Relocation & HR Trends

How to Provide a First-Class Relocation for Lump Sum Recipients Without Breaking the Bank 

Posted by Lauren Decker on Jul 2, 2015 3:56:13 PM

How to Provide a First Class Experience for Lump Sum Recipients

We all know that when it comes to relocation—one size does not fit all. An entry-level new hire relocation will not receive the same benefits as a relocating executive. A family needs more assistance than a single employee, a renter needs different assitance than a homebuyer, an intern has a different set of supplier needs than a full time hire, and the list goes on.

However, even transferees receiving the same benefits will need some customization to their move. Someone moving to a small town will need different assistance than someone moving to a large city with millions of residents.  

Executives and senior level employees will typically have their move tailored to them through a high-touch relocation experience. But what about those who receive a lump sum? After they receive their lump sum, they are usually on their own - with little to no resources to help them navigate the nuances of their relocation. Is there a way for you, the employer, to help tailor their move and improve their experience—without breaking the bank?

The answer is yes! There are affordable ways to provide assistance to your lump sum recipients without spending a fortune.

Just like other relocation populations, lump sum recipients will need different resources based on where they are moving, what their family status is, and what move factors are most important to them.

Relocation Management Software like UrbanBound can help transferees prioritize tasks and organize their to-do list.With UrbanBound, transferees can answer a series of questions that the software uses to create a tailored list of tasks. The questions range from questions like “Are you interested in buying a home”? to more detailed questions like “Do you need to book a rental truck?” The answers also connect the transferee with a list of vetted suppliers for each of their needs.

UrbanBound Relocation Management Software

UrbanBound provides Relocation Management Software that helps transferees organize their move, connect with vetted suppliers, and view educational content about their destination.

Couple this move management tool with educational resources and a supplier network to provide a seemingly high-touch experience, without the high-touch cost. Destination guides and moving tips can go a long way to preparing relocating employees. In fact, millennials tend to prefer content they can read and absorb at their own pace versus someone to walk them through it.  

With any move, a vetted supplier network is important to ensure relocating employees are working with trusted, proven vendors. Providing an array of recommended service providers will discourage transferees from searching for the cheapest option.  

Whether you decide to implement Relocation Management Software or leverage your own supplier network and destination guides, you can impact the move of your lump sum recipients. This moving population often receives the least benefits, but needs the most help. Self-serve solutions are a great way to provide your lump sum population with helpful tools that lead to a great moving experience!

relocation technology

Topics: Lump Sum, Relocation

HR Tech and Relocation in the News: What You Need to Know 

Posted by Kinga Skowronek on Jun 30, 2015 1:30:00 PM

hr tech and relocationLooking for the top news about HR Tech and Relocation?

You’ve come to the right place! UrbanBound’s weekly new roundup gives you all the articles you need to read.

Read on to see what you may have missed this week:

 

Coming Home: Inpats Need Support Too

Many times companies spend a lot of time preparing their employee for their new job assignment and new city, but drop the ball when it comes to helping the employee adjust upon their return.

In the article When U.S. Expats Return From China: Readjusting to American Business Culture The Wall Street Journal reporter interviews Chris Gibson who relates his experience of returning to the US after spending 3 ½ years absorbed in the Chinese work culture and the changes he saw in himself.  

Brian Sumers points out this difference:

“For executives returning from China, settling back into a U.S. office environment can require a serious adjustment. Hours can be shorter in the U.S., and the pace slower. In China, especially the frenetic world of Shanghai, people work long hours to keep up with counterparts in far-off time zones, and they operate at an ultra-fast pace in line with a rapidly developing economy.”

It’s important to provide an equal amount of support for a returning employee who may need help adjusting to the workplace and culture.

 

Health Care Costs Across the World

This week Human Resources Online aggregated results for where countries rank when it comes to insurance costs.

According to Human Resources Online, these are the most expensive countries for health insurance for expats along with hr tech relocationaverage cost:

  1. US – $21,892
  2. Hong Kong – $11,606
  3. Israel – $10,125
  4. China – $10,121
  5. Singapore – $9,784

The cheapest country, according to the article, was Poland at $6,687. The reason for that is because 98% of the population receives full medical coverage.

See the full list in the Human Resources Online article The most expensive countries for health insurance for expats.

 

Investment in HR Tech is Growing Rapidly

With so many new solutions, it should be no surprise that companies are investing more in HR Tech and cloud solutions.

Virtual Strategy Magazine had this to say: Worldwide investment in corporate human resource (HR) technology continues to grow and is doing so at an exponential rate, according to the 2015 HR Service Delivery and Technology Survey, conducted by global professional services company Towers Watson.  

“Modernizing core HR technology is emerging as the primary HR service delivery priority,” Mike DiClaudio, global leader of Towers Watson’s HR Service Delivery practice, said in a statement. “While in the past, companies have mostly invested in secondary technology for talent, compensation and performance management, there has been a dramatic shift to investing in core HR systems. Many organizations are now looking at cloud-based platforms to replace traditional HR platforms. The changing environment will lead companies to take a closer look at their overall HR technology needs.”

“It is somewhat surprising that so many organizations are still using so much paper. Given the robust technology solutions now available to HR departments, we expect the reliance on software and systems to increase while the use of paper will steadily decline over the next several years,” said DiClaudio.

Find out the stats in the full article: Investment in HR Technology Continues to Grow, Towers Watson Survey Finds.

 

Want more articles? Check out these: Tech Insights: How HR Analytic Tools Are Making A Great Leap Forward via TLNT, It's time to stop looking in the wrong place for the wrong people via HR Zone, These are the traits of your future employees via Human Resources Online, HR Roundtable: What Will HR Look Like In 2020? by TLNT and United States: State Department expects visa backlog to be cleared within a week via Forum for Expatriate Management.

 

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Topics: Technology, Relocation, HR

How Obergefell v. Hodges Will Affect Your HR Policies

Posted by Ryne Inman on Jun 30, 2015 10:21:32 AM

The United States Supreme Court most recent term concluded on Monday, and its slate of rulings have majorObergefell v. Hodges will especially reverberate through the industry, and will have a very significant impact on benefits and relocation specifically. implications for the HR world. Obergefell v. Hodges will especially reverberate through the industry, and will have a significant impact on benefits and relocation.

The Court’s decision in Obergefell found that the 14th Amendment to the Constitution does in fact grant marriage rights to same-sex couples in all states. Licenses began being issued immediately after the ruling was announced, and same-sex marriage is now a fundamental right enshrined in constitutional law.

Obviously, this is going to cause a massive shift in benefits policies, even for companies that extended benefits to domestic partners. In recent years, domestic partner benefits were one way that companies appealed to top talent, while also low-key signaling their support for LGBT rights. Now that marriage has spread to all 50 states, many companies will be re-evaluating how these policies fit into their overall benefits spread.

While domestic partner benefits were mostly a selling-point for LGBT employees, many heterosexual couples took advantage of these arrangements as well. For instance, couples who were financially reliant on one another, but not yet married often enrolled in them as long as they could prove the depth of their fiscal connection. Despite this, it seems safe to assume that domestic partner offerings will start to shrink and eventually vanish due to marriage-based benefits becoming the standard across all relationships.

That sound you heard on Friday was every payroll department in the country breathing a sigh of relief and tax accountants weeping for lost business. Standardized benefits for couples in all states mean that companies with employees in a number of states no longer have to consider the additional taxes and complications of varying types of legal arrangements.

In light of this decision, your relocation policies will also need revisiting and fine tuning. Reach out to your LGBT coworkers and look for pain-points unique to them, especially for same-sex traveling spouses. While these will most likely be tweaks rather than total overhauls (assuming that you already had benefits and policies aimed toward filling needs of LGBT employees and their spouses), but it will be incredibly beneficial to hone and sharpen your plans.



Topics: Policy, HR

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