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How to Move Page Relocation Policy

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In today's video, Brian discusses relocation packages, targeting both individuals considering relocation and recruiters involved in offering such packages. The content will be split into two videos: the first focuses on essential facts to understand before considering a relocation package, while the second will cover the specifics of the packages themselves, including how to identify a good offer and which elements may be negotiable. Brian shares that he has relocated around 40 people in the past five years and emphasizes the importance of being informed before making relocation decisions.

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What is common lump sum relocation?

If youre not familiar with the concept, a lump sum relocation typically consists of a single, fixed amount provided to an employee by an employer to move to a destination. Global mobility professionals often view this as a simple way to get employees into a new role quickly.

Is a 5000 relocation package good?

While $5,000 upfront might seem like a generous amount, when you consider everything that goes into the cost of relocating, it may fall short and leave your employees frustrated and paying out of pocket.

What is an acceptable relocation package?

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.

How long should an employer give you to relocate?

Legally speaking, theres no labor law that states how long an employer must give you for relocation. Its up to you and your employer to work it out. Whats a reasonable amount of time to relocate? Typically, employers will give you between 4 weeks from accepting the offer to starting the job.

What is a generous relocation package?

A generous relocation package covers all moving expenses and will give employees ample time to find their new home. ARC Relocation can help with various factors associated with relocation. This includes finding movers to assist with your employees relocation, packing and unpacking services, and vehicle shipping.

What is a good relocation package amount?

The full costs and figures can vary depending on the individual and their package however, as an example, payments are typically between $2,000 and $100,000.

How much is a typical lump sum relocation package?

Of those companies, most companies are providing anywhere from $2,500 to $4,999. If the company was going to cover the entire relocation, theyd offer anywhere from $10,000 - $14,999. So if your company is going to offer you a lump sum, you should expect to see somewhere within that range.

What is employee relocation reimbursement policy?

What is a Relocation Reimbursement? In the case of a relocation reimbursement, this package requires the employee to pay for all of their relocation expenses knowing that the employer will reimburse them a predetermined amount of money after the relocation is complete.

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Move Page Relocation Policy