So, you’re ready to hire someone for a tech job. They’re the perfect candidate, but they’re currently located in a different country. If you want to improve the odds that they’ll accept your offer, you’ll need to offer them a relocation package, as it can be difficult to move to a whole new country without some support.
In this article, we’ll discuss how to design a useful and appealing relocation package. Read on to learn all about it.
Relocation packages are optional benefits that are nonetheless a necessity if you’re seriously interested in expanding your search to include foreign candidates. Moving to a new country is expensive, both financially and psychologically, and supporting new employees during this process will help them start off on the right foot.
Relocation packages aren’t standardized in any way, so as an employer, you’ll have to design your own assistance package, based on your company’s finances as well as your goals and culture. But no matter your size or limitations, it’s always a good idea to offer something, as it’s a great way to make your new team members feel welcome and cared for, which in turn is good for the company’s culture, and ultimately, the bottom line.
Let’s take a look at the most common benefits that tech companies offer in relocation packages, so you can decide what to offer to your new hires.
Here are some of the common components that companies include in relocation packages. They’re chosen to reduce the logistics and stress for your new employees that are moving from abroad.
Getting a work visa is an important part of moving to a new country, and there’s usually a lot of paperwork involved. Providing the visa sponsorship paperwork and helping to fill it out and file it can take a big burden off of your new employee.
This is one of the most important factors that people look for in a relocation package when they’re searching for possible jobs abroad, according to our recent poll on Telegram. Assisting with work permits or visas will demonstrate that you’re committed to supporting foreign employees.
Another very helpful part of a relocation package is simply covering travel costs. A one-way plane ticket for at least the employee themselves, or more generously, their family as well, is a nice benefit to include.
This can include a variety of things, including:
A foreign employee’s transition to a new country doesn’t end with their initial move. On-site assistance is a catch-all category for benefits you can offer after the move. These may include:
There really isn’t a limit to what you can include in a relocation package, such as:
Relocation packages can be paid out to a new employee in a variety of ways. These models can also be combined for various parts of a comprehensive package.
A lump sum relocation package provides the employee with a fixed amount of money that they can spend as they see fit to arrange their move, whether that’s plane tickets, rental fees, or other costs. Many international job seekers say that this would be their preferred type of relocation package, as they can conduct their move in the way that suits them best without having to track and itemize every cost.
In a reimbursement plan, you agree to pay your employee back for up to a predetermined amount for their moving expenses. This may include stipulations about what kinds of expenses can be reimbursed. They will be responsible for covering everything up front, and then your reimbursement will cover some of that cost once they’ve completed their move.
This option sees you paying relocation service providers, such as movers, hotels, or real estate agents, for their services directly, rather than providing your new employee with the money up front or reimbursing them after the fact. This can help make the relocation process easier for the employee, as they won’t have to deal with these costs at all, and you may have more financially expedient options available to you as an employer.
You also have the option to hire a third-party company to manage the logistics of the move for you and your employee. These companies can handle temporary housing, transportation for the employee, their family and their belongings, and other logistic support during a move. This option can take a lot of the stress out of an international move.
Accepting a new position abroad is a big decision, and by providing clear information about what you’ll provide in your relocation package, you’ll be helping potential new foreign hires make the right choice.
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