What does an employee relocation package consist of
Preparing to relocate for your work means you should discuss your employee relocation package. It is important that they meet your needs and concerns. Here’s a guide to help you learn everything you need about the employee relocation package.
What should the employee relocation package include?
Companies should be able to provide their employees with everything they need to move. Here are some of the things that should be part of the employee relocation package.
- Packing service
- Hiring moving company
- home selling assistance
- Temporary housing
Your relocation package should include a company that offers a packing service. Their job is to help you with all the packing for you so you can focus on other things. They should also pay for an unpacking service later on. This will be helpful once you arrive and settle in the new location. In case you want to be helpful or pack by yourself, here’s a guide to help you pack so you don’t miss anything.
Hiring moving company
Another important thing that should be included in a relocation package is hiring a moving company. They will help you with the transport of your belongings. It can be dangerous transporting everything on your own. You could get hurt or damage some of your possessions. They also offer insurance coverage for your personal items that may become damaged during the moving process. Besides that, if you need temporary storage, they can help you with that one too.
Home selling assistance
Since you are relocating, the company should be able to assist you in the selling of your current home. They can do that through paid advertising or reimbursement fees for any lost profit as a result of quick home sales.
Another useful thing company should include in a relocation package is temporary housing. If an employee has trouble finding a new home, their company should pay for and provide them with temporary housing for a period of 30 days. This allows employees more time to find adequate housing when they get to the location.
Types of employee relocation packages
There are different types of relocation packages. It is up to the company to decide which one is more suitable for them. The most popular ones are the lump slump and reimbursement packages.
Lump slump employee relocation package
This employee relocation package represents an allowance that the company gives to an employee with attention to help them relocate. The employee is responsible for using that allowance to hire a moving service, transportation, and cover other expenses. However, the employee has to decide how to use the amount they receive.
Reimbursement employee relocation package
Reimbursement relocation packages allow employees to pay for all moving expenses. However, their employer will reimburse them after they have relocated. The company should still cover most if not all moving expenses. Employees should remember to keep all receipts to show to their employer so they can be properly reimbursed.
Hopefully this guide on employee relocation package types has been helpful. Good luck with your move!