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Free Whitepaper: How to Talk to Your CFO about Relocation

Out of all the executives in the c-suite of an organization, the Chief Financial Officer (CFO) can be the most intimidating. We’ve all been there, right? You are running a program that goes over budget and, all of a sudden, the CFO has taken notice and is knocking on your office door. As your brain starts to work on calculations and an explanation all at once, you may find yourself a bit…panicked.

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?

To Stage or Not to Stage?

We all know time is money.  When it comes to real estate, this couldn’t be truer. While the sales price of a home may not change, obtaining a sale quickly can save a considerable amount of money in the form of carrying costs and even loss on sale if the market is in decline.  One way to give prospective buyers a perception of the depth and functional usage of space is to furnish the home. As such, transferees may request additional monies for staging the home as a part of the home marketing benefit. Should you comply?

Top 10 Most Expensive Cities for Expats (and What HR Can Do About It)

Are you relocating employees to Moscow, Tokyo or Luanda, Angola? If so, we feel for you…and them. Apparently, these are the top three most expensive cities for expats and, if they are a part of your global mobility program, then they are likely a top three on the headache list for you.

Mercer recently released their 2013 Cost of Living Survey, which analyzes the cost of living across 214 cities across five continents. They survey compares the prices of more than 200 items in these cities, including real estate, goods and services, to the cost of these items in New York City. Why New York? Well, New York City is the most expensive city in the U.S., so it serves as a good barometer for cost of living comparisons around the globe – especially if your expats are moving from the U.S. to an international destination.

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.

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. 

Infusing Flexibility into Relocation Policies for Senior Executives

Flexibility in Relocation PolicyMoving today’s relocation savvy executives adds a layer of complexity to the relocation process, as well as an additional expense. As many of us know, senior personnel requires more assurances and enticements in order to make the relocation attractive enough to accept.

How to Effectively Customize Your Relocation Program (Free Whitepaper)

How to Customize Your Relocation Program

We are excited today to introduce our latest whitepaper, How to Effectively Customize Your Relocation Program. As many of you know, the first quarter of every year is a great time for HR, procurement and relocation managers to assess their current relocation programs and see if they are meeting the needs of both their transferees and their budgets.

How to Make Your Lump Sum Programs More Efficient

How to Make Lump Sum Programd More EfficientAt the end of 2012, we issued an EBook on the Top 10 Ways Relocation Programs Lost Money in 2012. It was well received. HR managers and relocation experts should consider ways to save money now that 2013 has started and there is still time before busy season starts in April. As a partner to HR, we want to help cut costs and will continue to work on new ways to streamline the relocation process, reduce redundancies and tighten overall program management. 

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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