Things to consider before a corporate relocation
A relocation can be a great move for your career and a chance to experience a new culture entirely; however, the size and magnitude of the change means there is a great deal to consider beforehand.
Your employer will have factored in the costs of transport, moving, container shipping and immediate rent, plus the changes to your employment benefits package if you have negotiated a rise as part of the relocation. Many businesses will use professional employee relocation services to keep costs well managed and to ensure a quality service.
As the employee relocating, obtain all the relevant information about the costs that are included in the package; for example, there may be visa costs, custom fees, extra phone costs during the transfer, flights, hotels, rental cars, and the general costs associated with settling in. Negotiate hard to make sure you won’t be out of pocket.
It is also sensible to speak to a tax advisor about how an overseas relocation will affect your finances in terms of taxation, pension, national insurance contributions and so forth. Make sure you are planning for the future and are aware of the financial implications.
Finances are often the first area to become a problem for staff who are relocating. Sometimes errors occur as part of the administration; therefore, it is vital that any agreements you make with your employer are documented in writing and built into your paperwork, perhaps using a specialist relocation service such as http://www.dtmoving.com/relocation-services.
Consider the practicalities; for example, will the relocation role advance your career in a direction that makes sense or are you willing to forgo the career leap to experience life abroad for a spell? Think about your family, if you have one – will they want to move with you and are there suitable schools and facilities nearby that suit a family’s complex needs? What will you do with your home while you are away, and your larger possessions? Will you need to factor in the cost of storage?
The more you can plan ahead, the easier your decision will be. It can also be very helpful to speak to colleagues who have relocated previously and who can share their experiences with you and give any advice and guidance to help make your intended move a success.