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Whatever you think it'll cost, it'll probably cost more. According to the Worldwide ERC®, in 2012 companies spent an average of $19,303 to move a new hire renter and $70,000 to move a new hire homeowner.
There Is No Obligation for Employers to Cover This Expense: No laws require moving assistance. Employers may offer it as a perk at their discretion. When Offered, Job Relocation Packages Vary: Some will offer a lump sum, while others will ask you to track your receipts for reimbursement.
These costs typically include air fares, hotels, meals etc. Home sale/lease break costs: Relocation allowances may cover the cost of arranging for the rental or sale of the expat's property in the home country, or cover the costs of terminating a lease.
A core or typical job relocation package usually covers the costs of moving and storing furnishings and other household goods, along with help selling an existing home and costs incurred house hunting, temporary housing if necessary and all travel costs by the employee and family to the new location.
What Are Moving Expenses? Basic categories of qualifying expenses include costs to pack and ship personal possessions, temporary storage fees, and transportation costs. Sometimes companies will pay for the relocation of its employees or new hires. However, there is often a cap on the amount.
”An average relocation package costs $21,033. (Figure 16) While smaller companies, in general, provide less valuable packages averaging $10,971 there are exceptions.
As far as relocation benefits go, they are among the best in the industry and comparable to other large coma Adding to Shakthi Kumar and Vivek Pandey answers for the US. Amazon also includes a $5000 lump sum to pay for various incidentals like car registration, new DL, etc.
As prior stated, a relocation package is a package provided to your employees to cover the costs of relocating to a different city. Potential employees will appreciate a generous relocation package, but sometimes that might not be in your company's financial reach.
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