Employee Relocation Costs
International Employee Assignment Budgeting
Setting a budget for planning, tracking, accruals, or permissions purposes for relocation costs can be a tricky business. International employee and expatriate assignment budgeting includes relocation services, logistics, immigration, timing, and productivity considerations to ensure that there are no surprises as corporate relocation costs become payables.
Kinetix takes a comprehensive approach, building budgets and cost estimates based upon the entire assignment life cycle. We use current actual costs and survey-based information that are built upon the needs of the assignee and family to provide a real, current, reality-based cost outline.
In the event your program needs to pre-budget to evaluate a strategy, we can build estimates based upon historical data and current vendor outreach. Kinetix also provides on-assignment reporting, and can provide clear instruction on how best to evaluate an assignment’s Return on Investment.
Assignment Cost Estimation – Employee Relocation Estimates
Employee relocation estimates are founded on policy application and needs assessment to determine overall international assignment cost. It’s critical to balance current markets, employee and family needs, and program benefits and limitations to get a real idea of the costs you may see throughout the relocation. Employee Relocation Estimates, and items like service and housing costs may shift due to changes in local and global markets, changing family needs, and even changes in your company’s objectives for the assignment.
It takes an engaged discussion, and a keen eye to the details that every assignment entails. Kinetix’s Relocation Program Managers are well versed in evaluating needs, matching them to program benefits, and building out accurate employee relocation estimates to ensure you have a clear picture from assignment and transfer start to finish.
International Assignment Cost – Employee Cost of Living Adjustments
As conditions and economies change, so may the ongoing international relocation costs that each assignment generates. Expatriate Relocation Costs include allowances that are set using data generated at the beginning of the assignment. With assignments lasting anywhere from a few months to a few years, allowances need to be revisited to ensure that they are properly set.
Kinetix collaborates with global data providers that provide constant updates to key costs for housing, food, and other essentials, and include currency fluctuations and changes in tax cost to ensure that your allowances are on target. Through rigorous attention to data, and the application of a system that tracks impactful changes to allowance levels, Kinetix ensures that your key talent’s needs are met, and your company costs are exactly where they should be, regardless of location.
Foreign Housing Costs & How To Understand The Local Housing Market
There are an almost infinite number of housing markets out there. Foreign housing costs vary widely, and can require constant attention when operating in multiple markets. And just when you have one international housing cost set figured out, markets and conditions can change requiring a whole new data set. Kinetix has local contacts throughout the U.S. and around the world, giving us immediate access to domestic and foreign housing costs.
From setting an assignment budget, to the ongoing negotiation and payment of rents, our Relocation Program Managers have access to resources that give updates and quotes in real time, based upon the right locations and housing types. Kinetix also provides multiple housing options to determine corporate housing cost, long term employee housing cost, and specific quotes per location, giving you and your employees the information to make the best choices, wherever they may be.
Keeping Corporate Relocation Costs Down
Assignments and transfers all come with their own set of needs, challenges, and solutions. Even within the confines of specific policies, costs can vary significantly from one case to the next. It’s important to have someone looking out for you, and Kinetix does just that. Kinetix’s Relocation Services Delivery experts are always in tune with the best possible solutions for each need, and make sure that the options chosen are not only compliant to policy, but deliver the best possible value.
Keeping relocation costs down while enhancing the employee experience is our goal. From our U.S. and Global vendor network, held to strict performance, cost, and service-level agreements, to the audit and evaluation of every associated expense, we leverage our expertise and relationships on your behalf to keep corporate relocation costs reasonable.
The other way we work to reduce corporate relocation costs is embedded in our very structure. Kinetix is a lean organization. Through 30 years of refinement, we have peeled away the administrative burdens of tasks outside of our core competencies, to build the flattest and most efficient delivery structure in the industry today.
International Moving Company Quotes
Kinetix manages tens of thousands of moves annually, for an extremely diverse set of clients. Global Governments, Non-Governmental Organizations (NGO’s), Corporations, Start-Ups, and individuals all reach out to Kinetix for international moving company quotes, for everything from complex global logistics support to a single new hire move out of college to their first job. They seek our expertise in vendor and process management to keep international moving costs down while ensuring the best possible move experience. Our decades-old relationships have allowed us to fine-tune an extremely capable service group and vendor network for your benefit, mapping capability, needs, and international moving companies cost. Our Domestic and International delivery team members have an average tenure with Kinetix of over 15 years, and many have been in the industry for over 20.
For an accurate and comprehensive quote on moving services or full comprehensive relocation services, reach out to Kinetix today.
Area Evaluation and Selection
Kinetix understands that navigating host location regulations, social, cultural and language differences, new surroundings, and local resources can be difficult and frustrating. Kinetix has partnered with on-the-ground experts throughout the world to provide critical support services including area orientation, home finding assistance, and settling-in as well as a comprehensive menu of family and spousal support programs. Program length can be tailored to the specific needs of the employee and family.
Immigration Support
Kinetix provides flexible options in immigration support to match your program needs. We partner with the top immigration firms in the world to ensure that each employee and family receive the best possible guidance throughout the immigration process. The Kinetix Client Services manager will assist in compilation of documents, scheduling, and providing timely information in conjunction with the specifics of each case. From simple submission of social insurance documents and local filing to the most complex of cases, Kinetix covers them all.
Compensation Balance Sheet Creation
Talent Mobility programs constantly face pressure to be as cost-effective as possible, and yet provide the best possible experience. Kinetix provides in depth, expert analysis on how your program is performing, reviewing current real costs, time frames, policy, and exception data to formulate the best possible approach to move your program forward.
Setting budgets for assignments is challenging.
Kinetix can help you with:
● Relocation Services
● Timing
● Immigration
● Logistics
● Cost Estimates
● On-Assignment Reporting