topic and often includes things such as household goods crating, or corporate housing. Companies typically rely on their vendor partners to guide their policy and company as needed. One of the takeaways included using a “three step approach process”.
- Is the exception reasonable? Employee needs upgrade for corporate housing with larger family.
- Is the exception questionable? The home is not ready and employee needing to extend temporary housing or household goods storage.
- Is the exception NOT reasonable? Employee requests to transport a horse or something.
3. How has relocation been for you this summer?
Most companies mentioned they have heard less “noise” this summer. Some areas of challenge includes real estate home sale such as Midland, Texas, or finding a home in Dallas market challenging because of inventory shortages.
4. What are some trends you are seeing?
Companies are seeing more lump sums in their programs. Many use this for entry level moves and some are even looking at ways to incorporate the non-exec moves. Benchmarking continues to be important to stay competitive in the market especially in oil and gas. With the generational shift, the core-flex policy is gaining traction since each employee has different need. Creating a user experience is also very important to the company.
5. What are some things you are doing to be more proactive and less reactive?
Preparing employee for an international assignments, cultural assessments, and repatriation support in key to being proactive, as well as localization in US.
Quote of the day: “Build from the bottom up and not from the top down.” Franklin D. Roosevelt
If you want to find out more information about the North Texas Relocation Professionals, check out the website at http://www.NorthTexasRelocationProfessionals.org.
Call to action: Reach out to your relocation vendor partner today to discuss these questions, and strategies to help elevate your relocation program. You will be glad you did!
This has been “A Relocation Minute” on “Looking through the Corporate Lens” with Bruce Waller, for more information on relocation resources, call 972-389-5673, or email email@example.com. Follow me on Twitter too!