Articles & Whitepapers

Sharrell Kilgore, CRP, Joins NEI as VP, Global Client Development

14 October 2024 – NEI Global Relocation (NEI) is pleased to announce the appointment of Sharrell Kilgore as Vice President of Global Client Development for our Southern region.

In her role, Sharrell will confer with corporations on their relocation policies, processes and specific needs to demonstrate NEI’s ability to support their global mobility goals with innovative and cost-efficient solutions and advanced technology.

“All of us here at NEI are beyond excited to welcome Sharrell as VP, Global Client Development,” said NEI’s Pam Jacknick, CRP, GMS, Senior Vice President of Global Client Development. “She brings over 20 years’ experience, has incredibly strong communication, presentation, negotiation and leadership skills, and is gifted in establishing and maintaining interpersonal relationships.”

‍

Related Experience

Sharrell has a positive attitude that is unparalleled in our industry. Her energy and expertise are appreciated by all who know her.

Prior to joining NEI, she had more than two decades’ experience in all functions of new client development, strategic consulting and account management in Mortgage Lending, Real Estate and Relocation. Sharrell is an analytical thinker and creative problem solver who quickly adapts and thrives in new and challenging situations.

Sharrell resides in Texas and is actively involved in multiple regional WERC groups, including serving as President of the North Texas Relocation Professionals and, previously, the Houston Relocation Professionals Board of Directors.

She earned her Certified Relocation Professional (CRP) certification from WERC, has a Bachelor of Business Administration in Marketing from the University of Texas at Tyler and an Associate of Arts in Business Administration from Tyler Junior College.

Welcome to NEI, Sharrell!

‍

Omaha, NE October 2024 – NEI Global Relocation is proud to announce the winner of its prestigious 2024 Service Partner of the Year award, recognizing outstanding performance, unwavering support, and remarkable innovation in the field of global mobility services. This year’s recipient, Interconex, Inc. has set itself apart in numerous ways, making it a clear frontrunner among many deserving partners.

NEI has enjoyed a long-standing and valued partnership with this company, which has consistently provided top-notch services that benefit both NEI and its clients. Over the years, this partner has demonstrated a commitment to NEI’s success by delivering reliable support and solutions that exceed expectations. In 2024, they went above and beyond, distinguishing themselves as the first in their service category to introduce an incentive program specifically for NEI, further solidifying their dedication to our success.

One of their most impressive feats this year involved a monumental, data-driven task that required precision, dedication, and a deep understanding of NEI’s needs. Their efforts not only led to outstanding results but also enhanced NEI’s ability to remain cost-competitive and provide well-informed solutions to our clients. The partner’s extraordinary performance empowered NEI to make strategic decisions that have been invaluable in maintaining our market leadership.

Additionally, this year, the partner faced a complex RFP scenario where their initial pricing was not as competitive as other contenders. Rather than retreat, they embraced the challenge with a problem-solving mindset. By presenting an innovative solution with competitive pricing, they helped NEI win the RFP and secure new business—a testament to their ingenuity and collaborative spirit.

Their consistent Can-Do! attitude and solution-oriented approach embody NEI’s mission of Service Exceeding Expectations. Each interaction with this partner reflects a shared vision of excellence and dedication that makes them an essential ally in NEI’s continued growth and success.

“Our service partners play a pivotal role in the success of our operations,” said Andy Dyer, Director of Procurement and Global Service Partner Relations. “Interconex’s outstanding dedication to excellence, responsiveness, and their willingness to consistently go the extra mile make them a valued partner and a truly deserving recipient of the NEI Service Partner of the Year award.”

Interconex's exceptional performance aligns perfectly with NEI's core values, making them an outstanding choice for the 2024 Partner of the Year award. NEI congratulates Interconex on their well-deserved recognition!

Omaha, NE October 2024 — NEI Global Relocation, a leading full-service relocation management company, proudly recognizes the exceptional achievements of its Service Partners with the annual Service Exceeding Expectations Awards. These accolades are given to partners who have consistently demonstrated an unwavering commitment to exceeding expectations in service delivery.

The awards are conferred based on a meticulous evaluation of scorecard data gathered from the feedback of NEI account executives and transferees throughout the year. This comprehensive analysis ensures that the recipients are indeed setting the benchmark for exceptional service in their respective categories.

"Our Service Partners are an essential extension of NEI, consistently demonstrating their unwavering commitment to our mission of delivering Service Exceeding Expectations to our valued clients and their relocating families," affirmed Andrew Dyer, Director of Procurement and Global Service Partner Relations.

This year's winners, selected for their outstanding performance and dedication to excellence, include:

• Ward North American

• MiniMoves, Inc.

• Nelson Westerberg

• Rocket Mortgage

• Corporate Living

• Synergy Global Housing

• CWS Corporate Housing

• GlobeSpec

• IPR Consulting

• LARM USA, Inc.

• REA – Partners in Transition

• Aperian Global

• IOR Global Solutions

• @ Properties | Christie’s International Real Estate

Congratulations to each of these distinguished companies for exemplifying NEI’s mission of providing Service Exceeding Expectations. Their commitment to excellence sets a standard that inspires the entire industry.

Omaha, NE October 2024 — NEI Global Relocation, a global leader in full-service relocation management, is proud to announce the recipients of this year's Own It! awards. These awards celebrate the exceptional dedication and commitment of service partners who embody NEI's core philosophy of Own It!

The Own It! awards recognize partners who consistently go above and beyond to ensure client satisfaction and demonstrate a proactive approach to every opportunity. NEI's Own It! philosophy emphasizes offering value, instilling confidence, and taking responsibility to inspire a positive and productive relocation experience.

Andy Dyer, Director, Procurement and Global Partner Relations at NEI Global Relocation, expressed his enthusiasm for this year's recipients, stating, "We are excited to honor these outstanding relocation partners who truly embody NEI's 'Own It!' philosophy. Their dedication and commitment to excellence strengthen our partnerships and ensure we continue delivering exceptional service to our clients."

The 2024 Own It! Award recipients are:

Corporate Living

Corporate Living, led by Henry Gager and his team, has consistently embodied the Own It! principles throughout various relocations. When a prospect company required urgent intern housing across five U.S. cities, they swiftly stepped into action. In just one business day, Corporate Living delivered the necessary solutions, demonstrating speed, efficiency, and commitment. This quick response not only earned the client's trust but also secured a successful partnership. Corporate Living’s ability to consistently provide value, take ownership, and act with a positive 'OWN IT' attitude is what sets them apart in the industry.

AltoVita

AltoVita has set a new benchmark in global accommodations. Delivering solutions 53% below budget, they saved NEI clients $1 million while maintaining an exceptional 100% customer satisfaction score. Their expertise in advanced real-time analytics and operational excellence enabled seamless relocations across the USA, EMEA, and APAC, with standout performance in Japan, where they sourced accommodations 20% below budget. With an impressive booking conversion rate and zero cancellations, their unwavering commitment to quality is undeniable.

NYC Navigator

NYC Navigator’s actions exemplify the human impact of global relocation services. When a relocating employee from Brazil faced the possibility of terminating her U.S. assignment due to her husband’s difficulty finding suitable employment, this service partner took immediate action. Despite being work-authorized, the husband struggled to find a position, leaving the family under financial strain while caring for a child with a heart condition. The service partner stepped in, making cold calls to local restaurants, securing job interviews in Portuguese, and providing resources for English lessons. Their relentless effort resulted in the husband finding employment, allowing the family to stay in the U.S., and preventing a costly failed assignment for the client. For their initiative, persistence, and unwavering support, NEI proudly honors NYC Navigator with the 2024 OWN IT award.

Home Sweet Home

Home Sweet Home truly embodies the OWN IT values in every aspect of their work. Faced with a challenging pre-move downsizing and decluttering project, this partner took swift action, transporting donations directly to Volunteers of America after each session. The relocating spouse, though exhausted after a five-hour process, greatly appreciated the unwavering support. This outstanding dedication brought relief to the family and exemplifies the commitment NEI values in all its partners.

Bernstein Realty

Berstein Realty played a key role in clarifying the complexities surrounding the National Association of Realtors and Department of Justice ruling. Their ability to simplify the changes and explain the various implications for Realtors and Relocation Management Companies provided invaluable clarity to NEI's teams, who manage home sales and purchases for clients daily.

Rawson Realty

Rawson Realty played a pivotal role in a major group move from Chicago to Charlotte. A dedicated Rawson Realty rep stood out for her exceptional support, making herself available from the very beginning by participating in early discussions with the client and transferees. Her devotion extended beyond these initial stages as she continued to assist many transferring families, ensuring a smooth transition and helping them acclimate to their new surroundings. We are deeply grateful for her outstanding contributions, and willingness to OWN these moves.

Premia Relocation Mortgage

NEI sought assistance from Premia Relocation Mortgage for a client's group move, and they responded by swiftly developing tailored resources, including two websites featuring a unique client policy-specific MIDA calculator. Premia not only hosted on-site presentations but also provided training for other lender partners, all while adeptly adapting to evolving policies. This strong collaboration is further highlighted by the fact that 62.5% of MIDA-eligible relocating employees in the group move chose Premia as their lender.

Professional Organizing Relocation Consult GmbH

Professional Organizing Relocation Consult GmbH (ProForg) provided their exceptional support of four Malaysian international assignees relocating to the historic city of Wangen im Allgäu, Germany—a lesser-known expat destination with a challenging housing market. Through maximum effort and a dedicated team, this partner met every need by initiating an immediate housing search and organizing a special shuttle service. The property owner also played a crucial role, fostering a homey atmosphere and ensuring the well-being of the assignees. This seamless collaboration resulted in a transition that was not only smooth but truly exceptional.

Ace Worldwide Elite Relocation Services

NEI is grateful to Ace Worldwide Elite Relocation Services for their swift and effective response to a challenging transferee situation. On a Friday evening, a household goods delivery was scheduled for the following day, only for the transferee to discover that their new home was significantly smaller than expected. The experienced husband-and-wife service team quickly identified the issue: the cargo would not fit, and there was no storage included in the relocation package. Acting promptly, the team secured mini-storage, provided accurate cost estimates, and ensured all necessary approvals were in place, all while maintaining the original delivery schedule for a seamless transition.

Ward North American

A relocating employee's spouse faced a life-threatening allergy to common chemicals found in personal hygiene products while managing a cross-country move. Recognizing the urgency of the situation, a Ward North American Customer Service Representative took the lead, coordinating a meticulous plan focused on safety and precision. Over nine days, a carefully chosen van operator and their team successfully packed, loaded, and delivered 36,000 pounds of belongings without incident. Their "OWN IT!" approach—characterized by compassion, resourcefulness, and attentive listening—earned the family’s trust during this critical time.

CORT

CORT Destination Services supported a family relocating from Colombia to Green Bay, Wisconsin, in October. Upon learning that the family had no car seat for their baby, CORT not only purchased one but also delivered it to their hotel, ensuring safe transportation options. During their initial meeting, the team noticed the family was unprepared for the harsh Midwest winter, dressed only in flip-flops and t-shirts. Recognizing that the family was weeks away from their first paycheck, CORT rallied their network to gather donations of warm clothing and toys. For their life-changing, proactive support and unwavering commitment to the NEI OWN IT approach, we are proud to honor CORT Destination Services.

‍

Omaha, NE October 2024 – NEI Global Relocation, a pioneer in full-service relocation management, is pleased to announce the recipients of the 2024 NEI Innovation Awards: Icon and AltoVita. This year’s award winners have demonstrated exceptional innovation in their respective fields, pushing boundaries and setting new industry standards.

Icon Relocation Ltd.,has made a game-changing leap in relocation technology. By leveraging the power of Artificial Intelligence, Icon offers a tailored, efficient home search experience, simplifying the relocation process for clients and assignees. Their advanced data warehouse consolidates millions of property records, geospatial analyses, and operational insights, providing unmatched personalization and operational efficiency. This long-standing NEI partner’s commitment to enhancing the user experience through cutting-edge technology has set a new industry standard.

AltoVita has made remarkable strides in relocation technology over the past year. AltoVita has introduced several groundbreaking advancements, including an escalation dashboard and eco-stats for improved incident management and environmental impact tracking. Their integration with International SOS and Breezeway ensures enhanced relocating employee safety, while their Group Moves functionality and personalized housing options simplify complex relocations. With the upcoming 2025 release featuring real-time forecasting and benchmarking, this partner is set to further revolutionize temporary housing management. Their innovative contributions have elevated security, efficiency, and client satisfaction.

“Icon Relocation and AltoVita have demonstrated an extraordinary commitment to innovation and excellence in their respective fields,” said Andy Dyer, Director, Procurement and Global Partner Relations at NEI Global Relocation. “Their groundbreaking solutions, from cutting-edge technology to enhanced client services, are not only transforming the relocation industry but also setting new standards for efficiency, security, and customer satisfaction. The forward-thinking initiatives they’ve introduced have the potential to revolutionize how we approach complex relocations, offering significant value to our clients and their transferring employees. We are excited to see how their continued efforts will shape the future of global mobility.”

The NEI Innovation Awards, an esteemed recognition in the field of relocation management, acknowledge the remarkable strides made by service partners in driving progress and offering unparalleled value to clients.

NEI Global Relocation extends its warmest congratulations to Icon and AltoVita for their outstanding contributions and well-deserved recognition as recipients of the 2024 NEI Innovation Awards.

Omaha, NE October 2024 — NEI Global Relocation, a distinguished full-service relocation management company, proudly announces the recipients of the 2024 Corporate Responsibility Awards. These accolades celebrate companies that have exhibited exemplary commitment to philanthropy, environmental sustainability, and community service, reflecting NEI's dedication to creating positive impacts in the communities where we live and work.

The Corporate Responsibility Awards highlight the extraordinary efforts of companies in three distinct categories: Philanthropic Activity, Environmental Sustainability, and Community Service. This year's esteemed winners are:

Rocket Mortgage

Rocket Mortgage has made its company mission to combat homelessness, prevent displacement, promote wealth through homeownership, and close the digital divide, particularly in Detroit, where veteran homelessness has decreased by 54% since 2018. In 2023 alone, the company enrolled over 150,000 residents in the Affordable Connectivity Program and recycled 172,194 pounds of e-waste. Their efforts have expanded to cities such as Cleveland, Milwaukee, and Atlanta, where they collaborate with diverse partners to address complex housing challenges.

Additionally, their relocation team contributed over 200 volunteer hours last year, supporting initiatives like packing food for the homeless, cleaning neighborhoods, and fundraising for national charities, including the Make-A-Wish Foundation. We are proud to recognize their unwavering dedication to making a positive, lasting impact on communities nationwide.

Budd Van Lines

NEI is thrilled to recognize Budd Van Line’s for their outstanding contributions to environmental sustainability, social equity, and community well-being.

Budd’s success with their Eco-Crate program demonstrates a strong commitment to reducing waste and protecting the planet. Additionally, through their involvement with Women in Trucking, they are advancing diversity and empowering women in the transportation industry. Likewise, their support for initiatives such as Wreaths Across America, Truckers Against Trafficking, the Police Unity Tour, and Move For Hunger set them apart as a model for corporate engagement in social and humanitarian efforts. NEI thanks this partner for their remarkable efforts, which align with our shared mission to create a more equitable and sustainable world.

Alexander’s Mobility Services

Alexander’s Mobility Services has demonstrated a long-standing commitment to community service. Fifteen years ago, they launched their annual Community Event Program as a small addition to their National Sales Meeting agenda, and it has since grown into a cherished tradition. This program not only fosters a sense of community within the company but also educates participants on local challenges faced by the communities hosting their meetings. Each year, employees enthusiastically engage in activities such as building bikes for children, crafting blankets for newborns in neonatal intensive care, cleaning beaches, and supporting charities like Make-A-Wish. We commend Alexander’s Mobility Services for their dedication to making a positive impact through their collective efforts and corporate responsibility initiatives.

ICON Relocation

ICON Relocation has consistently shown an innovative approach to corporate social responsibility. Through their people-centric strategy, they empower employees by involving them in voluntary environmental and wellbeing/engagement committees, ensuring CSR is woven into every facet of their business. This dedication has led to impressive certifications like EcoVadis Gold, ISO 14001, and achieving carbon-neutral status, reflecting their unwavering commitment to sustainability. Beyond their operations, ICON actively collaborates with partners on various sustainability initiatives and supports impactful local projects, such as the Sussex Kelp Recovery Project, beach cleanups, and litter pickups. Additionally, their focus on diversity, equity, and inclusion shines through initiatives like their progressive, staff-led International Women’s Day podcast. We applaud ICON Relocation for their outstanding efforts in driving positive change for NEI and the broader industry through their exemplary corporate responsibility initiatives.

“We are proud to acknowledge and celebrate the extraordinary contributions of our Service Partners who consistently exceed expectations in upholding NEI's commitment to corporate responsibility,” said Randy Wilson, President | CEO of NEI Global Relocation. “Their efforts inspire us to look beyond ourselves and strive for a better, more impactful future.”

Congratulations to the 2024 Corporate Responsibility Award recipients for their outstanding contributions to creating positive change. Their dedication serves as an inspiration for us all.

Each year, NEI Global Relocation honors service partners who demonstrate exceptional performance and integrity in their business. We take great pride in recognizing those who go above and beyond in delivering Service Exceeding Expectations to our clients and their relocating employees.

Below is a list of all our award winners, along with links to press releases for each category.

‍

Service Partner of the Year

Interconex Inc.

‍

Service Exceeding Expectations

Ward North American

MiniMoves, Inc.

Nelson Westerberg

Rocket Mortgage

Corporate Living

Synergy Global Housing

CWS Corporate Housing

GlobeSpec

IPR Consulting

LARM USA, Inc.

REA – Partners in Transition

Aperian Global

IOR Global Solutions

@ Properties | Christie's International Real Estate

‍

Own It! Awards Winners

NYC Navigator, LLC

Professional Organizing Relocation Consult

CORT Destination Services

Ace World Wide Elite Relocation Services

Ward North American

Home Sweet Home

Corporate Living

AltoVita

Premia Relocation Mortgage

Rawson Realty, LLC

Bernstein Realty, Inc.

‍

Corporate Responsibility

Budd Van Lines

Alexander’s Mobility Services

Rocket Mortgage

Icon

‍

Innovation

Icon

AltoVita

‍

A dockworkers strike at U.S. East and Gulf Coast ports – from Maine to Texas – is expected to severely impact global supply chains and the economy. The strike's disruption could affect billions of dollars in cargo with immediate delays for vessels as well as future delays.

The work stoppage on 1 October 2024 followed a lengthy deadlock in labor talks between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), a shipping industry group representing terminal operators and ocean carriers.

Thirty-six East and Gulf coast ports shut down including but not limited to Baltimore; Boston; Charleston, South Carolina; Jacksonville, Florida; Miami; Houston; Mobile, Alabama; New Orleans; New York/New Jersey; Norfolk, Virginia; Philadelphia; Savannah, Georgia; Tampa, Florida; and Wilmington, Delaware.

Some experts warn of cascading effects throughout the global economy if the strike lasts. Danish shipping giant Maersk predicted that even a one-week shutdown could take up to six weeks to recover, compounding delays daily.

Regarding the event’s impact on relocation, international shipping and global supply chains are bracing for potential disruption this week and the weeks ahead, but as this situation evolves and we learn more, NEI and our service partners will keep clients advised of specific shipments affected, as well as provide an update on future shipments and how the situation impacts the supply chain.

If you have any questions about this situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

‍

Effective risk management is essential in the relocation process, to anticipate and address concerns before they can disrupt operations. From logistical interruptions and regulatory compliance to employee dissatisfaction, there are potential risks with each relocation. Preemptively managing them ensures business continuity and successful transitions for employees.

Risk Management and Corporate Relocation

Risk mitigation involves minimizing the impact of potential challenges by developing strategies to manage or eliminate issues before they arise. Identifying and mitigating risks in global mobility is not as clear-cut as it might seem. Even seasoned relocation professionals can find this daunting. However, by predicting and planning for risks, businesses gain a distinct advantage.

Christine Thomas of 360factors likens the business world to a racecourse, with risks as the potholes along the way. Applying this analogy to global mobility, we can view a company’s relocation program as the roadmap, and the risks as the obstacles that need to be navigated. At NEI, we don’t avoid the potholes—we actively anticipate and develop strategies to mitigate their impact. Our goal is to get our clients’ employees to their destinations smoothly and safely, without unexpected setbacks.

Steps to a Comprehensive Risk Assessment

Conducting a thorough risk assessment is critical and anticipating challenges related to logistics, compliance, and employee satisfaction is only the beginning. For example, NEI’s comprehensive risk assessment includes the following steps:

1. Identify Potential Risks Global mobility programs face unique risks, ranging from logistical and operational challenges to financial and immigration concerns. We carefully assess the risks and identify where they are most likely to occur.
2. Determine Who Might Be Affected Once risks are identified, we evaluate who may be impacted—whether it’s the relocating employees, our corporate clients, service partners or NEI. Understanding the scope of impact helps us prioritize risk mitigation efforts.
3. Analyze and Evaluate Risks After identifying the potential risks, we analyze their severity and probability. While it may not always be possible to remove risks completely, we implement control measures to minimize their occurrence and impact.
4. Record the Results and Implement Solutions Once risks are analyzed, we document the mitigation process. This involves detailing the risks, who they could affect, and the steps we will take to mitigate them.
5. Review and Update Regularly Global mobility is constantly evolving, so it’s essential that risk management plans evolve too. NEI conducts regular reviews to ensure our strategies are up-to-date and adaptable to changes in regulations, technology, and industry trends.

By following these steps, NEI ensures that risk management is proactive, not reactive. We strive to minimize disruptions to business operations, protect company assets, and safeguard the information of our clients and their transferees.

Preemptive Risk Management

At NEI, we approach risk management holistically. Our comprehensive risk mitigation plans cover the relocation process,  business continuity,  disaster recovery, and secure technology to ensure resilience. Key components of our risk management strategy include:

• Risk Management Plan: NEI conducts quarterly multi-departmental risk assessment meetings. During these sessions, we evaluate potential risks and implement tailored action plans with robust mitigation strategies.
• Insurance Coverage: NEI and our service partners carry insurance coverage to mitigate potential risks associated with relocation. This includes comprehensive domestic and global insurance solutions required for service partners working with NEI.
• Cybersecurity Measures: We utilize industry best practices to protect sensitive information. Our cybersecurity protocols include identity management, data protection, network defense, and vulnerability testing, ensuring that both our clients’ and transferees’ data remain secure throughout the relocation process.

Key Risks and Mitigation Strategies

While potential risks exist in corporate relocation, having a structured approach to managing them minimizes their impact. Here are some common risks faced by relocation management companies (RMCs) and how NEI addresses them:

• Logistical and Operational Interruptions: The complexity of coordinating multiple services, managing timelines, and ensuring the smooth transport of goods presents considerable logistical challenges. NEI believes in prevention over resolution. We establish clear processes, set expectations with all parties involved, monitor progress and continuously measure performance. In those rare instances that concerns or complaints arise, they are immediately escalated to our Senior Management team for prompt action.

• Legal and Regulatory Compliance: Compliance with local, national, and international laws is key in global relocation. NEI stays informed on relevant regulations by leveraging multiple resources, including industry groups, government directives, and advice from legal and tax experts. This information resides in a central depository to assist in preventing costly legal delays.

• Employee Impact: A failed relocation or an unsatisfied employee can have significant repercussions, from reduced production to loss of talent. Setting expectations, consistent communications and transparency are the most important elements of a successful relocation or assignment.  Our Employee Pre-Decision Program and Onboarding conversation empowers the relocating employee to discuss their concerns and needs, and the NEI consultant to level-set the employee’s expectations based on their approved services and destination location.  If special needs are unveiled, they can now be discussed with the corporate client at the beginning of the process. This improves recruitment, retention, and employee satisfaction.

Real-World Examples of Risk Mitigation

Risk management in corporate relocation is essential to real-world success. Here are a few examples of how preemptive risk management has helped companies overcome relocation challenges:

• NEI received many “rush” global moves from a client to a country that required a minimum of six (6) months to process visa and immigration applications.  To avoid future frustrations from delayed moves, NEI implemented a training program for talent managers, talent acquisition teams and hiring managers to understand global compliance concerns and move timelines.
• An employee arrived late, after midnight, and was not able to access their temporary living apartment.  After speaking with the NEI consultant, after midnight, a nearby hotel was secured with a late checkout and the employee quickly had a secure place to rest.

Recommendations for Clients and Service Partners

NEI works closely with clients and service partners to ensure that risk management is a collaborative effort.  As you build a Risk Management Program, consider the following:

• Prioritize Communication: Regular, transparent communication between all parties ensures that potential risks are identified early and mitigated quickly.
• Leverage Technology for Risk Monitoring: We use advanced technology to monitor risks in real-time, allowing us to react quickly when issues arise.
• Continuously Evaluate Risk Management Strategies: NEI regularly reviews and updates its risk management practices, adapting to new challenges and ensuring the highest level of service for our clients and their employees.

Conclusion

Managing risks in corporate relocation is about more than addressing problems as they arise. It’s about anticipating challenges, preparing for them, and preemptively implementing solutions. NEI’s approach to risk management is to identify potential risks early, manage them effectively, and continuously adapt our strategies to keep pace with industry changes. This ensures smoother transitions, protects assets and employees, and maintains operational efficiency.

If you’d like to learn more about how NEI can help your program thrive, please reach out to your NEI Client Relations Manager or a member of our Global Client Development Team.

‍

‍

Top Performer 2-Years Running: Nationwide Relocating Employee Survey

For the second consecutive year, NEI Global Relocation has been recognized as the top-performing relocation management company as measured by average score in the Trippel Nationwide Relocating Employee Survey. This prestigious survey, which gathers feedback directly from relocating employees, reflects the real-world impact of our services, offering an objective measure of our performance across key areas of the relocation process.

This recent accolade follows four consecutive years of top rankings in the Trippel Relocation Manager’s Survey, further solidifying NEI Global Relocation’s position as an industry leader. Our consistent stellar performance highlights our commitment to quality and client satisfaction in every aspect of relocation services.

Below you will find a detailed summary of our overall ratings for the past four years, starting with where we rank in total #1 ratings according to the Trippel Relocation Manager’s Survey.

‍

Total #1 Ratings (2020-Present): Trippel Relocation Manager’s Survey

Most #1 ratings among all participants, considering both average score and net satisfaction:

1. NEI (48)
2. RMC with 2nd most (18)
3. RMC with 3rd most (14)
4. RMC with 4th most (8)
5. RMC with 5th most (6)
6. 2 RMCs with 6th most (5)
7. RMC with 7th most (3)
8. 3 RMCs with 8th most (2)
9. 2 RMCs with 9th most (1)
10. 16+ RMCs with no #1 rankings from 2020 – Present*

* Company either met the criteria for inclusion in the survey results, but earned no #1 ratings, or did not meet the necessary criteria for inclusion.

‍

Top Relocation Companies: Service Delivery

NEI Global Relocation has consistently set the standard for service delivery in the corporate relocation industry. Our top rankings in overall satisfaction, quality, and team personnel reflect our relentless pursuit of excellence and our commitment to providing unparalleled client experiences. We take pride in being a trusted partner, ensuring that every relocation process is seamless and exceeds client expectations.

RMC Overall Satisfaction

• #1 Average Score 2020, 2021, 2022
• #3 Average Score 2023
• #1 Net Satisfaction 2020, 2021, 2022
• #3 Net Satisfaction 2023

Our sustained high rankings in overall satisfaction demonstrate our dedication to providing exceptional service to our clients year after year.

RMC Quality

• #1 Average Score 2020, 2021
• #2 Average Score 2022
• #1 Net Satisfaction 2020, 2021, 2022

These rankings highlight our unwavering commitment to maintaining the highest quality standards and ensuring seamless service continuity.

RMC Best in Class / Performance (Net Satisfaction not calculated)

• #1 Average Score 2020, 2021, 2022
• #2 Average Score 2023

RMC Team Personnel

• #1 Average Score 2020, 2021
• #1 Net Satisfaction 2020
• #2 Average Score 2022 (T)
• #2 Net Satisfaction 2021

‍

Top Relocation Companies: Stability

Stability and security are paramount in the relocation process, and NEI Global Relocation excels in these areas. Our top scores in data security, integrity, and service recovery demonstrate our dedication to safeguarding client information and delivering reliable, consistent services. With NEI, clients can be confident in a stable partnership built on trust and integrity.

RMC Data Security

• #1 Average Score 2021, 2022
• #2 Average Score 2020
• #1 Net Satisfaction 2021, 2022
• #2 Net Satisfaction 2020

RMC Integrity

• #1 Average Score 2021, 2022
• #2 Average Score 2020, 2023
• #1 Net Satisfaction 2020, 2021, 2022, 2023 (T)

RMC Service Recovery

• #1 Average Score 2021, 2023
• #1 Net Satisfaction 2023 (T)
• #3 Average Score 2020
• #2 Net Satisfaction 2020, 2021 (T)

‍

Top Relocation Companies: Client Relationships

At NEI Global Relocation, we believe that strong client relationships are the cornerstone of successful relocations. Our top rankings in continuation of services, cultural partnership, and willingness to recommend highlight our focus on fostering lasting partnerships. We are committed to understanding our clients’ needs and ensuring their satisfaction at every step of the relocation journey.

Continuation of Services

• #1 Average Score 2020, 2022, 2023
• #1 Net Satisfaction 2020 (Net Satisfaction not calculated 2022, 2023)

RMC Cultural Partnership

• #1 Average Score 2023
• #1 Net Satisfaction 2021. 2023 (T)
• #2 Average Score 2020

Willingness to Recommend RMC

• #1 Average Score 2022, 2023 (Net Satisfaction not calculated 2022, 2023)
• #2 Average Score 2020
• #2 Net Satisfaction 2020

‍

Why the Trippel Relocation Managers’ Survey?

What sets the Trippel Survey apart is its extensive focus on impartiality and the breadth of its data collection. The insights from the Trippel Relocation Manager’s Survey are highly valued as they reflect industry insiders' experiences and offer an objective comparison of the sector’s top firms. This makes it a unique and trusted resource for companies looking to make informed decisions when selecting a relocation management provider.

‍

Conclusion

If your organization is grappling with inefficiencies in relocation processes, struggling to maintain high employee satisfaction during transitions, or finding it difficult to ensure data security and service continuity, it's time to consider partnering with a proven leader in the industry. At NEI Global Relocation, we not only understand these challenges but excel in turning them into strengths, as evidenced by our consistent top rankings in the Trippel surveys. Our expertise in delivering seamless, high-quality relocation services can help you streamline operations, reduce costs, and enhance the overall employee experience.

Contact us today to discover how we can elevate your relocation program!

‍

_{The data and rankings referenced in this article are derived from the 2020, 2021, 2022, and 2023 Trippel Relocation Managers Surveys as well as the 2023 and 2024 Trippel Nationwide Relocating Employee Surveys. These surveys provide comprehensive feedback from both relocation managers and employees across the industry, ensuring an accurate reflection of service performance and industry leadership.}

Singapore, Singapore September 5, 2024 - The Forum for Expatriate Management recently held its APAC Summit at Hotel Fort Canning to celebrate excellence in the Mobility industry, handing out their touted EMMAs (Expatriate Management and Mobility Awards). The evening’s gala dinner and award presentation recognized the standout achievements of industry leaders in the APAC region. Among the honorees, NEI Global Relocation and Alto Vita were recognized with the Best Partnership Award for their exceptional collaboration.

This is the second EMMA partnership award won by NEI Global Relocation and Alto Vita this year. The first FEM EMMA award was presented to NEI and AltoVita in Dallas in May 2024.

Randy Wilson, NEI President / CEO explains, “This accolade underscores the exceptional synergy and innovation that define the partnership between NEI Global Relocation and Alto Vita. The award highlights the strength of our collaboration within the Asia Pacific region to deliver superior relocation services.”

The partnership between NEI Global Relocation and Alto Vita has been pivotal in executing two major group move projects for prominent clients across APAC, specifically to Japan and India. Managing group moves is inherently complex, demanding meticulous planning, sophisticated execution strategies, and effective coordination with local service providers. Despite the challenges of relocating large groups to demanding locations, NEI Global Relocation’s commitment to excellence in international relocation, combined with Alto Vita’s expertise in corporate housing, has ensured clients receive high-quality accommodations while staying within budget.

Receiving the Best Partnership Award reflects NEI Global Relocation and Alto Vita’s shared dedication to overcoming challenges and exceeding industry expectations. These honors not only celebrate our successful collaboration but also reinforce NEI’s ongoing commitment to delivering exceptional customer satisfaction.

‍

2024 International All-Benefits Survey Key Takeaways

NEI Global Relocation (NEI) recently completed our 2024 International All Benefits Survey that covered all components of a typical International relocation program, including policy overview, pre-assignment, relocation, on-assignment, allowances & finances, end of assignment, and tax & compensation areas.

For the survey, 47 international policy components were included, focusing on short- and long-term assignments and permanent transfers with highlights covering several other program types. Of 108  participating companies, the top industries included Technology, Manufacturing, Life Sciences, Consumer Goods & Services, Food & Beverage, and Energy & Utilities.

‍

Key Takeaways

NEI’s full report contains recent trends in types of international policies and the prevalence of benefits offered. Key takeaways include:

1) Overall Program Overview:

• Intra-country and Intra-Region Americas & LATAM Policies: While our 2024 survey indicates companies are increasing their intra-country and intra-region Americas & LATAM policies, the front-runners for the most common assignment program types by surveyed companies remain clear: 90 percent of companies had a permanent transfer policy; 81 percent a long-term assignment policy; and 73 percent a short-term assignment policy.
• Repayment Agreement Terms: 2024’s survey saw a decrease in the number of companies requiring repayment agreements for permanent moves (88 percent) compared to 2022 (94 percent), while agreement requirements for short-term (59 percent) and long-term assignments (75 percent) remained consistent with 2022.  NEI saw a significant uptick in companies that prorate some or all repayment funds (80 percent, up from 62 percent in 2022) and those using a 24-month required repayment agreement term (83 percent, up from 61 percent in 2022).
• Lump Sum-Only Policies: These are rarely used for international moves by surveyed companies: only 11 percent of companies offered such for permanent moves and less than one percent offered for short- and long-term assignments. This is not surprising as an international relocation, whether temporary assignment or permanent move, can be much more challenging for employees. Providing a lump sum to cover all relocation expenses may seem to offer flexibility, but employee planning and stress can be overwhelming without support from a seasoned professional or Relocation Management Company.

2) Support for Families:

• Pet Transport: Most pet owners consider their pets as part of the family and would be hesitant to move without them, thus it is not surprising to see an increase in 2024 surveyed companies offering pet transport for long-term assignments (39 percent compared to 30 percent in 2022) and permanent transfers (34 percent to 23 percent in 2022). Companies focusing on cost reduction offer a capped pet transportation benefit to keep costs down but provide families peace of mind.
• Spouse / Family Assistance: This year’s survey also reports, over the past few years, a noticeable shift from career assistance to family acclimation services for international assignments. By expanding the benefit, it helps address the whole family’s needs. Long-term assignments offering Spouse / Family Assistance rose from 61 percent in 2022 to 74 percent in 2024 and offering it to permanent transfers rose from 51 percent in 2022 to 55 percent.
• Host Country Transportation: A common benefit that continues in both short-term and long-term assignment policies, assistance provided varies with almost half of surveyed companies offering assistance based on the location or local practice.
• Host Country Housing: Most assignees live in a rented apartment or flat throughout their assignment. Of 2024 surveyed companies, 99 percent of short-term policies and 93 percent of long-term policies provided host country housing eligibility and, for permanent moves, only 20 percent of 2024 respondents provided it (not to be confused with interim temporary living). For all companies, 85 percent have housing paid by the company or their RMC on behalf of employees on short-term assignment and 62 percent on long-term assignment.
• Global Health Insurance Plans: NEI saw a significant shift of companies this year providing a global plan approach for short-term (56 percent) and long-term (65 percent) assignees, a change from our 2022 survey when 71 percent of companies used a home-based approach for short-term assignees and 57 percent for long-term.

3) Cost Impact of Policy Changes:

• Furniture Allowance in Lieu of Shipment: As costs of household good shipments continue to rise, NEI’s seen an increase in companies offering a furniture allowance in lieu of a household good shipment. For short-term assignments, 54 percent of surveyed companies offered one compared to 38 percent in 2022. For permanent assignments, 48 percent offered one in 2024 compared to only 37 percent in 2022. Though some companies may adopt a furniture allowance to support sustainability initiatives, analysis completed by NEI determined that the sustainability variance is minimal and, in some cases negative, due to emissions from manufacturing, shipment of furniture from the plant, and disposal of furniture at assignment end.
• Storage Benefits Decrease: NEI’s seen the storage benefit decrease for all policy types in the last year, most likely due to companies’ cost containment measures. Offering 15-to-30 days of storage is most common for both long-term assignments and permanent transfers.
• Relocation Allowance Usage Increase: This year, NEI’s noted an increase in companies offering the allowance across all policy types. Companies are also shifting more towards offering a flat amount per assignee vs. percentage of employee salary. For allowance eligibility, short-term assignments rose from 45 percent (2022) to 68 percent (2024); long-term assignments increased from 74 percent to 87 percent; and permanent moves rose from 76 percent in 2022 to 87 percent.
• Tax Gross-up Vary by Benefit & Assignment Type: Year-over-year, NEI saw an increase in companies including state insurance, social security, social and local, and city income taxes in the hypo tax. Historically, most companies provide both tax consultation to set upfront expectations and tax prep assistance throughout the assignment. This is consistent with 2024’s survey.

‍

Driving Unique Solutions for Each Client

We recommend all companies determine which unique solutions will work best for their company and NEI is ready to discuss all relocation-related possibilities with you.

NEI’s Global Mobility Strategies Team would be pleased to assist you in determining if a benefit is the right fit for your program. We believe reviewing program intent and benchmarking against industry peers and best practice can help you build a strong talent acquisition / retention strategy.

Thank you to all companies who participated!  

‍

About NEI Global Relocation

With headquarters in the U.S. and regional offices in Switzerland and Singapore, NEI is a certified Women's Business Enterprise dedicated to providing full-service global relocation and assignment management solutions. Supporting well over 200 clients, including numerous Fortune 500 and Fortune 1000 companies, NEI is committed to meeting diverse supplier goals and addressing the unique challenges of global talent mobility. For more information on NEI's services and to explore NEI All-Access, visit www.neirelo.com

The above article is provided for informational purposes only. Please consult your tax, legal, immigration or accounting advisors before making any decisions or transactions.

Determining Main Objectives and Prioritizing KPIs in Corporate Relocation

To effectively prioritize KPIs, it's crucial to first identify your organization's main objectives for its relocation program. Most often, these objectives fall into one of three main areas: Cost Efficiency, Employee Satisfaction and Retention, and Operational Excellence.

‍

‍Cost Efficiency

Identifying Cost Efficiency as a Priority:

• Best for Companies That: Are operating under budget constraints or have a strategic focus on financial health.
• Considerations: Prioritizing cost savings and accurate invoicing helps maintain financial health but could impact the level of personalized service and employee satisfaction.

Indicators:

• Strategic Growth and Expansion: Companies expanding into new markets need to manage costs efficiently to sustain growth.
• Stakeholder Expectations: High emphasis on financial health and transparency from stakeholders.
• Budget Constraints: Need to maximize value and minimize expenses.

Prioritizing KPIs for Cost Efficiency:

• ‍Primary KPIs:‍
  • Cost Savings [RMS-Provided]: Cost savings are identified through financial reports and program benchmarks. This metric identifies opportunities for increased efficiency while maintaining high service quality. Using these insights allows for strategic decision-making that optimizes budgets and improves the financial sustainability of relocation services.
  • Exceptions [Client KPI]: Cost savings are identified and measured through financial reports and program benchmarks. This metric identifies opportunities for increased efficiency while maintaining high service quality. Using these insights allows for strategic decision-making that optimizes budgets and improves the financial sustainability of relocation services.
• ‍Secondary KPIs:‍
  • Invoicing Accuracy [RMS-Provided]: To verify invoice accuracy, it's common to conduct reviews and gather feedback on invoicing processes from your Accounts Payable Department. Accurate invoicing is critical for maintaining financial transparency and trust. By ensuring precision in invoicing, disputes are reduced, fostering positive business relationships and implementing necessary process adjustments to uphold high standards of financial integrity.
• ‍Strategy: Regularly review financial reports and monitor cost-saving measures. If cost savings are on target and invoicing errors are minimal, the program is successful.

‍

Employee Satisfaction and Retention

Identifying Employee Satisfaction as a Priority:

• Best for Companies That: Rely on retaining key talent and maintaining positive morale at work.
• Considerations: High levels of support and satisfaction require investment in quality service providers and thorough preparation processes. While it may increase some of your program costs, they are quickly recovered in reduced recruitment and onboarding expenses.

Indicators:

• Employee Feedback: Frequent feedback indicating a need for better support and satisfaction.
• High Turnover Rates: Companies experiencing high turnover may need to focus more on employee satisfaction to retain talent.
• Talent Development:  Emphasis on supporting employees' career growth and development through strategic relocations.

Prioritizing KPIs for Employee Satisfaction:

• ‍Primary KPIs:
  • ‍Employee Satisfaction with Account Executive [RMC-Provided]: Employee satisfaction with their assigned consultant is gauged through detailed post-relocation surveys and regular feedback forms. High satisfaction scores indicate effective support and strong employee-consultant relationships, essential for a smooth relocation experience. This metric helps identify best practices to reinforce, while lower scores highlight specific areas for consultant training and development, promoting continuous improvement.
  • ‍Employee Satisfaction with Service Partners [RMC-Provided]: Employee feedback on the performance of third-party service partners, such as household goods movers or real estate agents, is gathered through surveys and forms. This metric indicates the quality and dependability of their services. Positive feedback confirms dependable providers, while negative responses guide renegotiation of contracts or changes in providers, ensuring consistently high service standards.
• ‍Secondary KPIs:
  • Payroll Submission Timeliness [RMC-Provided]: Tracking the timeliness of payroll submissions for allowances or other payments paid by the company, or adding inputted income for items paid outside payroll to be loaded for wages is imperative.  On-time processing with automation ensures timely payments and tax compliance of relocation disbursements. Efficient payroll processes enhance overall client satisfaction and highlight the reliability of relocation services.
  • ‍Expense Processing Time [RMC-Provided]: Employee expense processing time is monitored through processing time records while satisfaction is monitored through employee feedback. This KPI tracks the average time it takes for an employee to be reimbursed after submitting an expense report and required back-up. Efficient and timely processing reduces financial strain on employees and supports a smoother relocation experience. Streamlined expense processing minimizes delays and errors, enhancing overall program efficiency.
• ‍Strategy: Review your relocation management company’s (“RMC”) frequent survey and feedback session results to gauge employee satisfaction. High satisfaction scores with consultants and service partners are indicative of a successful program. Secondary metrics like payroll timeliness should remain within acceptable ranges to avoid negatively affecting the overall satisfaction.

‍

Operational Excellence

Identifying Operational Excellence as a Priority:

• Best for Companies That: Aim to minimize errors and delays while ensuring compliance with legal and regulatory requirements.
• Considerations: Focus on process efficiency and compliance requires robust systems and a commitment to continuous improvement. While this minimizes risks and ensures smooth operations, it might divert attention from individual employee experiences and personalized support.

Indicators:

• Compliance Requirements: Operating in highly regulated industries or regions with complex legal requirements.
• Operational Challenges: Frequent issues with process inefficiencies, errors, or delays.
• Strategic Growth: Companies expanding rapidly and needing efficient, scalable processes.

Prioritizing KPIs for Operational Excellence:

• ‍Primary KPIs:
  • ‍Service Partner Performance KPIs [RMS-Provided]: Service Partner Performance KPIs measure the effectiveness of all external partners in the relocation process. It includes metrics like responsiveness, invoicing accuracy, and transferee satisfaction. High performance indicates strong collaboration, smooth relocations, and alignment with program goals. Below are a few examples of partner-specific measures of performance:
    • ‍Temporary Living Performance Metrics:
      • 24/7 service manager availability
      • Responding to customer requests within two hours
      • Securing accommodations
      • Clear access instructions at least 48 hours before check-in
    • Household Goods Performance Metrics:
      • delivery timeliness
      • claims average cost
      • claims processing time
    • ‍Tax & Immigration Partner Performance:
      • adherence to international regulations
      • timely processing of tax and immigration documents
      • proactive management of potential issues.
• ‍Secondary KPIs:
  • ‍Process Automation Performance [RMC-Provided]: Where processes have been automated through workflow technology or Artificial Intelligence, it is wise to measure the successful throughput and outcomes of each automation. This KPI can track the efficiency, accuracy, or overall effectiveness of automated processes within the relocation program. High performance in process automation typically results in faster turnaround times, reduced errors, and improved scalability, contributing to overall program efficiency.
  • ‍Website Uptime [RMC-Provided]: Website uptime is monitored through IT systems and uptime reports to ensure consistent accessibility. High uptime ratings result in maintaining operational efficiency and user trust. Investing in a robust IT infrastructure to minimize downtime enhances the reliability and user experience of online resources.‍
• ‍Strategy: To achieve operational excellence, focus first on establishing a strong and collaborative partnership with your RMC.   Prioritize KPIs in key areas like responsiveness, satisfaction and accuracy, as they directly affect employee experience and compliance. Simultaneously, leverage process automation to enhance efficiency. Regular reviews and adjustments based on KPI data will ensure continuous improvement and sustained operational excellence.

‍

Conclusion

By assessing and understanding your company’s specific needs and strategic goals, you can confidently identify your main objectives for the relocation program. Prioritizing KPIs that align with these objectives ensures a focused, effective, and successful relocation program. Staying true to these prioritized metrics guarantees that primary goals are met while maintaining acceptable standards for secondary metrics, ultimately driving the overall success and sustainability of the organization.

Relocating employees face unexpected challenges

In today’s corporate world, relocating employees face unexpected challenges like cultural adjustments, legal issues, financial considerations, and personal upheavals. Resilience is crucial for both employees and the relocation professionals supporting them. This article explores resilience in corporate relocation, highlighting its significance and providing insights on fostering this trait.

‍

Understanding Resilience

Resilience is the ability to bounce back from adversity, maintain a positive outlook, and persevere. The idea of resilience is perfectly summarized in the popular quote, “It’s not about how many times you fall, it’s about how many times you get back up.” But how, specifically, does this mindset impact global mobility?

‍

The Complexity of Corporate Relocation

Corporate relocation involves more than moving belongings; it requires legal compliance, cultural acclimation, and logistical execution. Relocation often includes personal and emotional upheavals, with employees leaving support networks and facing cultural adjustments. For instance, an employee moving from the U.S. to Japan may experience culture shock due to differences in social norms, work culture, and language. Coordinating specialized medical transport for a family member can be burdensome and stressful for all involved. Empathy and understanding are crucial for successful global assignment and a resilient team is essential to adapt to these unique challenges.

‍

Leadership and Resilience

Leadership and resilience are intertwined, with effective leaders demonstrating and cultivating resilience within their teams. In the relocation industry, leaders must guide teams through stressful situations, ensuring focus and motivation. A Harvard Business Review article notes that resilient leaders maintain purpose, communicate effectively, show empathy, and create supportive environments. In recognizing the emotional aspects of relocation, such as anxiety about moving to a new country, resilient leaders can provide reassurance and support, helping employees navigate challenges and feel valued.

‍

Building Resilience in Relocation Programs

To foster resilience among transferees, relocation programs must prioritize clear communication and set realistic expectations. An initiation call can lay the groundwork for a smooth process by managing anxieties and preparing transferees for challenges. Continuous support, including practical assistance with utility setups and understanding local regulations, as well as emotional support like checking in on well-being, is crucial. Companies with strong support systems see higher satisfaction and retention rates. For example, a transferee moving from Detroit to Tupelo, Mississippi, not only requires help with logistics and cultural adjustments, but may need assistance finding a school for their children and care for an elderly parent, underscoring the need for comprehensive support to ease transitions and build resilience.

‍

The Human Side of Relocation

Resilience in relocation goes beyond logistics; it involves addressing the human side of the move. Employees often leave support networks and face significant cultural and personal adjustments. Understanding and empathizing with these challenges is crucial. For instance, a transferee caring for a sick child benefits from the relocation team's compassionate support, easing their burden. The American Psychological Association states that a strong support system is vital for building resilience, emphasizing the importance of empathetic communication. Tailored assistance, such as accommodations for a transferee that has a child with special needs, ensures a smooth and successful transition.

‍

Conclusion: The Big Idea

At the heart of successful corporate relocation lies resilience—the ability to adapt, recover, and thrive amidst challenges. Effective relocation depends on fostering a resilient mindset through strong leadership, clear communication, and empathetic support. Support systems play a crucial role in building resilience, equipping transferees to handle unexpected situations and promote growth. The relocation industry can transform challenges into growth opportunities by embracing resilience, turning trials into strengths. According to the American Psychological Association, resilience involves behaviors, thoughts, and actions that can be learned and developed, with resources like the Mayo Clinic offering individual and group training on resilience skills and strategies. Please visit their website for tips on fostering resilience in your life and within your organization.

‍

Workforce Retirements are Accelerating in the United States – Are You Prepared?

Statistics indicate more than 10,000 Americans reach the average retirement age of 65 every day. That figure is expected to peak in the summer of 2024 (referred to as “Peak 65”) to more than 12,000 a day. In a recent report from the US Chamber of Commerce, the US has 8.5 million job openings but only 6.5 million unemployed workers. Contributing factors were early retirements and less immigration.  

During the third quarter of 2020, approximately 28.6 million baby boomers retired, and the number continues to grow. This significant increase in retiring workers has substantial implications for the labor market, including, but not limited to, loss of proficiency, experience, and corporate culture. Current US domestic population growth alone simply can’t cover the worker gap.

According to a recent survey conducted by the Worldwide Employee Relocation Council, 56 percent of organizations are now addressing seasoned employee retention. As companies grapple with replacing such experience, it will become increasingly important to assess the impact on your organization and develop a strategic plan to ensure continuity and minimize disruptions.

‍

Strategies to aid your organization

Resourcing Key Personnel Through Immigration

Fostering a diverse workforce can be essential to meet the demands of the changing labor landscape and ensure a sustainable and adaptable future. Immigration plays a crucial role as a solution to bolster the workforce. The age of H1-B or L-1 Immigrants, on average, is lower than their American counterparts and is presently the primary driving force behind the country’s population growth. Increasing the number of skilled immigrants can supplement working-age Americans and the nation’s aging population.  

Attracting Experienced Team Members

When looking for seasoned talent, it can be advantageous to expand the search regionally and globally. An important point is to ensure advertising is inclusive for all ages. Avoid terms such as “energetic” or “high potential,” as these can imply only younger workers should apply. Other strong incentives include offering benefits such as health and long-term care insurance. Some organizations offer a final relocation package as a bonus for those that complete a company-requested assignment or for those who remain with the company past a certain age before retiring.

Utilizing NEI Services

NEI will help you develop and manage a Final Relocation program, facilitate home sales, household goods, and assist with destination services for retirees. Our global reach supports a robust international program to relocate key talent. NEI can also manage rotational programs for future company leaders to learn from the experience of seasoned co-workers across different areas.

Organizations can bridge staffing shortages and knowledge gaps by utilizing effective, proven immigration, employment, and training programs to help transition critical knowledge and expertise to the next generations.

If you have questions or would like to discuss how NEI can help, please contact your NEI Client Relations Manager.

‍

Additional Resources

How Workplaces Can Adapt to an Aging Workforce

What to do About Our Aging Workforce

Baby Boomers are Retiring | Implications for the Workforce and Economy

‍

What is COLA (Cost of Living Allowance)?

When companies seek to relocate mission-critical employees or new hires from low-cost areas to high-cost destinations, the negative standard of living impact can be a major barrier to acceptance.

A COLA (Cost of Living Allowance) benefit is additional compensation given to employees to help them offset and manage increased expenses (e.g., groceries, housing, utilities, and taxes) in a destination location compared to the departure location. By offering the benefit to employees considering relocating to higher cost locations, companies can make the move more attractive and feasible.

‍

When to offer Cost of Living Allowance?

Whether designing a US domestic program or an International program, a common question asked before offering a COLA benefit is: “How drastic a difference does the cost of living have to be between the employee’s departure and destination locations to trigger the COLA benefit?”  

Data experts use the most current information to estimate costs of common essentials, and the cost index of the original location is compared to that of the new one to come up with a percentage difference between the locations. While some employers are sensitive to even a 2% or 3% difference, as calculated by an expert third-party data firm, NEI’s 2024 COLA Survey noted that 44% of companies set eligibility thresholds at 5%. Furthermore, some companies choose to only pay the difference above a minimum threshold, but each company’s culture, business, and cost drivers influence the calculation and threshold approach.

‍

How long should COLA payments continue and how might it be paid out?

• For international moves / assignments, COLA is often recalculated more frequently (typically semiannually) due to fluctuating exchange rates and other shifting global factors. When companies provide COLA for employees on temporary international assignments, if there is no official assignment end date, the employer might discontinue or phase-out the benefit if the employee is later localized.
• For U.S. domestic moves / assignments, COLA is usually calculated once and paid either as a lump sum or spread out over a set period (most commonly three years) with payments declining each year to wean employees off of COLA and encourage destination adjustment.

To avoid surprises, employees should be advised COLAs may be modified during the move or assignment. Though, as you might guess, there are usually no complaints when a COLA is adjusted upward.

‍

COLA Trends | Findings from NEI’s 2024 Cost of Living Assistance Global Survey

Relocation packages vary widely across industries, making benchmarking vital so companies can stay competitive. Some companies and industries offer a more frequent, generous COLA, but others may not offer it at all.

NEI’s 2024 Cost of Living Assistance Global Survey, with over 200 participating companies, found the following International and U.S. Domestic trends:

• International:  When cost of living assistance is necessary for international assignments and relocations, companies typically provide assistance in the form of a COLA or a Goods & Services Differential (G&S). Historically, assistance is provided to long-term assignees, as reflected in the survey results. We have seen a slight uptick in assistance provided to short-term assignees since the publication of our 2022 International All Benefits Survey.
• U.S. Domestic: When cost of living assistance is necessary for U.S. Domestic relocations, companies typically provide assistance in the form of a COLA or a Cost-of-Housing Assistance (where companies send funds directly to the lender for high housing costs specifically).  Despite home price increases, mortgage rates double what they were compared to recent years, and an inflationary rise in prices for everyday goods and services, we have not seen an increase in COLA usage like we would have expected, as it appears companies are using a wait-and-see approach, expecting the market to swing back.

“Companies wonder if others are offering COLA more frequently with rising costs and interest rates. Based on our survey results, they aren’t, but the expectation is that usage could increase more in the coming years,” said Amy Smith, Director, Global Mobility Strategies at  NEI.

‍

Facilitating Talent Recruiting and Corporate Relocation Offers

Reviewing program intent, benchmarking against industry peers, and adhering to best practices can help you use COLA to build competitive recruiting and relocation offers. This, in turn, helps employees maintain their living standards, regardless of where their career takes them with you.

NEI’s Global Mobility Strategies Team would be pleased to help you determine whether a COLA benefit is right for your program and make the best decisions about how to administer it. We strive to help our clients embrace their business goals, while still offering the highest service and lowest cost exposure. If you would like to discuss COLA or any other mobility trends, please contact your NEI representative.

‍

_{The above article is provided for informational purposes only. Please consult your tax, legal, immigration or accounting advisors before making any decisions or transactions.}

2024 Forum for Expatriate Management | Americas EMMAs

AltoVita and NEI Winners: Best Partnership Between Two Service Providers  

Dallas, TX May 23, 2024 – NEI Global Relocation, in partnership with AltoVita, is proud to announce that they have been awarded the "Best Partnership Between Two Service Providers" award. This esteemed award recognizes our joint efforts in aligning our culturally driven mission and commitment to providing extensive global mobility support with a customer-centric, technology-enabled experience, demonstrating excellence in global mobility.

The "Best Partnership Between Two Service Providers" award, presented by Forum for Expatriate Management (FEM) honors outstanding achievements and innovation in our industry. NEI and AltoVita stood out among numerous contenders for their innovative approach and impactful results in corporate accommodations.

The technology teams from both companies co-designed multiple solutions encompassing API connectivity, AI in relocation, and price forecasting. The collaboration has strengthened reporting on accommodation spend and ESG metrics through the AltoInsights reporting dashboard and feedback sessions.

Guidance from NEI’s Global Service Partner Relations team, particularly from Lonn Kammeyer (Senior Manager | Service Partner Relationship), has been invaluable in enhancing AltoVita's cost-saving analytics and providing market insights, ensuring clients receive the best value in accommodation costs.

Randy Wilson, CEO / President of NEI, expressed her pride in this achievement, stating, “We are thrilled to receive the 'Best Partnership Between Two Service Providers' award in alliance with AltoVita. Thank you for the collaboration, partnership and, contributing significantly to the win. This award is a testament to the dedication and hard work of both our teams, and it highlights the strength of our partnership.”

Additionally, Karolina Saviova, Co-Founder / COO, AltoVita added, “Winning the 'Best Partnership Between Two Service Providers' award alongside NEI is an honor. Our combined expertise and shared vision are a testament to our passion, hard work, commitment, and strong partnership. Our partnership has allowed us to achieve remarkable outcomes, and this recognition underscores the value of our collaboration. We look forward to continuing our partnership and driving further innovation in global mobility.”

Read more about the event.

About NEI Global Relocation

NEI Global Relocation is a full-service, global relocation and assignment management company headquartered in the U.S. with regional offices and teams in Switzerland and Singapore.

To stay informed and ahead of the curve on topics that affect HR and Relocation, make sure you subscribe to our YouTube channel here!

‍

Tax Treatment of Housing and other Expenses for Interns vs. Short-term Domestic Assignees

While preparing for intern season, we were asked recently to explain why housing and other expenses, like traveling to and from the job location, are taxable for interns and not necessarily taxable for employees on domestic short-term assignments when they are both only temporary work situations. With the busy summer intern season upon us, we thought it might be a good time to revisit the subject.

The tax treatment of housing and other benefits for interns versus short-term domestic assignees are actually very different due to the specific tax rules and regulations that apply to each group. Here's a general explanation of why there are differences in tax treatment:

‍

Interns

Interns are typically considered employees, even if they are temporary or part-time. As employees, any compensation or benefits they receive from their employer, including housing and travel, are generally considered taxable income.

‍

Short-Term Domestic Assignees

Employees on short-term domestic assignments may be deemed to be on a temporary duty assignment away from their tax home. The IRS allows employers to provide tax-free housing, travel, and certain other expenses as a business expense, provided certain conditions are met:

• The employer must expect the assignment to last for less than one year.
• The minute an employer determines the assignment is going to extend longer than a year, the reimbursed expenses from that point forward become a taxable benefit to the employee.
• The employee must maintain a tax home at a regular place of business or employment.
• The temporary assignment must be away from the tax home, generally requiring the employee to work in a different location for a temporary period.

‍

The Crucial Difference: Tax Home

According to Mark Tirpak, Managing Director with Global Tax Network, the major difference between the two is their “tax home”. Interns will presumably not be incurring accommodation costs in a place that is away from their “home” – i.e. principal place of employment – as they will not have a principal place of employment (i.e. tax home) other than the location where they are undertaking the internship.  Their tax home is the location of the internship, so away from home rules applicable for assignees do not apply for interns.

There are conditions, however, where  the value of housing could be excluded from an intern’s gross income if the following three requirements are met:

• The employee is required to accept such housing as a term and condition of employment; and
• The housing is located on the business premises of the employer; and employer-provided
• The housing is furnished for the convenience of the employer.

Unless all 3 of the above requirements are met, the employer-provided housing is taxable.  

Please reach out to your NEI representative if you need support with your intern or assignment programs, or with assistance sourcing a tax firm. The tax treatment of housing and other benefits can be complex and may depend on various factors, including the specific terms of the assignment, the tax laws of the country or jurisdiction in question, and any applicable tax treaties or agreements. Therefore, it's always advisable to consult with your tax firm to understand the tax implications of housing and other benefits for interns in your specific situation.

The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.

‍

Baltimore's Francis Scott Key Bridge Collapse Update

On 26 March, the Francis Scott Key Bridge in Baltimore, Maryland collapsed after one of its pillars was struck by a container ship. Vessel traffic into and out of the Port of Baltimore was suspended until further notice, but the port is still open for truck transactions.

‍

Bridge Collapse Continues to Disrupt Relocation Supply Chain

The closure of the Port of Baltimore, which ranks ninth in overall US trade volume, has significantly impacted the international trade traffic it processes. In 2023, the Port set a record for handling international cargo, with 52.3 million tons valued at nearly $81 billion.

The bridge collapse continues to cause disruptions to supply chains both in the immediate area and across stretches of the country:

• Cargo, which would otherwise have passed through Baltimore, will continue to be discharged at alternative ports (such as New York, Newark, Norfolk, VA and Brunswick, GA) and will reach its destination by truck or rail.
• Delays and/or restrictions should be expected on any shipments to/from the Port of Baltimore as well as at nearby ports.
• Freight rates have increased.

Port officials have said that a temporary channel (about 35 feet deep and 280 feet in length) created by the US Army Corps of Engineers is progressing and that the Port of Baltimore may be fully operational to ocean vessel traffic by early June.

Supply chains have faced mounting pressures from various sources, including incidents in the Red Sea and low water levels in the Panama Canal. The closure of the channel leading from the Port to the seas underscores the fragility of today's supply chain, especially after pandemic-related disruptions in shipping from 2020 to 2022. Unfortunately, the loss of maritime traffic in Baltimore is estimated to cost the US economy about $9 million each day.

“As long as the port is not fully functioning, the impact will be felt all over,” said Maryland Governor Wes Moore.

‍

Future Relocation Updates As Needed

NEI will continue to monitor the situation, provide updates, and keep clients advised of any specific shipments affected. We will also provide updates on future shipments and how the situation impacts the supply chain as we learn more.

If you have questions, please contact your NEI Representative  at 800.533.7353 any time.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

‍

What is the Latest?

On 3 April 2024, Taiwan experienced a 7.4-magnitude earthquake, the strongest seismic event to hit the island in 25 years. The epicenter was on the east coast of Taiwan, near Hualien, a city of 100,000 inhabitants located one hundred miles from the capital of Taipei to the north.

The primary issue centers around the safety of individuals. Tragically, it claimed at least ten lives, left 15 individuals unaccounted for, 1,000 wounded and over 705 trapped, according to the most recent reports.

The earthquake’s effects were extensive in Hualien County with reports of collapsed buildings and thousands of residences without electricity. Landslides and rockfalls prompted the shutdown of a key highway. Taiwan’s Central Weather Administration continues to report aftershocks across the island today.

‍

Relocation Impact

Regarding the event’s impact on relocation, as of now, service partner Interconex, Inc. reports being fully operational, but we are cautioned to expect some potential delays, particularly concerning global supply chains and Taiwan’s semiconductor industry.

This situation is evolving and we will continue to provide updates as needed. NEI and our service partners will keep clients advised of any specific shipments affected, as well as an update on future shipments and how the situation impacts the supply chain as we learn more.

If you have any question about this situations, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

‍

_{This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.}

‍

‍

The Talent Shortage is Not Temporary

“Manufacturers are expected to face economic uncertainty, the ongoing shortage of skilled labor, lingering and targeted supply chain disruptions, and new challenges spurred by the need for product innovation to meet company-set net-zero emissions goals.” ~ Deloitte

Manufacturing accounts for about 11 percent of U.S. GDP and employs approximately 8 percent of the U.S. workforce, but U.S. manufacturing jobs have declined from 19.6 million in 1979 to nearly 13 million by November 2022 – a significant 56 percent decrease when adjusted for population growth.

Yet, as of August 2023, 616,000 U.S. manufacturing job openings are still needing to be filled. The industry’s talent shortage, per Betterworks Engage, can be attributed to:

• Outdated perceptions that manufacturing jobs aren’t safe, clean, or progressive
• Misconceptions by younger generations that manufacturing lacks competitive wages
• Perceived lack of investment in employee growth and development
• Not enough STEM graduates with specific skill sets and abilities to meet demand
• A quarter of the industry’s skilled worker base retiring, with more to come in the next decade

In fact, 77% of manufacturers say this shortage is not temporary and there will be ongoing difficulties attracting and retaining workers in the industry.

The manufacturing skills gap in the U.S. could result in 2.1 million unfilled jobs by 2030, according to a study by Deloitte and The Manufacturing Institute. The cost of those missing jobs could potentially total $1 trillion in 2030 alone. This is true for both talent skilled in the design and operation of old and new machinery, as well as the usual positions that are always needed across manufacturing companies to conduct business.

To attract new talent from various sectors, manufacturers must bridge the gap between the expectations of job seekers and the reality of manufacturing jobs, as highlighted by a Deloitte Global Human Capital Trends study. It's crucial for these companies to focus on widening their talent pool, fostering inclusive work environments, and committing to ongoing skill development to ensure future success.

‍

Key Findings from NEI’s Global Relocation’s 2023 All Benefits Survey

To address these shortages, manufacturing industry Talent Management and HR teams will have to evolve and maximize relocation efficiency and effectiveness to secure talent and retain employees. This starts with examining the benefits used today and ensuring they are ready for tomorrow.

Notable findings from Manufacturing companies participating in NEI Global Relocation’s 2023 U.S. Domestic All Benefits Survey include the following:

Partial Lump Sum

• Manufacturing companies tend to favor a Partial Lump Sum program to cover certain benefits such as temporary living, home finding, return trips, final move and miscellaneous expense allowance.
• A partial lump sum was offered by 31 – 67% of Manufacturing companies (depending on employee level) as compared to 30 – 51% of participants in all industries combined.

Economic Impact on Policy

• Unlike other industries, Manufacturing has not increased COLA, MIDA or Lease Cancellation due to economic changes, choosing instead to stay the course.
• Many companies in NEI’s U.S. Domestic All Benefits Survey (all industries combined) have reviewed and revised policy components to adjust to the changing market.

Home Sale Trends and Responses

A strong sellers’ market over the past few years has caused many companies in multiple sectors to tighten up their home sale programs, scaling down benefits to save money without significantly impacting employees. As the market pendulum starts to swing back to the buyers’ favor, companies are beginning to consider ways to enrich their home sale programs again.

• BVO is preferred over GBO by Manufacturing participants. BVO is offered by 7 – 47% of Manufacturing participants compared to 5 – 33% of participants in all combined industries.
• GBO is offered by 0 – 35% of Manufacturing participants compared to 1 – 43% of participants in all combined industries.
• Loss on Sale is offered by 0 – 20% of Manufacturing participants compared to 1 – 34% of participants in all combined industries.

Tax Treatment

• Manufacturing participants were less likely to gross-up origination services(e.g. partial lump sum, home sale reimbursements, miscellaneous expense allowance), and yet more likely to gross-up destination services (e.g. temp living, rental finding assistance, home finding trip).
• Of Manufacturing participants, 45% complete year-end true up calculations compared to 34% of participants in all combined industries.

In summary, manufacturing companies lean towards more conservative relocation policies, such as favoring Partial Lump Sum programs and maintaining steady course on COLA, MIDA, or Lease Cancellation policies despite economic shifts. This approach is distinct from broader industry trends, where companies are revising policies to adapt to market changes.

A company within the manufacturing sector that adopts a more robust and forward-thinking relocation policy not only differentiates itself but also has a golden opportunity to secure and retain the industry's best talent. As the landscape evolves, those willing to enhance their benefits in thoughtful ways could obtain a sizable competitive advantage.

‍

Investing in Future Competitiveness Today: The Role of Relocation

“Manufacturing is no longer the old-fashioned assembly-line industry of yesteryear. Manufacturing today is taking center stage as an electrifying industry full of possibilities.” ~ Forbes

With expense reduction top of mind for many, it is imperative for Manufacturing companies to identify and consider cost savings opportunities, but also leverage innovative relocation services, technologies, and expertise when addressing talent needs.

NEI Global Relocation strives to be in complete alignment with each client’s priorities, business objectives, and talent management goals.

When choosing the best global relocation management partner, look for a trusted, stable firm with experienced professionals and extensive global networks. A partner that will deliver you the best return on investment, proactively advise you on current and future trends, and support your efforts to secure and relocate talented candidates.

For more information, please contact your NEI representative.

‍

About NEI Global Relocation

NEI is a certified Women’s Business Enterprise headquartered in the U.S. with in-region offices and teams in Switzerland and Singapore. As a full service, global relocation and assignment management company that partners with clients across the globe to provide consultative guidance and solutions, NEI has over 200 clients including many Fortune 500 and Fortune 1000 corporations and we support client Tier 1 and Tier 2 supplier diversity goals each year. For more information and other articles, see www.neirelo.com.

_{The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.}

‍

At Least Six Individuals Unaccounted For

March 26, 2024—Early on Tuesday morning, tragedy struck as the Francis Scott Key Bridge in Baltimore, Maryland succumbed to collapse following a collision by the 10,000 container-capacity vessel “Dali” which had lost power while en-route from the U.S. to Colombo, Sri Lanka.

Regrettably, the aftermath of the incident has left at least six individuals unaccounted for. Our hearts and sympathies extend to all those affected by this unfortunate event.

The repercussions of this disaster are anticipated to cause delays and disruptions to the supply chain. The port of Baltimore is the 11th largest port in the nation and more than 52 million tons of foreign cargo, worth some $80 billion, were transported out of the port last year, according to Maryland Governor Wes Moore.

In consideration of these developments, NEI would like to communicate the latest insights provided by our household goods service partner, Champion International Moving, to help in understanding the current circumstances:

• Vessel traffic into and out of the Port of Baltimore is suspended until further notice, but the port remains open for truck transactions.
• Cargo that was intended for Baltimore will likely be discharged at nearby ports and reach their final destination by landside transportation.
• The bridge (a part of Interstate 695) offered a key transport link between Washington, Baltimore, Philadelphia, and New York.
• Delays should be expected on any household goods shipments to/from the Port of Baltimore as well as at nearby ports.

This situation is evolving rapidly, and we will continue to monitor the area and provide updates.  NEI and our service partners will keep clients advised of any specific shipments affected, as well as future shipments and the supply chain as we learn more.

If you have any questions about this situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

_{This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.}

‍

Tackling the Talent Shortage

“Energy markets are undergoing generational change as climate priorities influence government policy, capital allocation, and investor behavior. With the pace of energy transition, which is uneven across geographies,  businesses will face numerous challenges of identifying opportunities and risks and adapting to new policies and evolving market dynamics.” —S&P Global Commodity Insights

‍

Energy's Economic and Employment Impact

Over the past year, the U.S. expended approximately $1.3 trillion on energy, equating to around $4,000 per person, and constituting 5.7% of GDP. The industry also employs an impressive number of Americans:

• The oil and gas industry in the U.S. employs around 10 million people; equivalent to 6.5% of the U.S.’s total jobs.
• Electric power generation accounts for about 5% of the overall American workforce, or nearly 7 million people and in 2023, two of every five U.S. energy sector jobs is in energy efficiency and employs 2.2 million people.
• The number of jobs in the U.S. nuclear energy sector surpassed 5 million in June 2023, after increasing steeply since the beginning of the year.
• 3.3 million Americans work in clean energy (renewable generation, energy efficiency, clean vehicles, battery and storage, grid modernization, biofuels), which grew 4% in 2022 and 10% since 2021.

‍

Challenges in Talent Acquisition and Retention

Yet, the industry also faces significant challenges ahead; chief among them being the acquisition and retention of talent with the right skills. Younger employees are seeking personal fulfillment or different jobs in other industries while older employees are retiring in greater numbers every year.

“One of the biggest challenges facing the Energy industry is a lack of skilled staff,” —Brunel

Similarly, Bain Consulting reports energy companies need new skills like data analytics, software engineering, AI and machine learning, and environmental expertise.

“As the great retirement continues to cycle out a generation of seasoned experts, companies will rely on a refreshed talent base of more diverse workers—in both skills and identities—to transform the energy sector and our world,” reports Bain.

Consider these talent recruiting realities:

• According to Deloitte, 70% of oil and gas executives surveyed said that their companies are facing a skills shortage, with engineering and technical roles being the most challenging to fill.
• Of workers in the utilities industry, 50% are set to retire over the next decade leading to a loss of skilled field technicians, operators, engineers, managers, supervisors, and support staff.
• The nuclear energy industry, according to a Global Energy Talent Index report, has the most sought-after energy workforce with 83% of nuclear workers being headhunted in the last year and 19% said they received 11 or more approaches by recruiters – the highest of any sector and often by companies outside the energy industry.
• Between now and 2030, the clean/renewable energy industry will need an extra 1.1 million workers, such as engineers and electricians, to develop and construct solar and wind plants, another 1.7 million workers to maintain/operate them, and 1.3 million ‘white collar’ workers to fill other required roles per McKinsey & Co.

‍

Investing in Future Competitiveness Today: The Role of Relocation

Energy industry Talent Management and HR teams need to constantly evolve and maximize both relocation benefits efficiency and effectiveness to secure talent and retain employees. Doing so starts with examining the benefits used today and aligning them with the needs of tomorrow.

Working with industry experts, like NEI, to modernize mobility offerings and craft comprehensive, integrated recruitment strategies can lead to an increase in candidate acceptance rates and overall satisfaction throughout their moves.

‍

Key Findings from NEI’s Global Relocation’s 2023 All Benefits Study

Notable findings of Energy companies participating in NEI’s Global Relocation’s 2023 All Benefits Study found that Energy & Utility (E&U) companies tend to favor a partial lump sum program to cover certain benefits such as travel and temporary living. This benefit was offered by 40-70% of Energy & Utility companies (depending on employee level) as compared to 30-51% of all industries combined. The E&U participants also lean on a full lump sum program for their entry level employees, offered by 55% of companies as compared to 44% within the general population.

Home Sale Programs

• E&U companies are more likely to offer home sale programs when compared other industries, possibly indicating significant competition for talent.
• 70% of E&U companies utilize this for executives, versus 42% in the general population.
• 40% of E&U companies for Director/VP level employees, compared to 25% in the general population.
• According to the survey, seventy-four percent (74%) of E&U companies offer home sale incentive programs to executives as compared to 46% in the general population.

Loss on Sale Benefits

E&U companies offered loss on sale benefits at a rate of:

• 74% for executives
• 58% for Directors / VPs
• Compared to 34% and 26%, respectively, in the general population

Market Trends and Responses

• A strong sellers’ market over the past few years has caused many companies in multiple sectors to tighten up their home sale programs, scaling down benefits which saved money without significantly impacting employees.
• E&U companies did not seem to follow suit, maintaining home sale programs that were in place prior to the shift—suggesting strategic benefit maintenance in a competitive job market, rather than slow adoption of new practices.

NEI anticipates companies re-adopting home sale components as the market begins to change, favoring the buyer, putting the E&U industry ahead of the curve.

Reluctance to Increase Certain Offerings

• E&U companies were hesitant to increase their Cost-of-Living Allowance offerings, Mortgage Interest Differential benefits, and Lease Cancellation Benefits, opting to maintain similar programs as those offered pre-Covid.
• Many companies have reviewed and revised policy components to adjust to the changing market. However, E&U companies have chosen to stay the course—waiting for the pendulum to swing back.

Shift in Policy Types

We are starting to see a shift in policy types with a noticeable portion of E&U companies adopting commuter, intern, core-flex, and U.S. domestic temporary assignment policies.

Even with these changes, the standard tiered policy structures remain in place for nearly 90% of E&U companies.

‍

Relocation Assistance for Business Success

“Energy companies must … leverage existing knowledge while building a workforce that can address the energy demands of the nation in the future.” —Forbes

The energy industry has a long track record of solving challenges through collaboration. With expense reduction top of mind for many, it is imperative companies identify and address cost savings opportunities. This includes understanding the impact of innovative relocation services, technologies, and expertise in achieving these goals.

To that end, NEI Global Relocation stands as a strategic partner uniquely positioned to empower Energy & Utility companies in navigating the complexities of today's relocation landscape. By choosing NEI as your Relocation Management Company, you gain access to a wealth of industry-specific insights, tailored strategies, and a suite of innovative services designed to optimize relocation processes, enhance employee satisfaction, and contribute directly to your bottom line. Our proven track record, highlighted by our detailed understanding of E&U sector needs as demonstrated in our 2023 All Benefits Study, ensures that your relocation efforts are not just a response to current trends but a forward-looking investment in your company’s competitive edge.

To transform your talent mobility strategy into a powerful tool for securing the best talent and fostering long-term loyalty among your workforce, reach out to your NEI representative.

‍

About NEI Global Relocation

NEI is a certified Women’s Business Enterprise headquartered in the U.S. with in-region offices and teams in Switzerland and Singapore. As a full service, global relocation and assignment management company who partners with clients across the globe to provide consultative guidance and solutions. NEI has over 200 clients including many Fortune 500 and Fortune 1000 corporations and we support client Tier 1 and Tier 2 supplier diversity goals each year. For more information and other articles, see www.neirelo.com.

_{The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.}

‍

National Association of Realtors Lawsuit Update

On March 15, 2024, a significant development unfolded within the real estate industry as the National Association of REALTORS® (NAR) disclosed a comprehensive nationwide settlement addressing commission lawsuits initiated by sellers across various states. It is imperative to note that the settlement is not final; its final approval by the court is pending, and the court is unsure when this may happen.

The proposal includes two pivotal rule changes as part of this new settlement. Firstly, NAR has committed to implementing a new regulation prohibiting compensation offers on the MLS.  With the rule change, brokers and agents must directly negotiate compensation terms with their respective clients. Secondly, agents must formalize written buyer agreements with potential buyers before facilitating property tours.

These proposed rule changes would take effect mid-July, marking a significant shift in industry practices.

‍

Key Practice Changes:

• Consumers retain the right to opt for cooperative compensation, provided it is pursued off-MLS through negotiations and consultations with real estate professionals.
• A new rule barring compensation offers on the MLS will be enforced, effective mid-July 2024.

‍

Implications:

• Despite the prohibition of communicating compensation offers through the MLS, various avenues for compensating buyer brokers will persist.
• Compensation for buyer brokers will remain diverse and subject to negotiation between brokers and consumers. Compensation may include fixed-fee commissions paid directly by consumers, seller concessions, or a portion of the listing broker’s compensation.
• Negotiating compensation terms between agents and the consumers they represent will remain paramount.
• The industry may see reduced listing commissions and buyers responsible for paying their own representative.
• With these rapid changes to the real estate sales process, it is more important than ever to work with highly trained and qualified relocation agents for both selling and buyer.
• This announcement heralds a significant real estate paradigm shift, necessitating all stakeholders’ adaptation and diligence.

NEI has observed more locations implementing buyer agency agreements in recent months.  We increased counseling to buyers regarding these contracts with the early rulings on the NAR lawsuits and will continue to offer support to help avoid financial surprises at closing.  

Longer term, we anticipate a need for companies to review their policies to determine any benefit changes as the impacts of these industry disruptions become clearer.  

NEI continues to monitor the situation and will offer updates to our clients as they become available. Please get in touch with your NEI representative if you have any questions or want to discuss this further.

‍