The more skill, education, and experience a position demands, the more compensation and benefits the best professionals demand. This is as true for managers and executive staff as it is for chemists, engineers, and architects. If you hope to acquire and retain impressive professionals for your executive team, you need to carefully consider what pay and benefits you are willing to offer. One area that far too many companies overlook is the importance of offering competitive and attractive relocation packages for executives.
If you only hire from the pool of talent within an hour’s commute of your headquarters or work site, you will severely limit the potential talent your company can attract. Offering executive relocation services allows your company to seek the best talent available for your executive board, regardless of where they currently live or work. Planning and budgeting for executive relocation when you decide to expand your board or fill a key role with new talent ensures you have the resources to secure the best and most competent executive staff available in the energy, infrastructure, and process industries.
There are many critical considerations when creating your executive relocation package. There is the need for visas, if you are considering international talent or sending your team to work abroad. You must also consider tax implications of relocation benefits and international work. Compliance with international employment and tax laws is critical to the success and growth of your company. Small mistakes on permit paperwork or tax withholding can result in financial liability, as well as potential damage to your business’ reputation as a reliable and professional employer.
The typical relocation package for executive workers may include reimbursement or direct payment for moving expenses, travel costs, and acclimation services. Acclimation to a new area, particularly a new country, is not something you should overlook. You may need to provide help with learning the area, language, and information about cultural norms and social rules in the executive’s new location. Failing to do so could leave your new executive team member feeling homesick in the new location. It could further result in communication issues and misunderstanding.
Bringing in new executive talent or relocating your existing executive team to a locale abroad does not need to overextend your human resources team. Instead of risking compliance issues and delays due to the limits of your team’s experience and knowledge, it may be a better decision to work with an outside company to provide relocation for executives within your company. The right relocation company will have experience in the region where your staff is moving, as well as knowledge related to all forms of international mobility compliance.
With more than 60 offices all over the world, Airswift has the global reach and industry experience you can rely on when you need to relocate executives. Whether it is one executive moving to a new job site or an entire board moving to a new location, Airswift has the resources and knowledge to ensure an efficient and compliant move.