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3. Offer Relocation Support…as Needed
When it comes to relocation, some employees want more support than others. The best way to offer a great support experience is to let each employee call the shots.
With traditional relocation providers, consultants are involved in every step of the process, which can result in frustrating, back-and-forth communications. On the other hand, some lump sum plans offer no support at all, leaving employees to figure everything out on their own. Neither is a positive experience.
The best solution: use a relocation provider that matches each employee to a dedicated relocation specialist—and give them the freedom to use them as much or as little as they like.
4. Only Use Vetted Suppliers
In some situations, your choice of service provider won’t make much difference. Relocation isn’t one of them.
Movers, realtors, mortgage companies—one bad choice can implode the entire relocation experience. Case in point: the moving company that damages an employee’s furniture, doesn’t show up on schedule, or tacks surprise fees onto their invoice.
How do you avoid this? By choosing a relocation company that pre-screens service providers for quality—and then monitors their ongoing performance. This allows you to offer your employees a network of dependable, top-performing providers, vastly reducing the risk of relocation horror stories.
5. Pay Employees’ Tax Gross-ups
As an employer, you know that your employees’ relocation benefits are subject to income tax. But unless they’ve relocated in the last few years, this will likely be news to them. And not the good kind!
Most employers cover these costs by grossing up their relocation benefits—aka, through tax gross ups. Chances are, you already do so. If so, yeah you!
Because while paying tax gross-ups may not appreciably enhance an employee’s relocation experience, getting slapped with a big, unexpected tax bill will certainly detract from it, undoing all the good you’re trying to accomplish.
At the end of the day, a smooth, stress-free relocation experience is a surefire way to get your new hires and transferees off to a fabulous start. And if you’re looking for a partner to boost your RE, start a chat with the team at UB.