- The cost of moving workers globally weighs heavily on the minds of employers, especially in the U.S., U.K. and China, according to a recent survey.
- On the bright side, relocation industry leaders point out that there are some smart money-saving strategies managers can use, including conducting a detailed line-item review of policies, which can eliminate duplicate allowances, and adjusting benefits and yield savings, said Tim O’Shea, vice president of consulting services at Aurora, CO-based Graebel Relocation.
- Cartus, a global relocation service provider, reports that 78% of 148 mobility managers worldwide cited controlling relocation and assignment costs as the biggest industry challenge, followed by complying with laws and regulations (62%) and dealing with compensation-related issues (44%).
The United States ranked as the most challenging country for trying to rein in expenses, with the U.K. and China next in line. Removing relocation benefits like house scouting trips and trailing spouse assistance as well as providing cheaper tiers of benefits for specified groups of employees also can cut costs.
Although cost control remains the top concern for mobility managers, those concerns do appear to be subsiding, as 54% of respondents said the need to control costs is about the same as last year. Only 45% said it is a bigger concern than last year (compared with 57% who said so in 2014 and 76% in 2010.)
Regarding compliance issues related to relocation, such as visa waits, Matt Spinolo, executive vice president of global client services at Cartus, says it's a good idea for relocation managers to meet with HR and business leaders on a quarterly basis to set proper expectations for visa timing and complexity.