Consider this: you've nailed a recent job interview and they hire you on the spot. The only catch is that their offices are not in your city. Relocating for a job means moving — which has many costs associated with it.
Companies understand this and many will offer a job relocation package for the right employee. A job survey found that of the 2,899 surveyed, 62% would relocate for a job and that more than one-third of companies have increased their relocation packages in the past five years.
A job relocation package may be given to an employee to help them with the expenses of this transition. A company may be willing to help with, or cover, expenditures for moving, relocating their family, and other costs related to work.
Before making your decision to relocate, you need to ask what’s in your relocation package.
What’s Included in a Job Relocation Package?
Relocating is a major decision, and a company's relocation package, and areas they will assist in, could make or break this decision. As such, you must understand what your company offers in their job relocation package and if it will work for you. Read below for common relocation package perks that should be included by any company.
House Hunting Trip
Traveling to house hunt will have its expenses — expenditures that you shouldn’t pay for if you’ve been asked to relocate. Even if you decide to relocate, companies should understand that finding a home in a new city will cost money and should consider helping you with these costs. Many times, a company will help or completely cover the costs of traveling and providing room and board during the time you are searching for a home for your new living situation.
Home Buying Expenses
For long-term relocation, you will have to buy a house. Of course, buying a house is one of the largest expenses a person can undertake, so it is important to investigate whether or not your new employer will help out with these costs. This may include closing costs, realtor commissions, and more. An employee should also inquire about whether or not their company will help with selling the home they are moving from as well.
Lease Break Coverage
Decisions to relocate can happen at any point. If you are renting your home, this may mean that you have to move in the middle of your lease. Breaking your lease is tricky and often comes with a fee that your new employer may be willing to pay.
Hiring Professional Movers and Packers
Much time, energy, and money is spent during the moving process. Many times, companies will help with the costs of packing, moving, and even unpacking at your new place. If you need to purchase moving supplies, they may reimburse you for these expenses as well. If you need to move into a new home quickly, your new employer will likely help hire a moving company.
Moving Container Services
For the convenience of being able to pack your house up, have your things picked up, and shipped to another city, it may be the case that you choose to purchase a moving container. Look to see if your company will cover these costs during your relocation.
Storage Unit Rental
While you are getting settled into your new living situation, you will likely need to find a storage unit for the temporary safekeeping of your items. A storage unit will be useful in your current situation if you don't want to get rid of items but also can't take them with you. They may be even more beneficial if you are living in temporary housing, or find that you've brought more items than can fit your new home. Storage units do come with a price, and your company may willing to partially or wholly cover the cost.
Job Search Help
Your employer may understand that, for you, job relocation means you already have a job — but your loved ones may have to start anew. For spouses and family moving along with you, companies may help assist in their new job search. They may help in creating resumes, discovering job leads, and coaching.
It is not a sure bet that you will find a house before you need to relocate. In these cases, companies should reimburse you for temporary rental housing or hotel costs while you find a permanent home.
Additionally, if your office space isn't set up yet, it is possible to rent office space. Look to see if your company will reimburse you for these costs temporarily so you won’t have to work out of your home or a hotel. Conversely, if you are still in your current location and your company has moved, see if they will help with the purchase of a business storage unit for you to operate out of for the time being.
Relocating to another city may mean moving trucks, and will likely involve personal driving expenses. Depending on your situation, you may need to pay for other travel expenses such as airfare. Your employer should be willing to reimburse you for expenditures such as gas and airline tickets.
Temporary Childcare Services
Your new living situation can change your child's life as well. You may end up living further away from daycare or other child services and these variables may mean paying more money. A company that wants you to relocate may be willing to help search for adequate child care services and cover the costs.
If you are asked to relocate for a job, you should get help from your employer. If they do not provide help with the expenses you need, relocation should be reconsidered. However, if they do offer to cover these costs, you can start your new career and life off on the right foot.