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The Buyer Value Option is Still a Relocation King

Last week, I talked a little bit about real estate transactions and how they should be implemented, specifically in a Buyer Value Option (BVO) program. In response, I received a few questions about whether or not the BVO is still the best home buyout program in this economic climate.

How to Have a Successful Real Estate Transaction (BVO)

With summer winding down, I’m surprised to see that there are still so many homes on the market. On my way to work this morning, I counted more than 10 for sale signs! It made me question whether we are seeing so many signs because the market is back, or whether we are seeing signs because homes are not selling. My conservative nature is pushing me to the latter but, at the same time, we haven’t been having too hard of a time unloading homes here. So, maybe it’s a little of both. It could also be our approach here. We are pretty meticulous about the way we handle real estate transactions during relocation.

Happy Labor Day!

After a very hectic and busy summer, Labor Day is the relocation industry’s first sign of deceleration. But Labor Day is much more than that of course.XONEX Relocation

Labor Day is a day meant to recognize and celebrate the contributions that employees have made to the organizations they work for and the communities they live in.

Thank you to everyone at XONEX Relocation for their hard work (this summer and every day) and to our valued clients for choosing to partner with us. We hope everyone has a lovely, restful and well-earned holiday.

Happy Labor Day!

Have You Defined Your HR Technology Needs?

I think it’s safe to say we live in a digital world now. Technology is the backbone for so much of business today that every position in every company is touched, in one way or another, by multiple forms of IT. But, as technology conversations infuse our daily lives, I’ve noticed that the discussions are rarely specific, defined or realistic. What do we really need out of our HR technology?

Employee Retention Pitfalls after Relocation

We’ve talked quite a bit on this blog about payback agreements. Oh, the payback agreement. We both love it and hate it at the same time. Is it a necessary evil? Perhaps. We certainly don’t believe that companies should spend thousands, if not hundreds of thousands, of dollars on a relocation if there is a risk that the transferee will resign before the contracted period is up. Putting aside financial concerns for just a moment, however, I think we need to take a closer look at why payback agreements are so prevalent (94% of companies require them) and if there is a better, more effective way to ensure that talent stays on board after a transfer or assignment.

How to Explain Delivery Spreads to Your Transferees

Aside from selling their home and finding a new one, the household goods moving process is the most stressful aspect of your employees’ relocation process. There are a lot of details and steps involved in ensuring the move goes smoothly and in a timely manner. While your relocation provider will spend time explaining each step, should the household goods move be included in the transferee’s policy, it is always a good idea to provide your transferee with as much helpful information as possible as the employer as well. The purpose is to manage expectations, especially during the height of the busy moving season. One of the biggest issues people tend to have regarding the household goods move is the concept of a delivery spread. So what exactly is a delivery spread?

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.

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