A lot of questions pop up when it comes to relocation packages. From the employee’s side: what should I expect in a relocation package? What should I ask for?
From the employer’s side: what should I offer in a relocation assistance package? Who should even receive assistance?
Read below for some frequently asked questions of both employers and employees regarding employee relocation packages.
- How can I negotiate the best relocation package for my needs? Most large companies – about 70 percent – offer some type of relocation package for employees who need to pull up stakes and move when arriving at a company. If you’ve been offered a position at a firm that is more than two hours from your current home and aren’t offered relocation services or help with moving costs, ask. (You can’t hear yes if you don’t ask.).
- How can I know how much I’ll need? If you’re just starting out in your professional life, you may just need a few hundred dollars and help in renting a U-Haul. If you have a family, need to sell a house, etc., you may need the help of a real estate agent, the funds to hire a large moving company, and so on. If necessary, call around to movers, etc. to get an idea of costs. You also should understand that a relocation package is considered by your company to be part of your benefits. People often negotiate benefits, so don’t be afraid to do so with a relocation package.
- What types of employees deserve to have a relocation package? According to Allied Van Lines, the average relocation package costs an employer more than $20,000. (The average for small companies is $11,000 and for larger companies it’s $33,000.) Because of the high cost, it’s wise to offer relocation packages to new hires who will be taking on critical positions within your firm. These critical positions needn’t be managers or members of the C-Suite: if you’ve had a hard time finding a computer software engineer and she lives 500 miles away, if may be financially wise to offer her a relocation package to help her make the decision to accept the position and move.
For both Employee and Employer
- What is in a typical relocation package? According to a survey conducted by the moving company Atlas, more than half of all relocation packages included packing all items to be moved, moving one or more cars, moving exercise equipment, and unpacking all items. What’s more, 75 percent of companies also offered relocating employees the benefit of someone to coordinate their move, providing a pre-move visit (so that the employee could check out housing, schools, etc.), rental assistance, assistance in finding the spouse employment, a travel allowance, and storage. The package itself could consist of either a lump-sum payment to cover all costs, full reimbursement, or paying the moving company directly
If you’re moving to the Dallas area – or if new employees are moving here from afar – and you need information on great apartments in the area, check out our apartment search. We are a free apartment locator that helps employees and employers alike find great apartments for singles and families. Contact us today at 972-818-3776 or toll-free at 1-888-846-3456. You also can send us an e-mail message via our online contact form.
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