Relocating can be a hugely exciting move. It often represents a vote of confidence from an employer; it can be easy to get swept up in the planning and the logistics without time to work out the pros and cons of how the move will happen.
When you’re being relocated, it’s often part of a larger package that includes an allowance-based move. In essence, an allowance-based move sees the employer give the employee a lump sum payment to cover the cost of relocation. Some companies even ask the employee to bear the cost and then the company reimburses the employee.
When you’ve got endless to-do lists and things to remember, getting a chunk of money to take care of relocation costs feels fair. It allows you to make your plans in a way that suits you and allowance-based move payments can be generous. However, when the money is spent, it’s spent.
Getting an allowance for relocating also places the impetus on the employee to work their way through immigration requirements or maybe even finding the right school for your children so that they can feel settled as soon as possible.
Allowance-based moves assume a lot of knowledge about relocating in general and relocating to a destination in particular. It means that you may not be able to leverage the specialist knowledge that would smooth your path and make such a big change a little less enormous.
But is there an alternative?
Meet Supported Relocation Services
At K2, we’re dedicated to making sure that the relocation experience is positive and ensures that you are set for success when your new role starts. Working with K2, your specialised and experienced Relocation Manager will help you understand what decisions are to be made and when. Well-versed in relocating, your Relocation Manager will help you to navigate the costs of relocating, helping you to find the right house in the right area so you can embrace your new opportunity. Rather than simply channelling money into the move, we help you to assess your choices and make decisions that work for you, spending budget meaningfully and with impact.
While much of relocation is about making positive choices around neighbourhoods, homes, schools and lifestyles, making sure that paperwork is completed properly and in good time can introduce more stress into the process.
Working with You Behind the Scenes
In addition to your Relocation Manager, you may also need the support of a K2 Immigration Consultant to help you through the paperwork side of the journey. Moving to some territories can be easier than others, although there is always benefit in working with someone who understands the systems inside and out.
As well as offering direct support to relocation Assignees that are in the process of making their move, we also offer advisory services that places us in easy reach whenever you need us, whether it’s an unforeseen issue or a quick question. We can also act as Assignment Management, becoming a part of your internal team on a short- or longer-term basis to oversee a period of relocation or even a one-off but complex set of moves. Our Relocation Accounting team can also make sure that expense management stays on track, with a comprehensive understanding of the types of costs associated with relocation all over the world.
Best Placed Budget
With Allowance-Based Moves, you may find that you have to pay a financial cost if you change your mind after the move – whether that’s a different property or moving your belongings from site to site. It’s extremely hard to make the right decisions when you’re still getting the lay of the land; that’s why our specialists will walk you through the options and help you understand your choices.
We know that your people are important to you and we’re ready to help their relocation be the positive and life-changing experience that you want it to be for them. Get in touch with our experts.
