Recent Tweets

Follow Me on Twitter

Powered by Twitter Tools

Four Helpful Sites for Expats on International Assignment

Moving abroad for the first time can be overwhelming for expats on international assignments. They have different challenges than domestic transferees: cultural differences, language barriers and regulatory disparities are just a few of the obstacles that employees face while on assignment. HR professionals, relocation managers and relocation companies all do our best to adequately assess candidates prior to the assignment (are they right for the assignment?), and then prepare them for the experience. But, no matter how much we do for our assignees, we cannot walk with them through every moment. We can offer support and guidance, but we cannot join them in their adventure.

Housing Market: Top 10 Turnaround States

Earlier this week, I read a CNBC article and slideshow about the top 10 turnaround states in the nation as it pertains to their financial stability.  It’s pretty neat to see the 2011 rankings versus what is going on today, especially since it’s the housing market that seems to be driving the recovery.

Three Must Have Rental Assistance Benefits

Historically, relocation packages have focused on homeowners. However, since the economic downturn has made renting more popular, there are more transferees renting today. Further, we know that most Millennials are not yet buying homes for various reasons. For one, tight mortgage restrictions, a difficult job market and rising home prices has made home buying seem unattainable. Also, younger generations are enjoying the flexibility of renting, especially as rentals are now being built with great amenities.  Will this trend continue? It’s hard to say. At some point, the Millennials will dominate the workforce and should have the financial means to start buying. When that happens, there will be a substantial uptick in the market as the Millennial generation is as big as the Baby Boomer generation. For now, however, we expect to see the rental trend continue.

Payback Agreement Best Practices

Lately, we’ve been getting a lot of questions about payback agreements. We have chatted in the past here about whether or not payback agreements work, but we haven’t really discussed best practices in depth. We do recommend payback agreements for employers as a means to protect them against major financial losses should a transferee resign before the contracted period is up. But, from an industry perspective, we were curious about what others do. We tapped the Worldwide Employee Relocation Council’s knowledge center and here’s some of the relevant info that we found.

Are Mortgage Buydowns Lurking in Your Relocation Policy?

Lately, there has been a lot of talk about mortgage rates going up. Of course, the media pings pongs the issue back and forth: one day, we hear that rising rates are stemming housing demand and the next day, we hear that rates will remain steady. In all honesty, we don’t anticipate a drastic rise in rates this year, but by 2015 we could be back in the 5% range and that’s worth looking at. Employers who currently still have mortgage buy down components in their policies probably haven’t looked at them in years – there was no need. Before rates do jump, however, relocation managers may want to revisit the policy.

Free EBook: Top 50 Relocation Question from Transferees

Every year, we move thousands of corporate transferees around the globe. Some are homeowners, some are renters, some are domestic and some are international. We handle group moves, family moves, individual moves, temporary moves and even permanent moves. As you can probably imagine, we have fielded just about every transferee question pertaining to relocation there is…even some real stumpers!

Three Simple Steps for Relocation Benchmarking

Many of our clients like to hear how their costs, policies and specific benefits compare against a client base of similar size and industry. We are often asked by our clients during our quarterly meetings whether their relocation costs are typical and whether the benefits they are providing in their relocation programs are competitive. Benchmarking is always a smart move. Whether benchmarking against best practices or other companies within your industry, it is important to know and understand how your relocation program stacks up.  Further, it demonstrates to senior management that you have done your due diligence and have made informed recommendations and decisions.

Happy Memorial Day!

It’s that time a year again! The official kick off to a long-awaited summer season. For those of us in the relocation business, Memorial Day also marks the start of the busiest time of the year.Memorial Day

That’s why we want to take the time to reflect now – because Memorial Day is so much more important than just the start of the
summer season. Memorial Day is a time to remember and honor all of those who have died defending our lives and this great country. And, it’s a time to thank those who are still fighting for the lives we live every day.

Thank you to all of our veterans, active and inactive, old and new, for all that you have done and all that you still do.

Happy Memorial Day!

When to Make an Exception the Rule

The increase in exceptions over the past several years is a good indication of the pressure employers are feeling to address the concerns of skilled talent. Unfortunately, over time, managers and previous transferees often share commonly granted exceptions with new transferees as if they are a staple of the program. Consequently, unexpected relocation expenses start to spring up frequently.

Solutions for Managing Temporary Living in Remote Areas

We manage a wide variety of relocation programs for firms in a wide variety of industries. Sometimes, we are charged with moving employees to very remote locations with few relocation resources. With a little creativity and patience we can always make it work, but there are some relocation benefits that present a greater challenge than others. One of the most common issues we deal with (as well as a frequently asked question) is finding adequate and budget-friendly temporary living in remote areas with few options and high prices. So, how do we solve the temporary living problem?

Search