Research into uptake and usage of Lump Sum Moves
As a relocation management company, one area of assignment type we have watched over the past years with interest is the growing popularity of the “cash lump sum relocation”. Especially in UK and European managed Global Mobility programmes.
Whether you make a basic cash lump sum option available to your employees or prefer to put a management framework around your lump sum programme to provide a level of control and visibility in the form of a “managed-cap” or “managed lump sum” approach, you will no doubt find this research report useful.
A snapshot of Global Mobility’s approach to Lump Sum relocations
Global Mobility professionals from across a broad range of industry sectors took part in the this research project to benchmark a number of factors around how lump sum move strategies are being employed in organisations who move their employees worldwide.
The result is a snapshot report illustrating the uptake of lump sum options by Global Mobility departments, their attitude towards them and how to manage the challenges.
What should be included in a Lump Sum Policy?
Find out what type of support is most commonly covered by Global Mobility in a managed lump sum budget. See how other Global Mobility and HR professionals feel towards the level of control they want over a lump sum programme.
What are the Benefits and Challenges of Lump Sum moves?
The research asked participating Global Mobility teams what are the pros and cons of a lump sum approach.
Basic Cash Lump Sum Moves and Managed Lump Sum Relocations
One of the characteristics of lump sum move allowances is employee choice. With this comes challenges and associated risks. There are ways to manage these risks and often Managed Lump Sum programmes, often referred to as Managed-Cap in the US, offer potential solutions. The research report provides insight into the level of control Global Mobility would like over this.
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Lump Sum management options
Are you interested in building a framework around your Lump Sum programme? If so we can help. Gerson Relocation offer flexible Managed Lump Sum solutions to mitigate risks, manage the budget and provide you with visibility and control. If you are interested, then simply call us or email firstname.lastname@example.org.
Useful information for your employees receiving cash lump sum move allowances
If you are currently using a basic “cash for moves” approach and simply providing your employee with a cash payment, then you may be interested in some of the existing articles that have been written specifically for employees to help them maximise their cash relocation allowance.
Bearing in mind that this may be your new starter / employee’s first international move, then they are likely to be on a steep learning curve which will detract from their present role, and if there are problems that they need to sort out, it will impact their new role as well. For this reason, providing a guide to the international move process, how to get a quote and how to choose an international mover. Also help them understand the types of support they can receive and the purpose of each service.
In its simplest form it could be that you provide a set of recommended characteristics to check, e.g. FIDI accredited, their online feedback score being over 4.5/5, a member of BAR, etc