Companies come in all shapes and sizes. There are large organizations with complex organizational structures to smaller companies that have only a few employees. One common thread is the need to achieve business goals which requires attracting talent. Many times the best talent can be found locally, but often requires mobility for a new candidate, an executive opening a new office, or even an employee in a developmental role.
When relocating employees, we have learned that different lanes will yield different experiences for the employee and family. There are basically three lanes to consider when managing a relocation for both US domestic and international. Each each lane has many positives, but can also present potholes and the opportunity for detours to help make each relocation a better experience for the employee and family. Some employees don’t have the time or expertise to manage a lump sum relocation which creates challenges trying to get family transitioned,, while other employees are looking for a great experience, but the company doesn’t have the bench strength to manage the program and need a relo partner for support.
So which lane are you in?
- Lane 1 Lump Sum Relocation
This lane is easy to manage/administer, but can be costly due to taxable income for companies when grossing up or to employee receiving non-taxable income. There is a lump sum “plus” program that can be less costly and a detour to consider for best experience.
- Lane 2 In House Relocation program managed partnerships by HR staff. Managing relocation takes expertise and bench strength, but can yield great results for the relocating employee working with partners they know and trust. The pothole to avoid is bidding moves during the summer peak season. Investing time identifying partners for the employee and family and using a distribution model will elevate the experience for everyone.
- Lane 3 Outsourcing / Partnering with Relocation Management Company. This is a great option when you have limited resources to manage and support executives with home sale purchase, as well as capturing expenses for tax reporting and more flexible. The key is to align with the RMC that best fits your program goals and culture.
Call to Action: Do you want to learn more about potholes and some of the detours available for your team? Attend HRSouthwest Conference on October 2, 2017 in Fort Worth, Texas to attend my session. Register at www.HRSouthwest.com. If you can’t make it to the conference, reach out to your partner to identify potholes and the best way to navigate around them, detour, or just change lanes for best experience.
“If you could get all of the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time.” (Patrick Lencioni)
This has been A Relocation Minute on “Find your lane onboarding talent” with Bruce Waller, For more information, call 972-389-5673, or email email@example.com or check out our my social media facebook and twitter page.
Also, check out www.BruceWaller.com for review my latest leadership book “Find Your Lane” on sale at Amazon!