Lump sum moves can mean an admin, reporting and risk burden. But employees love them. Learn how MOVE Guides helps reduce your risk of relocation failure.
If there’s one word business hate, it’s risk. Within the global mobility space, employee assignments pose a number of risks to companies from candidate selection for an assignment right through to employee retention on return to their home country, with the biggest risk being assignment failure.
The relocation aspect of the assignment itself often creates the biggest headaches for companies, with challenges faced in finding ways to effectively initiate, track, monitor and report on employee movements and costs, particularly when using a lump sum programme. For the cost-conscious company, a lump sum programme provides an effective way to contain costs, with a single line item on the balance sheet for employee relocations, effective forecasting and limited overrun, and for employees it provides autonomy, transparency and choice over their relocation spend, which they love. Unfortunately, with this freedom comes the challenge of supporting employees effectively and monitoring their spend accurately.
Many of these challenges can overshadow the support employees receive, increasing the risk of assignment failure, with employees feeling unsupported and global mobility departments feeling overwhelmed with administration and reporting burdens. In order to mitigate some of these risks, some companies choose to maintain direct relationships with suppliers so as to track employee spend more easily, but this often has the undesired effect of limiting an employee’s options and budgeting ability.
At MOVE Guides we understand the risks associated with moving your staff around the world, and the importance of tracking not only their movements, but their spend and liabilities to effectively report up to other business units. Our supported lump sum programme offers both employees and mobility departments the best of both worlds, with full employee support along with comprehensive tracking, oversight and reporting for HR.
An easy and successful relocation greatly increases the likelihood of a successful employee assignment, and we aim to ensure that your staff are able to settle in fast and be productive from their first day in their new office. Our expert city guides help employees to familiarize themselves with their new city before they arrive, and our team of MOVE Managers are on hand to support employees by phone, email and live chat as they search, compare and book relocation services through their custom MOVEHub.
For mobility departments, our one-click initiation ensures that creating a new employee move is straightforward and painless, with comprehensive dashboards to track employee progress, monitor individual and total programme spend and create custom reports, significantly reducing both the admin and risk burdens placed on global mobility departments, and increasing the likelihood of a successful assignment.
Get in touch today to learn how MOVE Guides can help to reduce your risk of relocation failure.