Employee relocation is a program used by many companies that have multiple branches throughout the United States or in other countries. The employee relocation process involves coordinating the move along with setting up the employee in his or her new position. Employee relocation can also involve the reimbursement of fees associated with relocating the employee and his or her family members. To assist the human resources department, many businesses choose to hire companies that provide employee relocation services.
Employee relocation services
Employee relocation services are a series of services provided by a company to assist with a move. This may include mortgage arrangement, car rentals, coordinating moving trucks and providing a company with cost reports.
The human resources department will handle the tasks involved with relocating an employee to a different location. HR teams typically take on all of the roles of relocation unless the company decides to outsource to an employee relocation services company.
Home buying relates to the buyout of the employee's home as well as securing the employee a new residence as part of the employee relocation package. Buyout programs can help speed up the process since the relocation will not have to be put on hold until the employee sells the home.
Employee relocation costs
Another major key term for job relocation is employee relocation costs. Employee relocation costs are the charges associated with the process of moving the employee to the new job site. Job relocation costs can include home reimbursement, transportation costs and moving expenses.
Instead of purchasing real estate, renting out corporate housing is another alternative. Corporate housing sites are temporary solutions, and will often have many of the same amenities as a hotel.
Negotiation relocation package
An employee and employer will need to negotiate the terms of the relocation prior to finalizing the deal. The negotiation relocation package will include both compensation and reimbursement for expenses.