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Monthly Archives: August 2013

Happy Labor Day!

Hooray…it’s Labor Day!

For those of us in relocation, labor day is a signal (read: sigh of relief) that another busy moving season is coming to a end. But, it’s also more important than just the closing of another summer. It’s a time for all of us to celebrate the contributions that workers have made to the United States, as well as to their organizations and local communities.

Thank you to everyone at XONEX Relocation for their hard work (this summer and every day) and to our clients for being the best partners a relocation company could have. We hope everyone has a lovely, restful and well-earned holiday.

Happy Labor Day!

 

The Low Down on Temporary Living Expenses

Temporary living can be a doozy of a line item in a relocation budget.

Employers, capped-budget transferees, and even those who really do care how much their move costs their company (yes, some really do!) can find themselves sticker shocked from temporary living totals. Occasionally, we are confronted for overcharging for temporary living arrangements we have made. The reality, however, is that temporary living charges are directly passed through to our clients with no markup.  Here’s what’s happening.

Three Repatriation Challenges HR Must Conquer

One of the biggest mistakes a company can make regarding relocation is assuming that an international assignment is complete once the employee returns to the home country. In many ways, it is at this exact moment that HR needs to step in with gusto. A repatriation program is a vital step in the process that should not be taken lightly. In fact, one recent study from the University of Iowa notes that up to 38 percent of repatriated employees quit within a year of returning home. When you consider that companies spend millions of dollars on global assignments, this number is shocking…and depressing.

Are Tax Gross-ups Worth It?

As we know all too well, the tax implications of relocating employees is significant. With the exceptions of household goods moving, 30 days of storage, final move expenses and compliant home sale programs, many relocation benefits are taxable to the employee. Further, not only must you treat the other expenses as income to your employee, you must also treat any tax assistance for covered benefits as taxable income as well. 

Three Relocation Exceptions to Watch Out For…

Back in February, we discussed how important it is for relocation managers to be as consistent as possible when granting exceptions. Inconsistent exceptions not only pit employees against each other, but they can also bloat the overall relocation budget. That’s why a lot of savvy HR and relocation professionals are adamant about documenting the details behind the exceptions they grant. Later on when a similar situation comes up, or even at the end of the year when you are planning budgets, it’s just too hard to remember the rationale behind certain decisions.

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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