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That’s why we build software specifically to help employees manage their lump sum benefits wisely. This includes organizational tools for planning their moves, access to our preferred suppliers, and resources to help them learn about their new city and workplace before they even get there. It even offers content and how-tos geared to interns and entry-level employees.
In addition, our lump sum software gives employees essential financial insight—such as how much things should cost and where they should be spending most of their money. It tracks employee spending, so they always know what they’ve spent, and what they have left. In addition, all employees have complete access to our live relocation consultants. End result: no unpleasant surprises, smooth, well-planned moves, and a much better relocation experience.
4. Our Business Model is Built on Independence
Did you know that traditional RMCs make the bulk of their revenue from referral fees—that is, by steering employees to use certain movers, realtors, mortgage brokers, etc.? Some even share ownership with traditional van lines and real estate networks, all of which are struggling now.
Our business model is different. The majority of our revenue comes from license fees paid by clients using our software, not referral fees paid to us by suppliers. We’re not dependent on other-related businesses for income. We earn our revenues based on our clients’ continued use of our services, and our net client retention rate is 112%.
In addition, we continue to develop new innovations. For example, we recently launched a Pre-Decision Solution, a stand-alone talent acquisition tool that uses technology to improve the candidate experience, boosting offer acceptance rates.
5. Our Software Saves Employers Money
Businesses love to save money in the best of times. However, in the wake of the COVID-19 downturn, cost-cutting is very likely to become a near-universal business priority.
Well, guess what? Currently, the average savings of an UrbanBound move—versus that of a traditional RMC—exceeds 24%. Imagine cutting your relocation budget by one-fourth simply by changing providers and still giving the employee a great experience!
Here’s another compelling statistic: clients who use our software see their employees’ moves come in under budget a full 94% of the time—and that money goes right back into their budget for future relocations. By switching to UrbanBound and perhaps updating your policies (hint: see managed budget, above!), you can cut your relocation program costs, without compromising quality or service.
On the subject of service: some people are still under the impression that saving money—or using technology—means skimping on customer service. That is simply not the case. UrbanBound offers the same “white glove” service levels offered by traditional companies. (In fact, we also offer fully-supported relocations, although we find that even senior executives prefer to use a mix of live personal support and online relocation planning.)
The proof is in the ratings: UrbanBound currently holds an employee satisfaction score of 4.6 out of 5 stars—while earning an industry-leading net promoter score of 71. By all means, see what our clients say about us.
The relocation management landscape was changing before COVID-19, and now, it’s changing even more rapidly. As a result, forward-thinking employers are looking for a more modern, more affordable, less-laborious approach to relocation. If you are one of them, by all means, let’s talk.