Articles & Whitepapers

The Growing Importance of Pets in Families

It’s clear pets offer unconditional love, loyalty, and companionship, enriching lives across all ages and many companies are starting to recognize this strong bond. Forward-thinking organizations are even expanding relocation policies to better support employees and their companions.

Not convinced? Consider these furry facts:

• 97% of pet owners consider their pets family (Pew Research) and 70% of U.S. households have at least one pet (NAR).
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• 57% of women owners say their pets are just as much a part of their family as a human member, compared with 43% of men who own pets. 64% of pet owners with lower family incomes consider their pets as much a part of their family as a human member, compared with 46% of those with middle incomes (46%) and higher incomes (43%) (Pew Research).
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• Pet owners spent, on average, $4,800 on their animals in 2023 with no plans on cutting back (Bankrate), and the North American pet insurance industry had a record-setting $4.27 billion in total premiums sold in 2023 – a 21.9% increase from 2022 (NAPHIA).

Let’s examine why employers should consider putting pets in policy.

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Supporting Pet Owners Matters

A recent SHRM article, “Want to Be an Inclusive Workplace? Don’t Neglect Pet Parents”, highlights employers that have made strides on parental benefits and other family resources recently.  Organizations that provide pet-owning employees support reap the benefits, said Cerys Goodall, COO of Vetster, in the article. “More workers are pet parents, and it’s important to them.”

Support can include pet-friendly offices, pet insurance, remote work, time off for vet visits, pet bereavement, and even “pawternity leave” - paid leave to care for a new pet. Surveys underscore the strong connection between employees and their pets:

1. Retention: 32% of pet owners in a Nationwide survey said they’d stay longer at a company offering pet benefits. This sentiment is even stronger among Gen Z (49%) and Millennials (45%) (aNb Media, Inc.).
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2. Mental / Emotional Benefits: Over 80% of pet owners working in pet-friendly workplaces report better mental health and increased job satisfaction (Social).
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3. Social Impact: Time spent with pets or in pet-friendly environments can foster social engagement and reduce loneliness (MSU Denver RED).

These findings reflect broader trends of younger generations valuing pet-related perks, which they associate with work-life balance and well-being.

Pets and Corporate Relocation: A Key Consideration

Employers have improved family benefits overall, but pet parents today seek increased support for relocations made at company request. Employers who recognize this and provide resources—such as guidance on pet-friendly housing, relocation assistance for pets, and time off for the adjustment period—can significantly ease the transition:

• U.S. Domestic Relocation Policy:  Unlike an international transfer, pets can typically be transported with their families. Companies should be prepared to address pet transportation conversations for situations where employees are unable to transport their own pets. Caps on the overall benefit can help contain costs.
  
  In NEI’s U.S. Domestic All Benefits Survey, with 224 participants and covering 45 components, key Pet Transport benefit policy highlights included:

• International Relocation Policy:  NEI’s 2022 International All Benefits Survey, with 108 participants and covering 47 components, shows an increase in companies offering pet transport for long-term assignments and permanent transfers.   As companies focus on cost reduction, offering a capped pet transportation benefit can help keep costs down, while still providing families peace of mind, knowing their furry companions can move too.
  
  Our International All Benefits Survey key Pet Transport benefit policy highlights included:

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Where to Start

Don’t know where to start to help those relocating with pets?  

First, understand how many current/past relocating employees are pet-owners.  Once known, incorporate employee feedback received on the topic and review your policies against specific-industry or industry-overall best practices regarding family/pet-focused move benefits.

Our in-house Global Mobility Strategies and Client Relations Management team are pleased to assist.

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The Business Case for Pet-Inclusive Policies

Investing in pet-friendly relocation policies isn’t just good for employees – it’s good for business. Companies that best support pet owners may enjoy increased employee satisfaction, higher loyalty/retention rates, and a reputation as an empathetic employer.

In a competitive labor market … these advantages can make all the difference.

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If you have questions or would like to discuss the topic of pet transportation benefits in policy, other elements of U.S. Domestic or International Policy or our detailed U.S. Domestic or International All Benefits Surveys, please contact your NEI Client Relations Manager or NEI Client Development contact at 800.533.7353 any time.

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This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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What’s at Stake?

When a major merger or acquisition falls through, the corporate fallout can be immense. Companies face direct financial hits like expensive break-up fees, sunk legal costs, and wasted months of effort. For instance, AT&T’s blocked takeover of T-Mobile left it on the hook for a $4 billion termination fee and a sharp drop in its share price. Investors often punish such failures – acquirers that abandon deals typically suffer negative market reactions as the promised synergies evaporate. Internally, failed M&A attempts trigger operational upheaval: leadership shake-ups, morale issues, and costly restructuring are common. One recent example is Penguin Random House’s scuttled $2.2 billion Simon & Schuster merger, which forced a $200 million break fee payment and led to the CEO’s resignation. These debacles also tarnish reputations and erode stakeholder trust. A collapsed deal signals a strategic failure and can invite tougher regulatory scrutiny while risking talent defections – a failed merger can truly be “catastrophic,” resulting in layoffs, brand damage, lost revenue, and other long-term setbacks.

To navigate these challenges, global mobility must be recognized as critical enablers of successful M&A transitions. The ability to seamlessly relocate key personnel, integrate diverse workforces, and establish physical presence in new markets is fundamental to realizing the synergies that drive deal value. Misaligned cultures and talent retention struggles are among the biggest reasons M&As fail, but strategic relocation planning ensures that leadership continuity, employee engagement, and operational efficiency remain intact post-M&As. Relocation plays a pivotal role in harmonizing regulatory, logistical, and human capital complexities, preventing costly disruptions.

Companies that treat mobility as an afterthought often see fragmentation, disengagement, and loss of institutional knowledge derail the intended benefits of an acquisition.

In contrast, organizations that integrate relocation as a core pillar of M&A strategy can accelerate workforce integration, enhance corporate cohesion, and solidify long-term success. Ultimately, relocation is not just a logistical necessity—it is a strategic safeguard ensuring that mergers deliver on their promise rather than unravel in disarray.

The M&A Forecast

After years of subdued M&A activity, M&A activity is expected to spur significant deal making due to reduced regulations and stronger capital markets:

• Barclays Global M&A Team feels the stage is set for robust dealmaking in 2025 and deal volumes could increase up to 15 percent year on year, driven by corporate ambition, increased sponsor activity and cross border activity.
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• Lower interest rates, moderating inflation and rising stock market valuations, reports Skadden, Arps, Slate, Meagher & Flom LLP, may encourage buyers to pursue acquisitions and sectors expected to benefit include energy, digital currencies, industrials, financial services, AI/technology and health care/life sciences.
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• Corporate deal-making is likely to accelerate going forward, reports Morgan Stanley’s “2025 M&A Trends Outlook”, as a favorable regulatory environment and almost $3 trillion in uncommitted capital are among key factors that could drive M&A activity.
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• Boston Consulting Group expects a resurgence in M&A activity to bring a wave of larger transactions, including megadeals.

With expected M&A activity forecasted for the year ahead and beyond, a question Global Mobility, Relocation and Human Resource departments should be asking now is: “Where do we start when we learn about a merger or acquisition that impacts our business?”

How to Successfully Integrate Two Companies: 5 Steps

When the M&A ink is dry, confusion often reigns for those not primed for the challenge. Even normal daily decisions can prove problematic in the new and merging environment.

“More than half of all M&A transactions and post-merger integrations end up destroying value.”

–Boston Consulting Group

Awareness of these 5 steps can help Global Mobility, Relocation and HR professionals play a more strategic role should your company head in that direction.

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Step #1: Ensure Key Stakeholders Are at the Planning Table

“Emotions are often intensified when two companies are coming together; having a clear understanding of the desired outcome for the new entity is essential when collaboratively creating global mobility programs.”

~ Janell Anderson, Chief Experience Officer, NEI Global Relocation

One of the most important factors in achieving a successful M&A transaction is effective integration.  Internally, companies must identify key players from the merging entities to create an M&A project team. Because combining the assets of two or more companies involves employees, Global Mobility, Relocation and Human Resources comprise an important segment of M&A implementation strategy and play critical roles on the transition team, as do Payroll and Accounting.

Six of eight key internal factors that can lead to a failed M&A touch on areas related to HR including:

• Execution/Integration Gaps
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• Talent Issues at the Target Company
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• Not a Well-defined M&A Strategy
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• Not Achieving Expected Cost Synergies
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• Inadequate/Faulty Due Diligence
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• Not Achieving Cultural Alignment
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This illustrates how important it is to invite Global Mobility, Relocation and Human Resources to the planning table to participate in the extensive pre-planning discussions that need to occur before the announcement goes public.

While executives leading a merger or takeover may act more optimistically, impacted groups might be insecure about the potential for dramatic change. Forming strong relationships and cross-departmental teams improve M&A dynamics.

What your team should do first:

The first order of business for the M&A project team related to employees includes:

• Establishing Timelines for what can be shared and when.
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• Sharing Known Dynamics, such as the number of anticipated relocations, locations affected, the new global footprint, potential group moves.
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• Determining Budgets to contain costs of known dynamics.
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• Identifying required Outside Resources, such as the relocation management company.
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• Generating New Policies to retain critical talent.

Once the basics have been established and a general statement of work has been considered, it is time to arrange a confidential meeting with the relocation management company. Because every M&A has its own unique signature, past actions may not fit the current situation.

NEI has vast experience helping numerous companies navigate the complexities of M&A integrations related to global mobility and can be a time and cost saving advocate for planning a successful M&A.

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Step #2: Address Cultural Differences

U.S. companies in the time ahead may look to acquire European companies to strategically expand their footprint and be tactical about what capabilities they want to acquire, according to Morgan Stanley.  As well, companies in Japan are also signaling increased interest in acquiring assets, both domestically and overseas, including buying into Europe for diversification.

Cultural factors and organizational alignment play a crucial role in the success—or failure—of an M&A. However, leaders frequently underestimate the importance of culture, which can result in disappointing outcomes:

• McKinsey & Co. reports that some 95 percent of executives describe cultural fit as critical to the success of integration. Yet 25 percent cite a lack of cultural cohesion and alignment as the primary reason integration efforts fail.
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• According to Aon Hewitt, 58 percent of companies reported they did not have a specific approach to assessing and integrating company culture in a deal.

With the forecasted uptick in cross-border M&A activity, and since cultural alignment is a major factor in a successful M&A, consider investing in cultural training for all stakeholders, including the HR and Global Mobility/ Relocation teams that may work together.

An assessment between key groups is often used to appreciate the differences. Understanding work style, protocol, etiquette, decision-making, and more is critically important for developing the organization’s new culture in a manner that helps everyone feel like a valued participant.

‍Merging Cultures

“Truly global companies around the world are securing supply chains and acquiring companies internationally to do so. We should expect even more cross-border volumes across regions for the foreseeable future.”

~ Mollie Ivancic, SVP of International Services, NEI Global Relocation

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NEI Thriving Example #1

When a North American firm was acquired by an overseas conglomerate, both relocation departments entered the process knowing there needed to be much planning, collaboration, and integration of teams to maintain a return on investment and a seamless transition.

NEI recommended intercultural and communications training for all groups working on or affected by the transition and provided additional area orientation support and integration planning for those who would relocate. This was a crucial step for members of the acquiring company’s overseas management team who were coming to live and work in North America where they would present a different culture and management style to the new workforce.

The company also used the resources of the foreign country’s local embassy and engaged their ambassador to speak about cultural customs and business protocols of the acquiring company’s country to key operational staff in the United States who would be working with new, high-level managers.

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Step 3: Assess Global Mobility Needs and Explore New Strategies

“Global mobility programs create the support structure for new hires and internal transferees alike, it is critical to ensure you have experts who can guide you through the integration of existing programs when developing the landscape for the newly formed entity.”

~ Janell Anderson, Chief Experience Officer, NEI Global Relocation

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Each M&A integration approach is different and tailored to the situation or even an outcome desired by senior management.

For instance, during clear “buyout” situations, leaders from both companies may publicly rename the takeover as a “merger” or a “synergy” to diminish the potential of employee anxiety and improve cross-organization collaboration. It is often assumed that the acquiring company’s policies will supersede the program of the company being acquired, but no hard and fast rules exist.

Group Moves within a new company are a common byproduct of M&A activity. Experiencing and managing a group move is one of the more challenging tasks a relocation manager and company can face. It typically involves targeted new policies, a very customized local approach, communication strategies, multiple meetings, support functions and ongoing collaboration.

Throughout our history, NEI has managed many group moves for our clients, ranging from groups of five to 800 transferring employees/families across numerous industries and global locations. We know how to identify success elements to retain key employees, present the big picture, guide affected employees and manage the entire process proactively. We have found that a strategy does not have to be expensive or elaborate to succeed.

Many Global Mobility, Relocation and Human Resource departments that have experienced M&A events discover that it is also an opportune time to not only customize group move benefits, but also make desired changes to the overall relocation program. The timing of the M&A provides the additional leverage needed to obtain senior management agreement and support.

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Trust is Earned, Not Given | NEI Thriving Example #2

In the merger of two mega-conglomerate companies, NEI took the lead in successfully analyzing and integrating the two companies’ relocation benefits and policies into a comprehensive new program. The client specifically sought NEI’s expertise in offering creative solutions, presenting the agreed approach to impacted employees, and helping to relocate the combined company’s new headquarters to a new site.

Newly combined companies often consult with NEI to conduct an objective, detailed analysis and compare both companies’ policies against current best practices and the client’s industry peers. After the policy comparison, merging companies often choose to move forward with NEI’s policy suggestions because of the focus on cost effectiveness and NEI’s record of delivering high employee satisfaction.

Once finalized, NEI presents its findings at a kick-off implementation meeting involving all key stakeholders. This is an excellent time to cover new program improvements and procedures while ensuring everyone involved is on the same page going forward on both tactical and strategic levels.

When the plan is put into action, desired results are monitored, measured, and reported regularly so the program can be adjusted, as necessary.

Not long after the positive conclusion of this large project, the client merged, yet again, with another rival. NEI helped manage the resulting union of the relocation programs and all transferee/assignee activity continued as a seamless execution of the ongoing program. Communication, collaboration, and a consultative approach helped make both mergers a great success.‍

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Step 4: Manage Expectations and Work Through Differences‍

Working through differences is not limited to companies combining work groups from different countries or regions of the world –internal company cultures can often be diametrically diverse.

NEI has helped the M&A of many companies with polarly opposite and well-entrenched, corporate cultures offering vastly different relocation benefits.

One company may provide generous benefits, while the other very lean. If not carefully managed, a situation like this can lead to dissatisfaction and bitterness, depending on new corporate objectives.

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“Understanding” Helps Us Accept Change | NEI Thriving Example #3

Quickly integrating the relocation programs of two merging companies was complicated enough, but members of a small division of the purchased company were disappointed about adhering to a new policy, much different than the more generous, exception-friendly benefits to which they had been accustomed.

NEI effectively helped the two sides by using a collaborative and consultative approach to compare relocation programs against the company-announced objectives. An enhanced benefits policy grid for the merged companies helped NEI present the findings and discuss why the proposed solution was important to meet company objectives.

Once each division understood the reasoning behind the proposed changes, they moved forward as one, overcoming a potential “relocation roadblock” for the new corporate culture.

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Step #5: Effecting a Calm Transition

Employees in the process of moving are already stressed about relocating and new responsibilities. It is natural to become even more anxious when caught in the middle of a merger or acquisition announcement. Equally concerning are evolving internal processes and ensuring that everyone is on the same page.

Consistency is critical for benefits and processes to be carefully analyzed and clearly documented, so details can be communicated to all without a need for later changes. This includes documenting processes for financial capture, tracking and reporting accuracy.

Taking the time to do it right the first time and preparing consistent documentation ensures that relocating employees and stakeholders will understand and correctly follow any new processes.

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Consistency is critical for communications and documentation uniformity.

Looking at the big picture and analyzing the impact of an M&A on various work groups is also important to foster a calm transition.

In the example below, NEI uncovered a source of great internal anxiety related to new processes and increased workload. NEI was able to create an innovative solution that saved an enormous amount of time and removed a great deal of anxiety by understanding the situation and listening to concerns.

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Work Smarter, Not Harder | NEI Thriving Example #4

For an NEI client, one of the company’s relocation groups experienced a stressful period each year as they had to work extensive hours for a week over the holidays to complete the year-end ‘true-up’ process. They had major concerns about how this would be accomplished with the combined entity and double the employees.

Concerns about the level of staffing, which was not increasing, were also raised – not to mention recognizing that this entire group of employees would be forced to work through the holidays while the rest of the company’s employees would be enjoying their time off.

NEI’s Chief Financial Officer met with all stakeholders involved and proposed a new accounting process to run tax gross-up calculations more often and interface them electronically, since NEI was also managing Expense Tracking. This eliminated the need for the time-intensive true-up process at year-end because NEI would be reconciling for the company throughout the year. The new process handled the task with ease, requiring less time and labor to accomplish a greatly increased workload.

As a result, the client’s team did not need to work that busy holiday week ever again – even with their company size doubling – which was much appreciated by everyone at the company!

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Finding Catalysts for Bold New Strategies

M&A announcements produce their own daunting challenges, but just as COVID-19 forced companies to act, M&A events can serve as catalysts to implement bold strategies tailored to a new and greater company mission and vision including:

• eliminating process bottlenecks
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• improving customer service
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• addressing policy/benefit shortcomings
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• demonstrating the HR/Global Mobility/Relocation group’s value as proactive consultants and
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• leaders creating a more competitive company to increase profitability and grow market share.

NEI has found M&A situations excellent opportunities to help introduce progressive changes or savings measures for which a client had expressed interest or intended to make but may not have had the internal support to implement previously.

What’s to do Next

NEI believes a coordinated approach to integration is critical, and taking proactive, deliberate steps can help foster a smooth transition. We have mastered the key elements of successful M&A integration for relocation and have a passion for working with client leaders to solve business challenges that benefit everyone.

Our global expertise and consulting services are available to help your drive solutions and thrive in today’s challenging, ever-changing world of workforce mobility.

If you have questions or seek to learn more about how we can help your company, please contact your NEI Client Relations Manager or NEI Client Development contact at 800.533.7353 any time.

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This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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Artificial intelligence, particularly Generative AI (Gen AI), has transformed recruitment by automating tasks such as candidate sourcing, resume screening, and even initial interviews. These advancements have streamlined hiring workflows, but they have also introduced new complexities.

Job seekers now leverage AI to craft optimized resumes and application responses, enhancing their ability to bypass AI-driven screening tools. While this increases efficiency, it also presents a challenge: How do recruiters and HR professionals distinguish top talent in a flood of AI-enhanced applications?

To ensure that qualified candidates rise to the top, companies must refine their approach—combining AI-powered insights with human evaluation to assess a candidate’s true potential, not just their ability to navigate digital gatekeepers.

The Double-Edged Sword of AI in Recruitment

To counteract talent shortages, companies increasingly rely on AI-driven recruitment technologies. Gen AI enhances efficiency by automating resume screening, crafting tailored job descriptions, and generating personalized candidate outreach. Some systems even employ chatbots to conduct preliminary candidate assessments.

However, AI is only as effective as the data it processes. Many recruitment algorithms rely on keyword matching, which can inadvertently prioritize less-qualified candidates while overlooking top talent. AI systems trained on biased datasets may further skew hiring decisions, reinforcing systemic hiring disparities.

A recent Financial Times report highlighted this issue, showing how an AI-driven recruitment tool selected a less qualified candidate for an interview over a more suitable applicant due to superficial keyword alignment. Such errors underscore the importance of balancing AI’s capabilities with human oversight.

AI as a Strategic Partner, Not a Replacement

AI should enhance, not dictate, recruitment decisions. When used strategically, it enables more informed hiring while preserving the essential human elements of evaluation—such as assessing adaptability, interpersonal skills, and cultural fit.

Companies must integrate AI insights with expert judgment, using technology to streamline workflows while ensuring that critical hiring decisions remain in human hands. A balanced approach allows businesses to assess candidates holistically, moving beyond keyword-matched resumes to evaluate real-world potential.

Moreover, organizations that prioritize flexibility, inclusivity, and professional development within their hiring practices will attract and retain top-tier talent—even in a constrained labor market.

How NEI Strengthens AI-Driven Talent Strategies

As AI expands hiring horizons, companies are finding ideal candidates in distant states—or even other countries. A recent survey by ResumeTemplates.com found that 56% of full-time employees in the U.S. are actively seeking new roles in 2025, with 80% confident they will find better opportunities.⁴ In a world where job mobility is increasing, relocation support is a crucial competitive advantage.

When businesses identify the right talent, NEI ensures seamless transitions—offering cost-effective relocation solutions while delivering the highest-rated service in the industry. Our expertise goes beyond logistics, providing tools that help assess whether a candidate and their family will thrive in a new location before making a move.

Pre-Decision Candidate Services

NEI’s tailored Pre-Decision Candidate Services program enhances candidate selectivity, ensuring that both employees and employers make well-informed relocation decisions. Our services include:

• Family Needs Assessments – Evaluating what matters most to relocating employees and their families.

• Housing & Area Orientation – Providing personalized housing tours and community overviews.

• Cost-of-Living Comparisons – Offering detailed insights into financial adjustments required for relocation.

Cultural and Language Training Services

Successful relocation extends beyond moving logistics. NEI’s vetted cultural and language training partners provide flexible learning options, including self-paced, in-person, blended, and virtual programs. These services help employees and families integrate smoothly into new environments, fostering long-term success.

Balancing Innovation and Human Insight in Hiring

“AI is both a major disruptor and savior, in that gen AI specifically will influence 4.5 times the number of jobs it replaces,” says Betsy Summers, at research and advisory company Forrester. “Each organization must determine their risk readiness and conduct a thoughtful decision process to prioritize and choose AI use cases.”⁵  

As businesses navigate workforce shortages and the rise of AI, the key to success lies in balancing technological efficiency with human expertise. By leveraging AI to enhance decision-making—rather than replace it—companies can build high-performing teams while ensuring that relocation strategies optimize talent retention and business growth.

To explore how NEI can strengthen your recruitment and relocation strategies, contact your Client Relations Manager or Sales Representative at 800.533.7353.

Final Notes

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

1. https://www.cnbc.com/2024/02/08/baby-boomers-hit-peak-65-in-2024-why-retirement-age-is-in-question.html

2. https://www.conference-board.org/topics/global-labor-market-outlook/press/global-labor-market-outlook-2024

3. https://www.uschamber.com/workforce/understanding-americas-labor-shortage

4. https://www.resumetemplates.com/6-in-10-workers-eye-new-jobs-in-2025/

5. https://www.cio.com/article/2509754/generative-ai-and-preparing-for-a-shift-to-skills-based-hiring.html

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‍Another Step in the NAR Settlement Agreement, but Still More to Come

The Sitzer/Burnett lawsuit, a historic case challenging real estate commission structures, has reached a significant stage with the filing of its final judgment on January 30th. This event follows five years of litigation and a jury verdict that reverberated throughout the real estate industry. Key players, including the National Association of Realtors (NAR), Anywhere, RE/MAX, HomeServices of America, and Keller Williams, agreed to a combined settlement exceeding $876 million. NAR's settlement is particularly broad, encompassing hundreds of MLSs, Realtor associations, and thousands of smaller brokerages and agents.

The final judgment, signed by Judge Stephen Bough, largely concludes the sell-side commission litigation for the participating parties. This includes not only the Sitzer/Burnett case but also related lawsuits naming the same defendants. Of the class of eligible sellers, only 40 opted out, preserving their right to pursue individual legal action. The judgment covers a wide range of sellers: those who listed homes on any U.S. Multiple Listing Service (MLS) during specific periods ending August17, 2024. This date aligns with NAR’s implementation of rule changes addressing some litigation concerns.

While this judgment represents a major step, the legal process isn't entirely complete. Buy-side commission lawsuits are still in progress. Furthermore, some sell-side defendants, notably eXp Realty and Weichert Realtors, are still working through their settlement approvals, and their proposed deals have faced challenges. It's also important to understand the limitations of this settlement. While it addresses claims of excessive commissions or inflated home prices directly related to the challenged practices, agents and brokerages could still face legal action for breach of contract, breach of fiduciary duty, malpractice, negligence, or be held liable for failing to adhere to the terms of NAR's settlement agreement—highlighting the importance of working with knowledgeable real estate professionals.

While this latest development doesn’t have an immediate impact on clients’ relocation policies or practices, we continue to cover the subject and provide updates as events unfold. Please reach out to your NEI representative if you would like more information on this timely subject.

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Older Posts: December 2024

Adapting to the New Normal: How Buyer-Broker Commissions are Shaping the Market Post-NAR Settlement

Since the NAR settlement provisions took effect in August 2024, business has largely continued as usual, according to a recent survey by Real Brokerage. The survey of 300 agents revealed that 63% of respondents reported home sellers often covering buyer-broker commissions. Additionally, 21% indicated that home sellers occasionally showed a willingness to cover these costs, while 12% were unable to identify clear trends among their clients.

Although it is still early, data indicates no significant changes in average commission rates on either side of the transaction, suggesting that both buyers and sellers continue to value the crucial role agents play in facilitating home sales. The majority of agents (55%) reported that home sellers are offering competitive rates of 2.5% or higher. Meanwhile, 37% noted buyer-broker commission offers below 2.5%, and only 1% observed a shift toward flat-fee models. According to Real, these trends suggest that commission compression may not be as significant as previously anticipated.

Looking ahead, agents predict that buyer-broker commissions will either remain stable or see only a slight decrease from historical levels. Forty-nine percent expect commissions to settle between 2.6% and 3.0%, while 32% anticipate a range of 2.1% to 2.5%. Another 10% foresee commissions trending toward 1.6% to 2.0%. Outliers include agents who expect commissions to rise to between 3.1% and 3.5% or to drop to between 1.0% and 1.5%.

Generally, buyers must sign an agreement with the real estate agent that represents their interests.  While they may ask the seller to pay concessions to offset that amount, the agreement will obligate transferees to compensate their agent (in a buying scenario), if the seller does not agree.  

Examples of some of the amendments to home purchase policies include:

If contracting with a referred buyer agent and the seller decides not to cover the buyer agent compensation for the employee, companies may provide assistance with the employee’s obligation.  The type of assistance may include:

• Typical new home closing costs, including the agent’s commission normal for the area
• If a current homeowner, typical new home closing costs and agent’s commission with a cap of 3% as part of the Buyer Agency Agreement.
• Up to a total of 6% for both home sale and home purchase assistance for the employee to split, as needed, between both benefits.

After closing on the new home, employees must submit the Buyer Agency Agreement, the Closing Disclosure statement and a Relocation Expense Report to NEI for reimbursement.

NAR Settlement Impact on Rental Transactions

Although the current NAR settlement does not address rental transactions, the situation is evolving, and it is possible that Renter/Tenant Representation Agreements may eventually become mandatory. New Jersey and Texas already require renters to sign an agency agreement before an agent can assist with rental showings. However, in New Jersey, since tenants are already responsible for paying the agent's fee, the only change is the requirement to sign the agreement.

In Texas, most landlords continue to offer a commission to the renter’s agent. This suggests that the financial impact on transferees and employers remains minimal. This trend is primarily seen with private landlords of single-family homes rather than apartment communities. If apartment communities do offer commissions, they typically deal directly with the agent. We are closely monitoring for any instances where agents request transferees to sign renter agreements and will track and advise on emerging trends.

Again, we continue to monitor the situation and train our single point of coordination Account Executives on the changes, impacts and what to watch for in buyer agency agreements so they can advise your relocating employees accordingly.

Please reach out to your NEI representative for recommendations on how to adapt your policies and practices to the latest changes in the U.S. real estate industry.

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Older Posts: October 2024‍

National Association of Realtors (NAR) Settlement Provisions Go Into Effect

Barring any statement from the Department of Justice that would have caused a delay, the National Association of Realtors (NAR) Settlement provisions became effective on August 17, 2024. By September 16th, all Realtors (NAR members) & NAR related MLS organizations will be required to comply with changes to U.S. buyer broker compensation.

Effective August 17^th

• Buyers must sign an agency agreement with their own agent, which obligates them for that agent’s compensation.
• The MLS will no longer include any information regarding a co-operative commission for a buyer’s agent.
• Commission rates have always been negotiable, but brokers can no longer discuss what is “typical” in any given market.  Each brokerage will determine the minimum compensation they will accept for services offered to buyers and sellers.  
• The agent cannot accept more than is set forth in the buyer agency agreement, even if the seller offers more.

You’re not alone if your organization is uncertain how to adjust to the changes.  The Worldwide Employee Relocation Council (WERC) conducted a survey among corporate and government mobility professionals to understand how they plan to address the NAR proposed settlement. The survey included responses from 47 organizations, mainly large ones with over 20,000 employees. Key findings reveal that:

• 62% of organizations are still deciding how to handle home sales after the NAR changes, and 64% are undecided about home purchases.
• For those that have decided, 45% plan to cover the full buyer agent compensation for home sales, and 43% for home purchases if the seller declines to pay.
• 38% plan to amend existing policies, and 28% will update formal policies related to buyer agent compensation.

The survey serves as a guide for companies to navigate these changes, providing insights into industry trends and potential best practices.

The changes take effect across most of the U.S. but not everywhere. Here is a list of multiple-listing services that are adopting the rule changes. Every state, MLS and brokerage will have unique forms and requirements so working with a vetted NEI brokerage that has a relocation department, a relocation director who will partner with NEI and our clients when issues arise, and, most importantly, relocation trained agents who will be committed to looking out for the employee, has never been more important.

NEI is monitoring the release of standardized WERC Buyer Agency Agreement Rider documents/templates and has been training its single point of coordination Account Executives on the changes, impacts and what to watch for in buyer agency agreements so they can advise your relocating employees accordingly.

Please reach out to your NEI representative for recommendations on how to adapt your policies and practices to the latest changes in the U.S. real estate industry.

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Older Posts: June 2024

NAR Settlement Update | Q&A

The recent settlement agreed upon by the National Association of Realtors (NAR) is soon poised to reshape the U.S. real estate landscape, including the relocation industry. This landmark decision will dismantle established commission structures, leading to an era of increased transparency, competition, and consumer protection.

Below are common Questions & Answers regarding NAR’s settlement practice as of today:

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When does it take effect?

• The NAR Lawsuit is currently scheduled to go into effect on August 17, 2024, but this date may be pushed back again. By September 16, all Realtors (NAR members) and NAR related MLS organizations will be required to comply with NAR settlement provisions.

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What is NEI’s position on the real estate agent commission ruling?  

• NEI recommends approaching this topic on an “as needed” basis for the next several months. Once the settlement is finalized and any Department of Justice requirements are clarified, NEI will have a better sense of the longer-term impact on who pays the buyer agent’s commission.  
• Eventually, policy updates may be needed to clarify exactly what is covered in those cases, but it is still too soon to make those adjustments at this time.

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How is the ruling going to change the industry for both buyers and sellers beyond the commission fee structure?  

• A primary concern for buyers is the ability to come up with the cash needed for the agent’s compensation on top of the challenge of saving for a down payment. This is likely to have the most impact on both lower income and first-time home buyers. Yet, relocating employees who lack new home closing cost benefits will also see their purchasing power diminished.
• Even if sellers continue to cover commission in many cases, this change puts the burden of negotiating that “concession” into the contract squarely on the buyers and their agents.  
• For buyers, using an experienced, highly trained agent becomes even more critical than ever, but many may look to save money by working directly with the listing agent or “going it alone.”  
• Without representation, buyers are at a disadvantage: relocation policies should require the use of a qualified agent to be eligible for benefits.
• Sellers unwilling to negotiate the buyers’ agent commission may find their home takes longer to sell.  
• It has been a “sellers’ market” for a number of years, however, if many buyers drop out of searching for a new home, that sellers’ market could shift.

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How will this ruling impact domestic U.S. corporate relocation programs? Are there international program implications?  

• The expectation is, if buyer agent commissions are not paid by sellers or clients, the financial structure of client contracts will revert to the days of clients paying fees for services, rather than Relocation Management Companies (RMCs) covering their costs from real estate referral fees.  
• For clients with robust programs, covering commission on the buyer side will become common and policies will reflect that, despite the additional cost: buyer agent compensation plus gross-up.  As a condition of covering new home closing costs, including commission, companies should require the use of relocation trained agents referred by NEI.  
• Clients that do not cover new home closing costs or buyer agent compensation may see an impact on recruiting and retention as additional costs to a relocating employee may result in fewer home purchases.
• Internationally, this should only impact those assignees moving to the U.S. with an intent to purchase a single-family home, which is typically a fairly small population.  

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What steps should companies with relocation programs take to ensure no disruption to employee relocation/home sale?

Education is critical:

• NEI has been training its single point of coordination Account Executives for months on the changes, impacts, and what to watch for in buyer agency agreements.  
• NEI provides talking points to its Account Executives, an email with guidance to the relocating employee on what to look out for in those contracts, and an optional Addendum to Buyer Agency Agreement that relocating employees can use with the contract to help limit their risk.  
• This NEI process is on-going and it will continue to be so until the market has absorbed the new processes and stabilizes.

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Are there financial risks to corporate clients or RMCs? Is there an impact on home-sale rebates?

• The financial risk to RMCs is the potential revenue loss from buyer agent referral fees. If companies do not cover that commission, the relocating employee will be responsible. In those cases, RMCs may not be able to collect the referral and will need to charge clients higher exception fees.  
• Also, home sale rebates will likely be reduced or eliminated over time as those calculations assume a certain percentage of referral collection from agents on BOTH the selling and buying sides of each relocation.

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Are there any NAR implications that the general public are not aware of/thinking about?

• Yes; the ruling not only impacts buyers and sellers, but can impact relocating renters as well.  Many NEI clients already cover rental agent commission in markets where it is typical (e.g., New York, New Jersey, Boston, San Francisco, etc.) and this will not change. However, there may be more markets where this becomes common in the future. Renters may ultimately find themselves asked to sign agency agreements, if they are looking for single-family units.  

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What is the industry mood towards the NAR ruling?

• The industry is highly engaged with all the parties and decision makers, and is working behind the scenes to be prepared for a variety of “most likely” outcomes.  
• It will require change, but that’s not new to relocation or real estate: both are resilient and will find ways to best serve clients and relocating families.
• The Worldwide Employee Relocation Council has formed five subcommittees of nearly 60 industry volunteers who are monitoring the ruling and the impact on the industry.

Subcommittees consist of:

• Brokers
• Corporations
• Mortgage & Lending
• Real Estate Related Services
• Relocation Management Companies: NEI’s Connie Pearson, Director Domestic Operations, is on the committee for RMCs  

NEI will continue to work in close partnership with service partners to educate clients and relocating employees to avoid surprises and frustration with the new ruling.  If you have any question about this developing situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

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Older Posts: March 2024

National Association of Realtors Lawsuit Update

A significant development unfolded within the real estate industry as the National Association of REALTORS® (NAR) disclosed a comprehensive nationwide settlement addressing commission lawsuits initiated by sellers across various states. It is imperative to note that the settlement is not final; its final approval by the court is pending, and the court is unsure when this may happen.

The proposal includes two pivotal rule changes as part of this new settlement. Firstly, NAR has committed to implementing a new regulation prohibiting compensation offers on the MLS.  With the rule change, brokers and agents must directly negotiate compensation terms with their respective clients. Secondly, agents must formalize written buyer agreements with potential buyers before facilitating property tours.

These proposed rule changes would take effect mid-July, marking a significant shift in industry practices.

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Key Practice Changes:

• Consumers retain the right to opt for cooperative compensation, provided it is pursued off-MLS through negotiations and consultations with real estate professionals.
• A new rule barring compensation offers on the MLS will be enforced, effective mid-July 2024.

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Implications:

• Despite the prohibition of communicating compensation offers through the MLS, various avenues for compensating buyer brokers will persist.
• Compensation for buyer brokers will remain diverse and subject to negotiation between brokers and consumers. Compensation may include fixed-fee commissions paid directly by consumers, seller concessions, or a portion of the listing broker’s compensation.
• Negotiating compensation terms between agents and the consumers they represent will remain paramount.
• The industry may see reduced listing commissions and buyers responsible for paying their own representative.
• With these rapid changes to the real estate sales process, it is more important than ever to work with highly trained and qualified relocation agents for both selling and buyer.
• This announcement heralds a significant real estate paradigm shift, necessitating all stakeholders’ adaptation and diligence.

NEI has observed more locations implementing buyer agency agreements in recent months.  We increased counseling to buyers regarding these contracts with the early rulings on the NAR lawsuits and will continue to offer support to help avoid financial surprises at closing.  

Longer term, we anticipate a need for companies to review their policies to determine any benefit changes as the impacts of these industry disruptions become clearer.  

NEI continues to monitor the situation and will offer updates to our clients as they become available. Please get in touch with your NEI representative if you have any questions or want to discuss this further.

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Older Posts: October 2023

National Association of Realtors Found Liable

A jury reached a decision that could potentially change how real estate transactions are conducted in the U.S., creating opportunities for significant changes to commissions paid to real estate agents. In the case, Burnett v. NAR et al, the Kansas City, MO, jury found the National Association of Realtors (NAR), and some of the largest national real-estate broker franchisors conspired to artificially inflate home-sale commissions.

The basis of the conspiracy is the condition that a home seller must agree to pay a commission to the buyer’s agent before the home can be listed on NAR’s nationwide Multiple Listings Service database – a database controlled by local NAR associations. And, since most home sales are through the MLS marketplace, the plaintiffs claim home sellers are forced to pay a cost that should be paid by the buyer.

Under the new model, sellers may no longer be responsible for covering the seller’s and buyer’s agents’ commissions, allowing negotiation of different compensation models, and having buyers assume the responsibility of directly compensating their agents.

The NAR believes this could be a substantial challenge for first-time and low-income buyers who might lack the upfront funds to pay an agent, potentially depriving them of valuable expertise.

According to Worldwide ERC, the resolution of this and other related lawsuits could potentially change today’s real estate business by bringing competition, cutting costs, and providing customers with more options.

With uncertainty on how the ruling plays out, and NAR planning to appeal the decision with confidence, NEI will continue to monitor the situation and will offer updates as they become available. If you have any questions, please contact your NEI Client Relations Manager or NEI Client Development Contact at 800.533.7353.

What you and your relocating employees and families need to know to stay prepared.

Who Does This Impact?

Adult passengers 18 and older must show valid identification at U.S. airport Transportation Security Administration (TSA) checkpoints, but starting May 7, 2025, travelers in the U.S. will need REAL ID–compliant identification or approved alternative IDs to board domestic flights and access federal facilities.

What’s Real ID and Why Has It Taken So Long?

The REAL ID Act establishes minimum security standards in the U.S. for state-issued driver’s licenses and identification cards.

Enforcement of the REAL ID Act—a post-9/11security measure—was delayed two decades after the act was passed by the U.S. Congress in 2005.  Delays stem from low state compliance rates, with only about half of state-issued IDs meeting the standards as of 2022.

Check If Your ID Is Compliant and Alternatives

All states are issuing REAL ID-compliant driver’s licenses and identification cards.

Look for a star marking on your driver's licenses or other state photo identity cards issued by the Department of Motor Vehicles—a clear indicator of compliance.

States like Washington, Michigan, Minnesota, New York, and Vermont also issue “Enhanced Driver’s Licenses” (EDLs), which are acceptable alternatives, but may lack the required star marking.

TSA urges travelers to obtain a REAL ID-compliant state-issued driver’s license, state-issued identification card, or another form of acceptable ID well before May 7, 2025.  Their website has a full list of alternative ID documents accepted at checkpoints. These include:

• U.S. passport
• U.S. passport card
• DHS trusted traveler cards (Global Entry, NEXUS, SENTRI, FAST)
• U.S. Department of Defense ID, including IDs issued     to dependents
• Permanent resident card
• Border crossing card
• An acceptable photo ID issued by a federally recognized Tribal Nation/Indian Tribe, including Enhanced Tribal Cards (ETCs).
• HSPD-12 PIV card
• Foreign government-issued passport
• Canadian provincial driver's license or Indian and Northern Affairs Canada card
• Transportation worker identification credential
• U.S. Citizenship and Immigration Services Employment Authorization Card (I-766)
• U.S. Merchant Mariner Credential
• Veteran Health Identification Card (VHIC)

How to Get a REAL ID

Visit your individual state’s licensing agency to upgrade to a Real ID. You will need to provide the following:

• Full legal name
• Date of birth
• Social Security number
• Two proofs of address
• Proof of lawful status

Some states may require additional documentation. The Department of Homeland Security website features an interactive map to help you determine your state’s specific requirements.

Stay Travel-Ready Before May 2025

As the May 2025 deadline is fast approaching, it’s essential that your identification meets REAL ID standards to avoid travel surprises or delays.

For more information, visit the official U.S. government website and take steps today to stay compliant and ready for future travel.

If you have questions or would like to discuss the topic further, please reach out to your NEI Client Relations Manager or NEI Client Development contact at 800.533.7353 any time.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

NEI Global Relocation is pleased to announce that our Service Organization Control (SOC 1 and SOC 2) audits achieved ZERO findings for the fourth year in a row and in seven of the past eight years.

SOC 1 –Compliance with Financial Laws and Regulations to Combat Fraud

A SOC 1 audit is for service organizations and assesses the internal controls and procedures which are in place to protect client data and ensure controls around processes are operating as designed – more specifically related to financial reporting.

A SOC 1 report validates the organization's commitment to delivering high-quality, secure services to clients. This report provides customers with an independent assessment so they can be confident that financial laws and regulations comply with corporate responsibilities to combat corporate and accounting fraud.

" Securing our fourth year in a row of a SOC 1 report with zero findings is a testament to NEI’s commitment to excellence. This milestone reflects our relentless focus on safeguarding financial data, upholding accuracy, and delivering secure, dependable solutions for our clients and their relocating employees,” said Michelle Moore, NEI Chief Operating Officer. “This achievement showcases the commitment our employees have made to maintaining a robust internal control system and consistently upholding our processes with excellence and integrity. It’s a true team effort and we are working diligently to ensure that we continue these amazing results with our transition to SAP.”

The American Institute of Certified Public Accountants(AICPA) specifies that a SOC 1 report provides assurance to clients that a service organization’s financial reporting adheres to the standards set forth in SSAE No. 18.

SOC 2 –Availability, Security, and Confidentiality

The SOC 2 report addresses a service organization’s controls related to services, operations, and compliance. NEI’s SOC 2 reports on the criteria of availability, security, and confidentiality—which are often categorized under data security.

“Cyber security is not an isolated, company effort, but rather a team endeavor,” NEI’s Dar Andrews, NEI Chief Information Officer said. “Achieving our fourth consecutive year of SOC1 and SOC2 compliance, without defects, underscores the partnership among our employees, clients, and suppliers in safeguarding our business systems.”

The SOC 2 report is connected to the SSAE 18 standard and was created in part because of the rise of cloud computing and business outsourcing of functions to service organizations.  

"Our ability to uphold this high standard of excellence reflects our organization’s dedication to data security and privacy. The achievement highlights the daily efforts of all NEI employees,” said Kevin Sefcovic, NEI Information Security and Privacy Director. “We remain committed to safeguarding customer information by continually evolving to address the dynamic security landscape. Doing so ensures trust and reliability for years to come!”

NEI’s Consistent Results

Excellence isn’t just a goal at NEI—it’s a standard we uphold in everything we do. Alongside our impeccable SOC 1 & 2 Type 2results with zero findings, we’re proud to have earned more #1 rankings than any other relocation management company in the 2024 Trippel Relocation Managers’ Survey©. Our leadership in categories such as Overall Satisfaction, Willingness to Recommend, Performance, Quality, and Integrity, along with the highest net satisfaction in Overall Satisfaction, speaks to the unwavering dedication of our team.

Since 2020, NEI has accumulated 54 #1 ratings, far outpacing the next closest competitor, which earned just 23. These exceptional results reflect not only our commitment to client satisfaction but also our relentless pursuit of excellence in every facet of our service.

Should you want more information about these SOC 1 and 2Audit results, please reach out to NEI’s Dar Andrews, NEI Chief Information Officer, or Michelle Moore, NEI Chief Operating Officer. We are always here to help.

How companies can support employees who need to relocate into higher insurance cost areas or retain employees that companies need to have remain there.

Homeowner insurance costs have steadily risen across the U.S., especially in states prone to frequent natural disasters. In these markets, insurance companies often have little choice but to raise rates to protect themselves or stop providing policies altogether, withdrawing from the marketplace.

While home insurance costs may not have been a significant consideration for employees contemplating relocation in the past, employers may soon discover that it is becoming an increasing concern. With inflation and rising costs top of mind for many, employees relocating to higher-premium areas—or seeking to move away to avoid them—may soon base their decisions on more than just salary and benefits.

Why are Home Insurance Rates Increasing?

Taxes and insurance make up more than half of monthly mortgage payments for 9 percent of single-family mortgages in the U.S., up from 4 percent in 2014.  Increasing insurance premiums intensify the lack of affordability home buyers already face today. Even for those who own their home outright, rising annual costs pose a significant budget problem.

Understanding the drivers behind the rising costs and addressing them proactively can lead to better outcomes for all:

Reason 1: Natural Disasters

Catastrophes are a key driver: from wildfires in California and the West to hurricanes in Florida and the South, wind and hail in Colorado and the Midwest, and flooding in Vermont and the Northeast.

Americans in the most disaster-prone zip codes in recent years pay 82 percent higher premiums than those in low-risk areas, per a new report from the U.S. Treasury Department (Business Insider).

Florida, California and other states also have faced regular insurance crises as multiple insurers have declared insolvency, non-renewed policies, or left the states entirely. 2025 shows further increases likely, but states prone to frequent natural disasters may experience higher adjustments (Insurify). 

• ​Insight for Employers: Employees relocating to high-risk zones may face significant and unforeseen financial pressure they may not know about.

Reason 2: Construction Costs

Rising material costs and labor shortages have driven up the price of rebuilding homes. For instance, lumber prices and construction labor rates have seen sharp increases in recent years, leading insurers to raise premiums to cover these higher claims costs​ (TrustedChoice.com).

Additionally, China, Canada and Mexico – top providers of building material imports to the U.S. – are slated for high tariffs proposed by the new administration. If these costs rise because of tariffs and insurance companies have to pay more to repair or replace homes, increases could happen through higher home insurance premiums, per Dean Baker, a senior economist at the Center for Economic and Policy Research.

• Insight for Employers:  Encourage employees to invest in risk-reduction improvements, such as energy-efficient upgrades or fire-resistant materials, which may lower premiums and increase property values.

Reason 3: Reinsurance Costs

Reinsurance, a practice where insurers purchase coverage from other companies to share the financial risk of large losses, has become more expensive due to increased payouts for natural disasters.

As an example, in Florida, specialty insurers dominate the state’s residential market and rely on reinsurance to cover nearly 40 percent of the properties. In contrast, in Georgia, national insurance carriers play a bigger role and rely on reinsurers for less than 10 percent of properties. This can explain why inflation-adjusted premiums in coastal counties of northeast Florida rose by about $1,000 between 2018 and 2023, while nearby counties in coastal Georgia increased by less than $500 (The National Bureau of Economic Research).

• Insight for Employers:  Exploring company partnerships with insurance providers may help companies save money and manage risks. Partnerships may offer special discounts or create custom insurance plans designed to handle specific challenges, helping businesses address rising costs more effectively.

Reason 4: Insurer Withdrawals & Reduced Competition

Some major insurers in high-risk states are withdrawing from the market, according to TrustedChoice.com, leaving homeowners reliant on limited options such as state-backed insurers of last resort. California and Louisiana have been particularly impacted​.

Because lenders typically require homeowners insurance on a property, if a homeowner fails to maintain homeowners insurance, a lender can purchase "force-placed insurance" on their behalf, which is usually more expensive than a regular policy and protects a lender's interest per USAToday.

A study from the Insurance Information Institute found 12 percent of Americans today no longer have home insurance – up from 5 percent in 2019 (USAToday) – the highest level of uninsured homeowners the industry-funded research group has seen. Many of these either own their homes outright and didn’t renew their policies after satisfying the mortgage, or did not find another policy when the one they had was not renewed. The proportion of uninsured owners rose in some major metro areas, especially in Miami, where 21.2 percent of homeowners went without insurance in 2023, up from 14.5 percent in 2021 per the Wall Street Journal.

NEI does not recommend forgoing insurance, as homeowners would be gambling that a catastrophe won’t occur, especially with most people’s net worth tied up in their homes..

• Risk of Inaction: Employees may have been hit with high, unexpected premium spikes which could lead them to increased financial pressure and/or company relocation offer refusals. Offering resources to navigate insurance markets/options can improve the relocation experience.

Assisting Employee Retention and Relocation Acceptance

While the factors behind state’s rising premiums are systemic, there are actionable strategies for employees to try mitigating rising insurance rates:

1. Consider Risk Reduction Credits: Promote state-specific home improvements that qualify for insurance discounts (installing storm shutters, impact-rated windows, wind-rated garage door, upgrading roofing materials, etc.).
2. Lower Deductibles: Understand how raising the policy deductible may impact annual premiums and ask if an insurance agent can help identify any unknown discounts so they don’t have to switch insurance companies.
3. Shop Around: Comparing quotes across providers can be cost-effective. Direct employees to resources or brokers who specialize in competitive insurance quotes. Seek out experienced insurance brokers who can access different options.
4. Increase Bundling: Many insurers offer discounts for bundling multiple policies (like home, life, auto) or installing security and monitoring systems like smoke detectors and water sensors. These measures lower risks and insurance costs.

From an Employer perspective, some organizations may also be able to form partnerships with insurers to offer employees better group discounts or corporate-sponsored policies for employees, just as done with health and life insurance. This should be investigated at each company’s discretion.

Call to Action: Support Knowledge Sharing and Changes Employees Can Make

Rising homeowner's insurance premiums present hidden risks for employees and significant challenges for HR and relocation professionals. These challenges include both increased costs and the risk for those who go without insurance, as well as for those who decide not to relocate to expensive states or leave to save money.

Proactively addressing the issue and helping employees learn and understand what steps they can take, as outlined above, will position the company as an interested, trusted partner in their employees’ well-being.

If you have questions or would like to discuss any relocation-related issue further, please contact your NEI Client Relations Manager or NEI Client Development contact at 800.533.7353 any time.

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This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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The Renters’ Rights Bill, currently progressing through the UK Parliament, is set to bring significant reforms to the rental sector specifically in England – Scotland, Wales, and Northern Ireland have their own separate rental laws and regulations – impacting both new and existing tenants as well as corporate relocations.

Even before becoming law, the Bill is affecting home searches in England: fewer available properties, faster market turnover, and the resurgence of bidding wars.  Further anticipated consequences include higher asking prices, new landlord registration costs leading to higher costs, and a possible preference for corporate rentals, which remain exempt from certain provisions.

“For corporate relocations, a shift to periodic tenancies offers greater flexibility, allowing assignees to terminate leases as needed,” said Sarah Charlton, Senior Global Mobility and Property Specialist at Icon Relocation. “However, concerns over reduced landlord control have already led to lower rental stock levels as some landlords exit the market, potentially making home searches more challenging as well as increasing rents.”

If the Bill is passed, key proposed changes are expected to take effect in mid-2025, but some provisions may be implemented immediately and others phased in later.

“As the landscape evolves, relocation professionals must navigate these changes to secure optimal housing for assignees,” said Mollie Ivancic, SVP, International Services at NEI Global Relocation. “NEI and Icon teams are up-to-speed and trained on the possible impacts of the Bill and prepared for if and when any changes become official.”

NEI Global Relocation and our partners at Icon offer global companies outstanding, proactive guidance to ensure the correct support is always provided. If questions on this topic or other global mobility issues, please contact:

· NEI’s Mollie Ivancic, SVP, International Services: mivancic@neirelo.com +1.402. 397 8486

or

· Icon’s Sarah Charlton: Sarah.Charlton@iconrelocation.com, +44(0)1892 600500

For further details on England’s Renters’ Rights Bill, visit https://iconrelocation.com/the-renters-rights-bill-predictions-and-forecasts/

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The Lunar New Year, also known as the Chinese New Year or Spring Festival, is a significant celebration in many Asian cultures. In 2025, the Lunar New Year begins on 29 January 2025, marking the start of the Year of the Snake.

The Year of the Snake is associated with qualities such as wisdom, intuition, and charm. Individuals born under this sign are believed to be perceptive, intelligent, and graceful.

Festivities typically span 15 days, culminating in the Lantern Festival. This year, the celebrations will conclude on 12 February 2025. The Year of the Snake will continue until 16 February 2026, when the Year of the Horse begins.

While NEI’s Singapore office will only be closed 29 January and 30 January, you may experience disruptions or delays in service as many of our service partner offices in eastern Asian countries that celebrate the holiday such as Bhutan, China, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Tibet and Vietnam, are typically closed for the full extent of the public holiday from 29 January through 12 February 2025.

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Post-Inauguration Rundown & Global Mobility Impact

The global mobility industry may face significant changes due to policy shifts initiated by President Trump. Since taking office on January 20th, the President has signed several executive orders, with more expected to follow. The administration has already implemented reforms in areas such as immigration, energy production, and workforce development, which may create ripple effects, impacting employers’ relocation strategies.

Some of these executive actions are expected to affect U.S. foreign policy immediately, including changes to immigration processes, border security, and talent acquisition—key areas for the global mobility industry.

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Executive Orders and How They Work

The American Bar Association explains, “An executive order is a signed, written, and published directive from the President of the United States that manages federal government operations.” Executive orders are not legislation and allow the President to make policy within existing laws and constitutional authority. However, Congress can limit their impact by restricting funding, and subsequent administrations can revoke or amend them.

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Key Initiatives and Their Implications

Immigration

Recent executive actions signal a shift in immigration policy, including strengthened border enforcement, expedited deportation measures, and anticipated revisions to employment-based immigration programs. Employers should prepare for increased compliance requirements, longer visa processing times, and potential disruptions to employee relocations.

Border Control

Executive orders have heightened border security measures, which may result in more rigorous screening processes and restrictions on entry. These changes could disrupt planned relocations, complicating the movement of employees and their families.

Increased Tariffs

Executive actions emphasizing the protection of domestic industries may lead to increased tariffs on goods imported from certain countries. These changes could raise costs associated with global relocations, such as shipping household goods or acquiring vehicles in the host location. However, some businesses could see benefits from shifting economic dynamics, such as increased domestic production or trade adjustments, which may influence relocation needs and strategies.

Talent Acquisition

The administration's stance on talent acquisition reflects a complex and potentially conflicting set of priorities. While President Trump recently expressed support for skilled immigration programs like H-1B visas, signaling an openness to merit-based immigration, the "America First" executive orders emphasize domestic hiring and workforce prioritization. This dual focus creates uncertainty about the future of employment-based visa programs and how they might be impacted by broader immigration reforms.

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Potential Impact

Employers should anticipate evolving policies that may expand or restrict access to global talent pools, potentially leading to longer relocation timelines, increased costs, and stricter immigration compliance requirements. Changes to visa processing times, quotas, and eligibility criteria could impact companies’ ability to fill critical skill gaps and maintain diverse, competitive workforces. To mitigate these challenges, organizations should proactively adjust relocation budgets, review benefit packages, and adopt flexible global mobility strategies. Monitoring policy developments and remaining adaptable will be essential for navigating this shifting landscape while ensuring workforce continuity and competitiveness, while also staying attuned to potential economic opportunities arising from shifting trade and tariff dynamics.

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Regular Monitoring

As the administration continues to implement its policy agenda, the global mobility landscape will continue to shift. Employers should remain informed of new developments and consider proactive measures to adapt their relocation programs under their evolving business landscape.

For further insights and support, contact your NEI Client Relations Manager at 800.533.7353. Stay tuned for updates as we continue to monitor the potential implications of these executive actions for your business and on the global mobility industry. For a complete list of Trump’s Executive Orders click here.

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Supportive Cultures Benefit Talent Management Goals

Successful recruitment and/or relocation of talent often hinges on more than just the right logistics and financial support—it also depends on one’s corporate culture.

Talent asked to relocate for a new position face not only the stress of the physical move but also emotional and psychological challenges. Corporate culture plays a vital role in supporting them through this process.

To help employees manage transitions, a truly supportive culture can turn a stressful relocation into a smooth process. A lack of cultural support can leave employees feeling isolated, disengaged and maybe regretting their decisions.

Research by SHRM found that a whopping 90 percent of workers who rate their company culture as “poor” have thought about quitting¹.  PwC’s 2021 Global CultureSurvey² also found:

• 69% of businesses who adapted culture-focused initiatives said their company culture gave them a competitive advantage, and
• 66% of executives and board members believe company culture is more important to performance than the organization’s strategy or operating model.

Let’s examine how integrating a company’s positive culture into the relocation experience can be crucial to recruiting, moving, and retaining top talent.

Corporate Culture is Key

Corporate culture is more than mission statements or perks; it embodies the values, beliefs, and behaviors that shape employee interactions and their relationship with the company. When employees relocate, they enter a new social and professional ecosystem, facing unique challenges as they adapt to a new community, office dynamic, and work environment, often without familiar support systems. Companies with inclusive, well-defined cultures provide stability during this transition, fostering a stronger sense of belonging and ensuring a smoother relocation.

Also, understanding the top-tier benefits available is essential for improving employees’ experiences. Focusing on strategic perks and options is an excellent starting point. It is also key to factor in a benefits package during the recruitment and relocation process.

Building a Culture that Supports Relocated New Hires and Employees

Without proper cultural integration, employees who feel disconnected after relocating are more likely to leave a company, often within the first year.

Sandy Costa, an organizational psychologist, wrote in ForbesMagazine³ that – contrary to popular belief – recruitment and retention are not isolated tasks, but are interconnected processes. She writes there are three major “Talent myths” that need debunking:

• Myth 1: Salary is the primary driver of employee retention.

This may stem from assumptions that employees are solely motivated by money. While competitive salaries are essential, other factors are equally important. 

• Myth 2: Recruitment concludes after extending a job offer.

Do not overlook ongoing support in onboarding. This ensures new hires feel welcomed and equipped with the necessary resources and integrated into the company culture from day one.

• Myth 3: Retention starts after hiring.

A key retention component is alignment of employee and company values. By selecting candidates whose values align with those of your company, retaining those employees is likely.

Confronting these myths and offering a welcoming onboarding and relocation experience will have a positive effect on your hiring and retention efforts.  Consider the following ideas for enhanced employee experiences:

• Clear communication and proactive updates from their assigned relocation manager assures employees and family members they are not navigating the move alone.
• Offering flexible relocation benefits. Providing employees the opportunity to select the relocation benefits that fit their needs the best while using a budget tool to work within a predetermined budget can reduce stress and help employees feel more empowered during their move.‍
• A sense of community is important. Company mentor programs—where experienced employees assist with an employee’s acclimation to the new workplace can ease the transition.  This can include introducing them to company groups and committees to help relocated employees build connections and integrate themselves into the new location. Area orientations may also be provided to acquaint the employee and family with the city and its amenities.

NEI’s service delivery model is built to support the needs of our clients and address their employees’ emotional and practical needs during a relocation.  

Also, consider the clear benefit: when a business replaces a salaried employee, it costs six to nine months of their average salary to find another.⁴  

By prioritizing cultural alignment, benefits and engagement, companies can minimize turnover and retain a committed workforce.

The Difference Maker: Communication, Flexibility, Community

Investing in cultural integration goes beyond making relocations easier and impacts overall business success and employee engagement. The goal is about ensuring long-term satisfaction and retention, creating an environment where employees thrive no matter where they are.

A Deloitte survey that interviewed over 7,000 CEOs and HR leaders⁵ reported 82 percent of respondents believed company culture could provide a competitive advantage.

This underscores just how important corporate culture is as a critical factor in successful recruitment and retirement efforts, which in turn supports successful employee relocations.  

While logistical planning and financial assistance are important, a strong culture—rooted in communication, flexibility, and community—helps employees feel valued and connected, even as they navigate relocation challenges.

The result can be a smoother relocation and a more engaged, committed workforce—leading to lower costs, higher profits and better business outcomes for one’s company.

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If you have questions about these situations, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

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This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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1.        https://www.hrmorning.com/news/company-culture-new-competitive-advantage/

2.        https://www.pwc.com/gx/en/issues/upskilling/global-culture-survey-2021.html

3.        https://www.forbes.com/councils/forbeshumanresourcescouncil/2024/06/04/strategizing-recruitment-and-retention-in-an-evolving-talent-landscape/

4.        https://www.peoplekeep.com/blog/employee-retention-the-real-cost-of-losing-an-employee

5.        https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2016/impact-of-culture-on-business-strategy.html

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NEI's 2024 Internship Survey examines U.S. domestic relocation benefits offered to interns by various companies. Key findings include the prevalence of lump sum relocation payments, average expenditures, and common supplemental benefits like travel and housing assistance. The survey explores additional trends toward relocation benefits, recruitment strategy and overall program costs. NEI’s review of the data reveals a shift toward more comprehensive relocation support packages aimed at attracting and retaining top intern talent.

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Participant Demographics and Industry Representation

The survey encompassed 180 total participants, with 119 organizations having active internship programs. Most likely to participate in this survey are those within the manufacturing and technology sectors, with an increased interest by companies with more than 5,000 employees. The number of annual interns per organization remains steady ranging from less than 50 to 100. NEI observed a 5% total decrease in companies reporting annual internship rates of over 101 interns.

Intern Recruitment and Conversion Rates

In 2022, the majority of companies reported planning more than 8 months in advance for intern recruitment. While the most common planning timeline remains 8 months, NEI did observe a slight shift toward shorter 3 to 6 month advance planning timelines. Since this shift is minimal, it could simply be a matter of reduced staffing or priorities among the participant companies. Well planned internship recruitment is likely to provide the highest level of success for the program.

The most common internship length remains 3 months (52%) with minor upward and downward variance. Twenty-seven percent (27%) of organizations report that 10-20% of their interns transition into permanent roles. Despite the increase in remote and hybrid work positions, only 2% of companies report an increase in “never” requiring an intern to temporarily relocate (up to 12%), meaning the “boots on the ground” need is still prevalent. As with any employee, offering relocation benefits to the 88% of interns that are always or sometimes asked to relocate for their opportunity remains crucial. Feeling supported by the company remains a high priority for interns as they consider building a future career within a company. Realizing relocation benefits can be a critical means of support, 94% of companies always or sometimes offer assistance when relocation is required.

Relocation Assistance: Lump Sum Payments and Partial Coverage

The survey reveals a consistent approach to relocation assistance with use of a full or partial lump sum payment to cover some or all expenses, offered by 79%of companies. NEI observed an 8% shift of companies moving away from partial and full lump sums to fully administered intern relocation benefits.  The expenses most frequently covered by a full or partial lump sum included those associated with housing and travel.

When calculating the full and partial lump sum payments, most companies (52%) use a set pre-determined amount for all interns. Some companies will alter the payment based on location (36%), length of internship (6%), move distance (21%), and type of housing provided (6%). Administration of the full or partial lumpsum payment is frequently managed as a one-time payment (79% of companies) with a most common payment amount ranging from $2000 to $3,000. Comparatively, 15% offer monthly payments, typically within the $1,000 to $1,500 range.

Travel and Household Goods

Travel expenses most often covered (outside of lump sum or partial lumpsum) include airfare (86%) and mileage (79%). En route lodging, meals and miscellaneous expenses are commonly covered by the relocating intern. House hold goods benefits are rarely offered (outside of a lump sum or partial lump sum payment) with only 14% of companies offering a small van line shipment. However, 86% of companies cover expenses associated with excess baggage fees incurred by the airline.

Housing Assistance: Trends and Preferences

For housing assistance covered outside of the lump sum or partial lump sum, furnished apartments/housing remained the most popular option in 2024 (68%), followed by a housing allowance (32%) or dormitories (11%), and 14% that let the intern choose from the afore options. When an employee receives a full or partial lump sum or a housing allowance, 11% of companies report making referrals to temporary living, rental assistance, or home finding partners to assist in finding suitable housing. When providing furnished accommodations, most companies consistently require interns to share accommodations, with up to two interns per two-bedroom apartment. A consistently low number of organizations require up to two interns per bedroom. Thirty-five percent of companies provide each intern a private accommodation, up 13% from 2022.

Most companies (82% in 2024) provided housing payments monthly as opposed to a one-time payment (18%). The method for determining housing allowance/stipend varied, with a significant portion based on location/distance (60% in 2024). There was a tie in 2024 for the average monthly housing allowance, with 38% of respondents reporting amounts between $751 and $1,000, and another 38%reporting amounts greater than $1,500.

Intern Contribution and Tax Assistance

In 2024, 65% of organizations did not require interns to contribute towards their housing expenses, while 17% expected the intern to contribute any amount needed for housing that exceeded the housing allowance, and few (9%) expected the intern to contribute a specified dollar amount toward their housing expenses. Tax assistance practices varied, with 53% of companies providing tax assistance or gross-up on full and partial lump sums, 36% provided assistance on housing/housing allowance, 28% on travel expenses, and 3% on household goods shipments.  Nineteen percent of respondents provided no tax assistance on any relocation benefit.

Total Spending and Additional Benefits

The average total spend per intern for the majority of respondents (46%) was more than $5,000.  In addition to the standard relocation package, several companies offered extra benefits to enhance the intern experience. These included:

• Rental finding assistance

• Sign-on bonuses

• Transportation allowances

• Paid time off

• Partners/spouses and dependents included, housed with summer intern

• Vehicle shipments / transportation allowance

• Meals or per diems

Conclusion

The 2024 Internship Survey highlights evolving trends in relocation benefits for interns in the U.S. While financial assistance remains crucial, companies are increasingly focusing on providing comprehensive support that encompasses housing, travel, and additional perks to attract and retain top talent. Greater flexibility in housing options, and a growing emphasis on intern well-being reflect the evolving landscape of internship programs.

Please contact your NEI representative to discuss the survey’s findings or if you would like a copy of the complete NEI 2024 Internship Survey of U.S. Domestic Relocation Benefits.

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Explore the challenges in the U.S. housing market in 2025, from rising home prices and fluctuating mortgage rates to inventory shortages. Learn how these factors affect affordability, relocation, and employee benefits.

A New Administration

The lack of affordable housing in the U.S. has been a major issue during this election for both parties –each offering up solutions in very different ways.

According to Redfin's Head of Economic Research, Chen Zhao, the incoming president's plan includes lowering mortgage rates, loosening building regulations, reducing illegal immigration to make more homes available for American citizens, and privatizing Fannie Mae and Freddie Mac. However, in a November 11, 2024 article in Newsweek, experts suggest that significant changes are not expected in the short term. Home prices will likely continue to rise due to limited supply, and fluctuating mortgage rates may cause both buyers and sellers to hesitate. In the long run, the market could either improve or worsen, depending on which economic policies the new administration prioritizes. "We're all in wait-and-see mode to see which economic policies are addressed first and how they could impact the housing market," says Zhao.

Interest Rate Influence

One of the most significant factors influencing housing market activity is mortgage interest rates. In 2025, while overall interest rates are expected to remain relatively low, potential fluctuations may occur due to broader economic conditions and Federal Reserve policies. However, the rate cuts initiated in September 2024 have primarily benefited credit card, personal loan, and auto borrowers, offering some relief, but homebuyers are unlikely to see the same advantages as mortgage rates are expected to continue climbing.

In fact, following the recent election, 30-year fixed mortgage rates briefly surged, settling at 6.98% as of Thursday, November7^th.  

The rate has risen by nearly 1% since September, even after two Federal Reserve cuts to its benchmark interest rate totaling 0.75%, including the 25-basis point cut announced November 7^th.

Why? Mortgage rates are more directly tied to 10-year Treasury bond yields, which tend to rise when investors expect stronger economic growth and higher inflation. According to Forbes, the likelihood of another cut in January is low, with about even odds that the Federal Reserve will cut rates when they meet again in March 2025.

Inventory Levels

The National Association of Realtors (NAR) reported that the U.S. housing supply, measured in months of inventory, hit a record low of 1.6 months in January 2022. Although the inventory had risen significantly to 4.2 months by August 2024, it still falls short of meeting the current demand. Consequently, demand continues to outpace housing supply—and likely will remain for some time.

While rising material costs, supply-chain issues, and labor shortages stemming from COVID all contribute to the cause, the shortage actually existed long before the pandemic. The U.S. has failed to keep up with the housing demands of a continually increasing population since the Great Recession, which took place around 2007–2008.

Affordability

Affordability will continue to be a major concern, especially for first-time homebuyers.

Although lower interest rates can ease affordability challenges, rising home prices in certain markets may still pose challenges. Government programs and initiatives aimed at supporting first-time homebuyers could help alleviate these pressures.

The Bottom Line for Relocating Employees

A wait-and-see strategy may not be an option for relocating families, as the window to accept a relocation is often short. This creates added stress and reluctance for homeowners who are "locked in" with ultra-low mortgage rates and hesitant to trade them for higher rates in an expensive housing market.

NEI’s 2023 U.S. Domestic All Benefits Survey indicates that more companies are responding to the ever-changing needs of employees and internal business units by including more flexibility in their polices. Survey results also show that more companies are providing lease cancellation and rental finding assistance benefits for executive-level employees. There has also been a small increase in duplicate housing eligibility year over year as employees are opting not to sell their homes, primarily looking to hold on to their existing rock-bottom interest rates.

Amy Smith, Director of Global Mobility Strategies at NEI says, “one question NEI kept in mind while preparing the survey was ‘are more companies offering cost of living allowance (COLA)and mortgage interest differential allowance (MIDA) benefits with the cost of living increasing and the mortgage interest rates climbing so much?’”  According to the survey, the answer is not really. With the cost of living increasing everywhere, the use of COLAs so far has been a relatively small increase compared to the rise in living expenses, but the expectation is that usage could increase more in the coming years. Additionally, only 2% of companies currently offer Mortgage Interest Differential Allowances (MIDAs), for their Executives and 1% for their Directors and VPs.

When considering implementation of a MIDA program, Smith encourages companies to consider the interest rate differential rather than the interest rate itself.

While MIDAs of old used to impose an 8% minimum rate for eligibility, the differential was typically only 2% to 3%. Though rates are now still below that prior 8% threshold, there has been an increase of nearly 5% for some homeowners who purchased around 2%. A more appropriate method would incorporate the MIDA based on a minimum differential vs. the rate.

Looking forward, NEI is constantly monitoring market conditions, client policies, and transferee feedback to collaborate with clients on aligning organizational goals with employee needs.  Please contact your NEI representative for assistance or information on these challenging market dynamics.

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Sources:

1.       https://www.newsweek.com/homebuyers-face-difficult-housing-market-under-trump-presidency-1982705

2.       https://www.cnbc.com/2024/11/07/federal-reserve-cut-interest-rates-what-will-get-cheaper.html

3.       https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

4.       https://www.forbes.com/sites/simonmoore/2025/01/05/heres-the-feds-2025-meeting-schedule-and-what-to-expect-for-interest-rates/

5.       https://www.bankrate.com/real-estate/low-inventory-housing-shortage/

6.       https://www.neirelo.com/podcast/relocation-policy-benefits

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Worldwide ERC Webinar Recap

NEI representatives attended an important, non-partisan Worldwide ERC webinar held on 20 November 2024.

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If you were unable to join this insightful presentation, NEI has prepared a condensed recap of the three primary areas discussed that impact global mobility and talent management in the near future. Topics focused on three key areas:  Visa & Immigration, Tax, and the U.S. Real Estate Market.

1. Visa & Immigration: Policy Shifts and Corporate Adaptation

Immigration policy remains a critical focus for businesses as the U.S. political landscape evolves. Past challenges, such as "Buy American, Hire American" (BAHA), increased visa scrutiny, and travel bans, created significant hurdles for global mobility. Programs like H-1B and H4 visas faced stricter requirements, while ongoing litigation over DACA added uncertainty.

Looking ahead:

• New administration policies could bring further restrictions, particularly in legal immigration.
• Executive Orders and Internal Orders—swift government policy changes—could occur with little to no notice.
• On or after 20 January 2025, hundreds of policies/Biden administration executive orders may be pulled back immediately along with reinstatement of travel bans.
• Enhanced immigration enforcement, slower processing times, potential staffing cuts, and the possible H-1B Modernization Rule focusing on skill-based eligibility may require companies to redefine their strategies.

Staying informed and acting decisively are imperative for businesses that may be impacted in order to ensure workforce stability. Companies should prioritize:

• Compliance: Maintain accurate employee records and prepare for increased site visits and documentation requests.
• Contingency Planning: Develop strategies for work authorization gaps or denied visa applications, including relocation alternatives.
• Proactive Filing: Submit visa applications early and utilize premium processing to mitigate delays.
• Employee Engagement: Support employees through clear travel policies, updates, and resources to address uncertainties.

2. Tax: Anticipated Legislative Changes and Corporate Readiness

Tax reform remains a critical area, with potential changes impacting corporate policies on relocation and mobility.

• Historical Context: The Tax Cuts and Jobs Act (TCJA) eliminated deductions for employee moving expenses, increasing costs for businesses covering relocation. Without intervention, these provisions will expire in 2025, allowing certain relocation expenses, such as final move and household goods shipments, to once again become tax-exempt.
• New Policy Directions: Trump’s proposals include eliminating double taxation on overseas Americans and making car loan interest deductible for U.S.-made vehicles. However, legislative progress depends on navigating budget deficits and achieving bipartisan support.
• Corporate Strategy: Businesses should monitor developments closely, involve payroll teams early, and model outcomes for potential tax policy shifts. Flexibility in adapting policies, as seen after the TCJA, will be vital.

3. Real Estate: Market Dynamics and Regulatory Changes

Election outcomes also influence the real estate landscape, impacting corporate relocations and employee housing.

• Market Trends: Mortgage rates are holding between 6 percent and 7 percent and may remain at this level next year. With stable home prices, slowing price growth (and even declines in some areas), and a continued tight inventory market, affordability will remain a challenge for buyers.
• Regulatory Shifts: A new administration may influence buyer broker compensation rules and bring changes to the Consumer Financial Protection Bureau (CFPB), potentially easing industry compliance burdens.
• Company Considerations: Evaluate housing allowances and relocation packages as market conditions fluctuate. Stay updated on anti-money laundering rules that could affect transaction reporting.

Preparing for the Next 60 Days

To navigate upcoming policy shifts, global mobility and talent management professionals should focus on strategic action and employee support:

• Cross-Functional Awareness: Coordinate with HR, legal, and finance to address questions quickly and manage interrelated impacts of tax, immigration, and real estate changes. Establish clear communication channels for updates.
• Employee Support: Reassure employees through town halls, email updates, and robust travel policies. Clear guidance on potential visa delays or work authorization issues fosters confidence and preparedness.
• Proactive Policy Review: Submit immigration filings promptly using premium processing where possible. Prepare for increased site visits and documentation requirements.
• Disruption Contingency Plans: Develop strategies to address work authorization gaps or relocations—even in countries like Canada where policies may also tighten.
• Long-Term Adaptability: Regularly update corporate policies in response to legislative changes. Monitor key developments in tax, immigration, and real estate to stay ahead of potential impacts.

Proactive Planning + Informed Decision Making

By acting decisively and fostering collaboration, companies can minimize disruption and support employees through a period of change. Of course, NEI will be here as your partner to help you proactively plan and make informed decisions. We will continue to keep you informed of the latest developments.

If you have questions about the information presented or would like to discuss these or any other concerns proactively, please contact your NEI Client Relations Manager or Sales Representative at 800.533.7353 any time.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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Managing corporate relocations is what we do—it’s a dynamic mix of logistics, strategy, and people management.  NEI is dedicated to keeping our clients ahead of the curve. Over the past year, we’ve published a wealth of industry content aimed at informing and supporting our clients. Our content has tackled key real estate developments and offered insights into industry shifts and strategies in navigating global mobility trends.

We’re thrilled to present NEI’s Most Engaging Reads: Top 10 Articles on Corporate Relocation— a carefully selected collection of insights and resources that have resonated most with our readers.

Join us as we dive into the key points of our top articles that’s shaping conversations and driving innovation in the global mobility industry!

1. NAR Lawsuit Update: What to Know (834 views) — discusses the ongoing impact of the NAR settlement provisions that took effect in August 2024 on the real estate market, particularly buyer-broker commissions. Read more

This article addresses important trends in commission structures that are relevant for HR and relocation professionals and emphasizes the need for companies to monitor these developments in order to effectively support their relocating employees.

Given the impact of the lawsuit, it’s not surprising that this article was one of the top 2 most read articles, reflecting its relevance in the current real estate landscape.

Key Points:

• According to a recent survey by Real Brokerage, most home sellers (63%) continue to cover buyer-broker commissions, with no significant changes noted in average commission rates for agents.
• Agents report that competitive rates of 2.5% or higher are still common, with expectations of commissions remaining stable or slightly decreasing in the future.
• Companies may adapt home purchase policies to provide assistance with agent compensation if sellers do not cover these costs, ensuring that relocating employees are properly supported.

2. Tax Treatment of Housing and Other Expenses for Interns vs. Short-Term Domestic Assignees (452 views)—  explains why housing and travel expenses are typically taxable for interns but can be tax-free for short-term domestic assignees. The key difference lies in their "tax home" status and IRS rules for temporary assignments versus internships. Read more

A must-read for HR teams, this article simplifies complex tax rules and provides clear guidance for compliance during intern season.

Key Points:

• Intern housing is taxable since their tax home is the internship location.
• Intern housing may be tax-free only if it meets strict IRS conditions, such as being required and located on the employer’s premises.
• Short-term assignees may receive tax-free housing if the assignment lasts under one year, they maintain a tax home, and work temporarily away from it.

3. NAR Lawsuit Update:  Settlement Provisions Go into Effect (391 views)—    as of August 17, 2024, NAR settlement provisions require buyers to sign agency agreements with their agents, obligating them to pay their agent’s compensation if the seller declines. Multiple Listing Services (MLS) no longer displays cooperative commission offers for buyer agents, and brokers must independently determine compensation rates. A WERC survey revealed that most organizations are still deciding how to adapt, with some planning to cover buyer agent fees or amend existing policies. Read more

This article provides critical insights into the NAR rule changes, helping companies understand and address the evolving landscape of buyer agent compensation.

Key Points:

• Buyers must negotiate agent compensation upfront via signed agreements.
• 62% of organizations remain undecided on addressing these changes in relocation policies.
• Collaboration with vetted relocation-trained agents and brokerages is essential for smooth transitions.

4. Global Rent Increases and the Impact on Company Relocations (299 views) — examines the alarming surge in global rent prices, which have increased by 23.5 percent since 2019, presenting challenges for company relocations and necessitating a reassessment of relocation strategies.

This article highlights the significant challenges posed by rising global rent prices for corporate relocations, emphasizing the need for companies to adapt their strategies and budget accordingly to secure suitable housing for employees. Read more

Key Points:

• Rental prices are projected to continue increasing, driven by factors such as a growing preference for renting among millennials, limited housing supply, rising homeownership costs, and individuals returning to home countries.
• In the U.S. and Canada, renting has become more popular, with significant rent increases in cities like Indianapolis and Chicago. Canada is similarly affected, facing a shortage of housing supply. In EMEA, the U.K. and Dubai are experiencing substantial rent rises due to inflation and competition for housing. APAC markets, particularly Singapore, are seeing rent soar with Singapore now being the most expensive rental market in the world.
• Companies must navigate these rent fluctuations by being proactive in securing housing for transferees and maintaining an appropriate budget to accommodate high rental costs.

5. Relocation Trends: Manufacturing (248 views)— addresses the escalating global labor shortage in the manufacturing sector, amplified by various regional factors and trends that affect industry stability. Key points from the Manufacturing Edition of NEI’s US Domestic All Benefits survey are highlighted. Read more

This article emphasizes the urgency of addressing the labor shortage in manufacturing through immediate and long-term strategies. It highlights the importance for HR and talent.

Key Points:

• The U.S. is anticipated to have up to 2.1 million unfilled manufacturing jobs by 2030, leading to a strong focus on reskilling workers for advanced manufacturing technologies.
• Countries like Germany and Italy are facing labor shortages due to aging populations, which has prompted a move towards increased automation and more immigration to fill gaps.
• Japan’s manufacturing sector is strained by declining birth rates. Meanwhile, while countries like China, India, and Vietnam have youthful populations, they struggle to provide the necessary advanced training. Developing regions, including parts of Africa and Southeast Asia, face challenges from underinvestment in education but hold potential for growth with targeted investment and training.

6. Artificial Intelligence and the Future of Work (243 views)— explores the profound impact of artificial intelligence (AI) on the nature of work and its transformative role in the global workforce landscape. Read more

This article stresses the necessity for companies to adapt to AI's pervasive influence in the workplace. By understanding and leveraging AI, organizations can strategically restructure their workforces and operations to remain competitive in an evolving job market.

Key Points:

• Historically, advancements in technology have both displaced jobs and created new opportunities. However, AI presents unique competition for human roles, challenging the traditional workforce paradigm.
• With AI capabilities such as self-driving trucks and automated financial analysis, the nature of job functions is changing. This prompts a reevaluation of how companies operate, and the skills required from employees.
• AI is influencing recruitment strategies, leading firms to seek talent skilled in AI solutions. It also enables remote work and diverse global teams, but poses challenges in workforce management.

7. New Country Initiatives to Attract Top International Talent (224 views)— discusses how countries are revamping immigration policies to attract skilled labor and top international talent amid increasing global competition. Read more

By adapting their policies to attract and retain skilled workers, countries are positioning themselves for economic success in a rapidly changing demographic landscape.

Key Points:

• Competitive Landscape: Countries are recognizing the need to attract foreign workers to address tight labor markets, as highlighted by the 2023 Hiring & Workplace Trends Report, which indicates a continuation of labor shortages in various economic sectors.
• Strategic Approaches: Successful nations are implementing four key strategies: creating new work visas, modifying immigration policies, providing incentives for occupations in high demand, and enhancing benefits for foreign talent.
• Country-Specific Initiatives: Examples include the UK’s High Potential Individual visa, Hong Kong’s Top Talent Pass Scheme, Finland’s Talent Boost program, and Japan's introduction of the J-Skip and J-Find visas aimed at attracting highly skilled professionals and recent graduates from top universities.

8. 2023 US Domestic All Benefits Survey Overview (195 views)— provides insights from the 2023 U.S. Domestic All Benefits Survey conducted by NEI, which assessed corporate relocation programs and the evolving landscape of employee benefits in response to changing workplace needs. Read more

This article highlights key trends and changes within U.S. corporate relocation benefits, demonstrating the ongoing evolution toward flexibility and inclusivity in response to employee needs. As companies navigate these changes, they must continuously assess and adapt their benefit structures to attract and retain top talent.

Key Points:

• Program Flexibility: Companies are increasingly incorporating flexible policies to meet the diverse needs of employees. A four-tiered policy structure remains common, with a rise in core-flex programs and lump sum-only initiatives.
• Increase in Renters: There is a notable rise in higher-tier renters, prompting companies to adjust lease cancellation benefits and increase rental finding assistance, advocating that this support should be extended to all employees regardless of housing status at the origination location.
• DEI Integration: Diversity, Equity, and Inclusion (DEI) initiatives are becoming integral to relocation programs, with respondents incorporating benefits such as family integration assistance and flex benefit options, aiming to bridge the gap between homeowner and renter benefits.

9. Understanding Peak 65 | Relocation Solutions (173 views)— As the U.S. approaches "Peak 65" in 2024, when over 12,000 Americans will reach retirement age daily, workforce shortages are becoming critical. This article examines the impact of accelerating retirements on organizations and provides strategies to bridge the gap, from leveraging immigration to retaining seasoned talent. Read more

This timely article equips organizations with actionable strategies to mitigate the challenges of workforce retirements and sustain long-term growth.

Key Points:

• The retirement wave highlights the need to address skill gaps, lost expertise, and corporate culture.
• Strategies include attracting experienced talent with inclusive hiring practices and retention incentives.
• Immigration remains a vital solution for filling workforce shortages with younger, skilled workers.

10. Relocation Trends: Energy & Utilities (158 views) — outlines significant findings from the 2023 All Benefits Study focusing on Energy & Utility (E&U) companies and their unique relocation benefits strategies compared to other industries.  Read More

This article features the proactive measures taken by E&U companies in their relocation policies, showcasing their commitment to maintaining a competitive advantage in attracting skilled talent. By leveraging specialized strategies and insights from NEI, these firms can navigate the complexities of the relocation landscape effectively.

Key Points:

• Lump Sum Programs: E&U companies demonstrate a preference for partial and full lump sum programs, with 40-70% of firms offering these benefits based on employee level, compared to 30-51% across all industries.
• Home Sale Incentives: A higher proportion of E&U companies, 74% for executives and 58% for Directors/VPs, provide home sale incentive programs, indicating a competitive approach to attracting talent in a tightening market.
• Market Trends: While many sectors have scaled back home sale benefits due to market pressures, E&U companies have maintained their existing programs, suggesting a strategic focus on talent retention rather than following market trends.

Conclusion

As we wrap up this year’s most-read articles, it’s clear that 2024 has been a transforming year for corporate relocation, shaped by shifting policies, global trends, and emerging challenges. At NEI, we remain committed to empowering our clients with the insights and tools they need to stay ahead in a dynamic industry. These articles are more than just information—they’re a reflection of the global mobility industry and the strategies that will define success in the years to come.

Thank you for joining us on this journey. Here’s to continued innovation, flexibility, and growth as we drive toward success in 2025 and beyond!

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How Relocation Assistance Supports Millennials, Gen Z, and Employers

With rising home prices and high interest rates making homeownership feel out of reach for many Millennials and Gen Zs, offering relocation assistance could be a game-changer for both achieving their dreams and attracting top talent.

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Despite Challenges, Millennials and Gen Zs Continue to Plan for Homeownership

Millennials and Gen Zs certainly know it’s a tough market to buy a home today:

• A recent study by Intuit Credit Karma, based on a survey of over 1,000 U.S. adults, found that nearly one in five respondents who have never purchased a home plan to receive financial assistance from their parents to buy their first home.²
• A similar finding suggests that more than one-third of home buyers from Millennial and Gen Z generations seek financial help from parents to put together a down payment per Redfin.³‍
• A 2024 KB Home and Harris Poll, which surveyed adults across generations, showed that 40 percent of Millennials and Gen Z think about buying a home “at least once a week but feel impeded by current housing market conditions.” ⁴
• When asked about their savings, 63 percent of Gen Z non-homeowners reported having less than $10,000, compared to just 25 percent of Millennials.⁵

Frustration over U.S. housing prices continues to affect all generations hoping to purchase, as home prices rose for the 15th consecutive month in September 2024, with the national median sales price increasing 3 percent from the previous year to $404,500. The median sales price is 49 percent higher than it was five years ago, before the pandemic. By comparison, wages grew only 25 percent in the same period, noted Lawrence Yun, the National Association of Realtors chief economist.⁶

But there are different options companies can take to help younger employees become first-time home buyers when asked to relocate for their company.

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Supporting Relocating First-Time Home Buyers

Despite the statistics above and a steep 4.2 year-over-year increase to home prices,⁷ there are signs of progress. Among all home buyers in the U.S. in 2023, first-time buyers accounted for approximately 32 percent of the total – up from 26 percent in 2022 – per Statista Research Department.⁸

Even in the current corporate cost-cutting environment and with somewhat volatile markets, many companies are in a unique position to make a lasting, personal, and memorable impact on relocating employees who rent, with a relatively small investment in providing renter-to-homeowner benefits.

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New Home Closing Costs

Over the past few years, NEI’s seen a trend toward companies helping renters in the form of home finding assistance and destination new home closing costs. This is often a capped amount based on employee level or policy tier. Average closing costs for a buyer can run between about 2 and 6 percent of the loan amount. The national average closing costs for purchasing a single-family home come to $6,905 including transfer taxes (and $3,860 without) according to data from CoreLogic’s ClosingCorp.⁹

Note on closing costs and N.A.R. Litigation – 2024: Based on recent litigation and class-action settlement agreements, buyers must sign an agreement with a real estate agent that represents their interests. A buyer may ask the seller to pay concessions to offset the amount, though the buyer is responsible if the seller does not agree. Reimbursement is considered taxable income.

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Proactive Counseling on Options

Relocation management professionals and vetted mortgage providers often play a critical role in helping Millennials and Gen-Zs navigate the complexities of home buying. By offering tailored guidance, they can address common misconceptions, highlight available financial incentives, and steer young buyers away from costly mistakes. Below are key areas where expert advice can make a significant difference.

• A common myth held by Millennials and Gen-Zs is that downpayments are a minimum of 20 percent. Of these two generations surveyed by the KB Home and Harris Poll above, only 36 percent were aware that less money can be put down. Younger buyers need to understand what incentives their lender, as well as various loan programs including FHA and VA, has to offer and this includes down payment assistance.
• Millennials and Gen-Zs may want to waive home inspections to buy a home, but this is not recommended and can have serious consequences later. Inspections offer valuable information about a property’s condition, safety and potential maintenance needs and allow for informed decisions to negotiate effectively.

NEI carefully counsels employees to avoid future property eligibility concerns such as excessive acreage, environmental issues or building/material defects to help mitigate risk as well as manage the emotional ups and downs of buying a home, negotiations, and the impact of the NAR settlement changes.

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Preferred Mortgage Lender Benefits

When using NEI’s preferred mortgage lenders, we can enhance relocation benefits for relocating renters by offering direct billing of allowable loan costs, at no additional cost to either the client or the transferring employee. This service includes elimination of junk fees and pre-negotiated costs to manage our clients’ overall costs while providing enhanced services to our clients and their employees. Based on a predetermined list of allowable loan costs (which vary by client policy), lenders are instructed to cover these costs at closing and bill NEI directly. After auditing the charges against the policy, NEI reimburses the lender for eligible costs. Employees are responsible for any costs not covered by their benefits, but they are not required to file an expense report. It's important to note that any costs billed directly to NEI are considered taxable income and will be grossed-up if the policy allows.  This streamlined process adds value by reducing the administrative burden on employees and ensuring clients can offer a seamless, cost-effective relocation experience.

This topic is especially relevant today, as NEI partners with national mortgage lenders daily to help make first-time homeownership a reality.

“In addition to reducing the financial burden of paying common and customary home purchase costs at the closing, U.S. Bank’s worked to make the entire process as easy as possible for young professionals looking to purchase their first home,” said Chris Douglas, AVP, Relationship Account Manager at U.S. Bank. “We’ve built out a portfolio of mortgage products tailored to the unique circumstances that surround a company-sponsored move and we've built a team and a suite of resources to provide guidance on navigating the differences of renting a residence versus purchasing one and how to make an educated, successful financial decision.”

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NEI’s iSelect® Program

To give relocating renters choice and the option to pursue homeownership, an increasing number of companies are using progressive core-flex policies like NEI’s iSelect® when the policy doesn’t differentiate between homeowner or renter at the move’s origin location. iSelect® plans allow transferees to dynamically select relocation flex benefits in accordance with their policy with the aid of a budgeting tool to help them work within budget cap amounts. For many, core-flex plans are a no-brainer—empowering relocating renters who aspire to homeownership to choose benefits that support their goal, while providing companies a practical way to manage costs. A true “win-win” strategy.

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Lock Out from the “Lock-in Effect”

Chen Zhao, Redfin’s economics research lead, believes it may be difficult for mortgage rates to dip below the mid-5 percent range except if there is a full-blown recession: "With no recession, a longer-term neutral rate is basically around 5.5 percent," Zhao said. "It's very possible that mortgage rates will be in the lower sixes by the end of this year…”

"It's going to be a combination of rates coming down a little bit to a level that feels more acceptable and also people feeling more necessitated to move,” said Zhao, who’s optimistic conditions could improve for homebuyers.¹⁰

In short, rates are unlikely to return to pandemic lows, currently hovering about twice as high as they were in 2021 (when they hit a low of 2.65 percent). As a result, many homeowners are experiencing a 'lock-in effect,' where they're reluctant to sell their home and purchase another due to the higher mortgage rates—impacting inventory. The higher rates are even giving some first time homebuyers pause, with a surprising 54 percent of surveyed Gen Z and Millennials incorrectly believing rates are at an all-time high¹¹ (historically, rates peaked at 18.63 percent in 1981).

With inventory low due to the 'lock-in effect' and first-time homebuyers hesitant from sticker shock, many companies are encouraging top talent to relocate by partnering with experienced relocation management teams that offer reassurance and essential support throughout the homebuying process.

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Brainstorming Tailored Solutions for Each Unique Client

Despite perceived obstacles and concerns, 90 percent of Gen Z prospective homebuyers believe they will purchase a home before age 35, with 33 percent expecting to be homeowners by 25. ¹⁰

Helping relocating employees achieve these milestones requires a delicate balance between supporting individual goals and meeting broader talent management objectives. NEI understands this dynamic and works with clients to proactively address new trends and program changes that support recruitment, retention, and relocation goals. By offering tailored solutions that help renting employees fulfill their homeownership ambitions, we also help increase offer acceptances and demonstrate that companies are treating employees fairly. As a true business partner, NEI collaborates with clients to provide unique solutions that align with company culture, budget, and business objectives.

To discuss how we can support your goals, please reach out to your NEI Global Relocation representative at any time.

_{This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.}

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1: https://s201.q4cdn.com/124745054/files/doc_news/Four-in-Five-Americans-Believe-Owning-a-Home-Is-an-Essential-Life-Milestone-yet-Myths-Persist-About-Affordability-and-Buying-Process-2024.pdf

2: https://www.creditkarma.com/about/commentary/gen-z-looks-to-friends-and-parents-for-help-purchasing-a-home-study-finds

3: https://www.businessinsider.com/housing-market-home-supply-real-estate-mortgage-lock-in-redfin-2024-8

4: https://www.builderonline.com/money/mortgage-finance/54-of-americans-think-mortgage-rates-are-record-high_o

5: https://nowbam.com/60-of-gen-z-worry-theyll-never-afford-a-home/

6: https://apnews.com/article/housing-home-sales-real-estate-home-prices-9b36e34fe194713d10fd585fa3fd48f9

7: https://www.nar.realtor/infographics/existing-home-sales-housing-snapshot

8: https://www.statista.com/statistics/208072/share-of-first-time-home-buyers-usa/

9: https://www.bankrate.com/real-estate/average-closing-costs-by-state/#:~:text=The%20national%20average%20closing%20costs,when%20you%20refinance%20your%20mortgage.

10: https://www.businessinsider.com/housing-market-home-supply-real-estate-mortgage-lock-in-redfin-2024-8

11: https://investor.kbhome.com/company-news/news-releases/press-release-details/2024/Four-in-Five-Americans-Believe-Owning-a-Home-Is-an-Essential-Life-Milestone-yet-Myths-Persist-About-Affordability-and-Buying-Process/default.aspx

12: https://nowbam.com/60-of-gen-z-worry-theyll-never-afford-a-home/

Addressing Talent Relocation Challenges in the U.S. Financial Services Industry

‍As competition for top talent in financial services grows fiercer, companies face an urgent crossroads. With tech and AI expertise in high demand, firms must double down on investing in both their workforce and infrastructure—fail to act, and they risk being left behind in an industry primed for major consolidation.

In this high-stakes environment, innovative relocation strategies aren’t just a perk—they’re a strategic necessity for attracting and retaining the talent that will drive future success.

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Rethinking Financial Priorities

“In an environment characterized by rapid change, customer-centricity and agility are key to not just surviving but thriving in the evolving world of finance and technology.” ~ Forbes

The finance and insurance services industry accounts for nearly $2 trillion, or 7.78% of the total U.S. GDP, and employs about 6.5 million Americans.²

While these are impressive statistics, companies across insurance, banking and investing/asset management are facing fundamental shifts in their business models.

For many financial services companies “their short-term attention has focused on navigating economic uncertainties and implementing strategies to preserve capital and to drive long-term value creation,” reports consulting firm EY.³

• After a multi-year hiring boom, U.S. asset management firms and banks resorted to cutting costs where they could because of economic uncertainty. Global banks saw a significant reduction in their workforce in 2023, shedding over 60,000 jobs,⁴ but some banks anticipating a resurgence in dealmaking, held off on deeper staff cuts.
• Though a return on equity of above 10 percent is forecast into 2025 for property and casualty companies, the insurance industry as a whole has serious challenges going forward, including cost pressures, technology disruptions and changing consumer expectations. Another glaring issue for the insurance industry, which provides approximately 2.9 million jobs ⁵, is an aging workforce with an anticipated loss of 400,000 workers by 2026.⁶
• The banking and financial services sector has been drastically altered by the advent of AI and is starting to fully exploit what is possible. By 2022, 54 percent of financial companies implemented widescale adoption of AI or considered it a critical asset for the future.⁷ “While its use is growing. Generative AI is still in its infancy in banking and hasn’t changed everything”, per The Financial Brand.⁷ With future technology and AI opportunities in high demand, financial services companies “will have to make investing in infrastructure and talent a top priority or risk getting left behind,” reports EY

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Embracing M&A Disruption

Strategic growth and a push for product and services diversification in the Financial Services sector is expected to drive increased Mergers & Acquisitions (M&A) activity in the years ahead.

Proof of this can be seen in EY’s recent CEO Outlook Pulse Survey in which 90 percent of financial services CEOs are planning to engage in M&A over the coming year and 72 percent intend to increase their investments in acquisitions.⁸

M&A deals also enable companies to acquire highly sought after talent pools where critical skills are needed. Other reasons behind financial service M&A activity, as reported by Deloitte, include:

• A focus on diversification, greater regulatory oversight, and the desire to shed low-yielding assets In the banking industry will likely drive further consolidation and more M&A activity.⁹‍
• In the insurance industry, access to more information sources, products, and services are key drivers. Insurance technology companies (“InsurTechs”) remain the core center of M&A activity.¹⁰‍
• Deals in the investment management and wealth management industry will likely be driven by M&A of smaller investment firms that find it difficult to compete with larger investment managers in this challenging, highly volatile, and low-margin environment.¹¹

Relocation, Talent Management and HR teams at Financial Services companies comprise an important segment of an M&A implementation strategy and play critical roles on the transition team, as do Payroll and Accounting.  

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Key Findings from NEI’s Global Relocation’s U.S. Domestic All Benefits Study

To thrive in the years ahead, HR, Talent Management, and Global Mobility teams in the Financial Services industry must creatively and progressively strive on a daily basis to remain competitive in today's labor market yet cater to each company’s unique goals and budgets.

Nevertheless, demand for innovative, flexible relocation benefits is no longer an optional feature—it's become an essential necessity. Adjustment of one’s approach  starts with examining the benefits employed to confirm they actually support one’s business drivers.

Consider the notable findings below of Financial Services companies participating in NEI’s Global Relocation’s  U.S. Domestic All Benefits Survey:

• Program Flexibility - Financial Services companies are increasingly adopting core-flex policies, providing tailored support to meet diverse employee needs. However, non-standard policies, such as commuter benefits, are utilized less often than in other industries.
• Lump Sum Benefits - Partial lump sums are gaining traction, offering greater flexibility over traditional managed benefits. Interestingly, the amounts allocated for higher-tier employees significantly exceed those of the general industry.
• Origin Home Programs - Financial Services firms rely more heavily on BVO programs for mid-to-high-tier relocations compared to the broader industry. However, GBO programs remain less common in this sector relative to others.
• Tax Gross-Up Policies - Tax assistance is a priority, with Financial Services companies offering tax gross-ups on a broader array of benefits than the general industry.

By leveraging these data-driven insights, organizations can craft relocation policies that not only attract top talent but also align with their operational objectives, paving the way for sustained success.

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“The Bottom Line”: Embrace Disruption and Maximize Relocation’s Role

“Those [financial services companies] who choose to invest in that future now—to catalyze the creation of new products and services that can enable positive outcomes—could set the stage for competitive advantage for some time to come.” ~ Deloitte¹²

A final key industry takeaway from the post-pandemic era is the value of integrating resilience into daily operations to meet the need for transforming operations, per a Deloitte survey.¹³ This has prompted investment management firms to consider shifting their in-house operational processes to front, middle and back-office processes to expert service providers.

With three decades of experience serving clients in the industry and a deep understanding of its key details, NEI Global Relocation works in complete alignment with companies to achieve their relocation priorities, objectives, and talent management goals. A true partnership, to us, means blurring the lines between supplier and corporate client to become a strategic resource.

The bottom line – NEI is a partner that will deliver the best return on your investment. We proactively advise you on current and future trends, and fully support you as you recruit, retain, and relocate talented candidates.

For more information, please contact your NEI representative.

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About NEI Global Relocation

NEI is a certified Women’s Business Enterprise headquartered in the U.S. with in-region offices and teams in Switzerland and Singapore. We are a full service, global relocation and assignment management company that partners with clients across the globe to provide consultative guidance and solutions. NEI has over 200 clients including many Fortune 500 and Fortune 1000 corporations and we support client Tier 1 and Tier 2 supplier diversity goals each year. For more information and other articles, see www.neirelo.com.

_{The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.}

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1. https://www.zippia.com/advice/financial-services-industry-statistics/#:~:text=The%20insurance%20and%20financial%20services,6%25%20from%202020%20to%202025.

2. https://datausa.io/profile/naics/finance-insurance

3. https://www.ey.com/en_us/strategy-transactions/the-navigator-perspectives-on-financial-services-m-a

4. https://www.ft.com/content/cbc6e15d-3c63-49af-9f98-ef8f478431bd

5. Statista - Number of employees in the insurance industry in the United States from 1960 to 2022

6. https://rsmus.com/insights/industries/insurance/skills-gap-in-insurance-industrys-aging-workforce-is-a-growing-concern.html

7. https://thefinancialbrand.com/news/fintech-banking/must-follow-bank-and-fintech-trends-for-2024-and-2025-180715/

8. https://www.ey.com/en_us/strategy-transactions/the-navigator-perspectives-on-financial-services-m-a

9. https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/banking-industry-outlook.html

10. https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/insurance-industry-outlook.html

11. https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/investment-management-industry-outlook.html

12. https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks.html

13. https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/risk/ca-resilience-by-design-en.pdf

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The worldwide labor shortage in the manufacturing industry is a growing concern, exacerbated by several global trends and factors that impact industries across different regions.

• United States: The U.S. is experiencing significant shortages in skilled labor for manufacturing, with estimates of up to 2.1 million unfilled jobs by 2030. There is a focus on reskilling workers for advanced manufacturing technologies.
• Europe: Aging populations in countries like Germany and Italy are leading to a shrinking labor force. Countries are focusing on automation and increased immigration to address the shortfall.
• Asia: Japan faces a severe labor shortage due to its declining birth rate and aging population. In contrast, countries like China, India, and Vietnam have large youth populations. However, they face challenges in providing the advanced training and education needed for skilled roles in manufacturing.
• Developing Economies: Africa and parts of Southeast Asia face challenges from underinvestment in education and infrastructure. However, with targeted training and increased investments, they have the potential to meet global manufacturing demands.

The global labor shortage in manufacturing is a complex, multi-faceted issue requiring both immediate solutions (such as increased automation) and long-term strategies (such as education and workforce development). Addressing this shortage is crucial for ensuring the stability of supply chains and continued industrial growth.                                                                                                                                                                                                                                      

Talent Management and HR teams need to adapt and rethink relocation strategies to attract and keep top talent. This means taking a fresh look at today’s benefits and making sure they’re set up to meet tomorrow’s needs.

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Key Takeaways from NEI’s 2024 International All-Benefits Survey | Manufacturing

Notable findings from 21 participating manufacturing companies in NEI Global Relocation’s 2024 International All-Benefits Survey | Manufacturing Edition include:

PROGRAM OVERVIEW

• International policy structures for manufacturing align closely with general industry policies. The most common policy types are permanent transfers, long-term assignments, and short-term assignments. Local-hire policies follow, though they are 47 percentage points less common.
• Partial lump sums are more common in manufacturing industry policies when compared with general industry and are primarily allocated for long-term assignments and permanent transfers. Although uncommon, lump sum only policies in manufacturing are used at similar rates for permanent transfers in the general industry but rarely for short-term or long-term assignments.
• Global health plans are most common in the manufacturing industry where the general industry provides either a home-based or host-based plan approach in managing health coverage.

SUPPORTING THE FAMILY

• Cultural & language training are offered in all policies at a higher rate for manufacturing than in general industry.
• Pet shipment is more commonly offered in the manufacturing industry with the majority offering  pet transportation with a cap to manage overall cost.
• Destination services offered to all long-term assignments & permanent transfers with the most prevalent services provided through a destination service provider for limited services (e.g. specific benefits only or capped days/amount).

COST IMPACT POLICY CHANGES

• Offering a furniture allowance in lieu of a household goods shipment is more commonly offered by the manufacturing industry with a flat amount for all employees being the most prevalent calculation methodology.
• Storage benefits decreased in general industry from 2022  to 2024, and the manufacturing industry has an even lower rate of offering the benefit most likely due to cost containment.  Most common for long-term assignments and permanent transfers was 15–30 days storage.
• Relocation allowance usage is higher in the manufacturing industry with an increase in companies offering the allowance across all policy types. Companies are also shifting more towards offering a flat amount per assignee, instead of offering a percentage of the assignee’s salary.

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Investing in Future Competitiveness Today: The Role of Relocation

As cost containment pressures mount, manufacturing companies stand to benefit from not only seeking out opportunities for cost-savings, but embracing creative policy design, efficient technology, and practical expertise focused on streamlining relocation processes, enhancing employee experience, and maximizing long-term value. NEI Global Relocation is dedicated to aligning fully with each client's priorities, business goals, and talent management strategies.

When choosing a global relocation partner, look for a company committed to maximizing your ROI, providing forward-thinking insights on industry trends, and supporting your mission to attract and seamlessly relocate top talent.

For more information, please contact your NEI representative.

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About NEI Global Relocation

NEI is a certified Women’s Business Enterprise headquartered in the U.S. with in-region offices and teams in Switzerland and Singapore. As a full service, global relocation and assignment management company that partners with clients across the globe to provide consultative guidance and solutions, NEI has over 200 clients including many Fortune 500 and Fortune 1000 corporations and we support client Tier 1 and Tier 2 supplier diversity goals each year. For more information and other articles, see www.neirelo.com.

_{The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.}

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Why the Trippel Relocation Managers' Survey Matters

Each year, the Trippel Relocation Managers' Survey, conducted by Trippel Survey & Research, LLC©, offers an independent, data-driven evaluation of relocation management companies. This survey draws on first-hand feedback from corporate relocation managers who evaluate performance metrics based on their experiences. It’s a trusted benchmark in our industry, valued for its objectivity and thoroughness, helping companies make informed decisions about their RMC partners.

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NEI’s 2024 Performance at a Glance‍

• ‍Highest Overall Rating: NEI received the highest average rating across all surveyed RMCs.
• #1 Rankings: NEI achieved more #1 rankings than any other relocation management company in critical categories.
• Top 3 in Every Category: NEI is the only RMC to rank third or better in every category this year.
• Top Transferee Satisfaction Score: NEI earned the top average score among all RMCs for transferee satisfaction in the 2024Trippel Nationwide Relocating Employee Survey.

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Why These Categories Matter

The categories in which NEI received #1 rankings are evaluated annually and consistently recognized as core indicators of service quality, client trust, and program success. Here’s a look at why they matter:

• Overall Satisfaction: This broad measure captures clients’ overall contentment with NEI’s services, touching on every part of the relocation experience.
• Willingness to Recommend: Perhaps one of the truest indicators of satisfaction, this rating reflects how likely clients are to voluntarily recommend NEI to their colleagues, underscoring our trustworthiness and the strength of our client relationships.
• Continuation of Services: Reflects clients' likelihood of continuing with NEI in the coming year, a testament to the reliability and consistency of our service over time.
• Integrity: A category that speaks to the heart of our work. This measure reflects NEI’s commitment to honesty, transparency, and upholding strong ethical standards in all client interactions, which are crucial to long-term partnerships.

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How NEI Defines Quality in Relocation

At NEI, quality means being thorough, proactive, and responsive, ensuring that each relocation is uniquely tailored to meet client and employee needs. From the planning stages to ongoing support, we prioritize a smooth, seamless experience that goes beyond the logistics of relocation. Our team strives to deliver a high level of service with consistency, trust, and a focus on making each client feel valued. This commitment is reflected in the survey’s high ratings and the strong client relationships we’ve built year after year.

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Discover the NEI Difference

For businesses looking to elevate their relocation program, NEI’s proven track record and personalized approach offer a standard of reliability that makes a real difference. Contact us to learn more about how we can help you build a relocation program that supports and drives your business forward.

For a detailed look at NEI’s performance and insights from the 2024 Trippel Relocation Managers' Survey, download the full report here.

The U.S. Centers for Disease Control and Prevention (CDC) estimates 700,000 dogs enter the U.S. by air each year. New entry requirements for dogs flying into the U.S. started on August 1, 2024, to prevent the reintroduction of canine rabies. Here’s what you need to know:

1. Rules for Dogs Coming to the U.S. – from Low-Risk or Rabies-Free Countries

If someone is flying with a dog from a “low-risk” or “rabies-free” country, the process is much simpler now: dogs from these countries only need the CDC dog import form to enter the U.S., as long as they haven’t been in a high-risk country in the last six months.

This form can be filled out at any time before travel, but it should be completed well in advance to avoid delays. Travelers need one form per dog, which is valid for six months and can be used multiple times during that period. Dogs must still meet a few requirements, though:

• they need to be at least six months old,
• look healthy upon arrival, and
• have a microchip that can be read by universal scanners.

The previous requirement for a rabies vaccination certificate or U.S.D.A. health certificate is no longer needed for dogs from low-risk countries.

2. Rules for Dogs Coming to the U.S. – from High-Risk Rabies Countries

The new rules are strict for dogs entering from the 111 countries the CDC cites by as high-risk rabies countries, including Brazil, China, Colombia, Egypt, the Philippines, Turkey, the UAE, and others. See the CDC’s full list.

U.S.-vaccinated dogs need the CDC import form, a rabies vaccination certificate, and a microchip. If a dog was vaccinated abroad, the owner must provide a certification of foreign rabies vaccination and a rabies serology titer report from a CDC-approved lab. These dogs also need a recent photo showing the dog’s face and body.

If the rabies serology titer report isn’t available, the dog must be quarantined and tested at a CDC-registered animal care facility upon entry. Individuals will need to make a reservation at one of these care facilities before arriving in the U.S.  The CDC dog import form is only valid for one (1) trip and a new form must be completed for each entry into the country.

Dogs Arriving from High-Risk Countries Can Only Enter at Six Approved U.S. Airports Now

Another major change is that all dogs arriving in the U.S. from a high-risk rabies country must fly into one of only six (6) approved airports:

• Dulles International Airport (IAD),
• Miami International Airport (MIA),
• John F. Kennedy International Airport (JFK),
• Philadelphia International Airport (PHL),
• Los Angeles International Airport (LAX), and
• Hartsfield-Jackson Atlanta International Airport (ATL).

Previously, pet owners were able to fly into twelve (12) additional airports.

There is, however, an exception. Service dogs can enter the U.S. through seaports, as long as they accompany their owner.

It is also critical to check with airlines before flying. Some airlines’ policies will vary and some will now only allow pets from high-risk countries to travel as cargo, rather than in the cabin. Airlines may also require extra documentation and fees, depending on their specific policies. Always check in advance.

Prepare Early

“The journey of life is sweeter when traveled with a dog.” — Unknown

If traveling with a dog from a high-risk country, planning ahead is key. Make sure to have all necessary paperwork, book a reservation at a CDC-approved facility in advance, if needed, and check airline rules to avoid any last-minute issues.

”Relocating with pets adds a level of stress to the overall process,” says NEI’s Mollie Ivancic, SVP, International Services. “It is crucial to be informed of current regulations -- by country -- to ensure there are no issues along the way when travelling globally.”  

If you would like to discuss this topic further, please reach out to your NEI Global Relocation representative at any time.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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Sharrell Kilgore, CRP, Joins NEI as VP, Global Client Development

14 October 2024 – NEI Global Relocation (NEI) is pleased to announce the appointment of Sharrell Kilgore as Vice President of Global Client Development for our Southern region.

In her role, Sharrell will confer with corporations on their relocation policies, processes and specific needs to demonstrate NEI’s ability to support their global mobility goals with innovative and cost-efficient solutions and advanced technology.

“All of us here at NEI are beyond excited to welcome Sharrell as VP, Global Client Development,” said NEI’s Pam Jacknick, CRP, GMS, Senior Vice President of Global Client Development. “She brings over 20 years’ experience, has incredibly strong communication, presentation, negotiation and leadership skills, and is gifted in establishing and maintaining interpersonal relationships.”

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Related Experience

Sharrell has a positive attitude that is unparalleled in our industry. Her energy and expertise are appreciated by all who know her.

Prior to joining NEI, she had more than two decades’ experience in all functions of new client development, strategic consulting and account management in Mortgage Lending, Real Estate and Relocation. Sharrell is an analytical thinker and creative problem solver who quickly adapts and thrives in new and challenging situations.

Sharrell resides in Texas and is actively involved in multiple regional WERC groups, including serving as President of the North Texas Relocation Professionals and, previously, the Houston Relocation Professionals Board of Directors.

She earned her Certified Relocation Professional (CRP) certification from WERC, has a Bachelor of Business Administration in Marketing from the University of Texas at Tyler and an Associate of Arts in Business Administration from Tyler Junior College.

Welcome to NEI, Sharrell!

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Omaha, NE October 2024 – NEI Global Relocation is proud to announce the winner of its prestigious 2024 Service Partner of the Year award, recognizing outstanding performance, unwavering support, and remarkable innovation in the field of global mobility services. This year’s recipient, Interconex, Inc. has set itself apart in numerous ways, making it a clear frontrunner among many deserving partners.

NEI has enjoyed a long-standing and valued partnership with this company, which has consistently provided top-notch services that benefit both NEI and its clients. Over the years, this partner has demonstrated a commitment to NEI’s success by delivering reliable support and solutions that exceed expectations. In 2024, they went above and beyond, distinguishing themselves as the first in their service category to introduce an incentive program specifically for NEI, further solidifying their dedication to our success.

One of their most impressive feats this year involved a monumental, data-driven task that required precision, dedication, and a deep understanding of NEI’s needs. Their efforts not only led to outstanding results but also enhanced NEI’s ability to remain cost-competitive and provide well-informed solutions to our clients. The partner’s extraordinary performance empowered NEI to make strategic decisions that have been invaluable in maintaining our market leadership.

Additionally, this year, the partner faced a complex RFP scenario where their initial pricing was not as competitive as other contenders. Rather than retreat, they embraced the challenge with a problem-solving mindset. By presenting an innovative solution with competitive pricing, they helped NEI win the RFP and secure new business—a testament to their ingenuity and collaborative spirit.

Their consistent Can-Do! attitude and solution-oriented approach embody NEI’s mission of Service Exceeding Expectations. Each interaction with this partner reflects a shared vision of excellence and dedication that makes them an essential ally in NEI’s continued growth and success.

“Our service partners play a pivotal role in the success of our operations,” said Andy Dyer, Director of Procurement and Global Service Partner Relations. “Interconex’s outstanding dedication to excellence, responsiveness, and their willingness to consistently go the extra mile make them a valued partner and a truly deserving recipient of the NEI Service Partner of the Year award.”

Interconex's exceptional performance aligns perfectly with NEI's core values, making them an outstanding choice for the 2024 Partner of the Year award. NEI congratulates Interconex on their well-deserved recognition!

Omaha, NE October 2024 — NEI Global Relocation, a leading full-service relocation management company, proudly recognizes the exceptional achievements of its Service Partners with the annual Service Exceeding Expectations Awards. These accolades are given to partners who have consistently demonstrated an unwavering commitment to exceeding expectations in service delivery.

The awards are conferred based on a meticulous evaluation of scorecard data gathered from the feedback of NEI account executives and transferees throughout the year. This comprehensive analysis ensures that the recipients are indeed setting the benchmark for exceptional service in their respective categories.

"Our Service Partners are an essential extension of NEI, consistently demonstrating their unwavering commitment to our mission of delivering Service Exceeding Expectations to our valued clients and their relocating families," affirmed Andrew Dyer, Director of Procurement and Global Service Partner Relations.

This year's winners, selected for their outstanding performance and dedication to excellence, include:

• Ward North American

• MiniMoves, Inc.

• Nelson Westerberg

• Rocket Mortgage

• Corporate Living

• Synergy Global Housing

• CWS Corporate Housing

• GlobeSpec

• IPR Consulting

• LARM USA, Inc.

• REA – Partners in Transition

• Aperian Global

• IOR Global Solutions

• @ Properties | Christie’s International Real Estate

Congratulations to each of these distinguished companies for exemplifying NEI’s mission of providing Service Exceeding Expectations. Their commitment to excellence sets a standard that inspires the entire industry.

Omaha, NE October 2024 — NEI Global Relocation, a global leader in full-service relocation management, is proud to announce the recipients of this year's Own It! awards. These awards celebrate the exceptional dedication and commitment of service partners who embody NEI's core philosophy of Own It!

The Own It! awards recognize partners who consistently go above and beyond to ensure client satisfaction and demonstrate a proactive approach to every opportunity. NEI's Own It! philosophy emphasizes offering value, instilling confidence, and taking responsibility to inspire a positive and productive relocation experience.

Andy Dyer, Director, Procurement and Global Partner Relations at NEI Global Relocation, expressed his enthusiasm for this year's recipients, stating, "We are excited to honor these outstanding relocation partners who truly embody NEI's 'Own It!' philosophy. Their dedication and commitment to excellence strengthen our partnerships and ensure we continue delivering exceptional service to our clients."

The 2024 Own It! Award recipients are:

Corporate Living

Corporate Living, led by Henry Gager and his team, has consistently embodied the Own It! principles throughout various relocations. When a prospect company required urgent intern housing across five U.S. cities, they swiftly stepped into action. In just one business day, Corporate Living delivered the necessary solutions, demonstrating speed, efficiency, and commitment. This quick response not only earned the client's trust but also secured a successful partnership. Corporate Living’s ability to consistently provide value, take ownership, and act with a positive 'OWN IT' attitude is what sets them apart in the industry.

AltoVita

AltoVita has set a new benchmark in global accommodations. Delivering solutions 53% below budget, they saved NEI clients $1 million while maintaining an exceptional 100% customer satisfaction score. Their expertise in advanced real-time analytics and operational excellence enabled seamless relocations across the USA, EMEA, and APAC, with standout performance in Japan, where they sourced accommodations 20% below budget. With an impressive booking conversion rate and zero cancellations, their unwavering commitment to quality is undeniable.

NYC Navigator

NYC Navigator’s actions exemplify the human impact of global relocation services. When a relocating employee from Brazil faced the possibility of terminating her U.S. assignment due to her husband’s difficulty finding suitable employment, this service partner took immediate action. Despite being work-authorized, the husband struggled to find a position, leaving the family under financial strain while caring for a child with a heart condition. The service partner stepped in, making cold calls to local restaurants, securing job interviews in Portuguese, and providing resources for English lessons. Their relentless effort resulted in the husband finding employment, allowing the family to stay in the U.S., and preventing a costly failed assignment for the client. For their initiative, persistence, and unwavering support, NEI proudly honors NYC Navigator with the 2024 OWN IT award.

Home Sweet Home

Home Sweet Home truly embodies the OWN IT values in every aspect of their work. Faced with a challenging pre-move downsizing and decluttering project, this partner took swift action, transporting donations directly to Volunteers of America after each session. The relocating spouse, though exhausted after a five-hour process, greatly appreciated the unwavering support. This outstanding dedication brought relief to the family and exemplifies the commitment NEI values in all its partners.

Bernstein Realty

Berstein Realty played a key role in clarifying the complexities surrounding the National Association of Realtors and Department of Justice ruling. Their ability to simplify the changes and explain the various implications for Realtors and Relocation Management Companies provided invaluable clarity to NEI's teams, who manage home sales and purchases for clients daily.

Rawson Realty

Rawson Realty played a pivotal role in a major group move from Chicago to Charlotte. A dedicated Rawson Realty rep stood out for her exceptional support, making herself available from the very beginning by participating in early discussions with the client and transferees. Her devotion extended beyond these initial stages as she continued to assist many transferring families, ensuring a smooth transition and helping them acclimate to their new surroundings. We are deeply grateful for her outstanding contributions, and willingness to OWN these moves.

Premia Relocation Mortgage

NEI sought assistance from Premia Relocation Mortgage for a client's group move, and they responded by swiftly developing tailored resources, including two websites featuring a unique client policy-specific MIDA calculator. Premia not only hosted on-site presentations but also provided training for other lender partners, all while adeptly adapting to evolving policies. This strong collaboration is further highlighted by the fact that 62.5% of MIDA-eligible relocating employees in the group move chose Premia as their lender.

Professional Organizing Relocation Consult GmbH

Professional Organizing Relocation Consult GmbH (ProForg) provided their exceptional support of four Malaysian international assignees relocating to the historic city of Wangen im Allgäu, Germany—a lesser-known expat destination with a challenging housing market. Through maximum effort and a dedicated team, this partner met every need by initiating an immediate housing search and organizing a special shuttle service. The property owner also played a crucial role, fostering a homey atmosphere and ensuring the well-being of the assignees. This seamless collaboration resulted in a transition that was not only smooth but truly exceptional.

Ace Worldwide Elite Relocation Services

NEI is grateful to Ace Worldwide Elite Relocation Services for their swift and effective response to a challenging transferee situation. On a Friday evening, a household goods delivery was scheduled for the following day, only for the transferee to discover that their new home was significantly smaller than expected. The experienced husband-and-wife service team quickly identified the issue: the cargo would not fit, and there was no storage included in the relocation package. Acting promptly, the team secured mini-storage, provided accurate cost estimates, and ensured all necessary approvals were in place, all while maintaining the original delivery schedule for a seamless transition.

Ward North American

A relocating employee's spouse faced a life-threatening allergy to common chemicals found in personal hygiene products while managing a cross-country move. Recognizing the urgency of the situation, a Ward North American Customer Service Representative took the lead, coordinating a meticulous plan focused on safety and precision. Over nine days, a carefully chosen van operator and their team successfully packed, loaded, and delivered 36,000 pounds of belongings without incident. Their "OWN IT!" approach—characterized by compassion, resourcefulness, and attentive listening—earned the family’s trust during this critical time.

CORT

CORT Destination Services supported a family relocating from Colombia to Green Bay, Wisconsin, in October. Upon learning that the family had no car seat for their baby, CORT not only purchased one but also delivered it to their hotel, ensuring safe transportation options. During their initial meeting, the team noticed the family was unprepared for the harsh Midwest winter, dressed only in flip-flops and t-shirts. Recognizing that the family was weeks away from their first paycheck, CORT rallied their network to gather donations of warm clothing and toys. For their life-changing, proactive support and unwavering commitment to the NEI OWN IT approach, we are proud to honor CORT Destination Services.

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