Key Inclusions for Executive Relocation Package That Attracts top Performers

Key inclusions for executive relocation package that attracts top performers!!!

Companies spend their higher investment in hiring the talented professionals at the executive position but for the expansion of their business, when there is a requirement to relocate professionals then organizations have to customize the best relocation policy to keep it appealing to the top performers of the organization and to make them ready to move. 

Organizations provide these employees all the required benefits to move and help them in the entire moving process. Here are some key inclusions that the expert movers at suggest that every relocation policy must have.

Knowing the common concerns is important 

First of all, an organization should look at the concerns which are common for both. You should know what you will be going to ask professionals when you ask them to move for a job. You should have a good plan to make them get agreed to move.

Remember that you are not asking them just for a week to move but you are asking them to relocate for a longer duration of time even for permanent, therefore, you should know their concerns like they have to leave their family or whether they like to move with their family leaving their connections at the neighborhood and friends also. 

You should know what benefits you should offer them. There are certain concerns which are same for all such as they have to pack all the essential items, have to transport these to the new location and have to find a new school for kids and a new home and so on. So there are certain things that are included in all the relocation package. 

Things included in the general relocation package: 

  • Movers cost: The most important cost that the relocation policy contains is the mover’s cost. If an employee wants to hire a moving company to shift all his belongings to the area of his work, he can utilize this particular amount. Hiring a moving company reduces the workload of the employee as all packing, unpacking, and all the moving-related tasks are done by the movers.
  • Transportation cost: Relocation policy is drafted by keeping in mind the transportation expenses that one might have to bear when shifting from his home town to the new place where the company desires to shift him. Transportation cost includes things such as the petrol expenses, rent of the truck, wages being paid to the driver, etc. These are generally paid by the companies to make their employees agree to move. 
  • Shipping expensesIf the recruited employee owns any automobile and wants to transport it along with him to his new workplace, then the money for shipping the automobile is also added. Shipping expenses are generally paid according to the size and weight of a particular vehicle.
  • Trips for the hunting of the house: Some organizations also provide the relocation benefits, holding expenses for the trips that are to be made to hunt down a furnished apartment, before relocating to the new place.
  • Support for spouse and children: If an employee wants to shift along-with his or her entire family, then an adequate amount to support the family is added to the relocation policy. If the spouse of the employee has to quit his or her job or their children have to drop out from the existing school then this money acts as compensation for his or her family.
  • Miscellaneous expenses: Apart from all these expenses, some more costs are also added in the relocation policy of an employee depending upon his requirements, such as license fee, lease-breaking expenses, the cost for cleaning services, etc.

Some additional benefits that have been provided to the employees working at the executive level are: 

  • Temporary housing: In case, if an employee is not able to find a home then the organization provides him temporary housing for a shorter or required duration at the new place. The home hunting process as well as the rent of the house has been paid by the organization itself. 
  • Expenditure in selling a property: At the current place, usually employees have their property which they require to sell. To sell a property, an employee has to pay the lease amount and other expenses like real agent expenses and so on. In certain cases, organizations pay all these costs on behalf of the employee and an employee doesn’t have to worry about these hidden costs come with a permanent relocation. 
  • Spousal employment assistance: In certain companies, spousal assistance has been provided to the employee because the spouse has to leave his/her job too. Therefore, the company provides compensation by giving a job to the spouse of the employee working at the executive level. 

Wrapping it all up

A company tries its best to keep its employees especially those who are top performers and working at the top level because hiring the talent of that level is not easy. All organizations create the relocation policies in a way that employees do not find it difficult to choose in between leaving a job or relocating. They can take their decision in a second with all the facilities that a company offers them.

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