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relocation policies

Top 50 Relocation Questions: Part 1 of 5

Every year, we move thousands of corporate transferees around the globe. Some are homeowners, some are renters, some are domestic and some are international. We handle group moves, family moves, individual moves, temporary moves and even permanent moves. As you can probably imagine, we have fielded just about every transferee question pertaining to relocation there is … even some real stumpers! As we are gearing up for the busy relocation season, it dawned on us that we should be documenting all of the questions we receive and the answers we provide so that we can share it with you, as well as our transferees. If you have ever wished for a desk reference of frequently asked relocation questions so that you can respond to your employees, this five week blog series is for you.

Managed Cap Program Managers: Yay or Nay?

Like corporations, employee relocation service providers have had to adapt to shrinking program budgets, less company gatekeepers, and ongoing pressure to simplify the process. Some companies, in response to budgetary constraints, and just not having the personnel to administer multi-benefit programs have switched (especially with Managed Cap Programstheir lower level and rental programs) to a lump sum or managed cap program. Both these programs offer the companies more budget certainty and uniformity. Noting this, some relocation providers have entered the market with a stripped down, limited scope approach. Whereas the traditional service provider had previously geared their approach toward homeowners, with modifications scaling back benefit levels for the renters, and college recruits, these new companies focus on the growing population of less defined relocations.

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.

Two Relocation and HR Lessons from the Worldwide ERC Conference

As you know, I recently attended the Worldwide ERC conference in Chicago, IL. I love leaving a conference with my head filled with new experiences, new friends and a whirlwind of new educational information. In addition to my learnings about big data and relocation, which I discussed in my last post, I also took away two recurring lessons that I want to share here. These lessons dominated my dinner table conversation so, clearly, everyone is thinking about it!

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.

Spouses Relocate Too

A 2013 survey done by LearnVest and Chase Blueprint® tells us that 60 percent of American families believe that a dual income is necessary in order to afford their desired lifestyle. Fifty-nine percent of millennial women believe that living together with their significant other is a legitimate lifestyle and that raising a family in such lifestyle, even without marriage, is perfectly suitable. What does this mean for relocation? It means that companies need to start paying more attention to their spousal assistance benefits.

HR Interview: The Future of Relocation

Last year, at a CMARC conference, I had the pleasure of meeting Maggie Huffman and Jason Beane, both of whom support relocation programs for Time Warner Cable. Maggie was a panelist speaking about global mobility and Jason was there to provide support and additional insights based on his experiences. Later, when I was asked to author this blog, I immediately thought of Maggie and Jason because they are both so engaging and they make it a point to stay on top of domestic and global relocation issues and trends.

Is the GBO Making a Comeback?

Don't PanicYou swore them off four years ago. “Never again,” you said.

Never say never.

The tables are turning and the Guaranteed Buyout is making a comeback beyond the most senior executives.  It’s hard to imagine now but, before the recession, the GBO was common in many organizations. Back then, employees were concerned that the historic data used to determine price didn’t account for the appreciation that was driving values higher…almost daily.  It wasn’t a big problem, however, because most houses sold quickly and at prices that were higher than the appraised offer. At the end of the day, everyone was happy. Sigh…we didn’t know how lucky we all were.

Three Issues to Tackle to Make the Relocation Decision Easier for Transferees

Make the Relocation Decision Easier on TransfereesWhen it comes to relocation, I think we all want the same thing: an employee that is happy, focused and engaged in their work at the new location. With the ever changing relocation environment and a less than ideal economy, however, many companies have made major cuts to policies offered to transferring employees. In addition to corporate changes, the same issues have led employees to evaluate relocation opportunities even more carefully than they have in the past. So, the question is, how can you design relocation policies to fit your company budget but also attract your necessary talent?

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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RICK CALANNI
VP of Business Development Northeast Region

 

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