As many companies return to the office, they’re more and more motivated to acquire top talent in the area – even if that means bringing the talent to them. Jobs that offer relocation packages are common across many industries. Relocation packages can also vary – including special benefits offered to travel nurses, lumpsum relocations in the tech industry, and reimbursement relocations. If you’ve never experienced relocating for work, you may wonder what to expect or how to ask for it.
Read on to learn more about what you should expect from a relocation package, how to ask for one if the company hasn’t offered one, and easy ways to cut down the complications of relocating.
How Do Relocation Packages Work?
Though every job and company is different, common types of relocation packages include a lump sum payment, reimbursement, or a predetermined agreement with a relocation service provider. Depending on the company, the services, and compensation provided may be negotiable based on your unique circumstances: where you’re moving from, if you own a home or rent, if there are family members that will need to move with you, and more.
Lump sum relocation
A lump sum relocation is typically one where your employer provides you with a single “lump sum” payment to cover relocation expenses. Often, it’s up to you to decide how to spend that money – it could be used towards hiring movers, furnishing your new apartment, plane tickets, or anything else that might come up.
Reimbursement relocation
If your employer offers to reimburse you for relocation expenses, that means that you will need to spend the money upfront, and then they will pay you back. It’s critical that you keep meticulous records of the costs you accumulate in this instance, including getting (and keeping up with) receipts to provide. Your employer may or may not have a cap on reimbursement amount, so be sure to get all of the details in writing beforehand.
Corporate moving services
In some instances, your employer may have a relationship with a relocation company. These providers may offer a range of services, from helping you find a new home to furnishing it. If your company works with CORT Destination Services, for example, we can assist you in finding a rental in your new city, locate schools for your children, and even provide orientation tours to help you learn everything there is to know about your new home!
What is a Reasonable Relocation Package?
Relocation benefits vary across companies, but there are a few things that are typical or can be expected.
1. Assistance with moving costs.
When it comes to relocation packages, moving costs typically includes things like fees associated with breaking a lease or selling a house, moving supplies, and travel and transportation costs.
2. Assistance with housing.
Some companies, especially if you’re moving internationally, may offer corporate housing or assistance locating a home. Depending on your company, they may even offer to pay for your travel back and forth to your new location — allowing you to look for a house or apartment. Additionally, it’s not uncommon to find companies that offer to pay for temporary housing in order to get you to your new location quicker.
3. Moving services and storage.
It’s not unusual to see relocation packages that include hiring professional movers or providing storage services for your belongings, especially if you need to move on short notice. Some relocation packages may cover the costs for one or both services.
Beyond the Basics: What Else Could You Ask For in a Relocation Package?
Just like salary or other perks like PTO, when you accept a new job out of state you may want to consider neogitationg your relocation package. When the basics are covered in a relocation package, what else should you consider asking for?
Cost of living adjustments.
If your current employer is moving you to a different location, it can be helpful to receive a cost of living adjustment if the place that you’re moving has higher costs than your former location.
Extended start date or remote start
If you’re moving a long distance, whether across the country orinternationally, it may be helpful to request additional time before you start your new role. This can allow you to take your time to ease in and adjust to a time zone change — and to ensure your home is set up.
Many companies now have the infrastructure to support remote workers (even if just temporarily). Therefore, your new employer may be open to helping you ease the transition by allowing you to work remotely from your current location before moving. Starting remote can be a win for you and for your employer — you’ll be able to start faster and prevent any gaps in pay if you’re in between jobs.
Family support.
Does your relocating mean that your spouse must find a new job, or your kids need to transfer to a new school? If so, consider requesting familial support so that your entire family can join you as soon as possible.
Relocation services.
It may be worthwhile to request that your new company (or current company) cover the cost of hiring a relocation specialist, like CORT Destination Services, to help you navigate your relocation.
When do you ask about a relocation package?
You’ve been interviewing with a great employer for a while now, and it seems to be going really well. They’ve told you about benefits and asked about potential start dates. But they’re on the other side of the country and haven’t mentioned any kind of relocation assistance. You’ve crunched the numbers, and it isn’t pretty – it will clean out your savings account to make the move. At this point, you’re probably wondering how to ask for a relocation package.
The best time to ask for a relocation package is after you’ve been offered the job, but before you’ve accepted. It’s important to consider what you might need. Can you afford to move? Do you currently have time to deal with the logistical nightmare of moving? It’s important not to give an ultimatum while being clear if a lack of relocation assistance will prevent you from accepting the position.
How do you negotiate a relocation package?
In some cases, they may not have a precedent set for offering relocation assistance. In others, they may not offer enough to be worthwhile for you. Either way, consider negotiating!
But what if they say no?
It’s difficult to ask for additional benefits from a company that you don’t yet work for (or maybe you do already work there and are worried about your livelihood). However, there’s little chance of the employer rescinding their job offer just because you asked – and best case scenario, they change their mind and offer assistance. In some cases, they may even have a precedent set for relocation benefits but simply don’t include it in the initial offer unless you specifically ask.
How to ask for a relocation package
When you’re asking for relocation assistance, it’s critical to come into this conversation prepared. Have a proposal for the amount of money or stipulations that you’d require, and know which items you’d be willing to compromise. Do you need moving services, homebuying assistance, immigration help, or just some financial support? Be prepared to share your top priority items, but be ready to given a counteroffer as well.
If your employer agrees to offer relocation assistance, congratulations! Just be sure to ask for a copy of the agreement in writing. If they decline your proposal, it’s time to consider whether or not you’re willing or able to accept the job offer.
When you negotiate your relocation package, consider requesting to work with a relocation service. Relocation services, such as those offered by CORT Destination Services, act as a moving concierge. They can assist with finding neighborhoods that fit you and your family’s needs, they can help you arrange moving services – or even rent furniture if you decide not to move all of your personal belongings. They can even help you become acquainted with the history and happenings of your new location! CORT Destination Services can work with individuals or whole companies and can take much of the stress out of relocating for work.
CORT Furniture-as-a-Service™: Let Us Ease Your Transiton
When relocating, you may want to think about renting furniture rather than moving your personal belongings. CORT Furniture Rental has more than 50 years of experience helping professionals temporarily furnish their permanent or short-term homes. You can start by speaking with your organization and securing your relocation package. From there, ask about CORT Furniture Rental and if your company works with us.
We understand the stress that comes with moving to a new place and starting over, which is why we help you to create a whole-home furnishing package that meets your needs and includes delivery and set up services. Then, when you no longer need the furniture, you can schedule a pickup and our crew will remove the furniture for you. Get in touch with CORT today to see how we can best serve you in your upcoming relocation.
