Relocating for work can be expensive. Even though the career opportunity is lucrative, financial concerns and stress are significant problems many managers and executives face when it comes to relocation. These days, many companies offer relocation packages to cater to the expense of moving a new or existing employee to a new position. However, there are no laws that require companies to offer relocation assistance.
A relocation package is a perk offered by numerous companies to attract top-tier workers regardless of the workers’ location. Company relocation has been made easy by the numerous moving companies that can help you relocate to any destination. One of them is Osmon Moving and Storage, a highly rated and efficient moving company that offers top-notch moving plans to match the requirements and concerns of every client. Below are some tips to assist you in negotiating your desired moving package.
Research the Cost of Relocation
Before starting the negotiation process, you should determine your company’s relocation assistance. You may have to do some research if it is not specified in the job description. If you know the company’s relocation assistance, you can use what they offer to determine what you want.
It is crucial to calculate the total cost of relocation. You cannot expect the company to meet your demands unless you first consider the total cost of relocation. Many companies will not accept speculative estimates. After you have done the calculations, you’ll be able to determine if you can afford to move on your own or if you’ll need help and how much. Once you have decided, you can go to the company and negotiate a deal, such as the housing allocation when you relocate.
Consider the Taxes and Cost of Living in Your Relocation Area
Taxes and the cost of living must not be overlooked in the thrill of moving and starting a new job in a new city. Taxes are a crucial factor to consider when moving to a new state or city. It is beneficial to look into the difference between state and property taxes in the city you are relocating to and your current residential area. Is your salary reflecting this difference? It is in your best interest to consider the cost of living.
Even if you have a pay raise, does the high cost of living cancel out the pay raise? These are some of the factors you must consider. You can request a disturbance fee in your relocation package to compensate for the high taxes and cost of living.
Make your Case
Whether leasing office space or relocating an employee, businesses make decisions expecting a return on investment. When negotiating your relocation package, you should find a way to persuade the company that money put into your relocation package will eventually benefit the business.
You can make your case by explaining why your request will benefit the company, and it is a win-win situation for both of you. Let’s say the organization requires you to start working in two weeks, and you are yet to sell your house. You know it is impossible to sell, relocate, and start working in two weeks. You can request temporary housing and home sell assistance, explaining that these services will allow you to concentrate on the relocation and ensure you report to work on time.
Remember that whoever you work with within the organization, whether it’s someone in Human Resources or your boss, is required to file a report based on your requests to whoever writes the checks. You can ease the process by stating all the benefits you bring to the organization up front, which increases the likelihood of you getting the relocation package you want. Your talking points should be clean, concise, and rationale for efficiency and effectiveness.
Learn Corporate Psychology
The goal for many organizations when relocating workers is to use the least amount of revenue while ensuring the worker feels cared for and comfortable. Employers know that relocation policies mirror the organization’s reputation. They want to be seen as perfect employers to attract top-tier talent.
You are usually at a tremendous advantage during negotiations, as they will be more likely to accept your request. For the right talent, the employer will go to great lengths to secure their services. If other employers offer you jobs that include relocation packages, the current one does not mention it during negotiations.
Learning about interest from their competitors can be an incentive for employers to offer some relocation assistance. If you have a low starting salary, use it to bargain for a better moving package.
Get the Relocation Agreement in Writing
As with any significant contract or decision, get it in writing. Once you have reached an agreement, request your employer draft a contract or letter outlining the relocation assistance you agreed on. Knowing your assistance enables you and your team to organize yourselves better, since you will know the expenses you need to cover.
It will help if you read the fine print before signing the contract, as with any other important contract. While they may not reveal the full details of your moving package in the contract, a mere mention will suffice.
Ask for Help
Since corporate relocation is a popular trend, you should not assume that your organization has a big relocation package ready and waiting for you when you accept your job offer. It would be best if you did not assume your organization would provide adequate relocation assistance
It would be best if you asked for what you desire, including all compensation and services you’ll require for your relocation. Relocation can be costly; whatever you expect it to cost, it will probably cost more.
You should ask your company for help. After all, you may never know the help you may be able to get if you don’t ask. If you clearly state your requirements, you have a good chance of getting help if your needs are reasonable. It’s important to remember that you and your organization want to relocate you and your family in a way that makes you happy to ensure that you can focus entirely on your work. Negotiating a relocation package is mainly about making the relocation process as stress-free and cost-effective as possible.
Negotiations can be intimidating and difficult, especially if you don’t want to put off your potential employer by listing many demands. When dealing with an executive search consultant, you may be better off using a seasoned negotiator to handle the negotiation process.