When required to relocate for either your current company position or a brand new job posting, a relocation package is an important opportunity that you may be offered. Relocation packages vary widely depending on a multitude of factors including your job title, the company you are employed with, and the particular region or relocation. These packages are often significant and helpful because they reduce some of the financial, physical, and social burdens that come with finding a new place to live. While there is not a universal relocation package, reading below will provide you with valuable information on the typical accommodations that are offered by companies.
The Typical Structure of Job Relocation Packages:
Job relocation packages may include all, some, or none of the following offers.
Finding a Home: Travel and hotel expenses are covered to find a prospective home that you and your family consider well-suited.
Cost of Selling and or Buying a Home: Real estate costs and other miscellaneous costs associated with buying or selling may be picked up by your company.
Moving and Transportation: The expenses of traveling to your new location as well as packing and unpacking your household items are paid for.
Temporary Hotel or Housing: In the process of relocating there will likely be time where you feel like you are floating. You do not yet have a permanent residence but need to stay in the new location due to work and future house-related needs. Many companies will pay to put you up in a hotel or some form of housing during this time.
Job relocation packages are great opportunities to help you and your family ease the financial and social stress of a move. Whether you are relocating for a new job or simply being transferred, make sure you are aware of the relocation benefits you qualify for. Furthermore, if your company does not offer you a package initially, you may be able to negotiate or begin a conversation on the topic. There is no secret that moving can be stressful, but taking advantage of job relocation packages can help you make a smooth transition into your next stage of life.