An employee is eligible for a relocation package when relocating to a different city by the employer. However, it’s not obligatory for the employer to provide relocation packages to their employee but if it is being offered to an employee, the employee should know what is included in it. The relocation package includes a wide spectrum of facilities, amenities and reimbursement. There can be many relocation package examples, let’s start with the most basic one.
If a new employee who has just graduated from a college and is offered a job which needs relocation, the minimum amount payable to him/her is $2500 which includes shifting expenses. It’s the minimum acceptable relocation bonus. After receiving the bonus, the new employee has to get acquainted with the new location on their own and find a permanent residence for themselves. All the other expenses which occur during the relocation have to be borne within that specified amount only.
However if you are a senior employee and the sole earner of your family the relocation benefits depends on how much property you own and what position is being offered to you after your relocation. Out of so many relocation package examples if we assume position of a senior employee with a package of around $1,000,000 then the following benefits can be expected.
Firstly the total expenses involved in the overall relocation have to be reimbursed. This includes the charges of packers and movers, temporary stay at the relocated destination and temporary storage of goods. It is assumed that you are buying a new condo for your family and it will require at least a week for the entire procedure. During this time the cost of meals and transportation needs to be reimbursed. If you and spouse have been driving a car to relocate to your new destination, the expenses incurred are also covered.
Secondly, all the transactions which are related to the moving of your property are borne by the employer. Like for instance, the commission paid to the real estate broker who is helping in selling the old house or buying of a new house and all the costs which are similar to it. It’s not necessary that the employer gets completely involved in the entire process but he/she needs to pay the operations costs, either wholly or partly.
The expenses which occur during the turning off and turning on of the homes services and utilities are expected to be covered in the relocation packages and have to be on the both the ends of your relocation. The cost of moving one or two vehicles can be expected to be paid by the employer when you relocate. Mostly it is for one vehicle, but if you are lucky enough the employer can offer cost for moving even two vehicles. There are other expenses which are a result in the disruption of you and your family’s settled life; like for instance the admission fee of your child’s new school.
Whatever an employer pays to its’ employee in the form of relocation package reveals a lot about the company’s culture. The Urban Rebound relocation services helps you in knowing about the facts related to relocation and also helps in reimbursement done by the employers.