15 September 2010- A
corporate relocation package refers to the compensation package offered to the employees to lure them into relocating to a different city for official purposes. Such packages characteristically include payments as temporary housing allowance, airfare, moving company fees, mileage and other related compensations regarding shifting. Every corporate tries to maintain a decent average relocation package to sustain its quality manpower. Though, a corporate has to ensure a clear cut relocation policy to avoid any kind of ambiguity with the employees.
Following are few pointers which should be taken care of while planning a standard relocation package:
- Have an in-depth knowledge about the relocation packages offered by other companies in the industry. This would not only help the management in structuring the basic package but also making it more lucrative than others by adding clauses which other companies have missed onto.
- Identify the relocation concerning needs of people in top positions. Try to have added advantages in your company's relocation policy as this would attract the best of the best man power. There shouldn't be much scope of relocation package negotiation. Offers can be made lucrative by providing coverage for flying charges of the employee's family members. Special needs can also be taken into care like moving an elderly parent into a hospital near the new location. Such clauses are often missed by companies deliberately to avoid too much of expenses but on a flip side, such add ons can help in attracting the creme-da-la-creme of the industry.
- Every corporate has to financially responsible while making commitments with the employees. It should be made sure that practical commitments are made which can be fulfilled on time. Making a promise to sponsor a moving inventory list is ok but only after being sure of the available financial resources of the company.
- A corporate relocation package should be reviewed annually to know the actual positioning of the package in comparison to the other competitors in the industry. Understand and research about the loop holes in the relocation policy. Consult the top class moving packers or movers and packers services to get quotes and suggestions for the policy.
