How often should you review your relocation policies?

Many companies ask how often they should be reviewing and/or benchmarking their relocation policies for potential needed changes. There is not a one-size-fits-all answer to this question. Many factors can come into play. For example, reviewing relocation policies on a yearly basis for a company that moves several hundred employees every year may be appropriate, while a yearly review would be excessive for a company that moves only a handful of employees each year.  

For most companies, reviewing policies on an as-needed basis makes the most sense. Some of the things that could create a need for a policy review and/or benchmarking study include:

• Changing company goals (e.g., cost savings/containment, increase recruitment efforts/competitiveness).
• Trending exceptions or increased “noise level”.
• Industry fluctuations (e.g., real estate market changes, interest rate changes).
• Comfort level/expectations of the company.
• Needing to justify why benefits are or are not offered.

When in doubt, contact SIRVA. We’re always here to help and can assist in determining when and how often a review of your policies would be best for your specific needs and circumstances.