What Is A Relocation Package?
A relocation package is when you are relocating in your job and the company involved is paying to move you. There are a number of things that can be included in a typical relocation package and this article will focus on these as well as providing information on how relocation packages work, how to get one, and when you should ask for one.
What Is Included In A Typical Relocation Package?
A typical relocation package will always include a moving truck. This is a basic component of your relocation package. Relocation packages can also include a number of other things and each company will differ so be sure to find out exactly what is included in your relocation package.
The transfer of vehicles from your old home to your new home is something that many companies include. If childcare is a concern and is something that you will need, most companies will also include a list of day care providers in their relocation packages. If you are moving abroad your relocation package will also include a class or course on what you can expect from your new culture. If you have elderly relatives that also need to be relocated, a list of nursing homes can also be included in your package.
The standard full pack and full unpack services should be included in your typical relocation package and this will include a van being sent to your home to pack all your belongings. They will then be transferred to your new home where they will be unpacked and placed in your chosen locations.
A home finding trip should be included in your relocation package and this should include all costs such as airfare, hotel, meals, and rental car costs. This trip will enable you to find a suitable home, school, etc. for your family. Home buying services and home selling services are often included in a typical relocation package and this includes help with the payment costs and fees for your new home, along with help for the closing costs and commission charges for selling your current home.
If you currently rent your home then your relocation package should include lease break coverage where the company will pay any penalty costs involved with your breaking your leasing agreement. It is wise to ensure that your relocation package also includes miscellaneous costs. These can be used to cover vehicle registration, utility hook ups, and any other unexpected costs.
Property management, spousal job support, and storage are some other factors that you should try to incorporate when negotiating a relocation package. Property management is important if you are taking a short term relocation as you will have a company that will take care of the rent and the upkeep of your home while you are away. There are companies that will also help your spouse to find employment when you relocate too. If your new job is short term you can also have storage included in your relocation package. This is where the company will pay to have your belongings put into storage.
This is just a list of items included in a typical relocation package. To ensure you get everything you need, there are a number of questions that you will need to ask when negotiating a relocation package with the HR of your company.
What Questions Should You Ask
If your company is advertising new posts or you are being interviewed for a new job with a new company that involves relocating, there are a number of questions that you will need to ask. First let’s look at relocating with your existing company; if you are being offered a new position with your existing company that will involve relocating, some of the questions you need to ask include:
*How long will you have to move?
*What is the new job office environment like?
*What the new city or state has to offer your family?
*What is the cost of living in the new location?
If you have children you will also need to ask about schools. Finally, if you are applying for a job with a new company you need to ask about a relocation package during the initial interview process. If there is a relocation package available the same questions will need to be asked.
Negotiating a Relocation Package
When you go to your interview you need to ask your prospective employer whether or not they provide a relocation program. If they do you need to find out as much about it as you can. The benefits that are offered will differ greatly by company so you will need to go through them all and analyze your current situation very carefully. If at all possible, you should try to negotiate your relocation package as part of a transfer package and make sure you do it before you accept the new position. There are a number of things that you need included in your relocation package and these include, that the company takes care of all monthly payments, taxes and insurance on your current home until it is sold.
You should also try to include a clause whereby if you cannot sell your current home in a specified amount of time that the company will buy your house at a specified price. Your relocation package should also include the fact that the company will pay the commissions and any other costs involved. If you have to rent a temporary accommodation until you find a permanent home then the company should also pay for this. There are a number of other things that you will want to negotiate and these are listed at the beginning of this article.
Before accepting any new job offer there is a final checklist that you should go through. You need to take into consideration the overall effects that the move will have on your career. Will this new job be a promotion? Is it a desirable move? Is the new location in the mainstream or backwater? Is the move financially beneficial to you and your family? If the answer to all these questions shows that the relocation is for the better then you should definitely start negotiating a relocation package that will suit you. For more information about relocation package negotiation visit WorkTree™ at:
http://www.worktree.com/tb/SN_relocate.cfm.
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