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Upgrade from a Lump Sum to a Managed Budget Plan
Lump sum plans are popular, with good reason. They’re easy for employers to budget, they offer employees flexibility, and they lower exception requests. Still, they’re not as cost-effective as they could be.
The fact is, managed budget plans offer all of these benefits, too—while providing employers with potential cost-savings of $2,000-$3,000 per move.
Here’s why: with lump sum plans, employees keep any unspent funds to use however they like. With managed budget plans, employers keep those unspent funds instead.
Plus, managed budget plans offer employees moving support, including the services of relocation specialists and access to the provider’s (hopefully discounted) supplier network. That not only saves money but yields superior relocation experiences.
Not ready to give up your lump sum plan? With UB Marketplace, you can keep it, while giving employees access to UrbanBound’s discounted supplier network and relocation specialists, too.
For more about lump sum vs. managed budget plans, watch this quick video.
Switch to a Software-based Relocation Provider
Without question, the single, most effective way to slash relocation costs is by moving to a tech-powered provider. You just can’t beat the cost-efficiencies of technology.
Specifically, tech-based relocation providers have lower labor costs, pay less overhead, and enjoy greater efficiencies—so they can charge clients less and stay profitable.
Need to see some numbers? When employers switch from conventional relocation companies to UrbanBound, they reduce their spending by up to 66% per move. Plus, they give their employees access to slick online tools that make everything easier.
In fact, our clients’ relocations come in under budget 94% of the time.
So, if you truly want to cut relocation costs next year, get up to speed on relocation technology.
Because while some cost increases are unavoidable, relocation isn’t one of them.
Learn more about how UrbanBound’s relocation solution can save you money in 2024 while improving your employees’ relocation experience.