UrbanBound Named Most Innovative Company of the Year

Posted by Kinga Ricci on Dec 9, 2016 10:20:29 AM

UrbanBound Innovative AwardWe are proud to announce our most recent recognition by the Best in Biz Awards!

UrbanBound has been named a silver winner for the Most Innovative Company of the Year by the 2016 Best in Biz Awards (our 2nd year in a row.)

The Best in Biz Awards recognize top companies, executives, and products for their business success as judged by established members of the press and industry analysts. The awards celebrate companies that exemplify industry excellence and contribute forward-thinking ideas and solutions.

As one of the Most Innovative Companies of the Year, UrbanBound joins the ranks with many well-recognized brands such as American Express, PayPal, Dell, Dyson, Fidelity, Epson, Experian, Hilton, HP, AT&T, StubHub, UnitedHealthcare, YMCA.

Here’s what the judges had to say about UrbanBound:

"With such a mobile society and employees willing to jump ship at a better career offering, UrbanBound takes the stress out of relocation for both companies and employees," said Mari Edlin, Healthcare Innovation News, joining the Best in Biz Awards panel for the first time. "Its software provides a single portal to streamline the entire relocation process."

The sixth annual program in North America boasted the highest number of submissions to date. More than 600 entries were received this year, from a wide array of public and private companies of all sizes and from a variety of industries and geographic regions in the U.S. and Canada.

"To be recognized on a global scale as one of the Most Innovative Companies of the Year by the Best in Biz Awards is a huge honor for UrbanBound,” shared UrbanBound Co-founders Michael Krasman and Jeff EllmanMichael Krasman, Co-founder and CEO of UrbanBound. “We are dedicated to providing innovative solutions for global mobility professionals and their relocating employees, and it's been extremely fulfilling to watch our software satisfy their needs. Our amazing team is driven to create forward-thinking solutions, and we are all grateful for this honor that reaffirms the belief that our relocation technology is at the cutting edge."

UrbanBound is proud to be acknowledged among such an excellent group of industry leaders, and we are excited to see what the future brings.

“As an innovative company, UrbanBound is leveraging technology that allows employers to offer all relocating employees robust relocation benefits and better forecast and contain relocation costs,” said Jeff Ellman, UrbanBound Co-founder. “Our purpose is to challenge the status quo within the relocation industry, which we are doing quite well. Our vision for the future is that UrbanBound’s technology will provide relocation assistance to any employee who needs it, no matter where in the world they’re moving."

We are grateful for this honor that reaffirms the belief that our relocation technology is providing businesses as well as transferees with a forward-thinking and tech-enabled solution.

About Best in Biz Awards
Now in its sixth year, Best in Biz Awards recognizes companies for their business success as judged by established members of the press and industry analysts. In addition to numerous judges returning from the 2011-2015 judging panels, this year’s panel included several worthy additions to the high-profile group. The panel included AdWeek, Associated Press, CNET, Entrepreneur, Forbes, Healthcare Innovation News, Inc., Information Week, Wall Street Journal, Fast Company, ABC, Bloomberg Businessweek, and Wired. Best in Biz Awards honors are currently conferred in two separate programs: North America and International, and in more than 60 categories, including company, team, executive, product and PR and media.

 

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Topics: UB News

Key Pieces of Advice for Scaling Your Relocation Program in 2017

Posted by Lauren Decker on Dec 8, 2016 11:28:50 AM

Scaling Your Relocation Program in 2017 Budgets are being finalized, growth plans are in place, and 2016 is wrapping up. 

As your company plans for 2017, you need to ask yourself:

Is your relocation program ready?

If your company has big plans for 2017, you also need to make sure your relocation program can handle them. As you launch new products, extend your geographic reach, and grow employee headcount, you’ll inevitably be relocating more people.

To hit company goals, your relocation program needs to be able to support your growth by helping you recruit and relocate top talent. That means building a competitive, scalable relocation program that doesn’t cost your company a fortune to administer.

Let’s take a look at three ways you can start to scale your program and get 2017 off to a great start!

1. Create Consistency within Policies

Whether you’re planning to relocate a couple employees over the next year or a couple hundred employees over the next year, you need to have a relocation policy in place to provide structure to your employees and internal teams.

Offering relocation benefits on a case-by-case basis is a huge roadblock to creating a scalable program. Internal teams and hiring managers are left to decide what benefits to offer, costs can easily get out of control, and monitoring the success of the program is nearly impossible. Not to mention, different employees receive different benefits without a clear understanding of why can be perceived as inequitable by employees.

Even if you’re only relocating a handful of employees today, it’s better to create a relocation policy early to prepare for an increase of moves. If you wait until you need you reach a volume that you believe merits a policy, you may find yourself scrambling to pull together a policy with numerous moves just around the corner. Creating a relocation policy now (as opposed to right before absolutely necessary) allows you to standardize the administration of benefits and create a benchmark for future relocations. As your company grows and more diverse populations are relocated, such as executives and interns, you can scale your policy up or down using tiers. Taking the first step of creating a policy, even a high-level policy, will set your company, and your relocating employees, up for success.

2. Save Time and Costs with Direct Bill Benefits

As you build your relocation policy, consider the internal costs associated with each benefit type: expense reimbursement, cash benefit, and direct bill. Some relocation benefits are more expensive and time-consuming to administer than others.

For example, let’s say you offer up to $5,000 for reimbursement of relocation expenses. For your internal teams, this means specifying which expenses are covered by the benefit, auditing the submitted expenses against this list, and processing the payment. If an expense is submitted that isn’t included in the policy, you’ll find yourself spending extra time trying to get an exception approved or communicating to the employee why the exception will not be granted.

Cash benefits such as lump sums may be easy to administer, but they an still result in unforeseen costs for your company. A cash benefit is considered fully taxable, thus your company must decide how to handle the tax implications. Companies either gross-up the estimated tax liability or withhold taxes on behalf of the employee (resulting in the employee getting the total amount less taxes). As a result, your company either ends up paying more in taxes or your relocating employee only receives a portion of the intended benefit.

Direct bill benefits are a third alternative that offer both time and cost savings for your company. Offering direct bill benefits mean that your company pays suppliers directly for employee relocation services—entirely bypassing the relocating employee. Companies usually work with third parties to facilitate this transaction because of their established direct bill relationships and expertise. The third party handles everything from understanding each employee's unique needs to soliciting quotes and securing suppliers. On top of the time savings, your company can take advantage of tax savings with direct bill benefits. When the employer pays suppliers directly for deductible relocation expenses (i.e. household goods shipment and final move travel), those expenses are considered tax excludable. This results in time and cost savings for your company, making direct bill benefits an attractive option as you grow your relocation program.

3. Drive Efficiency with Technology

Utilizing technology to power your relocation program creates efficiency that can’t be achieved or replicated by people. While it’s important to ensure relocating employees have a person they can reach out to for help throughout their relocation, there’s also an opportunity to automate a number of relocation tasks.

Here’s the good news: you don’t have to sacrifice employee experience to achieve efficiency through technology. Many employees today want access to online, self serve tools to manage their relocations. In fact, they expect it because it’s how they manage nearly every other part of their lives.

For your internal teams administering relocation benefits, technology can save valuable time while providing more insight into your relocation program than ever before. Bringing key processes online, like initiating benefits, signing documents, and distributing information to employees, cuts down on small back and forth tasks that can add up to a large amount of time. Freeing up this time allows your teams to spend time on more valuable tasks. And, by bringing relocations online your team will gain increased visibility into employee progress and relocation spend—enabling them to analyze data faster and make educated decisions about the future of your program.

If 2017 is the year of growth for your company, make sure your relocation program is ready to meet those growth needs. If you don’t have guidelines or policies in place, consider implementing them before your company starts relocating several employees. Even if you do have a policy, evaluate your current benefits and the cost of administering them.

Scaling doesn’t just mean executing more moves, it means executing them in an efficient, cost-effective fashion. And, finally, don’t underestimate the value technology can add to your program. It not only helps drive efficiency, but it’s become a necessary component for employees executing their move. With these components in place, you can be sure to get 2017 off to a fast start!

trends in relocation

 

Topics: Relocation Policy

HR Tech and Relocation: In the News

Posted by Kinga Ricci on Dec 7, 2016 11:26:37 AM

hr tech and relocationWe're back with some of the top news from HR Tech and relocation in the past week!

It was a busy week in the wonderful world of HR and relocation, so we did you a favor and gathered some of the most noteworthy news and compiled it for you in one place.

Make sure to check out an article that UrbanBound contributed to: Reevaluating the job relocation package: Make sure it’s legal

Read on to find out what’s top of mind this week for HR and Global Mobility Professionals:

The Numbers Behind Employee Relocation

In their December issue, MOBILITY Magazine features The Numbers from the “Workforce Mobility Game Changers 2016 Survey.” As the year winds up, it’s imperative to see how our industry is changing and to feel the pulse of what’s been happening.

Let’s take a peek at some of the results from the survey:

Industries that predict mobility volume will increase:

Pharmaceuticals and medical-related organizations — 73%

Financial services — 58%

Technology — 56%

The most important factors impacting mobility within your organization:

Organizational change — 57%

Talent shortage — 57%

Expanding into new markets (or reduction) — 35%

Check out the full list and all the results in MOBILITY Magazine’s monthly feature The Numbers.

Employee Performance Reviews: The Tech You Need

We keep hearing that the performance review process is broken. Waiting a year to analyze and communicate with an employee about their performance, work output, and general overview of how they are doing feels stale in the tech-enabled, instant communication world we live (and work) in currently.

But what can be done to make the process better?

Enter Zugata — according to their press release , Zugata collects continuous feedback from the people employees work with the most and Zugata's recommendation engine, an industry first, delivers personal development resources to empower employees to develop in order to promote a culture of shared success, learning and empowerment.

"Zugata is at the forefront of a paradigm shift in HR away from the inefficient ritual of annual reviews to continuous feedback and coaching, which is proven to be a much more effective way to impact employee performance and groom future talent. The Zugata platform is the closest thing we've seen to automated performance management and employee development -- we're excited to see the company scale to address the critical challenges organizations face in building the workforce they need to be competitive both today and years from now,” said Canaan Partners General Partner Hrach Simonian in the press release.

"Performance Management is in many aspects broken and so Talent Management does not work properly. Enterprises are desperate to create a high performance culture, one person at a time," said Holger Mueller, Principal Analyst & VP at Constellation Research, Inc in the press release. "Solutions that take advantage of cloud economics in the form of Big Data and Machine Learning to allow for the collection of feedback across daily interactions, thus achieving a more complete performance footprint of people through high frequency, lightweight and anonymous feedback, will get the most attention."

Looking for more? Don’t worry — we've got you covered! Check out these additional articles:

Move On Up: A Recruiting Playbook for Corporate Relocation. [Recruiting Daily]

It's getting a lot more expensive to hire from abroad [Management Today]

Breaching The Big Data Barrier : Moving HR Towards Analytics [HR Tech Weekly]

Immigration Compliance & Reputational Risk [Lexology]

15 HR And People Analytics Experts To Follow For 2017 [Jibe]

Lost in translation at the international workplace [Human Resources Online]

Key tactics for success in global workforce mobility [Human Resources Online]

The 2016 Lexicon-FEM Global Mobility Housing Study [FEM]

Digital Marketing 101: A Primer For Corporate Recruiters [ERE]

What HR Will Be Dealing With In 2017 [TLNT]

 

trends in relocation

 

Topics: HR Tech and Relocation News

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