If you are new to learning about the employee relocation industry, you are not alone. In fact, employee relocation services recently made Inc. Magazine’s list of “The 6 Best Industries You’ve Never Heard of.”
In the simplest terms, relocation management companies like WHR Global provide professional services to employees who are being transferred by their employers. Many variables factor into the need to relocate an employee—a promotion to a different branch, opening a new office, or even the movement of an entire headquarters to a new location on the other side of the globe.
So, what are details of the professional relocation process? We’ve broken down the top 4 things a relocation management company does.
1. Out With the Old
Relocation management companies (RMCs) help relocating employees market and sell their current homes. Professional staff working with the “transferee” should be real estate licensed (they are at WHR Global) to help the assigned real estate agent price the home to sell quickly and for maximum value. These staff must follow client-specific policies, as the benefits one company offers its employees may differ from others, such as if an outside buyer must be found or if the company will buy out the home on the employee’s behalf. Relocation policies are designed to relieve transferees of guesswork and function as a roadmap, detailing the steps of relocation start to finish.
2. In With the New
RMCs connect employees with a home-finding agent in the destination location to purchase a home or find rental or temporary living accommodations. It’s the agent’s local knowledge that helps the employee become acclimated to the types of homes they can expect in his or her new location—whether it’s a three-bedroom house in Ohio or a high-rise unit in Singapore. An area tour is usually scheduled to help the employee find the best neighborhood and home to meet his or her needs, in addition to exploring local dining options, entertainment, shopping, transport, and schooling options for the family. An area tour is especially important for those relocating internationally to become familiar with the local “norms” and what to expect as an “expat.”
3. Places in Between
RMCs also help coordinate the physical move of an employee’s household goods from one location to the other. WHR Global works with a global network of household goods carriers as well as auto shippers to move family belongings from A to B—safely, timely, and all over the world.
4. Beyond the Move
Additional services offered by most RMCs include: storage for household goods shipments; expense management and reimbursement; immigration and visa assistance; language and cultural training; local school search assistance; destination spousal/partner career support; compensation management; and tax assistance on all these benefits.