Why Use a Relocation Software Solution?

When it comes to relocation, the HR industry is in the process of transformation, putting choice and flexibility in the hands of employees. Rather than dictating restrictive policies and processes to employees, forward-thinking HR teams are committed to creating new and innovative solutions, so employees consistently enjoy the best possible relocation experience.

In 2020, the number of companies around the world poised to evaluate their legacy mobility policies is skyrocketing. Teams are looking to streamline and simplify policies and programs—while searching for ways to deliver more to employees for a fraction of the cost. Companies desire more support, flexibility, information and guidance, without added administrative costs. This is creating a widespread movement towards UrbanBound.

Historically, the practice of supporting employees while relocating was to provide:

  • Specific, predetermined relocation benefits and services, and 
  • A dedicated consultant to coordinate the entire move. 

This led to expensive, restrictive and administratively-complex programs that sparked countless exceptions. Most companies that continue to operate in this environment are overspending by 60-70% per move. In addition, they have very limited access to real-time relocation data that would allow them to make well-informed decisions.

In an effort to reduce costs and their administrative burden, companies are often turning to lump sum policies. The problem is, these not only result in significant overspending but deliver a consistently-poor relocation experience for employees.

What Employees Want & Expect

The demographics of mobile employees are rapidly changing. The majority of employees relocating today are digital natives who expect software to assist in their relocation. They’re tech dependent and savvy. Without technology, they likely don’t feel fully supported and feel inconvenienced by only having the option to coordinate via the phone. 

They value flexibility, choice, simplicity, technology and offline support when needed—regardless of age, geography or seniority.  (Managed budget policies will align perfectly with this shift in demographics allowing each employee to feel like they had a personalized one-on-one relocation experience based on their unique needs.)

What Mobility Teams Need

Mobility departments are shrinking and continue to have limited internal resources They’re struggling with increasing scale and complexity, while trying to meet the growing demands of business leaders. 

In fact, more than 85% of UrbanBound’s clients don’t have a mobility department.  Relocation continues to be a hot potato that’s owned by an HR leader who raises his or her hand to take on a program that’s often broken (and only gets noticed when things go wrong). 

HR leaders have found that traditional employee relocation packages, managed budget policies and lump sum moves still require significant involvement, whether advising employees, managing exceptions, and coordinating vendors…all while tending to their primary job responsibilities.

The UrbanBound Solution 

We feel that companies have been looking for a middle ground between the rich, expensive benefits provided by the outdated, offline relocation management companies and bare-bones, unsupported lump sum programs.  Many companies want to eliminate the cumbersome, time-consuming layers of manual administration required by their current relocation programs.  

 

Managed Budgets: Choice, Control and Ease

Managed budget solutions allow employers to set a budget for employees to spend on a predefined list of relocation services. Employees use UrbanBound’s technology to manage their budget however it suits them best, with the help and guidance of their personal relocation consultant.

  • Employees can plan out their budget within the UB portal.  
  • Employees can choose to have most expenses directly billed to best-in-class suppliers. 
  • Employees can search for, book and communicate with vetted suppliers through UrbanBound, while claiming reimbursement of expenses within their budget—all from one centralized place. 
  • To prevent overspending, notifications are triggered when costs near the budget maximum.
  • If a move goes over budget, employees can pay the difference out-of-pocket directly to the vetted supplier or seek an exception. 

 

Fully-Managed Moves, with Options

Alternatively, UrbanBound offers fully-managed moves via our relocation consultants. Under this model, UB’s consultant manages the majority of communication and bookings with vendors, similar to traditional relocation management companies.  

However, the key difference is that senior executives can decide how they prefer to be serviced—via online relocation planning, through personal support, or any combination thereof. 

 


Benefits UrbanBound Offers Employers

 

Savings and Transparency 

Regardless of plan design, our software allows HR teams to easily monitor the status of each move and report on how employees are using their budgets. UrbanBound’s solution has led to 94% of employees staying under budget, and all savings go back to the employers. Currently, the average savings per move exceeds 24%, with an employee satisfaction score of 4.8 stars out of 5. 

Less Daily Involvement

Employees need access to trusted, vetted suppliers to deliver a great relocation experience. Otherwise, hours of employees’ time can be wasted crawling the internet, reading reviews and comparing quotes. This often leads to unwanted stress and confusion, which translates to hiring managers and mobility teams deluged in emails and phone calls asking for help.

Fewer Reimbursement Headaches

In addition, paying vendor invoices and expense reimbursements around the world in different currencies and jurisdictions is very challenging for employers. UrbanBound is able to make these payments directly in a wide range of currencies, alleviating the administrative and cash flow burden for all involved. 



Human Resources Today