Moving is expensive, so companies can help by offering some financial reimbursement for expenses such as moving services, moving insurance or transportation. While some companies provide the funds only after the moving employee files the relevant expense reports, others opt for a single lump sum upfront. But as we've mentioned, in a competitive job market, a smart employer will do whatever it takes to recruit and maintain quality employees. Before signing your employment contract or letter of agreement, carefully read your company manual or human resources guide to see if they offer relocation packages (you should read the manual anyway, of course, as part of assessing whether a job is right for you).
And the company may not offer unsolicited relocation assistance if you don't request it, so again, it's important that you do your due diligence. There is no obligation on the part of the employer to cover the moving expenses of new or current employees. Other expenses that could be included in a relocation package include school relocation assistance for employees' children, temporary storage of household items that cannot be transported immediately, or payment of state driver's license fees. For businesses, covering relocation services can be a smart and cost-effective contracting tactic.
Employers can try to attract candidates by mentioning on job lists that relocation services are available. Today, with a more global economy and a better-educated workforce, competition for talent is stronger than ever; as a result, smart companies are jumping on the bandwagon of relocation benefits. Companies are realizing the fact that having a strong and attractive relocation package makes excellent business and brand sense, and it becomes a reality to be competitive in today's market. If companies discover that they are losing talent, especially as part of a transfer process, a review of their relocation policies and strategies may be undertaken to keep up with the changing face of the modern workforce.
Companies are more willing to help you with the relocation if they think it will be a valuable addition to the team. Some employers often deal with relocating new employees and may put you in touch with their subcontracted companies. Many companies have a standard relocation assistance policy that explains what they will offer and how it works. Shyft combines the logistics management of relocation technology with the personalized service you can only find with concierge companies.
Technology employees in leadership positions are encouraged to move to companies that are not willing to extend generous relocation packages that meet their family's needs. Reimbursement relocation packages allow transferees to pay all moving expenses with the idea that their employer will reimburse them a specific amount of money after the relocation.