Relocation Package: What’s Typically Included?
It’s another regular day when an email arrives in your inbox about a new internal job opportunity. The HR is really selling this role to you. The only caveat? It’s in another state or even country. But, you shouldn’t be worried, the email says, our company offers a great relocation package.
What is a Relocation Package?
A company relocation package is a combination of services and/or financial arrangements like cost reimbursements and various allowances new hires receive when moving for a new role. In simpler terms — it’s an extra employer perk to compensate for the inconveniences and costs of changing zip codes.
According to an Atlas Survey, the most common groups of workers who receive relocation offers include: Executives and tenured professionals. But a good fraction of entry-level employees and new hires in large companies also get lump-sum assistance.
Source: Atlas Survey
Overall, 53% of companies offer at least some relocation support to employees (e.g., covering one specific cost like finding a new rental), Another 44% offer flexible use of full relocation benefits covering a range of services and allowances. …
