By: Sam Hoey | CRP, GMS

August 9, 2022

Use these tips to keep relocation costs manageable moving into 2023

We may be working through Q3 of 2022, but it’s never too early to start budgeting for the new year. During the year’s second half, companies begin to evaluate their costs in all areas. Any reliable relocation management company (RMC) would recommend that companies take a look at their relocation packages on an annual basis. This assures talent mobility benefits offered to new employees are competitive. 

These tips provided on the business relocation budget focus on research, cost competitiveness, and professional expertise. Focusing on these tips will also help guide the employee’s moving process in a positive direction. Identifying the full scope of what the company covers regarding moving expenses are critically important to developing a useful talent mobility program.

1) Work with a Relocation Management Company

Working with a qualified RMC will help your company achieve success. RMCs have valuable knowledge and experience to determine how to proceed with the company’s relocation services. Having experience helping companies move employees lets RMCs bring essential points to the forefront. As a result, the company’s budget will have a higher degree of accuracy. Also, the process will ensure a smoother and more successful employee relocation.

When choosing the RMC, look for one that offers ongoing employee support services, relocation benefits, superior technology, comprehensive supplier management, and an industry-leading expense management program. In addition, employers should provide resources for employees and their families during the relocation process. This will help them gain confidence in accepting their new assignments.

2) Get Estimates from Multiple Providers

Employee relocation is a significant undertaking. Companies must be sure to obtain the most substantial value from the business relocation. Therefore, companies should ensure that the RMC of their choice can get their relocation programs in the most cost-efficient way.

Obtaining multiple estimates from reputable suppliers helps companies identify cost-effective solutions that meet the business relocation budget requirements. It is important to note that rates can often be negotiable. RMCs that have experts in group move coordination can easily leverage volume to obtain the best rates from van lines for business relocation and for employees’ household goods moves.

3) Research and Understand Your Rights

The Federal Motor Carrier Safety Administration outlines many rights and responsibilities that businesses are entitled to before, during, and after relocation. These rights are noted in Electronic Code of Federal Regulations, Subpart F—Transportation of Shipments §375.601, §375.603, §375.605, §375.607, §375.609. They include:

  • A van line must move a client’s belongings in a timely manner
  • The moving company must provide a written record called a reasonable dispatch service
  • If there is a delay, the company must then prepare a written record of its amended date for delivery

GMS Can Help Keep You Under Budget

Your company’s 2023 business relocation budget will require adherence to cost guidelines. Therefore, ensuring the entire logistical process runs smoothly and efficiently is essential. Global Mobility Solutions (GMS) team of corporate relocation experts has helped thousands of our clients develop their relocation program budgets. In addition, our team has also helped hundreds of clients create and administer their business relocation budgets for individual and group moves. As a result, we can help your company develop a thorough and cost-effective relocation budget to ensure an entirely successful corporate relocation process.

If you are ready to discuss ways your company can save on talent mobility programs, reach out to us today. We will start with a free consultation with you to go over all your needs when it comes to moving employees. From there, our team will work on a relocation budget that can help your company and employees thrive.

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Senior Vice President, Global Account Management Sam joined Global Mobility Solutions in 1996 and has a unique perspective with her 25 years of industry experience. Samantha offers her clients relocation expertise and a commitment to excellence in her. Her proficiency in orchestrating the BVO and GPO Programs, as well as relocation policy design and implementation, are invaluable assets to the accounts she manages. Her experience in administering Pre-Decision Relocation services to enhance the recruiting process further demonstrates her unique abilities to service her clients. Samantha’s diverse experience, leadership, and outstanding communication skills enable her to manage the relocation process for her clients with finesse and polished professionalism.

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