4 Perks the BEST Relo Partners Provide
The relocation industry is an interesting space - traditionally, the only option for companies who relocate employees was to use a big, expensive RMC (Relocation Management Company). There wasn't a lot of visibility, and rarely any choice in what services and vendors were available.
Most companies are either used to working with the same RMC they've used for years, or doing it all themselves. Maybe you inherited a partner when you started with the company, or maybe you don't even realize there are other options. We're all trying to do more with less, and choosing the right relocation partner is critical to providing maximum value while still containing costs.
Sound impossible? It's not - by using technology and an innovative approach to relo you can absolutely get the best of both worlds! Here are 4 "perks" a great relo partner will provide:
Actionable Reporting & Metrics
A great relo partner should be able to provide ongoing reporting and metrics related to your relocation program. Ideally, they should also provide recommendations based on this data, with ideas for you to cut relo costs.
- Spend vs. Budget - are you coming in over/under budget
- Which benefits are most used
- Average cost per move
- Line item expense breakdown
- Real-time reporting
Transparency & Cost Savings
Your relo partner should constantly be looking for ways to save you money - such as adjusting policies or offering alternative supplier options. They should provide:
- Transparent fees & markups
- Ability to gross-up relocation benefits
- Savings opportunities
- Fixed fees and/or capped commissions to control spend
Flexibility & Choice
- Choice: You should be able to build the relocation policies you need, in whatever configurations are needed.
- Access to high quality suppliers: You should also have a choice in what suppliers are used. Your relo partner should have a network of vetted suppliers that your employees can use, or (if you want) allow them to choose their own within a set budget.
- Flexibility: Can you build flexible relocation policies - for example, a combination of lump sum and managed budget, or are you locked into a traditional relo program?
- Options to structure relocation packages to best fit your business (lump sum, cash bonus, managed service, self-service).
Excellent Customer & Employee Experience
- Your relo partner should be 100% focused on employee satisfaction - with exceptional customer service/support for employers AND employees.
- They should also be aligned with your goals - If you have to spend more money for them to make a profit, you're going to end up overspending.
- Dedicated relocation consultant: Your RMC should be able to provide the white-glove experience to your employees and guide them through their move.
- Value-added benefits: Most relo companies will provide basic benefits, but resources like city and company education, coworker insights, online employee portals, and homebuying and selling assistance go the extra mile to create exceptional employee relocation experiences.
A great relocation partner will enhance your program by streamlining processes and maximizing cost savings. They should be aligned with your vision and goals, and act as an extension of your team. Things have changed in the world of relo, and there are now much more options for employee relocation partners.
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