All About Relocation Assistance
Job seekers often want to move closer to the job, but they don’t know how to ask for help with relocation. Most employers do not include funds specifically for relocation costs in their hiring packages. However, some companies offer assistance with relocating as part of the benefits package.
The more highly sought-after career fields tend to offer financial assistance or reimbursement for moving expenses. Nonprofit agencies and government jobs are among these industries, especially if you are transferring within state lines. Military personnel may also be able to transfer payments from one location to another when on assignment. Parents who work at high schools or universities might qualify for free tuition or housing assistance if their children live away from home while attending school full time.
What Is Relocation Assistance
Relocation assistance can be offered in several ways. Some companies will pay for the moving costs, drive your belongings to the new location, and put you up in temporary housing. Others will partially reimburse expenses or offer a lump sum of cash to help with relocation expenses. This may come in the form of a check or a voucher. The most common relocation assistance is a payment plan that allows you to get all of your money quickly, but at different intervals over time.
How Relocation Assistance Is Paid Out
Financial assistance can be issued through multiple sources: the employer’s budget, insurance benefits, tax incentives, or grants from local civic organizations. In addition, if you are moving for work-related reasons that meet federal requirements under the Uniformed Services Employment and Reemployment Rights Act (USERRA), the military may pay for your relocation expenses.
How To Ask For Relocation Assistance
Having a job is often considered one of the most efficient ways for people to gain financial security and stability in life. Nowadays, with so many companies going global through business expansion, relocation becomes a common issue among employees. Unfortunately, having a new location makes it difficult for them to stay connected with their old friends and family members back home—which can have a negative impact on their psychological state of mind. Fortunately, human resource management is aware of this and is always on the lookout for ways to help their employees out.
- Be honest and direct when explaining your situation and identify yourself as a current employee.
- Request the number of the Relocation Specialist assigned to your move for help with arrangements.
- Keep receipts for expenses incurred after you make initial contact, such as temporary living costs, which are tax-deductible.
- Be prepared to offer proof of the expense.
5 Things to Know About Relocation
1. The Relocation Assistance Program is usually paid through a combination of cash, loans, and grants for educational expenses.
2. Some employers require that you sign over some of your moving allowance or request reimbursement after you have completed your move.
3. You cannot be reimbursed for more than 50 percent of the total cost of moving yourself and your family, including shipping household goods and personal vehicles, as well as travel costs for up to five family members.
4. Wherever possible, try to arrange moving services with reputable companies that offer discounts on multiple-move arrangements or long-term storage programs.
5. Moving expense Reimbursement is taxable income, so check with your employer or contact the Internal Revenue Service to see how it should be reported on your federal tax form.