What Is a Relocation Fee
umzugsvergilch are a form of compensation paid to employees when they are
relocated for work purposes. These are typically a part of the overall relocation
package for an employee that includes expenses such as moving, housing and
shipping costs. Relocation packages are typically provided to high-level executives
and directors, but as the global economy has grown and more younger employees
have become accustomed to traveling for work, smart companies have begun
offering these types of incentives to attract talent and keep key employees.
Generally speaking, most relocation packages will cover the cost of professional
movers, packing and unpacking services and other moving-related expenses like
boxes and tape. It will also include the expense of transporting and storing
household goods. In many cases, the relocation fee will also reimburse the employee
for travel to their new location. This may include reimbursing the cost of mileage or
airfare, or it could involve a flat rate per person depending on the size of the family
being moved and the distance to their new destination.
In addition, some relocation packages will include short-term housing, either in the
form of an extended stay rental or a temporary apartment. These are designed to
provide some comfort and convenience during the transition between homes and
often include a cleaning service. Depending on the nature of the position being filled,
a relocation package will sometimes include child care assistance and help finding
schooling options for children.
For those moving internationally, some relocation packages will even offer language
and cultural assimilation assistance. This is an extremely useful benefit to offer as it
can be difficult for relocating employees and their families to adjust to a foreign
Other expenses covered by relocation packages can include mortgage or renter’s
insurance, closing costs for selling a home, real estate commissions and other
similar fees. Some relocation policies will even include a financial incentive to
encourage fast and effective house sales or purchases.
In the case of an international move, some relocation packages will also provide
support to assist the employee and their family in obtaining spousal work visas or
transferring children to new schools in the country. These are additional benefits
that can make a big difference for relocating families and they should not be
overlooked by any company that is serious about hiring top talent.
Relocation fees are usually a part of an overall relocation policy that is set by the
organization and negotiated during the employment process. It is important to
establish a clear relocation policy and provide it to relocating employees early on so
that there are no surprises when it comes time for them to move and begin working
at their new location. In Asanify HRMS, a relocation policy can be stored within Team
documents so that it is easy to find for employees and accessible when needed. This
way, employees do not have to worry about trying to locate a copy of the policy and
can focus on getting up to speed quickly when they start their new role.