Essential Questions to Ask When building a Relocation Policy
Whether you are designing a new relocation policy or updating an existing one, asking the right questions is essential. Below are foundational considerations to help ensure your policy is both comprehensive and competitive:
Home Sale Assistance
1. Will the policy cover real estate commissions and closing costs associated with the sale of a home?
2. Are pre-sale repairs included?
3. Will you provide tax gross-up on reimbursed expenses?
4. Have you considered offering a tax-protected home sale program such as a BVO to reduce program costs?
Household Goods Shipment
5. Are moving expenses fully covered or capped?
6. Is there a weight limit for shipments?
7. Are packing, unpacking, or multiple shipments for large households included?
8. Are any items prohibited?
9. Will you cover any storage?
Temporary Housing
10. How long will temporary accommodations be provided?
11. Are there restrictions on the type of housing?
12. Is this benefit direct-billed or employee-reimbursed?
Home Purchase Support
13. Are closing costs on a new home reimbursed?
14. Is there a cap on the eligibility for closing costs?
15. Are there additional incentives, such as cash-back programs or preferred mortgage rates?
Miscellaneous Expenses
16. How many house-hunting trips are included?
17. Are family travel costs covered?
18. Is there tax protection (gross-up) for relocation-related expenses?
19. Is auto transport or shipment included?
These questions can serve as a foundation for building a policy that supports both your organization’s goals and your employee’s needs.
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