Moving is supposed to be a fun, new exciting chapter in your life. But as anyone who’s ever moved before knows, getting your belongings to your new home is just one piece of the puzzle. If you’re renting, you have to find an apartment, and if necessary, negotiate the lease. If you’re buying a home, it’s important to shop around to make sure you’re getting the best mortgage possible. And then there are the tax implications, that while good for the most part, still need to be properly addressed.
“Moving is much more than getting your stuff from your old home to your new one,” says Bill Mulholland, CRP, GMS, Director of American Relocation Connections. “Between finding a home and getting acclimated, there are a number of things that can turn into a rabbit hole of frustration – taking away from the excitement that should surround your move.”
One way to streamline many of these potentially time and stress-intensive tasks is to offer a destination services package, which provides assistance specifically for finding a home and the settling-in period that follows the move. Some of the specific assistances that destination services providers offer include:
- Mortgage product counseling
- Tax and legal counseling
- Contract negotiations
- Rental assistance programs
As the job market continues to improve, it’s important for companies to re-evaluate their hiring offers to make sure they are, at the least, in line with the rest of their industry, if not slightly better to remain competitive, notes Mike Berry, Director of Hilldrup Relocation Services.
“Even if you provide a lump sum in place of a formal relocation package, you can still advise relocating employees on the benefits of a destination services provider,” adds Berry.
It can’t be said enough, companies need to do more than simply give new hires or transferees a lump sum payment and say they'll see them on their first day. A little guidance on services like destination services can go a long way in making sure your employees’ transition is a positive one.