Indiana Memo on Company Relocation including Relocation Pay for Employees
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How to fill out Memo On Company Relocation Including Relocation Pay For Employees?
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FAQ
A typical relocation package usually covers the costs of moving and storing furnishings, household goods, assistance with selling an existing home, costs incurred with house-hunting, temporary housing, and all travel costs by the employee and family to the new location.
The objective of the relocation policy is to provide financial and administrative relocation assistance. It is provided to a salaried employee in order to maximize their performance and minimize their inconvenience during the relocation.
What is Relocation Assistance? Relocation assistance occurs when a company assists new hires or current employees with relocating for work from one location to another, whether it's a new city, state, or country.
Ask your new employer's HR department if the company has a written relocation policy or if it offers standard benefits. Find out who at the company has recently moved, and ask about their relocation packages. Ask your friends or other contacts in similar firms about their experiences or their companies' policies.
How to write an employee relocation letterInform the employee.Determine the duration of the move.Discuss company coverage.Mention tax differences.Highlight potential bonuses.Reassure your employee.
Many companies offer to pay a flat dollar amount to help with moving expenses. For example, a company may be willing to pay $5,000 to each employee to help with moving costs.
Salutation. An introductory paragraph, including any downtime and closure/re-open dates due to moving. A follow-up paragraph that includes any changes in service due to moving. New contact information that will take effect after the move.
Through this letter I would like to inform you that I have been working in your company for last (duration) and due to the reason (reason promotion/ field job) I was transferred to (branch) located (city) for which I had to relocate to the mentioned city.
The average relocation package costs between $21,327 and $24,913 for renters and between $61,622 and $79,429 for homeowners, according to a 2016 report by Worldwide ERC, a relocation services trade group.
A typical relocation package usually covers the costs of moving and storing furnishings, household goods, assistance with selling an existing home, costs incurred with house-hunting, temporary housing, and all travel costs by the employee and family to the new location.
