What is one best practice for relocation policies?
To help you with forming your relocation policies, we asked HR leaders and CEOs this question for their best insights. From supporting as much as you can to providing temporary housing, there are several tips that may help you create your company’s relocation policies.
Here are six best practices to implement in relocation policies:
- Support as Much as You Can
- Consider Cost of Living
- Provide a Lump Sum
- Encourage Employees to Take PTO
- Offer Lease-Breaking Assistance
- Provide Temporary Housing
Support as Much as You Can
The best relocation policy is to be supportive. It takes a lot of courage and effort to relocate. One has to be mentally prepared for this as people tend to get emotionally attached to people where they are residing presently. So, the organization needs to be extra supportive. Try to provide enough time for relocation. Don’t make it a hurry-burry job. Let the employee think about this and make a wise decision. Listen to what other family members have to say in this regard as they also have to move. Few people can find it difficult to get settled in an entirely new location or place. To cope with the stress, provide counseling if required.
Eden Cheng, PeopleFinderFree
Consider Cost of Living
Some organizations value considering cost of living assistance, or COLA, when compiling their relocation practices. You could choose to offer COLA when an employee is relocating to an office where the cost of living is noticeably higher. You can offer this within a lump sum relocation policy that will be determined by other metrics like job level, for example.
Joe Spector, Dutch
Provide a Lump Sum
Provide a lump sum for the employee to use as they see fit for their move. Let them keep anything that they don’t spend. Don’t overburden an employee with forms and deadlines. A relocation is stressful enough so the simpler the expense reimbursement, the better.
Scott Baker, Stage 3 Leadership
Encourage Employees to Take PTO
The hardest thing about moving is feeling settled in a new place. With a new environment, home, and friends, everything can feel unfamiliar and overwhelming. If an employee is relocating, managers should encourage them to take a generous amount of paid time off. To take it a step further, managers should grant employees with extra PTO to help them travel and move-in to their new home. This highlights that your company is caring for employees’ mental wellness, while also supportive of them while they get adjusted to a new city.
Thylan Le, Terkel
Offer Lease-Breaking Assistance
Moving expenses are a good starting point for any company that wants to relocate a new hire, but one of the most helpful services one can offer is lease-breaking assistance. Many landlords are uncompromising about allowing tenants to break their leases early. A housing lease should never be something that dissuades someone from accepting a job, but it does happen. Companies have the deeper pockets to cover the penalty costs associated with breaking a lease. They also can be a powerful ally in case a tenant has to go to the negotiating table with a landlord. They should offer that as part of their relocation package services. It minimizes stress and conflict.
Scott MacDonell, Bambee
Provide Temporary Housing
One solid relocation practice all companies should follow is a minimum of 30 days in free temporary housing. Finding a new house in the current market is a nightmare and apartment-hunting can be equally daunting. Allowing an employee a full month of temporary housing alleviates an incredible amount of stress from that process. Additionally, they will better be able to focus on transitioning into their new position.
Kevin Callahan, Flatline Van Co.
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