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How to Project Relocation Costs More Efficiently

With relocation busy season around the corner, relocation managers are probably dusting off their policies and taking a good look at relocation budgets. But, how realistic are those budgets? One of the biggest challenges that human resources and procurement managers face is the difficulty of designing a proper relocation budget and then sticking to it when the rubber hits the road. That’s why clear cost projections are the linchpins that connect cost containment with adequate relocation benefit delivery. In order to ensure clear projections, its critical to get the most accurate view of anticipated costs right out the gate, preferably before an offer has been extended to the potential transferee.

Must Do’s for Communicating Your Relocation Policy

If you were to ask your transferees today what’s included in their relocation policy, do you think they would be able to answer the question? If the answer is yes, then good for you because you are doing something right! If the answer is no, then you are not alone. For a variety of reasons, many transferees don’t have a good grasp on their policy, let alone the relocation process. Most of the time it boils down to communication.

College Grads and Relocation

When I was a senior at the University of Delaware, springtime meant a lot of different things. Finding and applying for jobs topped that list. Colleges and universities are getting ready to close out the 2017 spring semester and college grads and relograduation is right around the corner for students all over the country, which means that thousands of young adults are getting ready to enter the workforce.  If you are planning to recruit new grads, it’s a good idea to consider relocation benefits. Even a little help for a recent grad can go a long way and I believe that providing relocation assistance will give companies a recruitment advantage.

XONEX Relocation Places in HRO’s 2017 Baker’s Dozen


XONEX Relocation is proud and honored to announce that we placed on HRO’s Baker’s Dozen list for relocation services for 2017 and were ranked 3rd for Quality of Service! This list is ranked solely based on feedback provided by the buyers of relocation services specifically. HRO collects feedback annually through an online survey, which the magazine distributes both directly to buyers through their own mailing lists and indirectly by sending service providers the link to send to their clients. The
survey covers three subcategories including service breadth, deal sizes, and quality. Once collected, response data are loaded into the HRO Today database for analysis to score each provider that has a statistically significant sample.

 

At XONEX, our clients are not just clients, they’re partners in this business and we are so grateful to work with so many incredible companies. Without you, we wouldn’t be the company we are today. Thank you so much for your support and your business!

A Short & Sweet Brexit Update

We all remember last summer’s big Brexit news. Well it’s far from over. Now that 2017 is in full swing, it’s time to take a look at the UK housing market and the impact that Brexit may have moving forward. If you have employees relocating to the UK and/or employees already on assignment in the UK, it’s important to take notice of the market for renters and homeowners alike.

3 Issues HR Will Face Throughout 2017

 

Each new year brings new obstacles in the workplace. It’s inevitable as both the workplace, the people in it and the people who run it shift and change with time. Last year was no picnic for HR and upper level management and 2017 will not be without its issues either. Below are three hurdles HR can expect to run into throughout the coming year as well as solutions to power through.

2017 Housing Market Snap Shot

Every year, Zillow conducts research to predict the top ten housing markets for the next 12 months. Real estate experts consider home values, unemployment rates, and income growth before making the top ten list. This year, most of the list is comprised of western cities but 2017’s number one “hottest housing market” is Nashville, TN.

Oh No! It’s a Blizzard and Today is My Moving Date

Snow, cold, and ice add stress to our day to day lives without adding a move on top of it. But life doesn’t stop because the weather gets bad and so it’s important to know how to keep everything under control during a move, especially when that move is on a work timeline. Obviously, in extreme conditions, such as a blizzard, it is very possible that your transferee’s mover will have to postpone pickup and/or delivery. Safety is always priority number one for both employee and vendors working with them. However, winter moves are not uncommon and there are certain things that can be done to make sure they run smoothly.

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.

Transferee Tax Filing Tips

Tax season has arrived. It is both a headache and a relief for some people as they stumble around the rules and regulations of tax laws, exceptions, deductions, and write offs, hoping for a big return. Obviously, it’s important for everybody to take care when filing their taxes but it’s especially important for recently relocated transferees to understand exactly what their work related move entails in terms of filing. The best advice I can offer is to have your transferee speak to a professional tax consultant to ensure everything is filed correctly, but there are several tips, tricks and reminders that I can offer right now.

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