When looking for a new job, the best feelings come with it. However, when relocating, it can be tricky if one has to abandon their residence, sell things, or move with all of their household belongings and family. The biggest problem faced when relocating is the moving cost. This can vary depending on the distance and luggage required. ..
1. Relocation package this may be meant cater to;
The cost of moving: -The temporary housing: -Travel cost of the employee together with his family: -The temporary storage of household goods: -House hunting costs: -Initial home setup: ..
2. Lumpsum
When a company provides an employee with an estimated amount of money for the entire process of moving, the employee is expected to use this money to organize their movement from their old homes to a new home and cater to everything in between. If the employee does not use the money within a certain time frame, or if they spend more than what was provided for, then the company may provide reimbursement.
Every new employee is eligible for relocation assistance but needs a written down application indicating all the details that may be used to calculate the amount to be paid to aid a smooth transition. Therefore, it is essential to consider all the factors when applying for relocation assistance. To apply, the successful candidate has to write to HR giving them exclusive details on what they need and want in order for their move.
Can the relocation assistance fee be paid back?
-A job offer -The employee’s relocation assistance package -The employee’s current job
When an employee is unsatisfied with the job and decides to quit, the company may be able to terminate the employee within a year of employment. If the employee fails to turn up after being paid a lump sum, then the company may have to take legal action.
Employees who have been with the company for more than a year are not expected to pay back the relocation fee they received when they first moved. ..
Conclusion
A good relocation package can help you relocate to a new home or city with ease and at a fraction of the cost of buying a new home.
A relocation package can enable a new employee to move from his old home to the place of work. Thus, it should range between $20,000 and $100,000.
Some people may feel that it is reasonable to ask for relocation assistance, while others may not. Ultimately, it is up to the individual to decide whether or not they feel that they need assistance. ..
Can you get a relocation package?
It is always good to negotiate for a custom relocation package, as long as the final price favors both parties. ..
