Job Relocation Package: What It Is And What It Includes
When relocating for a job, have you ever thought about what aspects should be covered financially? It is actually in your best interest to ensure that everything that needs to be covered, is well, covered. If you’re wondering about what’s ubiquitously included in the average job relocation package, then you’re in the right place. But before we proceed with a list of things you should be aware of, let’s talk about what a relocation package is.
What is a relocation package?
If you’re offered a long-term employment in an overseas location, a relocation package may be provided by your employer. It aims to cover a reasonable amount of moving and other work-related expenses to lighten the expensive burden that comes with relocation. A comprehensive package can provide a peace of mind as well as an incentive to accept the job offer!
What is typically covered in a standard relocation package?
The cost of finding a moving company service with reasonable insurance coverage is a definite must. This will help to protect your belongings during the move as well as any delays during the trip.
At Moovaz, we offer relocation services with transit insurance options that are specially curated for your move. You can leave the shipment process to our professional team of international packers and movers for a smooth relocation!
2. House hunting trip
Most relocation programs usually include at least one company-sponsored house hunting trip for a short duration so you have the opportunity to find a new home. This encapsulates the cost of transportation, lodging, meals and sometimes, childcare so your kids can stay home and be looked after.
From home base to the final destination, your relocation package should reimburse you for transportation and airfare fees.
4. Miscellaneous expenses
The “miscellaneous” category is broadly defined. In this case, it can be made up of a lot of small costs. This includes driver’s license fees, pet registration and license, cleaning services and other moving-related expenses. However, this should be capped at a maximum cost, so ultimately, the onus to self-manage is on you.
There’s no cookie-cutter approach as there are bound to be several variations in how relocation packages are distributed, calculated and spent in each company. Hence, the four factors mentioned above are meant to give you a gist of what you should expect.
Also, here are a few features of what a standard relocation package would cover:
- When you need to meet a tight deadline to move, temporary living arrangements should be covered.
- Employment assistance for your spouse in the new location.
- Childcare costs and elderly assistance.
- School location assistance for school-going children.
Your relocation package may or may not include all the features. But in some cases, you should compare your package with those of your competition to spot any areas that are lacking. This way, you can notify your company’s HR team of the discrepancy and voice out your thoughts on the consideration to make changes so your package remains fair and competitive.
Though international borders remain restricted during the pandemic, employers can still do their part to settle the administrative matters that come with putting together a relocation package. A well-thought out relocation package allows the employee to focus better on the task at hand rather than feel overwhelmed by the move and be bogged down in the smallest admin details.
While moving is stressful enough as it is, outsourcing an ideal removalist company that you can trust can do wonders in the efficiency of the entire process. Moovaz is a team of international movers with rich expertise. In the process of moving overseas, you can leave the shipment process to us for a seamless and hassle-free relocation.