relocating expectations - nucompass mobility€¦ · advantage of tax benefits and often creates...

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RELOCATING EXPECTATIONS: Introducing CoPilot

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Page 1: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

RELOCATING EXPECTATIONS: Introducing CoPilot

Page 2: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

Employee relocation has been around for a long time and it’s not going away anytime soon. NOT ONLY THAT, IT CAN BE EXPENSIVE.

Approximate number of employees who relocate in the U.S. each year for Fortune 500 companies alone. (SOURCE: KPMG)

Average relocation cost for a homeowner(SOURCE: WORLDWIDE ERC®)

Average relocation cost for a renter(SOURCE: WORLDWIDE ERC®)

250K $90K $25K

Page 3: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

� We’ve been in the global mobility business for 50 years.

� We were first to market with innovations in web portals, real estate management, mobile apps, e-Signature and global assignment management.

� Our industry may be slow to adapt and innovate, but we’re not.

AT NUCOMPASS, WE’VE SEEN IT ALL

Page 4: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

GIVEN OUR EXTENSIVE EXPERIENCE AND KNOWLEDGE, WE ASKED OURSELVES:

“How could we use technology to greatly improve relocation management?”

Page 5: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

� Relocation costs are increasing and exceptions have become all too common.

� Many relocation policies offer open-ended entitlements that lead to higher costs.

� The “lump sum” approach to cost control doesn’t take advantage of tax benefits and often creates the wrong incentives for employees.

� Hiring managers don’t have the right information about the employee and the cost of each move to make cost-benefit decisions.

We identified several problem areas that weren’t being addressed by relocation management providers:

Page 6: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

We also saw that technology wasn’t being used effectively throughout the relocation process:

WE SAW AN OPPORTUNITY TO SOLVE THESE PROBLEMS.

HR staffs don’t have the tools to

efficiently coordinate the involvement

and approvals of the key participants: hiring

manager, recruiter, HR, and employee.

Services are not delivered the way

many relocating employees want

them: self-service, online, 24/7.

Page 7: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

Gives employees more control over their relocation?

Provides employers, both large and small, with a better way manage the process?

Gives the employer the ability to establish a realistic budget for each move?

Provides an alternative to lump sums that captures all of the tax benefits of a traditional program while ensuring that all funds are spent on relocation?

Does all of that with an easy-to-use affordable platform?

WHAT IF WE COULD OFFER A TECHNOLOGY THAT …

Page 8: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

A NEW, AFFORDABLE CLOUD-BASED TECHNOLOGY SOLUTION FOR MANAGING EMPLOYEE RELOCATIONS

Introducing CoPilot™ by NuCompass:

Page 9: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

� Gives you access to tools that assess an employee’s needs and create a relocation plan and budget for each individual move.

� Empowers your employees to manage their own moves, within your budget parameters, using any computer or mobile device.

� Gives your employees access to vetted suppliers to ensure a quality relocation experience.

� Provides your employees with a full support center.

� Allows you to take advantage of all tax benefits.

� Gives you full tracking, cost reporting, and program compliance.

WHAT CAN COPILOT’S TECHNOLOGY DO FOR YOUR ORGANIZATION?

OUR COMPREHENSIVE PLATFORM:

Page 10: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

WITH THE OLD WAY, YOU HAD THREE OPTIONS.

WANT AN EXAMPLE?Let’s say you have an employee who needs to move from Miami to Seattle.

Page 11: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

#1 #2 #3WORK WITH A RELOCATION MANAGEMENT COMPANY LIKE NUCOMPASS. They take care of everything. It’s great for management or executive level employees.

But it’s probably not a cost-effective solution for the college grad you just hired or the employee who wants to manage their own move.

GIVE THE EMPLOYEE A BIG CHECK AND ASK THEM TO RELOCATE THEMSELVES. There’s no control over how the money is spent. Hopefully the employee arrives on time at the new job, with possessions and sanity intact.

INVEST YOUR OWN TIME TO HELP THE EMPLOYEE WITH THEIR RELOCATION. Contact moving companies, real estate agents, and other resources on your own — testing your sanity in the process and ignoring the fact that you have many other responsibilities.

Page 12: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

� Have clear expectations about the relocation. The relocation plan and budget provides the employee with financial guidance for their entire relocation, which helps eliminate exceptions and unanticipated costs.

� Access our experienced supplier network. Your employee has direct online communication with our vetted partners to get the best pricing and the highest service quality.

� Be empowered to control their own relocation. Employees can access the information they need 24/7 on any device, take charge of their relocation step-by-step, and manage the move on their own schedule.

LET’S TAKE THAT SAME PERSON WHO NEEDS TO MOVE CROSS-COUNTRY.

COPILOT CAN HELP THEM:

Page 13: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

CoPilot helps your organization relocate the employee easily by:

ASSESSING THE EMPLOYEE’S NEEDS: CoPilot asks the employee to provide input on their specific situation, which helps you determine what they need to relocate successfully.

SETTING A BUDGET AND GAINING APPROVALS AHEAD OF TIME: Use the CoPilot cost estimator to develop an accurate budget, and get the employee’s sign-off and all department approvals in advance, so you don’t spend more than you have to.

TRACKING ALL RELOCATION EXPENSES: As your employee moves through the process, you see the costs in real time so you can track progress, take advantage of tax savings, and reduce compliance headaches.

Page 14: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

Unite key participants around the common goal of getting the employee relocated quickly at the lowest possible cost.

Target expenditures to specific activities that will actually get the employee moved to the new location.

Manage and track individual relocations with full visibility and control.

COPILOT WILL CHANGE THE WAY YOU AND YOUR ORGANIZATION THINK ABOUT MANAGING RELOCATIONS.

COPILOT IS EASY TO USE WITH TRANSPARENT, AFFORDABLE PRICING.

Page 15: RELOCATING EXPECTATIONS - NuCompass Mobility€¦ · advantage of tax benefits and often creates the wrong incentives for employees. Hiring managers don’t have the right information

RELOCATING EXPECTATIONS™

Relocations can be easier. CoPilot can help.

LEARN MORE AT: NuCompass.com/CoPilot