Since 1994, WHR has been helping its clients contain costs and lower relocation program expenses. Although there are many ways, below we share just three easy suggestions to lower organizational expenses. Explore three practical tips, from auditing your program to monitoring exceptions and staying ahead of industry trends. Discover how tailoring your approach to real-life experiences can minimize expenses while ensuring a smooth relocation for your employees.
1. Audit Your Relocation Program
¿Refleja su programa las experiencias reales de los empleados que se trasladan? Repase cada paso del proceso de reubicación y analice los datos cuantitativos y cualitativos. Mira las cifras de las mudanzas anteriores, pero también encuesta a los empleados que pasaron por el proceso de reubicación y descubre qué beneficios fueron realmente significativos para ellos.
It’s often said that relocating is the 3rd most stressful experience in a person’s lifetime, just after death and divorce. While it’s critical for employees to have a suite of relocation services to choose from, your company may not be in the financial position to provide certain ancillary benefits. It may be helpful for your global mobility team to stack rank which benefits are most critical to your employees, with the intention of cutting the least-critical services.
Here is a sample stack ranking from most to least-important:
-
-
- Inmigración
- Tax Consultation/Preparation Assistance
- Tax Gross Up Assistance
- Reimbursement of Final Move Expenses
- Household Goods Shipment
- Temporary Housing…
- …Language Lessons
- Cultural Training
-
2. Monitor Policy Exceptions
Cuando surgen imprevistos durante un traslado, puede estar seguro de que repercutirán en la logística del resto del proceso. Estas excepciones se traducen en mayores costes. El primer paso para minimizar las excepciones y el impacto en su cuenta de resultados es diseñar un programa de reubicación meditado y basado en datos. Cuanto más refleje su programa las experiencias reales de sus empleados trasladados, mejor podrá planificar las excepciones. La ejecución del programa es igualmente importante.
WHR trains our Relocation Counselors to anticipate needs before they are requested, set expectations upfront, and regularly check in with transferees throughout the move. Should an exception be required, our Counselors review all possible alternatives first. Can a closing date be moved? Is there a more cost-efficient storage alternative? Can the cost be covered by a miscellaneous allowance?
3. Stay on Top of Trends
To find relocation cost savings, look at the dollars…and the pennies! With a little creativity and by staying current on what’s happening in the industry, you’d be surprised at the cost savings you can find.
Consider home sale bonuses, for example. Ten years ago, companies would offer employees $10,000 as motivation to sell their homes quickly. This is not required in today’s real estate market since homes are selling quickly as demand greatly outweighs the supply of available inventory.
Your Relocation Management Company can provide you with Benchmark studies and reporting identifying gaps or redundancies in your policy, as well as opportunities for savings.
Aunque una prestación por traslado es una inversión importante, hay formas de aplicarla cuidadosamente de manera que sus empleados estén contentos y se minimicen los costes. Adaptar el programa a las experiencias reales de los empleados que se trasladan, controlar las excepciones y estar al tanto de las tendencias del sector garantiza una experiencia de traslado más fluida para los empleados y ayuda a mantener los gastos bajos.
If you’re interested in learning more ways to cut costs, contact WHR Global.
