Sick of approving every little detail of each employee's relocation? Learn how a formal policy can reduce your costs and admin, and save you from going insane!
Many of the companies we speak to, be it high growth start ups or expanding media companies, talk about the admin burden they are faced with when moving employees. Regardless of whether it is a new hire joining from across the country or an existing employee being dispatched to open the first international office, the huge number of tasks and decisions an employee has to make in a short space of time usually result in them relying on HR for assistance and answers to their numerous questions.
More often than not, this is the result of an unclear relocation policy and poor expectation setting for the employee. For many companies, it may be the case that they have only ever had a few such moves in the past, and each has been dealt with in an ad hoc fashion. For others, the speed of growth and hiring has meant that the focus lies elsewhere, with employees left to fend for themselves when it comes to moving. Unfortunately these common situations end up costing vast amounts of time and money for both the company and the employee, as time is spent inefficiently and decisions about relocation spend are made hastily.
Developing and formalizing your relocation policy is an important first step in maximising the efficiency of your program, both financially and in terms of employee productivity. Whether you are operating a lump sum payment or reimbursement policy, setting defined policy parameters and communicating them clearly to your employees ensures that exceptions become just that, rather than the norm. Can an employee expense their meal at the airport? Do they get two weeks in temporary housing or a month? Do they have to pay upfront and claim back or will you pay directly?
Clear policies and communication prepare the employee for their experience and set their expectations accordingly. Rather than asking multiple questions about how their budget should be allocated, or whether one supplier is preferred over another, they have clear guidelines within which to plan their moves, eliminating many of the unnecessary queries and saving your team time and effort, and giving your employees the autonomy to make decisions about their relocation budget independently.
Get in touch today to learn how you can formalize and implement a tailored relocation policy to save you time and money!