23 Mar Benefits of Working with Relocation Management Companies
With the high volume of mobile workers coupled with the complex mobility processes that a company oversees, global mobility professionals can have so many critical responsibilities on their plate that handling the entire relocation process might become such a hassle. Fortunately, many companies have enjoyed the benefits of hiring Relocation Management Companies (RMCs) to aid in providing expert advice concerning relocation.
Beyond RMCs’ role as strategic advisors, they also give personal service in relocating mobile employees, even guiding them through the whole relocation process. With the right RMC, companies can avoid costly and underutilized relocation spending – plus they take a deep look to determine the best relocation policies to offer for their clients.
Though the Year 2021 didn’t present favorable figures in employee movement, companies predict more promise in the mobility landscape in the next decades. If companies are still on the fence on whether to hire an RMC or not, then the best way they can tackle this dilemma is to identify the benefits of hiring a RMC and see whether it suits an organization’s needs.
Luckily HomeServices Relocation (HSR), a full-service corporate mobility and relocation management company, opens the discussion on the top reasons why organizations should hire RMCs to oversee the entire relocation process:
Reduces stress on the assignee and family
Research suggests that geographical relocations induce stress not only to employees but to their families as well. Relocation is a major life event that requires a lot of thought before pursuing the offer. It’s no surprise that psychological experts have been trying to understand the root causes of stress in the entire transition period.
Having an RMCs relocation counselor as a primary point of contact can dramatically reduce stress levels for an assignee. It isn’t a good sign if an employee has to call multiple contacts to get mobility advice in the relocation period. In addition, RMCs’ handling of the movement of household goods can pave the way for mobile employees to focus on other important matters they need to attend to for work.
Achieves duty of care
Though companies can demonstrate exemplary levels of care toward their mobile employees, hiring RMCs who have the track record of providing the best care to assignees can take it to a whole different level. Their responsibilities cover benefits to support the physical, mental, and financial burdens of relocation. All these allow assignees to feel that their company is after their well-being in this vulnerable life event
Increases assignee’s productivity
Relocation eats up a lot of time. Whether a mobility professional or the employees themselves take the responsibility for the relocation processes, the opportunity for any of the two to focus on more important tasks at hand more related to their functions is wasted. Having a professional relocation counselor will save a ton of time.
Eliminates likelihood to fall victim to moving fraud
Moving is already stressful. Assignees who become victims of moving frauds are under a lot of stress to the point they’re unable to focus on their work. Hiring RMCs can help reduce those risks by connecting clients to moving organizations as some RMCs do have a solid network of legitimate moving businesses.
Provides recruitment competitiveness
To remain competitive in recruitment, an RMC allows employers to offer the best relocation benefits to help them attract top candidates for available mobile positions. Now, with a considerable talent gap observed, it’s all the more important to challenge the organization’s ability to maintain a competitive advantage on recruitment; therefore offering competitive relocation benefits can indeed help.
If companies still can’t come to a decision based on these reasons, then they should proceed in identifying signs that they might need an RMC to take over. Leah Johnson, Sterling Lexicon’s Director, Client Solutions, presents signs an organization might need to outsource to an RMC.
- An assignee is managing his or her own move
- Global mobility professionals are being asked numerous questions about neighborhoods, schools, and commute times
- Spending too much time on reviewing estimates and setting up vendors for payment
- The company is in charge of resolving service issues between service provider and assignees
- It takes a long time to source movers and temporary housing
- Relocation policy is outdated and can’t compete with competitors’ offers
- Companies believe they aren’t getting competitive pricing from service partners
- Global mobility professionals don’t have financial and compensation data of their expat population readily available upon request.
- Companies are unknowledgeable on the tax liability of relocation costs and are unable to answer employees’ inquiries on this matter
- A candidate for an assignment can’t start work due to immigration issues
- Few global mobility staff which results in overworked employees