When a job requires an employee to move, many companies provide a relocation
fee. Relocation packages can include a lump sum of money to cover moving
expenses, home purchase assistance, temporary housing and other costs related to
relocating for work. These packages can help attract talented employees and make
them feel valued.
Relocation packages are often part of a larger offer, and it’s important to understand
what they consist of before you negotiate. In addition to the lump sum, the package
may also include other benefits, such as housing or home sale costs and
transportation expenses.
The types of relocation packages offered vary widely and depend on the type of job,
the distance of the move and other factors. For example, some companies may offer
a smaller relocation package for local moves while providing a bigger one for
international relocations. The average lump sum of relocation expenses can range
from $7,200 to $21,327, depending on whether the employee is renting or owning
their home.
Some companies offer a lump-sum amount to cover all the expenses associated with
the move, while others offer a set number of reimbursements for specific items.
Typically, these are broken down into categories like housing, moving, travel and
miscellaneous expenses. In the end, the goal of a relocation package is to ease the
transition to a new location and allow an employee to focus on their job.
Many relocation packages include home purchase assistance, which covers the costs
of a professional to assist with the sale of an employee’s existing home and the
purchase of a new one. This helps reduce the stress of a big change and can be
especially helpful for employees with children.
Temporary housing is another common benefit of relocation packages, and it’s often
based on the length of time that an employee needs to find a permanent home. This
can be 30, 60 or even 90 days of hotel stays, rental homes or other short-term
housing.
In some cases, the umzugsunternehmen may offer a lump-sum amount to buy furniture for the
employee’s new home. While not every employer offers this, it’s worth asking for, as
it can be a huge help.
Some companies also offer cultural assimilation services for employees relocating
abroad. These services can include arranging language and other training, as well as
finding appropriate schools for children. They are often provided as a way to
encourage talent from around the world and promote diversity in the workplace.
While a relocation package isn’t required for all employees, it can be an excellent
way to attract top talent and encourage them to take a risky job in a different city.
The cost of relocating is high, but these packages can cover some of the expenses
and help an employee start their new role successfully. They can also ease the
stress of a major change and give employees peace of mind that their company is
investing in them. Getting the details in writing early is also crucial to ensuring that
both sides are on the same page and that there’s no confusion about what is being
covered.