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2007-01-30 09:27:00

5 Tips for the Relocation Market

Cathryn Jones

Since I was a Director of Client Services for Prudential Relocation, I have knowledge about the "other side".  Keep in mind:

1.  Each employer sets their own relocation policies/guidelines.  The policy is administered by the relocation company but the employer determines the rules.

2.  All transferrees from an employer may not have the same policy.  For instance, two people being transferred with "company B" may not have the same set of benefits.  It depends upon the employer, the employer's policy and the circumstances ( international move, group move, etc..).   So, just because you knew one person's benefits from "Company B" doesn't mean that
all people from the same company will have the same benefits.  The benefit packages are also updated and change over time.

3.  There are several options an employer can use when relocating an employee.  Some transferees will be extended a buy out option (appraisals and be given an offer) while other transferees may not have that as a benefit. 

4.  As for reimbursable expenses, most employer programs will use the terminology "usual and customary expenses".  For instance, if customary commission is 6%, don't expect the employer/relo company to pay 7% without asking questions.

5.  There are direct billable expenses from a relocation company to an employer.  There are also some expenses that a transferee may receive as a direct reimbursement from his employer.  Keep in mind that if the employer doesn't provide gross up on these reimbursable expenses, there may be a financial implication to the transferee.

All this to say that there are LOTS of variables when you are assisting a transferee.  It is the relocation company's job (as well as the transferee's Human Resources Dept.) to educate the transferee on his individual benefits.

(Cathryn Jones, Assistants For Agents, LLC)

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