Recognized as thought leaders, HomeServices Relocation (HSR) consistently monitors global trends in the relocation and mobility industry and participates in regional and national relocation associations. This allows us to counsel our clients regarding relocation best practices and ensure your policies reflect current trends and support your corporate goals and objectives.
Business operates in an ever-changing environment
Changes in markets, technology and regulation create a shifting landscape that must be navigated by business leaders to ensure the success of the organization. For mobility professionals, the relocation policy is the framework we use to navigate our environment. As the environment changes, so should the framework. Formal reviews should occur no less than every three years. Significant regulatory changes like the Jobs and Tax Act of 2017 should prompt an immediate review. HSR is constantly evaluating the effectiveness of policies and includes analysis and recommendations for change in the annual review process.
Policy considerations can be as varied as the companies themselves
Company culture and mobility goals are key drivers for policy. Companies should be aiming for three goals with their relocation policy and spend: recruitment and retention, employee engagement and employee productivity. Cost control, compliance and services are not goals for the program, but rather are the result of good execution and management of the policy that drives the primary goals.
Relocation policies aren’t built to run on auto pilot. In addition to determining alignment with business performance and goals, benchmarking and review of program effectiveness ensures tax compliance, proper supply chain management and improves the overall employee experience.
Answer the following questions to determine if it is time for your organization to consider a mobility policy audit.
How long has it been since your organization has reviewed relocation policies?
Were your relocation policies updated after the 2017 Tax Cuts & Jobs Act? This legislation had a significant impact on the taxability of relocation benefits.
Is your organization achieving it’s talent/recruitment goals?
Are your relocation benefits competitive with similar companies in your industry?
Have you analyzed the prices you pay for relocation services? Both in terms of fees, and for significant costs like home sale benefits and household goods transportation?
Does your organization fully understand how your relocation management partner charges you for their service?
If you are questioning your answers to any of the above, contact us. We can help. HomeServices Relocation will provide a review and analysis of your relocation policy.
HomeServices Relocations’ mobility policy management services are designed to help you spend time managing your business with confidence that your recruitment and retention goals are being supported by a professional and trusted relocation partner.
