Mobility Strategy - Market Practices

U.S. Domestic - Renter

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1 © 2022 Graebel Companies, Inc. All Rights Reserved. This document contains CONFIDENTIAL information. Reproduction and distribution of this document in any manner or for any purpose is prohibited without the express written permission of Graebel Companies, Inc. U.S. Domestic Renter – Market Practices Provision Market Practices Definition > Renters are defined as employees who currently rent their primary residence in the departure location. > An employee may rent an apartment or a rental home in the departure location. Eligibility > Eligibility for renters vary based on employee level, with most employees often eligible for these benefits; in some cases, homeowners who choose not to purchase in the new location can take advantage of any renter benefits applicable to the destination location; similarly, some companies offer home purchase benefits to renters in the destination location. Pre-Candidate Assessment > Counseling to help the employee understand company relocation benefits. > Cost estimates created for budget and/or accrual purposes can be very useful for the business as well. Relocation Allowance > Most companies provide a cash allowance to help mitigate miscellaneous expenses not expressly covered by the policy. > While the Relocation Allowance was historically calculated as a percentage of base salary, many companies have moved to a flat amount, or a variable amount based on family size and/or employee level. For renter policies, this amount can range from $3,000 up to $7,000. > The allowance is usually provided upon signing the Repayment Agreement and within 30 days of the official start date. > The employee is not required to submit documentation to support how this allowance is spent. Home Finding Trip > Companies provide reimbursement for airfare or mileage, hotel, and meals for employee and one accompanying family member. > Some companies will also reimburse childcare costs for dependent children not accompanying the employee on the trip. > The typical length of a Home Finding Trip is 3 days/2 nights; however, for executive- level employees, some companies provide a lengthier trip of up to a full week. > Typically, a full-day rental tour is provided to assist the employee identifying suitable rental accommodations. Rental Assistance > In addition to any support provided during the home finding trip, if applicable, many companies will also provide formal rental assistance upon arrival in the new location. > This provision would only be available if the employee was not able to secure a permanent residence during the home finding trip. > Typical support would be 1 to 2 days of rental assistance.

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