Team Relocations Joins SIRVA

  1. SIRVA
  2. Company
  3. Team Relocations Joins SIRVA
  4. When is a Lump Sum Programme Not Right for Your Mobility Programme?

Team Relocations Is Now SIRVA Worldwide Relocation & Moving!

SIRVA as a global leader in moving and relocation services offers unmatched global breadth and innovative technology, complementing Team Relocations’ longstanding reputation for high quality moving and relocation solutions to some of the world’s leading multinational organisations.

Our resources combine the unique talents and expertise of leaders across a broad scope of mobility-related services. This synthesis is a key part of our commitment to provide our clients and their employees with the best moving and relocation experience possible.

By combining Team Relocations with SIRVA, we offer 75 office locations worldwide with over 2900 employees operating in 180+ countries. Customers benefit from our:

  • End to End Service Delivery Model from departure to destination. We will help you with everything including visa and immigration, employee counselling and VIP services. Our relocation specialists are here to help. 
  • Client Advisory Services.We will work with you, according to your specific needs, to achieve more efficient and high-quality relocations. SIRVA offers a multitude of client financial services, from lump sum to expense management, which are designed to help ease the financial burden of relocating your employees. We can assist in compensation and payroll administration, vendor management, intern management programmes, group move management, and management reporting. 
  • Home and Mortgage Services. From home finding to tenancy management, we can help ease the process of moving and help relocating employees have one less thing to worry about.
  • Moving Services. We can help you and your employees get to where they need to be. Whether moving to a new house, a new office or trying to relocate a pet, we have the resources to help make the process go as smoothly as possible for your employees. 
  • Technology Solutions.Our innovative and flexible technology solutions have been developed you and your employees in mind: easy-to-use, intuitive and helps to save time and resources, whilst enhancing reporting capabilities. We continue to invest in order to improve the relocation process for both mobility teams and relocating employees. 

 

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When is a Lump Sum Programme Not Right for Your Mobility Programme?

  • by Daina Mueller
  • 04 March 2024 07:24:00

When companies choose to move away from a Managed Support Programme to a self-service Lump Sum Programme, they are typically making a number of assumptions. They are assuming their employees have the financial savvy to be efficient purchasers of relocation services, and they have the expertise necessary to source, coordinate, book, and manage those needs and services as well. The reality is that moving in today’s ever-changing environment can be challenging, and there are circumstances beyond the employee’s control that reinforce the need for a Managed Support Programme now more than ever before.

There are a number of reasons why a Lump Sum Programme may not be right for your organisation including, but not limited to:

  • International cross-border moves due to their complexity
  • Employees moving with families with school-aged children, special requirements, etc.
  • Challenging locations due to safety concerns, complex housing markets, not knowing the host language, etc.
  • Moves to locations where temporary housing is limited
  • Mid- to senior-level employees
  • Not being able to provide a highly supportive experience

Listed below are some of the high-level advantages and disadvantages, from the perspective of both your company and your relocating employees, of administering a lump sum policy. Please read our full paper to learn more. 

 

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Advantages of Lump Sum Policy

Disadvantages of Lump Sum Policy

Company

Perspective: 

  • Fixed costs
  • Streamlined administration
  • Improved budgeting
  • Reduced exceptions
  • Reduced productivity
  • Impact on the employee experience
  • Not supportive of sustainability and DEI initiatives
  • Perception of being unsupportive or non-competitive
  • Potential to overpay employees
  • Difficulty establishing payment amount
  • Possible tax disadvantages
  • Misalignment with duty of care philosophies
  • Inability to leverage travel costs savings
  • Loss of data

Employee

Perspective:

  • Perceived flexibility
  • Ease of administration
  • Financial incentive if funds are left over 
  • Employee perception of benefits
  • Lack of support
  • Potential for employees to select lower quality suppliers
  • Cash flow challenges 
 

DOWNLOAD PAPER

For more information on whether or not a lump sum programme is right for you and your relocating employees, and how we can help you make an informed decision, please contact Sirva Global Advisory Services at globaladvisoryservices@sirva.com or reach out to your Sirva representative.