Worldwide ERC, the association for workforce mobility, recently released research on corporate relocation assistance programs for current employees transferred domestically within the U.S. “Relocation Assistance: Transferred Employees,” reflects corporate programs and policies from 162 companies that addressed 42,250 current employees who were relocated in 2008.
“Most of the respondents to the survey have homesale programs administered by outside relocation management companies that manage the sale of the employees’ homes,” said Jan Hatfield-Goldman, Worldwide ERC® VP of Research and Education. “Because real estate costs have been so greatly impacted by the overall economy and the struggling real estate market, companies are looking to manage costs as they maintain the very competitive element of employee mobility in their business planning. Some of the strategies they are implementing include a continued movement toward tiering policies and increasing the number of tiers, eliminating coverage for the transportation of recreational vehicles, formalizing loss-on-sale policies but restricting the amount of loss that will be covered, and encouraging more homeowner participation in the home marketing phase by offering cash incentives to find buyers for their homes.”
“Relocation Assistance: Transferred Employees” also addresses transferee demographics and other relocation assistance trends in the “new economy” such as: changes in reimbursement methods for temporary living expenses; limitations on the provision of purchase closing cost assistance to selected employees rather than all employees; movement toward offering a miscellaneous allowance based on a flat dollar amount vs. a percentage of the employee’s salary; and, policy modifications limiting the situations in which cost-of-living assistance (COLA) programs is offered.
Worldwide ERC® member price for the report is $95.00 ($250.00/nonmembers); purchase online.
Worldwide ERC® is the recognized industry authority on relocation and international assignments in the U.S. and major global traffic areas. Worldwide ERC® provides leadership, advocacy, education and networking to global workforce mobility professionals and stakeholders through specialized training, credentialing, meeting events and information exchange. Worldwide ERC® is headquartered in the Washington, DC metropolitan area, with offices in Brussels, Belgium and Shanghai, China. Contact Worldwide ERC® at +1 703 842 3400, or visit www.WorldwideERC.org.