Check Out These Relocation Package Examples
There’s more to a move than bringing furniture and boxes from an old house to a new one. Especially when your company has a stake in the relocation. So what goes into a relocation package? Our cloud-based platform takes necessary information and shares reports detailing everything you need to know. Maybe even somethings other relocation data providers miss. Take a look at these relocation package examples for a better understanding.
Two Location Comparison Relocation Package Examples
A successful relocation is defined by the transferee maintaining a quality of life as similar to the one of their previous location. Runzheimer reports are built on location data that matches employee lifestyles with possible living areas in their new location. As you can see in this sample report, our Two Location Comparison reports include the following information:
General Report Information
This information includes the basic inputs: salary, family size, type of policy. Note that, to protect the identities of employees involved, private information is shared as a file number.
Cost Differential Summary
This section walks through the cost differential of the original location and the destination location. These cost differentials are broken down by:
- Income Taxes
- Goods and Services
This is the estimated amount the employee should receive for their relocation. It’s accompanied by a breakdown of how the money should be shared over however many years (in the case of our example report, three).
This section shares the characteristics of both the origin location and destination location, broken down into:
- Home Market Value
- Mortgage Length
- Down Payment
- Interest Rate
This section also includes a housing profile that matches to the homeowner and their family.
This section shares similar living communities of both the original location and destination location.
- Cost Differential Detail
- This section dives deeper into the cost differentials of each location, sharing:
- Income taxes (Federal, CPP EI/FICA, Province/State, Local)
- Housing (Mortgage or rent, Insurance, Real Estate Taxes, Utilities, Maintenance)
- Goods & Services
Check out our Two Location Comparison relocation package example here.
Lump Sum Allowance Relocation Package Examples
A relocation may be decided on, but it isn’t complete until the move has occurred. And that has its own set of steps to get through: home finding, temporary living, and final move. As you can see in this sample report, our Lump Sum Allowance reports includes the following information:
General Report information
As with the Two Location Comparison report, this includes salary, family size, type of policy. Again, the same measures to guarantee confidentiality are practiced with this report as with the other.
This section covers both the total sum of the allowance and a breakdown of that sum, including:
- Home Finding
- Temporary Living
- Final Move
- Other Allowances
This section dives further into the cost information above, sharing:
Home Finding Trip costs including:
- Car Rental
Temporary Living costs including:
- Employee Meals
- Employee Initial Travel
Final Move costs including:
- Employee Meals
- Family Meals
- Miscellaneous Expense Allowance
Check out our Lump Sum Allowance relocation package example here.
Ready for Relocation?
Moving an employee is an important, and often sensitive, transition. Hopefully, these relocation package examples clear up any confusion you might have around the process. Our current and reliable data provides the information necessary to ensure a successful move. Still have questions? We’re happy to answer them here.