What is a relocation policy?
The term relocation policy or relocation package refers to both the specific financial benefits an employee receives to offset the cost of their move and the logistical assistance provided to them. These benefits are often broken down into specific categories.
How do I ask for a relocation policy?
Just Ask the Question If so, thats easy: request a copy of the relocation policy, wee whats covered, and if necessary, start negotiating ingly. If not, thank them, consider the offerand if youre interested, askdirectly and courteouslyif relocation benefits can be included.
How do I ask for a relocation policy?
Just Ask the Question If so, thats easy: request a copy of the relocation policy, wee whats covered, and if necessary, start negotiating ingly. If not, thank them, consider the offerand if youre interested, askdirectly and courteouslyif relocation benefits can be included.
What does a full relocation package include?
A typical relocation package usually covers the costs of moving and storing furnishings, household goods, assistance with selling an existing home, costs incurred with house-hunting, temporary housing, and all travel costs by the employee and family to the new location.
Do you have to pay back relocation?
Stay up to date The most common relocation repayment requires repayment in full if termination of employment is within 12 months after relocation or a prorated amount for up to 2 years. If a move is in process when employment ends, unused benefits typically cease immediately.
What should be included in a relocation policy?
Including packing, moving fees and storage, where applicable. You may wish to include exemptions such as removal of fixtures from old property, purchase of fixtures for new property, assembly/disassembly of furniture and other items, and reimbursement for services performed by the employee or a relative.
What does a full relocation package include?
A typical relocation package usually covers the costs of moving and storing furnishings, household goods, assistance with selling an existing home, costs incurred with house-hunting, temporary housing, and all travel costs by the employee and family to the new location.
What is a typical relocation allowance?
An average relocation package costs between $21,327-$24,913 for a transferee who is a renter and $61,622-$79,429 for a transferee who is a homeowner. Of course, this number is just an average of what larger corporations are spending on employee relocation the relocation amount can be anywhere from $2,000 - $100,000.
