How Much Do You Know About Relocation?
Exceptions, or expenses that were not originally intended, can impact your company’s annual relocation spend. What's the average amount spent on exceptions in a typical relocation program?
That’s right!Sorry, you’re incorrect! The average amount spent on exceptions is typically 12.5%.*
If your company is spending more than 5% of its total relocation spend on exceptions, it’s time to take a look at your program.
*Results based on a recent NuCompass study conducted to investigate the effect of exception spend on total program costs.
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As we prepare to exhibit at the upcoming HR Tech Conference, we're looking foward to seeing the latest HR innovations and technologies (including a news annuncement about our CoPilot relocation platform!). HR Tech will be held in Las Vegas on September 11-14, and we always look forward to talking with HR leaders about talent management challenges and technology solutions.
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Certainly, you will recall the challenges we all experienced at the beginning of this year due to the change in Federal tax law which removed the tax exclusion for household goods moves and final travel costs. Quick decisions were necessary to determine how to move forward with the tax law changes and whether to provide a level of tax gross-up to employees for these benefits.