With more companies offering and more employees expecting relocation assistance, the market in this industry has reached $14.1 billion in 2022
With so much money floating around you should wonder what your job relocation package will look like. Not all packages are the same, therefore, asking your new employer the details about your assistance is necessary.
Read on to know the top five things to consider when accepting a relocation package.
1. Types of Payment Plans
The first factor to consider is the type of payment plan your employer will use.
The types of relocation funds include:
- Direct billing- your bills are sent to the company
- Reimbursement- you pay and get the money back
- Lump Payment- the company gives you one lump sum upfront
- Relocation Service- a third party handles your expenses
Your employer may only use one of these types or be open for debate. This should be discussed when negotiating your salary
2. Selling Your Home and Moving to a New One
The cost of moving alone can range up to $5,700
for long-distance. Add in the expenses of selling your home and this number will only increase. So, when you are moving for a new job make sure that the company has a real estate agent on hand and covers moving expenses.
Both of these factors will make your transition smooth and less expensive.
3. Getting Temporary Housing
Starting a new job already comes with a lot of changes. Add moving to a new state or even country and your nerves will be shaking.
To help with all the change, having a home ready when you get to your new location can make a huge difference for comfort. Be sure that your company offers a temporary living situation so you can settle in and find a long-term home once the dust settles.
4. Including Your Family
Any relocation package that does not support your family should be renegotiated. This is especially true if you are moving to another country. Visas are needed for you and your family to ensure immigration issues do not persist.
You may also consider a childcare package or school registration assistance. Your spouse may get help finding a new position as well.
5. Deciding a Start Date
You might get all the financial assistance you need but if you are rushed then you still might end up short on cash. Getting a flexible start date for your first day on the job will ensure you are budgeting for a move and have time to settle any loose ends at your old residence.
Getting comfortable in your new location should also be given some time.
Finding the Best Job Relocation Package
Now that you know what to consider in a job relocation package all you need to do is find the perfect job. Some job descriptions will list that they offer assistance. You can seek these jobs out but remember that you need to discuss the details.
Get started on finding your dream job by browsing our job listings