expand your horizons make the right connections corporate roundtable discussion and pre-conference...
TRANSCRIPT
EXPAND YOUR HORIZONSMake the Right Connections
Corporate Roundtable Discussion and Pre-Conference Survey Results
Insert Session Title HereCorporate Roundtable “take-aways”• Expand pre-decision counseling to include tax issues• Rolling out an “Incent to Rent” on May 1st
• Education of managers & transferees• My role as “traffic director”• Research core/flex policies• Exception = longer repayment• Homesale GBO protected beyond 12 months• International repayment – binding contracts
Pre-Conference Survey Results
Corporate – transfer volume
• Increasing – 42.8%• Decreasing – 0.0%• Remain same – 57.1%
Service Industry – relocation business
• Increasing – 68.7%• Decreasing – 6.2%• Remain same – 25.0%
Insert Session Title HereIn The News Today• GDP grow 2.5% vs. 2.3%• Employment growing 185,000 jobs per month• Unemployment @ 8% vs. 8.2%• Gas @ $3.80 on Election Day• CEO confidence @ 63 vs. 49• TV Show – “House”
Insert Session Title HereCorporate Policy Changes
Recently Made• Limited home purchase benefit to one year, same as
home sale benefit• Added pre-decision counseling• Require associates using home purchase benefits to buy
through coordinator• No top end on LOS• Incent to rent
Insert Session Title HereCorporate Policy Changes
Recently Made• Limited home purchase benefit to one year,
same as home sale benefit
• Added pre-decision counseling
• Require associates using home purchase benefits to buy through coordinator
Insert Session Title HereService Industry - Corporate
Policy Changes Recently Made• Less exceptions to policies…more conservative decision• More short term assignments…more air shipments• Formalized pre-decision program• VIP Programs• Fewer home buyouts• Rental assistance – paying for area tour• Implementation of bonus to encourage home sales
Insert Session Title HereService Industry - Corporate
Policy Changes Recently Made• More BVOs…enhanced loss on sale• Increase in short term domestic• Strategic reduction of aspects of policy• Cost containment and more usage of self-service, lump
sum• Tighter restrictions related to list price• Enhanced assistance for renters
Insert Session Title HereService Industry - Corporate
Policy Changes Recently Made• Elimination of loan origination fee• More deviation from 120 day market period in appraisal
forecasting• Pre-decision support for both current as well as new
hires
Insert Session Title HereCorporate Policy Changes
Contemplated• Stronger list price restrictions
• Incentive to rent for high cost areas
• May add short term assignment
• Reviewing benefits as whole with HR to ensure policies in line with company goals
• Exploring option of going to core/flex
Insert Session Title HereCorporate Survey – what works well in
workforce mobility industry• Relationships…especially when involved in local ERC• Strong, trusting, and honest relationship in a fully
outsourced environment• Consistency with industry practices – appraisals, home
inspection, etc.• Communication, communication, communication• Willingness to share ideas and information
Insert Session Title HereService Industry Survey – what works
well in workforce mobility industry• All key parties share information• Consultative selling• Mentoring as we add younger people to our profession• Transparency• Leveraging opportunities to connect with designated
providers• Relationships…Trust (10 times!)
Insert Session Title HereCorporate Survey – what doesn’t work
well in workforce mobility industry• Industry is still not very transparent• Employees always want more than policy allows• Home sale appraisals are hard to believe at times• Providers assume they know what clients wants• View of relocation services as a “commodity”• Aggressive sales approach…prefer consultative
approach
Insert Session Title HereService Industry Survey – what doesn’t work well in workforce mobility industry• Transferee is not in chain of communication throughout• Multiple suppliers and multiple policies within tiers• People who do not understand entire process rather than
their own niche• Not being in front of your clients• RFPs base upon it’s just time to do one• More SLAs do not equate to better service• Client reduction in relocation staff
Insert Session Title HereService Industry Survey – what doesn’t work well in workforce mobility industry• Lump sum without any service provider network• Excessive policy tiering• Trying to address every scenario within a policy• Haste makes waste…not letting client know what is
going on• Cutting benefits and cost to try and get a better service
Insert Session Title HereCorporate Survey – Transferee
demographics• Millennials have high expectations and demands…expect change
fast…connected through social media• Transferees who moved under a policy prior to 2008• More internal transfers with newer employees• Dual career challenges• Aaargh – requires parent’s approval…more hand holding• Need for sophisticated technology…on demand service• Expectation of more work life balance
Insert Session Title HereService Industry Survey – Transferee
demographics• “Younger employees seem to have entitlement issues…See RMCs
as one of “them”• Younger families have less “stuff” to move• Gen X about being on task…Millennials more about not caring• Going overseas is as routine as going from Chicago to NY• More opinionated and needy• Demand for greater flexibility in policy design• Virtual/remote working more common leading to less relocations
Insert Session Title HereCorporate Survey – Global Issues
• Global moves handled by different department• Still seeing a number of transferees with home sale
issues/upside down on homes• Global is showing explosive growth!• Very high expatriate population…both global and
domestic authorizations are continuing to rise
Insert Session Title HereService Industry Survey – Global
Issues• 95% of our business is global• Global relocation is on the rise• More expats to US…increase in destination services• Global portion of the business is growing faster than
domestic• Challenge is dealing with cultures outside of US where
relocation is not as mature
Insert Session Title HereCorporate Survey – One minute advice
to service industry partner• Keep improving technology• Job well done• Sensitivity training is critical for dealing directly with
transferees• One size does not fit all…review our policies…hear from
you before transferee• I value your partnership…you are an extension of our
mobility team
Insert Session Title HereService Industry Survey – One minute
advice to corporate partner• Allow the professionals to do their job• Ask your providers for ways to improve service delivery• Understand the waters your service providers navigate
day in and day out• Think strategically, take proactive measures• Engage the providers you trust and share information
often. We’re here to serve, so keep us in the loop so that we can do so to the very best of our ability
EXPAND YOUR HORIZONSMake the Right Connections
Thanks for your participation
H. Cris Collie CAE