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Pit Crews and Policies

I originally wanted to name this post, “Everything I learned about Mobility, I learned from NASCAR,” but it was so cliché and I’ve learned so much more from my career in mobility to devalue the experience. But, I thought it would be a “fun read” to look back on my former experience in motorsports marketing to compare some common traits about the sport and the mobility industry.

HR Interview: Global Mobility

Frank Schuitema is the Director of Global Compensation for International Flavors & Fragrances Inc (IFF) in New York, New York. IFF is a leading global creator of flavors and fragrances used in a wide variety of consumer productsFrank Schuitema to millions of customers globally on a daily basis. Frank is responsible for the design, implementation, planning and administration of all non-executive compensation programs including job evaluation, benchmarking, market reviews, salary structure and variable pay and the administration of executive compensation programs. He also oversees the management of the global mobility program for IFF.

Expert Interview: Temporary Corporate Housing

Everybody within the relocation industry knows that temporary corporate housing plays a major role in transferee Kelly Reganexperience. Finding a new home at destination isn’t always a cake walk and for many, temporary housing is a vital benefit. A couple of weeks ago, I had the privilege of picking the brain of Kelly Regan, Executive VP of GO Furnished Housing. It’s so valuable to gain insight from our trusted vendor network here at XONEX and I knew that her experience in the corporate housing world would be valuable to not only those on the RMC side, but also those of you in HR and procurement.

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.

No More HUD-1? It’s Time to Review Your Relocation Policies

This week, we want to take some time to alert our readers of an upcoming document change that will be affecting transferees who sell (and buy) a home as part of the relocation process. Effective August 1, 2015, all lenders will be required to use the Closing Disclosure Form.  This form replaces the HUD-1 that has been used for home sale and home purchase lending transactions.  If any of your relocation policies reference the HUD-1, the wording should be changed to the Closing Disclosure Form.

Key Performance Indicators for Relocation Programs

Not long ago, we released a whitepaper titled, “How to Talk to Your CFO about Relocation.” One of the things we stressed in the piece was the important of honesty – especially when it comes to home inventory costs and risks. We also stressed that strategic HR and relocation managers should be ready to talk numbers. It’s easy to shy away from providing cost estimates to your CFO because you either don’t have them or you don’t want to dissuade buy-in due the expense. This tactic, however, is a sure fire way to breed mistrust. Most CFOs do not want surprises.

Four Rules for C-Suite and Senior Executive Relocations

So, you have built your relocation program with multiple relocation policy tiers, addressing the various elements of your organization.  Although there are always the typical exceptions (additional temporary living, home finding trips, storage, etc.), for the most part your program is running smoothly. That is, of course, until you receive a call or meeting request to discuss a senior level executive who is relocating. 

Three Simple Steps for Relocation Benchmarking

Many of our clients like to hear how their costs, policies and specific benefits compare against a client base of similar size and industry. We are often asked by our clients during our quarterly meetings whether their relocation costs are typical and whether the benefits they are providing in their relocation programs are competitive. Benchmarking is always a smart move. Whether benchmarking against best practices or other companies within your industry, it is important to know and understand how your relocation program stacks up.  Further, it demonstrates to senior management that you have done your due diligence and have made informed recommendations and decisions.

Free Whitepaper: Top Five Client Questions for 2014

XONEX Relocation President on Relocation QuestionsI was very pleased when our communications group asked me to provide an introduction to the XONEX white paper titles, “Top Five Burning Client Questions for 2014.” This white paper is all about listening to our clients, and taking careful note of their challenges and day-to-day strategic needs. This is the part of our business that I personally get very involved with because I believe in the knowledge that we can glean from each other and, more importantly, I enjoy the open conversations that happen in the context of good partnership.

How to Build a New Relocation Program

We get a lot of questions from clients and prospects about how to go about building a new relocation program. In fact, there are reasons to build a new program outside of the obvious reason that one does not exist. Companies that are going through a consolidation or merger will at times need a new program, as well as companies that have measured their current program only to find that it is not meeting employee needs. Further, there are many companies who may not need a whole new program, but want to tweak their policies based on exception requests and industry trends. As such, relocation programs should always be seen as works in progress that are updated after a careful review of feedback from transferees, recruiters and hiring managers.  

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RICK CALANNI
VP of Business Development Northeast Region

 

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