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In considering an employee that will require assistance with corporate relocation, a company needs to take into consideration whether or not the cost of the relocation are going to be worth the expenditure. Today, with the economy having declined and the myriads of potential employees rising, companies are fortunate enough to have plentiful amounts of qualified candidates applying to job listings.
If you find an employee that has the exact character and qualifications that you are seeking, but it would necessitate a corporate relocation in order to get the employee closer to the job, is it worth it for the company? As a human resources professional, I say yes. If you have done your research on the prospective employee, including reference checks, background check, and qualifications check, and all signals are pointing at that person, you should follow your gut.
Bearing in mind that corporate relocation for one employee cost an average of $ 50,000 for the average home-owner, and that the employee probably doesn't have the immediate funds to cover the whole relocation, so there are going to need to be some guidelines. Figure out the budget that your company is willing to spend on the relocation. Present this to the employee. You may find that the employee has come up with their own budget that they can allocate to the move.
Preliminary steps should be taken to ensure that the relocation is successful. A trip to house hunt-or apartment shop needs to be incorporated in the budget for relocating. One can't be expected to move without researching the area and finding a new domicile to reside. As small a step as this may seem, the expenditure should encompass the fact that taking a lease out in a new apartment or closing the deal on a house will take time, and time is money when it comes to corporate relocation. This trip itself can cost in the thousands. As the company hiring, you need to be prepared to give the employee the time (and resources) they need to get started in a place that they are unfamiliar with.
Assuming the preliminary step is taken and goes well, the actual relocation can take place. In order to get a clear definition of what either party is going to be responsible for, the employee should come up with a proposed list of expenses and submit this to the company. The company should then in turn check off the expenses that they are willing to take a share in. Once these items are agreed upon, actual figures of what each line item will cost must be established. Again, the company needs to request this from the employee. Negotiations will be pursuing from there in order to come to a happy medium for both the employee and the company for the corporate location. Be prepared to pay a figure in the tens of thousands.
It isn't unusual for negotiations to take time, as well. If you're sure you have found the perfect one for the job, how much are you willing to spend? To misquote the popular Mastercard commercial, the perfect employee could be "priceless".
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