Before working with UrbanBound, Cole Haan offered relocating employees a cash bonus, but did not have a fixed policy or a way to track the amount of money they were giving for different relocation needs. They had no visibility into whether an employee was getting too large of a benefit or too small. Additionally, the cash benefit wasn’t grossed up, so employees were only receiving 50-65% of the intended benefit. On top of this, transferees were responsible for navigating the complex process of booking relocation suppliers all on their own.
Cole Haan was looking for a centralized software-based solution that was simple and addressed relocation needs of both internal transfers and new hires. They also wanted to be able to effectively benchmark and report the ROI of their program.
Using UrbanBound’s proprietary benchmarking data, Cole Haan and the UrbanBound team were able to create a competitive relocation policy that provided clarity and structure for relocating employees. Cole Haan now administers its policy and benefits through UrbanBound, helping to connect employees with relocation suppliers as the core benefit and providing a smaller cash benefit to cover miscellaneous expenses specific to the relocating employee’s needs.
The core benefit is delivered through the UrbanBound platform via direct bill, so Cole Haan only pays for the services that a relocating employee actually uses, resulting in notable cost savings per relocation. This program aligns Cole Haan’s needs with a best practices policy and UrbanBound’s relocation software.
