Companies of various sizes, across all industries, relocate employees domestically and internationally. For some, this can prove difficult as individuals within human resources or procurement departments assume the role of managing the company’s relocation program, sometimes in addition to other responsibilities. Depending on the frequency and complexity of relocation needs, managing this program can easily become overwhelming. If this sounds familiar, here are 12 signs you need to outsource your relocation program to a Relocation Management Company (RMC), and how outsourcing may benefit you.
1.Your new hire is managing their own move. This is probably contradictory to your company’s culture, and does not provide the new hire with a positive first impression of your company. A lack of support during the moving process can result in lost productivity and low morale for the new hire and their entire team. A RMC partner will manage the relocation process for your new hire and ensure your employee is properly taken care of during the household goods move portion of their relocation.
2. You are answering questions about commute times, neighborhoods and schools. Sometimes, you leave the office to give new employees a tour of the town. Outsourcing relocation management relieves administrative burden and allows human resources or procurement teams to focus on their core responsibilities.
3. You spend any amount of time reviewing estimates and setting up vendors for payment. Vendor management can be distracting and time consuming. A RMC partner handles all vendor management for you.
4. You are involved in resolving claims or service issues, or find yourself managing disputes between service providers and your employees. A RMC partner will handle service issue escalation and resolution for you.
5. You spend time sourcing household goods movers, temporary housing facilities or apartment complexes. RMCs have established relationships with service providers and will find the best fit for your relocating employee.
6. You code expenses, pay invoices and report to payroll. A RMC partner will take care of these tasks with a high degree of accuracy and compliance.
7. You do not believe you are getting competitive pricing from service partners. RMCs can leverage their volume to procure better pricing for their clients.
8. Your policy is outdated, or your competitor’s relocation program offers better benefits, and you are losing potential candidates. A RMC partner will benchmark and review your policy, help you update to current industry best practices, and find the right policy type and benefit offerings to match your budget, talent acquisition needs and company culture.
9. Your CFO wants to know how much you spent on relocation last year, what the most common exception requests were and what your projected costs are for next year, but you don’t have relocation financial data readily available. A RMC partner will provide customized reporting with a high degree of accuracy, and give recommendations for budget and policy changes.
10. Your employees are asking about the tax liability of relocation costs and you are not sure how to answer them. RMCs can provide accurate, up-to-date tax law education to stakeholders and employees.
11. You are challenged to find information about best practices, policy models and other relocation topics. A RMC partner acts as a trusted resource for industry information and will guide your program to success.
12. Your company recruiters are trying to figure out which equally qualified candidate will be the least expensive to relocate. A RMC partner can provide accurate cost estimations to help talent acquisition professionals and hiring managers make informed decisions.
Any one of these signs could indicate that outsourcing your relocation program would be beneficial for your company. If you would like to explore what outsourcing relocation may look like for your organization, let’s talk!