Moving for work can be an exciting prospect. Especially when it’s for a new and promising job. Unfortunately, though, it’s expensive. Negotiating a relocation package along with your new job offer can help offset this cost, making the job opportunity worth the move. Here’s how to do it.
Your move can mean many things. It might mean an opportunity to take a step forward in your career. Or it could be an exciting new role you’ve been wanting to take on. But while it might be a good career decision, you need to weigh the financial and personal implications of your move.
What’s the cost of living in the new city compared to where you’d be moving from? If you are moving with your family, is the move the best thing for everyone? How much will the move cost you and how will it impact your future finances?
Before you get into negotiations with the company it’s important to find out if they offer a relocation package or not. Get in contact with the HR department of your new company and ask what sort of job relocation package they offer. If you know anyone at the company who recently moved, you could reach out for some advice. If you went through a recruiter to get the job, the recruiter could also offer assistance with sourcing information as well. Some official company websites might even have the information you are looking for. While medium and large-sized organizations tend to have an official policy for relocation packages, smaller organizations and startups might not. If the company has a relocation package you don’t find altogether satisfying, you can negotiate it. If they are not accustomed to offering a package, you’ll have to negotiate from scratch. It’s important to have a sense of where the company stands on relocation packages so you know how and where to start with your negotiations.
Often companies offer relocation packages by paying a fixed amount of money to assist with what you need or reimbursing all or some part of your expenses after you’ve made the move.
The content of a company’s relocation package differs from company to company. While some may offer a lump sum of money to assist with the move, others offer a package that details specific costs they are willing to help with. It will also exclude the costs, they aren’t. Knowing what a standard job relocation package entails will help you understand what you can ask for when you start negotiations.
Keep in mind that companies tend to vary in what they offer, however, the following items are usually covered:
If the company offers a relocation package, decide whether or not it’ll be enough to ease the moving process and make the relocation worth it. If it isn’t, or the company doesn’t offer one you need to make a list of the things you’d need help with before beginning negotiations. Prioritize according to what is most important to you. Consider the things that might pose as deal-breakers. Everything from housing allowance and moving costs to smaller items you don’t mind losing out on during the negotiation process (a percentage of flight costs covered as opposed to a large allowance).
Before starting negotiations, you should know that there is no obligation for an employer to cover your moving expenses.
Regardless of what might be in a company’s relocation package, you can always negotiate. Don’t be afraid to ask for what you need! Even mention the things you think you could handle on your own. That’s what negotiations are all about.
Explaining to your employer how the relocation package will also be beneficial to the company is a great way to give yourself an edge during negotiations. For instance, promising to start earlier on the job than previously agreed. Or how not having to stress over the move will boost your productivity at work.
Be very clear about what you need and what you want. If you are asking for financial assistance, you need to present actual quotes on specific things. For instance, the cost of house hunting, moving and relocating. Gather quotes from as many moving companies and agents as possible. Be firm and weigh your options carefully.
Once you come to an agreement with the company, make sure to get it all in writing. It doesn’t have to be anything elaborate. A simple letter or email detailing what has been agreed on works great. Others may choose to have it written directly into their employment contract to be sure that both parties completely agree.
It’s important to consider the job relocation package carefully before you accept it. Not just the financial implications but the mental implication on you and your family as well. Even after you’ve settled on a relocation package, moving can still be a hectic process.
Moving into a furnished apartment instead of moving all of the furniture in your old apartment to the new one can save you some hassle. Blueground has a large number of thoughtfully furnished options all around the world that you can pick from. The monthly rent is inclusive of furniture, furnishings, appliances — down to linens and decorations too.
This can all be communicated to your employer and leveraged during relocation package negotiations. The Blueground booking process is also quick and simple, letting you concentrate on getting settled in your new city and job.
All of this will ensure you have a smooth and successful relocation.