January 3, 2006
Runzheimer International recently launched Relocation Advisor, a financial consulting service for relocating employees. The service, made available January 2006, is designed to address the concerns of employees that are relocating or are deciding whether or not to accept an offer to relocate.
Relocation Advisor is designed to benefit both transferees and companies. The service enables transferees to make informed purchase decisions based on their personal circumstances, giving them peace of mind about the move which benefits companies by reducing costly failed relocations.
"One reason that relocations fail is that transferring employees do not have a clear idea of what their financial picture will look like in the new location, both immediately after the transfer and several years down the road,” said Brian Van de Water, Vice President of Global Mobility Services at Runzheimer International. “Companies offer financial consulting to transferees for this purpose, and Relocation Advisor is designed to address the unique situations of transferees.”
Relocation Advisor calls on Runzheimer’s understanding of geographic living costs when addressing financial elements of particular interest to transferees such as housing, taxation, and helps transferees prepare for expenses anticipated in the future.
"For example, relocating employees who receive a cost-of-living allowance to offset higher living costs in the post-move location may buy ‘too much’ house or finance the home without regard for the fact that the additional income provided by the cost-of-living allowance will eventually be phased out,” said Van de Water.
With Relocation Advisor, transferees input their financial information into the secure, confidential Relocation Advisor website. A financial analyst then analyzes the information and creates a 10-year cash flow report specific to the transferee. The transferee and financial consultant meet via Web conferencing and discuss the financial implications of the move and modify the assumptions as necessary.
About Runzheimer International
Founded in 1933, Runzheimer International serves 60 percent of the Fortune 500. Recognized for providing innovative solutions relating to employee mobility, Runzheimer is a global leader in living cost information used in employee relocation and compensation, nontaxable business vehicle reimbursement programs, and travel management consulting.
* * * * *
For more information, contact Luella Dooley at Runzheimer International, Runzheimer Park, Rochester, Wisconsin 53167, 262-971-2271, ljd@runzheimer.com, www.runzheimer.com.
