Is your company moving its offices to a new country? Perhaps you have finally landed the job or promotion of your dreams but you will need to relocate to take it? If this is you, then you are probably experiencing many mixed emotions.
You will have to say goodbye to the home you know (which is never easy) and then you’ll be anticipating your new journey with excitement and just a touch of trepidation. You will also have a plethora of questions to ask as you prepare for this unfamiliar chapter in your life – especially if this is the first time you are making a big move. And that’s where AltoVita can step in and help.
Here we will provide advice and information so that you can settle into your new surroundings easily. We’ll bring you a sigh of relief as we answer your questions and point you in the right direction. We can also assist individuals, mobility agents, and relocation companies by offering verified accommodation options and destination services that will help you settle into a new city or town.
What Is A Relocation Package?
Starting with the basics, let take a quick look at what a relocation package is, exactly.
When a company moves or offers an employee long-term employment in a location that’s more than 50 miles from their current work location, then the employee may qualify for a relocation package. This package typically covers a person’s moving and other work-related expenses (within reason).
You get relocation packages for senior management but some companies offer packages to workers from all levels. For example, Microsoft employee relocation benefits are offered to both mid-level management up to senior directors.
A well-developed relocation package is intended to offer the recipient peace of mind and it’s also used as an incentive to make the move or job offer more enticing. To add, it also reflects positively on the company’s reputation for attracting top talent.
What’s A Good Relocation Package?
Relocation packages vary from company to company. Packages can also differ within a company and are developed according to an employee’s status. At the very least, however, a good relocation package should provide the following:
– The hiring of professional packers and movers (for long-term or permanent relocation)
– The moving of boxes and furniture (this will generally only apply if the relocation is permanent)
– Flight tickets and transportation fees
– Temporary or semi-temporary accommodation (or a housing allowance)
Additional benefits can include:
– Temporary childcare services
– Language and culture orientation classes
– Private education for children
– Home assistance such as cleaners or chefs
An excellent relocation package is one that leaves room for negotiation or provides options for the recipient to pick and choose from. For example, relocation packages at Amazon are generally developed to provide two options 1.) They will use a third-party relocation service to handle your move or 2.) they will pay-out the cash value of what they were willing to pay and you can arrange the move for yourself (which allows you to budget for what’s unique to your needs when it comes to moving to a new town or country).
When it comes to relocation packages, most companies are willing to negotiate so that both parties are happy. But this leaves one with the question, what should I ask for?
Relocation, What to Ask For?
The key to negotiating a good relocation package is to consider what matters most to you. You want the move to be as seamless as possible and you probably don’t want any drastic changes to your lifestyle.
The first step is to estimate what you think the move is going to cost and then make sure it resonates with what your company is offering. These fees should cover the basics (flights, moving services, transportation, and housing allowance).
Then, consider what additional expenses may arise. For example, do you have kids and will they need to go to school (perhaps you will have to pay high international school fees)? Will your new salary meet your new cost of living (maybe your relocation package can include added benefits to give you more room to breathe salary-wise)? A cash stipend for unforeseen expenses will always come in useful.
Once you know what you need to continue life as is (or better), then you can revise what you have been offered and then negotiate accordingly. You may not get everything you hoped for but there is certainly no harm in asking.
Employee Relocation Benefits?
Many relocation packages typically include a few benefits over and above the essentials. At a high level, employee relocation packages will cover the cost of a move as well as work-related expenses. But, of course, there are also additional nuances that may incur extra expenses and sometimes these are added to an employee’s relocation package as benefits.
Benefits can include:
– House hunting costs
– Assisting with the costs that come with selling a home or breaking a lease agreement
– Help with assimilating employees into their new communities
– Childcare
– Health benefits
As an individual considering emigrating for work, knowing what should be included in a relocation package is of the utmost importance. A company needs to promote “the move” and make it look appealing to the employee whilst ensuring that his or her needs are met.
At the same time, whoever is handling the logistics of the relocation should have access to the best vendors to ensure a hassle-free and cost-effective move. At AltoVita, we have high-quality, temporary housing solutions, whether it is for a matter of weeks or months. All our homes have everything included, from Wi-Fi, utilities to bedlinen and towels, with no binding lease agreements. We cannot negotiate the details of your relocation package for you, but we are here to help you find a home that will make you feel happy and settled in a new city.
ALSO, SEE:
Relocation to Emerging and New Markets: Opportunities & Challenges | Type of Relocations: Combining Lump Sum Relocation and Duty of Care. | 10 Companies with Great Relocation Assistance and Packages
