Some of my best memories as a child was writing my Christmas list and leaving cookies and milk for good old Saint Nick! As we help companies onboard employees that need mobility, we often hear from HR and employees wishing for more benefits that provides a better experience and doesn’t elevate the cost.
So this month, I want to share three things that can do just that…
- New Area Orientation. When a new candidate is considering making a move to a new city, they want to check out the lay of the land to see where they are going to work, live, send their kids to school, etc.… However, they need a coach to show them around. A relocation professional can elevate the experience with setting up half and full day tours to equip them with information to make the best decision.
- Expense Management Reporting. Are you still keeping track of employee expenses on an excel spreadsheet? There is a better way when you outsource this to a relocation professional. They can help pay your employees quicker and also assist you with proper coding taxable and non-taxable relocation expenses for payroll team.
- Lump Sum Support. Many times companies will provide a check to the employee for moving. This may sound like a good strategy because it is easy to administer and puts the decision in the employee’s hands. However, there are many disadvantages such as the employee not being available to coordinate the move which leaves it up to the spouse, and the lump sum payment is taxable which leave the employee less dollars for relocation. When you direct bill the household goods move, it becomes non-taxable income to the employee and saves money for the company if they are grossing up the lump sum payment too.
What are some of the things you would like to add to your Christmas list when relocating employees?
“Don’t wait. The time will never be just right.” Napoleon Hill
Call to action: Reach out to your relocation partner and request a client review. Ask about these strategies and others that might help you when pursing a candidate with mobility needs. You will be glad you did, and so will your employee relocating.
This has been “A Relocation Minute” on “Christmas Wish List” with Bruce Waller, for more information on relocation resources, call 972-389-5673, or email email@example.com. Follow me on Twitter too!