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relocation benefits

Airbnb for Home Finding Trips

The more I use Airbnb for travel, the more I fall in love with the concept. Airbnb is a travel site that allows people to rent out private rooms, apartments, or even entire houses for a select period of time. Now think about this: The home finding trip is essential in your transferee’s search for a new home at destination. They need to be armed with plenty of information and resources to ensure they select a home that will work them and/or the whole family. Since the whole home marketing and home finding process can take such a big toll on transferees, why not present them with options that turn the home finding aspect into something desirable and fun?  

Don’t Trust Temporary Living Lease Terms

Yep, we said it. At times, temporary living is a necessary evil, as opposed to a relocation benefit. Semantics, to be sure, but nothing turns us off more than landlords or property management companies who pack their lease agreements with fine print clauses designed to “trap” distracted transferees into a longer lease term and/or additional fees. It’s a shame and it’s bad business but, unfortunately, it happens.

Free Whitepaper: 10 Temporary Living Rules to Live By

We’ve been talking a lot about temporary living lately – and with good reason. As we know, temporary living is one of the bigger line items in the 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.

Three Moving Lessons from the Busy Summer Season

When a company works with a quality relocation management company, HR can rest assured that their transferees are well taken care of. However, that doesn’t mean that your company’s gatekeepers are totally off the hook. When it comes to relocation benefits, there is no one size fits all package, which means exception requests are bound to happen. Aside from selling and buying a home, the physical household goods move is the most stressful aspect of a relocation for your transferee. We are almost out of the woods with 2015’s busy moving season, so I figured I’d share some of this year’s biggest takeaways.

Temporary Living Must-Do’s

We’ve talked a lot about the real estate market lately and it’s no secret that rental prices are skyrocketing. Given this trend, and my own experience in temporary living, I thought it was due time for a post about what transferees (and companies) should know about temporary living.

Relocation Policies Across the Generations

I’ve written about Millennials and menu programs in the past and, as a team, we have certainly covered the generations in our EBooks. But, the discussion is important. As we all know, the makeup of the average assignee/transferee pool continues to change with the progression of the Millennials into the ranks and the exit of the Baby Boomers. For the first time ever, we have four generations working together – and that’s diversity that people rarely think about in the grand scheme of the diversity conversation.

Mortgage Outlook for Relocating Transferees

Over the course of 2015’s first quarter, a lot of home buyers found that obtaining a mortgage was easier than it had been in the past. And, it’s true. Banks seem to be more willing to lend now compared to recent years, though they’ll never admit any hesitation in the first place. A lot of this ease stems from the new loan options out there as well as current housing and economic trends around the country. In fact, the Zillow Mortgage Access Index tells us that access to mortgage credit is almost 70 percent of the way back to 2002 levels. To make a long story short, the economy and housing market have put lenders in a position where they are more willing to lend. So, what does this mean for your relocation program or for your transferees?

Does Your International Relocation Policy Address Culture Shock?

One of the greatest challenges that transferees face during an international relocation or assignment is the culture shock. A change in culture has a major impact on nearly every aspect of a person’s life including both professional and personal. It’s important that your international relocation policy provides proper training to help assignees adjust to local customs and ensure success in both the position and the relocation as a whole.

Relocation Managers Reconsider Household Moving Benefits

As we gear up for the busy summer season (yes, it is around the corner), we want to take some time to talk about moving household goods. Companies have, for a long time, been giving some of their employees (especially entry-level employees) lump sums for their household goods move. While lump sum serve their purpose in the broader context of a relocation policy, we have noticed that more relocation managers are reconsidering this thought process and returning to a direct-billing approach. They are doing this to provide a better relocation experience, mitigate risk and save in tax implications.

2014 Worldwide ERC Transfer Volume and Cost Survey

Every year, as you know, we like to take a look at the Worldwide ERC Transfer Volume and Cost Survey to identify relocation industry trends. We always write about some of the important highlights and, this year, we are excited because the numbers are optimistic.  We are also optimistic here at XONEX – we are excited for 2015 – and we feel that these trends are consistent with what we have been seeing here. Even though the survey collects data that is a year old (despite being a forecast) – this year’s data is from 2013 – I think it’s still relevant and interesting. Also, now that we are in 2015, we can see how close the survey actually was to reality (feel free to weigh in on the comments section.   Further, survey respondents include a broad range of respondents representing approximately 23 different industries including retail, manufacturing, insurance and more.

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RICK CALANNI
VP of Business Development Northeast Region

 

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