RELOCATION - The Why's, How's, Wherefore's and More...
Due to the increasing number of positions available in areas where you don't reside...more and more people are Relocating. Here is some information you should find useful.
First Check Out your company's Relocation Package, or if you are using a Personnel Service, ask them about their Client's Relocation Packages.
Some larger organizations utilize third party relocation firms, they are contracted through an annual contract. They can provide you with Real Estate Agents to show you homes for sale, leased homes, and apartments based upon your individual or family requirements.
They provide Realtors whom have been approved by a corporate policy. This is an added advantage to you, eliminating the brokers who only want to show you what they want to, in order to earn high commissions.
Most Travel Companies will provide you and/or your spouse (if applicable) with a Inspection Tour. The company will pick up the expenses of airfare, hotel accommodations, and sometimes car rentals. The company is more likely to do this if they have a pre-arranged relationship with a Realtor, so that they know you (hopefully) won't require an additional trip.
Relocating can be one of the most stressful items you can encompass, especially if it is not handled properly through professionals.
To err is human...
Based on our experience, in coordinating thousands of relocations,
we notice people sometimes make a quick decision, or a wrong
because they have not sought the professional to assist them. For example, you are relocating from the South to the Mid-West!!! You always said if you ever bought another house, or moved locations, this house will have it all...it must have lots of acreage for the dogs to run! This was the case of someone we placed last year...they found the "perfect" house, and with the assistance of their new employer, closed on it in 2 weeks, and moved in. It could have worked out well...they loved the home...they just didn't love the cold weather!!! Our suggestion is to lease or rent a home or an apartment. Get to know the neighborhood, the terrain, the weather, etc. Since buying a home is usually the biggest expense you will make, you really need to plan your future properly.
One gentleman we know has moved as many as 5 times in the last 12 years. He has 3 kids, and always buys versus rents or leases. Sometimes he actually has made money on selling, but the hassles based upon what the market is like, will usually put a strain on the new job you want to accept.
Relocation is complicated, but the situation can be eased by dealing with your future Human Resources Department, Finance and Legal Departments, and it will allow advance dealings with mortgage companies and banks.
You need a professional to acquaint you with the local school system if you have children...are you going the public or private school route? What are the costs involved? What is the transportation like to and from school.
The Internet helpful or not... Today, via the Internet you can get a lot of information concerning Cost of Living by City, Salaries, and much more...You must however not use the Internet as all gospel. Recently, one candidate told us that she couldn't accept the new job because the tax structure was different by 2%. This person was offered a position which provided her with a 30% increase in salary. One person read on the Internet that car insurance was higher by over $3,000.00. When we called local insurance brokers in the city of choice we found out the Internet information was quite wrong, wrong buy $2,500.00!!!
You must utilize more than one source of research. You must be willing to do your homework in advance.
Dependent on your salary level, Executive Relocation can provide
you with not just the standards of shipping household goods, but
packing and un- packing services, temporary housing, house hunting
trips with real estate assistance (as mentioned above). Some
companies will even provide your spouse with job opportunities in the
community. Quality child care recommendations as well.
Another great benefit (if available) is to speak to others within your new company, who also have relocated to your new locale. HR Departments can usually put you in touch with those individuals.
Some companies will even provide you with down payments, or closing costs on the home you are selling, or buying. Most firms however will not provide those expenses up-front, they will be reimbursed to you after you are on the job for at least 60 days.
Remember, moving to a new city for a new job can be exciting and rewarding as well, but in order to make the right move, you must choose the right services.
© Copyright Yours In Travel Personnel Agency, Inc. 11/99