Posts Tagged ‘Relocation Services’

Facts and Industry Statistics: Part One

Thursday, July 21st, 2011

U.S. domestic transfers: Relocation statistics

Worldwide ERC members represent the large majority of organizations that manage significant relocation programs. 2009 U.S. domestic relocation statistics: 

  • $25 Billion: amount spent annually in U.S. on corporate relocation
  • $15 Billion: amount spent annually in U.S. on corporate relocation by Worldwide ERC® member corporations
  • $16,110,641: average annual amount each company spends to transfer its employees.
  • 287,000: annual number of U.S. domestic transfers from Worldwide ERC® member companies
  • Of the 287,000, approximately 1/3 are new hires (94,710) and 2/3 are current employees (192,290).
  • Of the 287,000, approximately 50% are homeowners and 50% are renters.

Costs of U.S. domestic transfers*:

Current Employee Homeowner          $90,017
New Hire Homeowner                       $66,610
Current Employee Renter                  $20,750
New Hire Renter                              $17,877
Based on 2009 data

U.S. domestic transfers: Cost of shipping household goods:

2009 – $11,900

2007 – $11,680
2006 – $10,342
2005 – $9,514
2004 – $10,387
2003 – $9,745
2002 – $9,658

These costs vary by family size (bigger families typically have more household good to move) and homeowner status (homeowners typically have more household goods vs. renters).

A Healthy Attitude toward Relocation: Part One

Tuesday, July 19th, 2011

The practical benefits of health-insurance are undisputed, but it’s equally vital in the battle for hearts and minds of employees relocated overseas. When it comes to protecting individuals who are being  relocated overseas, health care is a major consideration. While certain parts of the world have health standards that are every bit as good as – and possibly better than – they are in the US, there are some decidedly dodgy places, health-wise, where one can wind up, too. Employees need to ensure they’ve got all the facts at their fingertips regarding health set-ups in the country they’re going to, prior to actual global relocation. And of course employers need to assure them that the necessary systems are  in place should they become ill or have a medical emergency overseas.

First and foremost, those being relocated need to sort out health insurance – and the type they choose, or their company chooses for them, will depend upon their individual needs and those of family members. No one should ever assume that domestic coverage alone will prove adequate – it won’t, for the simple reason that domestic coverage means just that – so it’s highly unlikely to cover, say, emergency medical evacuation from a foreign country. For peace of mind, employees need to know that they can get out of their location fast if need be.

Other benefits to think about when choosing international medical insurance include prescription-drug coverage and wellness. While some plans cover ‘bells and whistles’ options – like flying employees home in required – they won’t of necessity cover routine examinations and check-ups. Employees who’re likely to require this service need to check it is covered in their policy.