This is a guest post by Danielle on the negotiating a relocation package. You can read the guidelines to guest posting at our write for us page.
When your company asks you to move to a new location, you face many questions. One of these is how, on your existing income, you will afford to move. To help, your company may negotiate different kinds of relocation packages with employees.
Here are some things to consider:
The Moving Company
Hiring movers is a substantial investment, and the cost of hiring a moving company is going to greatly impact your budget, especially if you have a family. This should be one of your first considerations as you negotiate a relocation package. If the company wants you to move, they should pay for the moving company’s services.
If that is not an option, ask your company to cover the costs a rental truck, gas and packing supplies such as boxes and packaging paper. It’s a less expensive alternative to hiring a moving company, but still helps foot the bill.
Cost of Living Adjustments
If you live in an area with low real estate prices, but are moving somewhere with high housing values, housing costs needs to be considered as you negotiate your relocation package. If you are selling a $200,000 house but will need to spend $500,000 to get a similar sized home in your new location, you may wish to negotiate some sort of compensation, whether it is an outright payment to cover this difference or an increase in pay. Consider asking for a cost-of-living adjustment if it will be more expensive to live in your new location.
Assistance with the Sale of Your Home
Selling your home can be a tremendous hurdle. If your company is serious about having you move, they may be willing to help with this. Assistance may include coverage of the monthly payments while your home is on the market, a takeover of the actual selling process or a price guarantee.
Temporary Lodging Costs
Even if your company is handling the sale of your home, you may need temporary lodging. If you need the proceeds from the sale of your home for the down payment on your new one, you may opt to rent until your home sells. You may also need to stay in a hotel for a few days as you wait for the moving truck to bring your belongings. These types of temporary lodging costs may be added into the relocation package.
What Not to Ask For
There are no cut and dry guidelines to what is appropriate to ask for in a relocation package. Yet, chances are you are not going to be paid simply for the task of moving. Everything you add to your proposal needs to have a reason, whether it is cost of living or the cost of the move.
Once you know what your goals are for your relocation package, approach your human resources department with a detailed data-driven proposal. Try to keep it as mutually beneficial as possible; it will improve your chances of getting a package that meets all of your needs and allows your transition to be a smooth one.
About the author:
Danielle is a professional writer living in the Indianapolis area. She specializes in blogging about education and professional development.