Relocation companies usually help employees move from one state or area to another.
Businesses usually hire relocation specialists as a perk to attract the top talent.
Relocation companies help people move, sell their current home, and find a new home.
Moving can be a hassle. So when it’s time for you to move, it’s often worth it to pay for the services of a professional moving company. But what if you need help with more than packing your belongings and shipping them to a new location?
If you’re moving due to employment and need assistance selling your current home and finding another in your new area, it’s time to talk with your employer about corporate relocation services. Let’s take a look at the types of services a relocation company provides and how to find a reputable company.
What Is Corporate Relocation?
When your existing job changes location or you start a new job at a company in a different city, the company might pay for you to move—this is called corporate relocation. This service is usually paid out as a flat rate or as a reimbursement for moving costs, and it’s considered part of your employee benefits package. In some cases, the employer works with a relocation company that handles all the details, and then your new company foots the final bill. The goal is to help employees transition as smoothly as possible to their new location, particularly when it requires a cross-country move.
What Are Corporate Relocation Services?
Corporate relocation happens when businesses hire relocation companies to assist with moving their employees to new areas. Companies hire these services to ensure their employees can relocate as seamlessly as possible, ensuring they can begin work sooner rather than later. Some corporate relocation services only handle moving-related expenses, but others offer additional tasks like cultural training, childcare, and more. Some relocation services even specialize in international moves, while others are strictly domestic.
Typically, companies offer one of the following packages for relocation services:
Lump sum: The employer offers a flat rate to cover moving expenses, and employees are free to use the funds as needed.
Fully-covered relocation: The employer covers all relocation costs, and provides a corporate relocation service for assistance with the moving process, such as temporary housing. These types of packages are typically reserved for high-level executives and employees.
Managed budget: This package provides the employee with a flat rate for moving expenses and some assistance from relocation specialists.
What Can You Expect From a Corporate Relocation Service?
Relocation companies can help clients with various stages of the moving process, from selling their current home to hiring movers. However, every relocation company offers different service packages, so be sure to review your agreement to determine what’s included.
Relocation companies will help with selling your current home, which is usually one of the biggest hassles when it comes to moving. Your relocation specialist will take care of all of the details of listing the home, pricing it, and marketing it.
Help Finding a New Home
In addition to helping you sell your home, they'll also help you find a new one that fits your family’s needs. They can research homes on the market in the city near your new office and find a range of options in your price range.
Hiring a Moving Team
Finding, vetting, and hiring a moving company can be time-consuming, so relocation companies will help you by coordinating with a moving company to both pack and ship your belongings.
Arranging Temporary Housing
Buying a home is often a slow process, and you may need to relocate before your new home is move-in ready. A relocation company can help by arranging for temporary housing so you have a place to lay your head while you wait to move into your permanent home.
Resources at New Location
Relocation companies can also provide resources to help you thrive in your new city, such as finding a good school for your child, connecting you with essential services, or even helping you obtain proper state or international documentation.
What Costs Do Corporate Relocation Services Cover?
To help employees feel more comfortable in their new city, some corporate relocation services will ease the burden of moving by assisting with these associated costs.
Corporate relocation services will, at the very least, handle the cost of moving. Depending on your company and the service they use, the assistance might also include:
Real estate fees, such as the cost to list and sell your current home and purchase a new one
Childcare and other dependent care
Train or airline tickets
Temporary housing in the new city
Vehicle moving costs
Work permits, visas, and passport fees
Where Can I Find a Reputable Relocation Service?
If you're looking for a well-regarded relocation company, start by talking to a trusted friend, family member, or colleague who recently used similar services. How did they enjoy the experience? Did the company take care of anything they needed?
Another good way to find a local relocation specialist to contact a moving company near you. Not all moving companies offer full relocation services, but you can ask around until you find one that provides the services you need. Keep in mind that your company will likely find and hire a relocation company for you.
Should I Use a Corporate Relocation Service?
If your company is willing to cover all or most of the cost of relocating, these services can make this major life change much easier. It’s essential that you read the fine print of your employer’s corporate relocation package to ensure it will cover the services you need. Before using a relocation service, you should also calculate the full cost of your move to make sure you are requesting enough from your employer.
When considering whether to use corporate relocation services, ask yourself the following questions:
How much time off work will I need for this move?
Will I require child or pet care?
Where will I live while I am looking for new, permanent housing?