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| Involve-Participate |
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Also, involve your children in all
aspects of your relocation. If possible, bring them with you on
house-hunting trips; if not, photograph or videotape the house that you
select, as well as the neighbourhood and new school.
Allow your children to participate in planning the move. "When
possible," , "ask your children to perform small jobs that are
age-appropriate and that can often be made enjoyable."
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Sale, Merger or AcquisitionTips for a Job-Related Move
With the current corporate consolidation climate of
mergers, acquisitions and buy-outs, many dedicated employees may find
themselves being asked to relocate. An estimated 43 million Americans
move annually and approximately 40 percent of those moves are
job-related. Most employers offer some type of moving assistance; but
you should negotiate the terms of your relocation package up front.
Mayflower Transit offers these helpful tips when it comes to
negotiating your moving expenses: Know when to ask
The best time to negotiate relocation expenses is before
accepting the new job, so you can avoid surprises. During the interview
process, ask your prospective employer about the company's relocation
policy, and check to see if the human resources department can provide
a written copy. Size matters
Larger companies may offer a more standardized relocation package
than smaller companies, so determine the flexibility of your
prospective employer. Also, the cost of living and compensation varies
by city and your industry. So, do your homework to make sure the
dollars are comparable in your new market.
Ask around Get a sense of
other relocation policies. Ask associates in similar firms about their
experiences with moving benefits and policies.
Options to cover moving costs
Companies usually handle direct moving expenses in three ways:
* A flat or lump-sum payment may be offered to cover expenses
associated with relocating, including the moving company, hotels,
meals, and mileage. * All expenses paid up to a certain amount, provided you turn in all receipts. * All expenses paid and coordinated through the company's moving services provider.
What is commonly covered
The following expenses are typically covered in a corporate relocation:
* Temporary lodging costs – Make sure to negotiate these terms up
front with as much flexibility as possible. Some circumstances are
difficult to control, for instance you don't know how long it will take
to buy and move into a new home. It's also a good idea to try to
negotiate the option to extend temporary living arrangements after 30,
60, or 90 days, if needed. * Travel costs –
If you relocate before your family does, find out if costs for
traveling between your old and new residence are covered.
* Finding a home – About 46 percent of companies pay for one
house-hunting trip to the new location and 49 percent cover two or more
trips. Check to see if this also includes your spouse's trip.
* Packing and moving costs – Many businesses work with moving
companies that specialize in corporate relocations. Ask what all is
covered, including the cost of hiring a van line, packing and
transporting your belongings.
Other things to consider
Depending on your new position and the company's size and flexibility, it is not uncommon to ask for additional perks such as:
* Assistance in selling your old home – This can vary greatly,
depending on the new company's policies, but here are some benefits
found in many relocation packages:
o The company will assume responsibility for monthly payments, taxes
and insurance until the old home is sold.
o Price guarantee – If you sell your house yourself, the company
will pay the difference between the net selling price and a specified
price. o
Alternative price guarantee – If you cannot sell your house
within a pre-determined period of time, your new company will buy it at
a specified price. o Your company will pay commissions and other costs of sale. * Extra time off with pay for traveling and house hunting in your new city. * Shipment of your car at the company's expense. * Payment of closing costs on your new mortgage. Buying a percentage point off of your interest rate.
* A one-time payment to cover incidentals such as utility hook-up
deposits, appliance installation, auto registration and cleaning your
old house to get it ready for the market. * Job
placement for a spouse – About half of U.S. companies offer
assistance for a spouse who has to find a new job -- usually through a
referral to a recruiter or job placement agency.
Get it all in writing
Make sure you get all the agreements in writing and examine the
fine print to ensure that sure that everything is understood. |
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