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Relocation packages offered by employer

Hey guys,

We're looking to bring on several new hires (mostly friends) from out of state. Since we're new at this, we think we'll just give each person a flat bonus and they'll be able to spend it however they want for relocation expenses. Regardless, we're interested in some questions regarding the relocation process and how other companies handle it.

If you, or anyone you know, is/has handled hiring new employees, we'd be interested to know more about the following:

  • What are the benefits you offer employees?
  • How many new hires need to relocate because of their job?
  • Can you describe the relocation package offered to your employees?
  • What is the process for relocating employees?
  • How are the expenses tracked for the relocation process?
  • How much of the relocation cost is covered by the company vs the employee?
  • Do you put them in touch with any moving or relocation service?
  • Do you outsource any parts of this task? (would you? if not, why?)
Thanks for the help!

2 Replies

Jan Sauer
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Jan Sauer Entrepreneur • Advisor
Do > Say | Digital Transformation | Design Thinking | Lean Business Building | Growth | Innovation
Hi Scott, not sure if it has value to you but one of my good friends has helped big and small corporate with end to end corp relocation for a good decade and can surely provide some tips and best practices. I'm copying him on this email. -- Jan Sauer [removed to protect privacy]
Anthony Zeoli
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Anthony Zeoli Entrepreneur • Advisor
Digital Strategy and WordPress Consultant and Trainer
Scott,

Remember that relocation packages, specifically the cost of the move, is considered taxable income for the employee who receives the package. Some companies have a clause that employees sign that says the relo offer is good for 6 months, but if the employee leaves before that, they will have to reimburse the money. As for the different packages that are offered, some relo companies will help you sell your house while giving you an introduction to the new area and work with your partner on a new home purchase while you are at work. It's best to alleviate the pressure on the employee, because if you don't, that person will have jus another thing to worry about and will not be as productive. There are many relo companies. One my wife used to work for is Cartus out of Danbury CT. Best to work with a company and contract them them try to do this yourself.
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