What do I need to consider when making changes to relocation and assignment policies?
Sometimes, you need to make changes to your relocation and assignment policies. Manager of Consulting Services Mary Fitzpatrick looks at things to consider when making a change.
Complete transcript: “Hi, my name is Mary Fitzpatrick and I’m the consulting services manager here at Plus Relocation Services. My question is, ‘What should companies consider when making changes to their relocation or assignment policies?’
There are many reasons why someone might make a change to their policies and some of these include: benchmarking activities, cost-reduction initiatives, changes to the supply management chain, and mergers or acquisitions. When making changes to your policy it is very important to consider industry best practices. Do you want your benefits to be more or less generous to the best practices in the industry right now?
You want to understand how the changes in policy are going to impact the employee experience. Are you going to be taking away something that they really need? Or are you going to be providing new things that they are really going to love? You also want to understand how the policy equity is going to change. If you provide a home finding trip to one of your higher tier policies now, is it something you want to consider to provide throughout the policies? Lastly, you want to understand, how are these changes going to effect the manager’s budget? This will help them understand how they are going to plan for the upcoming year.
Once you’ve made the changes to your relocation policy it’s really important to understand who else needs to know. Your hiring and recruiting managers are very important but don’t forget your payroll, immigration, and your tax providers. I hope this helps you understand what things to consider when making changes to your relocation and assignment policies. Thanks!”