Guest Blog Contributor - Chris Hunt
It’s not unusual for HR, corporate relocation, and/or procurement professionals working within an organization to split up corporate moving and relocation service offerings and handle different pieces of the equation differently throughout the organization. One department touches this part of a new hire offer and relocation needs, another department touches another part of an existing employee’s corporate relocation, and another department often works to oversee temporary housing, transportation, and other needs that are an integral part of a corporate relocation.
Is it good for the relocating new hire or employee transferee? Maybe. Is it good for the company? Maybe. But once you take a deeper look, it’s not an unusual end result that working with multiple vendors can create multiple layers within an organization as it relates to corporate relocation, and that can cost the company big bucks. We had the opportunity to work with one of our client’s moving and corporate relocation team and do an analysis of single vendor moving and corporate relocation versus the multiple vendor approach they had been using.
The results of that analysis were captured in a case study: How Single Vendor Moving and Corporate Relocation Can Result in Big Savings. The challenges we set out as part of the analysis and captured in the case study included:
- Reducing time spent for corporate relocation on the part of employees (and reducing the time spent in temporary housing);
- Increasing cost efficiencies through a variety of tactics;
- Developing vendor partnerships that would benefit the organization;
- Capturing single source efficiencies;
- Reducing risk associated with corporate relocation and cross-country moves;
- Increasing employee satisfaction.
After the analysis and implementation of a single source vendor process for moving and corporate relocation, the client realized significant cost savings, efficiencies and, perhaps most importantly, an increase in satisfaction for relocating or transferring employees during what is arguably one of the most stressful life experiences of all. Happy employees, safer corporate relocation processes, improved employee retention—these things are a major win for both employees and management.
Our client discovered that it’s never a bad idea to examine existing corporate relocation policies and procedures with a view toward how they might be handled differently, more efficiently, and in a less siloed fashion. In light of the recent tax reform that has completely eliminated the household goods moving deduction, now might be a great time for you and your team to do a similar analysis and look for efficiencies and cost savings. Want help? Our team is at the ready—feel free to reach out to me directly, I’d love to talk more.
Want the case study? Download it here: How Single Vendor Moving and Corporate Relocation Can Result in Big Savings
Chris Hunt is the Co-Founder, CEO, and General Counsel at First Class Moving Systems, an agent of North American Van Lines, headquartered in Tampa, FL. Chris is also on the board of directors and executive committee for the North American Mover's Association (NAMA). Chris and his team provide employee relocation and corporate mobility consulting services to clients in the corporate and government sectors. He's an expert at workforce alignment, global mobility, and logistics. Find Chris on LinkedIn here.
Other resources on this topic:
2018 Tax Reform: What Corporate Mobility, HR Pros, and Senior Executives Need to Know