REPATRIATION - WHY IT'S JUST AS IMPORTANT TO MOVE EMPLOYEES HOME WELL
By Brynne Herbert
Aug 05, 2013
MOVE Guides supports staff moving both to and from international offices. Learn how companies are using lump sums to move people home as well.
Here at MOVE Guides, we've all managed international moves for work. We've overcome the challenges of setting up, negotiated local culture and deciphered foreign tax law. And, when we've overcome all of these issues, got the expat thing down to a science, put our feet up and smugly thought “I've succeeded”, most of us have realized we have no idea how to move home again!
Commonly forgotten in the expat equation, repatriation support is actually a critical part of the process for companies to consider. Not only do individuals need guidance on what services to discontinue, whether they can keep a foreign bank account and how to negotiate their taxes – because let's be honest, most people don't move in tandem with the tax year – they also need assistance kickstarting their lives in their home country.
How can companies assist with repatriation? With MOVE Guides, companies can put together managed lump sum policies that give employees the autonomy to decide their priorities for the move home. For most, shipping will be top priority but what and how much can vary depending on whether your movers have settled abroad for years or have been on a short term assignment.
MOVE Guides also provides helpful banking assistance for movers. While it might seem counter-intuitive to take advantage of this when heading home, it may actually be crucial for setting up. Unless you are lucky enough to be repatriating between EU countries, you may find yourself dusting off an outdated credit score that doesn't carry much weight anymore. Expat banking services are setup to assist those without all the credit history and capital that makes finding an apartment or home simple. With MOVE Guides, you can connect to these banking services at home or abroad.
Another critical cost for homebound expats is often an accountant who can negotiate their taxes for a mid-year move to ensure they don't get caught out come tax season! MOVE Guides works with expat accountants worldwide who are well versed in not only those abroad but also movers coming home.
So your lump sum policy has helped you ship your things, set up any special banking services you need and kept you squared away with multiple tax offices – what else do you need to set up at home?
More often than not, employees moving back to their home countries do not wind up exactly where they came from. They may move to a new office in a new city or prove so useful in the field they are sent on a domestic assignment, and in the new age of relocation, it is highly likely even if they are back in their old stomping grounds, they didn't sublet while away. Regardless, employees usually need the services they needed to move abroad. This includes a serviced apartment for the first few weeks in town as they acclimate and look for a new home. MOVE Guides partners with reliable companies in cities across the world to provide employees with short-term housing that feels as good as the real thing while they set up. And speaking of the real thing... you can expect many employees will probably use their managed lump sums on realty services to find a new home.
So you thought going home was as easy as closing your eyes and clicking your heels? Turns out that most of the services you needed to move abroad you're likely to need again when moving home!
Get in touch today for a demo to understand how MOVE Guides can help you to support your employees moving home!