7. Avg.household income
27% private sector
employees switched
jobs in 2017
4.1% unemployment
rate
More jobs posted
than people to
fill them
Healthy Economy
8. “When the unemployment rate is
lower,employers will adapt to people
rather than asking people to adapt
to them.”
-Lawrence H. Summers, Former Treasury Secretary
9. $$$
A HEALTHY JOB MARKET REQUIRES
THE NEED FOR COMPANIES TO
OFFER STRONG RELOCATION
BENEFITS
11. 1. Changes to tax brackets for individuals
2. Increase in standard deduction
3. Lower corporate tax rate
12. Under the new tax law the
following moving expenses are
considered taxable:
● Household goods
● Storage
● Auto shipments
● Final destination travel
17. 17
1. ADD GUARDRAILS
OTHER WAYS TO CONTROL COSTS WITH NEW TAX LAWS
REVISIT POLICY. REMOVE BENEFITS
THAT ARE NOT NECESSARY.
18. 18
2. REDUCE CAPS
OTHER WAYS TO CONTROL COSTS WITH NEW TAX LAWS
SLIGHTLY REDUCE OVERALL CAP TO
STILL PAY THE SAME AMOUNT, BUT
ALSO PROVIDE GROSS UP TAX
ASSISTANCE TO RELOCATING
EMPLOYEE
19. 19
3. GROSS UP ON SELECT EXPENSES
OTHER WAYS TO CONTROL COSTS WITH NEW TAX LAWS
PROVIDE GROSS UP ASSISTANCE
ONLY ON SELECT EXPENSES, LIKE
HOUSEHOLD GOODS MOVE AND
FINAL TRAVEL
20. 20
4. RE-BUDGET
OTHER WAYS TO CONTROL COSTS WITH NEW TAX LAWS
NEW TAX LAW INCLUDES A BIG
CORPORATE TAX BREAK.
DISCUSS WITH INTERNAL TEAMS TO
SEE IF THERE IS AN OPPORTUNITY TO
RE-BUDGET RELOCATION PROGRAM.
22. RELOCATION INDUSTRY TIMELINE
2010
2011 - 2012
2014
● No technology
● Industry is people and paper heavy
● Tech is introduced as a supplement to a lump sum program
● Developed for millennial and renter populations
● First indication of policy and benefits being built out and
supported by technology
23. RELOCATION INDUSTRY TIMELINE
TODAY ● TECHNOLOGY THAT CAN SUPPORT LUMP SUM AND
DIRECT BILL
● EXTENSIVE REPORTING CAPABILITIES
● SOLUTION FOR SMALL, MILLENNIAL MOVES, ALL THE
WAY UP TO C-SUITE MOVES
2018 &
BEYOND
● EMPHASIS ON EMPLOYEE EXPERIENCE
● INTEGRATION OF DISPARATE HR & PAYROLL SYSTEMS
● 100% AUTOMATION AND ARTIFICIAL INTELLIGENCE