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|12th March 2010, 13:00||#1|
Senior - BHPian
Join Date: Feb 2007
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Regarding benefits offered to an employee on relocation...
Would like to know what are the benefits/allowances a organization offers to its employee's who have to relocate?
Just like to know what are the common practice followed these days?
|12th March 2010, 13:14||#2|
Join Date: Nov 2008
Thanked: 111 Times
The relocation policies are not the same among MNC's..
Some of the relocation policies in my company:
Company will bear the change of registration cost for two/four wheelers if the employee does an inter-state relocation. Money will be taken back if the employee fails to complete one year in the new locations.
Transfer of house-hold items, A to Z. No limit, but get prior quotation from 3 packers & movers & go for the lowest offering.
Company absorbs the penalty incurred or loss due to lease breakage in the old location.
Company reimburse the first one week expenses on food and accommodation.
Bonus if willing to move to a certain location.
Last edited by Mr_Bean : 12th March 2010 at 13:16.
|12th March 2010, 13:24||#3|
Senior - BHPian
Join Date: Oct 2006
Location: Mumbai - The city of Sea Link!!!
Thanked: 331 Times
With in the country or outside the country. These 2 are key things to be considered while replying to this thread. I am in the business of relocations so can give tips accordingly.
|12th March 2010, 13:25||#4|
Senior - BHPian
Join Date: Sep 2008
Thanked: 19 Times
I can share what our company (one of the top Brands in the world) provided to me and my 15 colleagues who had to relocate to bangalore during 2006 second half till march 2007.
1. one to and fro air travel, plus stay for 3 days prior to actual relocation for self and family for house hunting, school hunting etc This was actually combined with some other official event of the company.
2. Interest free loan towards the security deposit for the rented house, this was deducted form the salary over 12 months
3. Assistance to get the information about the schools
4. an agent to find the rented houses, get the vehicles registered etc. The servcies were paid by the company.
5. Airtickets for self, wife, children during actual re-location.
6. transportation and insurance expenses at actual for household goods
7. Disturbance allowance to take care of extra expenses during the first 15 days of relocation. this included any hotel stay needed during the first 3-5 days of relocation due to unavailability of household goods etc.
8. if the person owns a vehicle (2 & 4 wheeler) the lumpsum allowance to take care of transportation, re-registration, taxes etc. maximum of one car and one two wheeler.
9. 10 days of leave for actual re-location.
10. a window of over 6-8 months was provided and emplyee can relocate during that window depenging on his family needs. during this 6-8 months
the emplyee continued to work from the orignial location and traveled to Bangalore whenever needed for business reasons.
11. Some nominal Bonus for relocating (only for junior guys)
If the person leaves the company with in 12 months of relocation, the company reserves the right to deduct all the expenses, alloance and bonus paid due to re-location.
Generally it depends on the supply Vs demand gap, the urgency of relocation, company policies, HR practices and also the leverage one's manager can excercise with the policies. Good companies have
consistent polices across the designation or level of employee within the hierarchy.
Last edited by StarVegabond : 12th March 2010 at 13:30.
|12th March 2010, 15:15||#6|
Distinguished - BHPian
Join Date: Jul 2007
Thanked: 3,244 Times
and meanwhile the world has changed. I have recently read many job advts for 4-10 yr exp MBA jobs which clearly mention local candidates only / no relocation.
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