Articles & Whitepapers

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.

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: June 17, 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 17, 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 15, 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 31, 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.

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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Omaha, NE October 2024 – NEI Global Relocation, a pioneer in full-service relocation management, is pleased to announce the recipients of the 2024 NEI Innovation Awards: Icon and AltoVita. This year’s award winners have demonstrated exceptional innovation in their respective fields, pushing boundaries and setting new industry standards.

Icon Relocation Ltd.,has made a game-changing leap in relocation technology. By leveraging the power of Artificial Intelligence, Icon offers a tailored, efficient home search experience, simplifying the relocation process for clients and assignees. Their advanced data warehouse consolidates millions of property records, geospatial analyses, and operational insights, providing unmatched personalization and operational efficiency. This long-standing NEI partner’s commitment to enhancing the user experience through cutting-edge technology has set a new industry standard.

AltoVita has made remarkable strides in relocation technology over the past year. AltoVita has introduced several groundbreaking advancements, including an escalation dashboard and eco-stats for improved incident management and environmental impact tracking. Their integration with International SOS and Breezeway ensures enhanced relocating employee safety, while their Group Moves functionality and personalized housing options simplify complex relocations. With the upcoming 2025 release featuring real-time forecasting and benchmarking, this partner is set to further revolutionize temporary housing management. Their innovative contributions have elevated security, efficiency, and client satisfaction.

“Icon Relocation and AltoVita have demonstrated an extraordinary commitment to innovation and excellence in their respective fields,” said Andy Dyer, Director, Procurement and Global Partner Relations at NEI Global Relocation. “Their groundbreaking solutions, from cutting-edge technology to enhanced client services, are not only transforming the relocation industry but also setting new standards for efficiency, security, and customer satisfaction. The forward-thinking initiatives they’ve introduced have the potential to revolutionize how we approach complex relocations, offering significant value to our clients and their transferring employees. We are excited to see how their continued efforts will shape the future of global mobility.”

The NEI Innovation Awards, an esteemed recognition in the field of relocation management, acknowledge the remarkable strides made by service partners in driving progress and offering unparalleled value to clients.

NEI Global Relocation extends its warmest congratulations to Icon and AltoVita for their outstanding contributions and well-deserved recognition as recipients of the 2024 NEI Innovation Awards.

Omaha, NE October 2024 — NEI Global Relocation, a distinguished full-service relocation management company, proudly announces the recipients of the 2024 Corporate Responsibility Awards. These accolades celebrate companies that have exhibited exemplary commitment to philanthropy, environmental sustainability, and community service, reflecting NEI's dedication to creating positive impacts in the communities where we live and work.

The Corporate Responsibility Awards highlight the extraordinary efforts of companies in three distinct categories: Philanthropic Activity, Environmental Sustainability, and Community Service. This year's esteemed winners are:

Rocket Mortgage

Rocket Mortgage has made its company mission to combat homelessness, prevent displacement, promote wealth through homeownership, and close the digital divide, particularly in Detroit, where veteran homelessness has decreased by 54% since 2018. In 2023 alone, the company enrolled over 150,000 residents in the Affordable Connectivity Program and recycled 172,194 pounds of e-waste. Their efforts have expanded to cities such as Cleveland, Milwaukee, and Atlanta, where they collaborate with diverse partners to address complex housing challenges.

Additionally, their relocation team contributed over 200 volunteer hours last year, supporting initiatives like packing food for the homeless, cleaning neighborhoods, and fundraising for national charities, including the Make-A-Wish Foundation. We are proud to recognize their unwavering dedication to making a positive, lasting impact on communities nationwide.

Budd Van Lines

NEI is thrilled to recognize Budd Van Line’s for their outstanding contributions to environmental sustainability, social equity, and community well-being.

Budd’s success with their Eco-Crate program demonstrates a strong commitment to reducing waste and protecting the planet. Additionally, through their involvement with Women in Trucking, they are advancing diversity and empowering women in the transportation industry. Likewise, their support for initiatives such as Wreaths Across America, Truckers Against Trafficking, the Police Unity Tour, and Move For Hunger set them apart as a model for corporate engagement in social and humanitarian efforts. NEI thanks this partner for their remarkable efforts, which align with our shared mission to create a more equitable and sustainable world.

Alexander’s Mobility Services

Alexander’s Mobility Services has demonstrated a long-standing commitment to community service. Fifteen years ago, they launched their annual Community Event Program as a small addition to their National Sales Meeting agenda, and it has since grown into a cherished tradition. This program not only fosters a sense of community within the company but also educates participants on local challenges faced by the communities hosting their meetings. Each year, employees enthusiastically engage in activities such as building bikes for children, crafting blankets for newborns in neonatal intensive care, cleaning beaches, and supporting charities like Make-A-Wish. We commend Alexander’s Mobility Services for their dedication to making a positive impact through their collective efforts and corporate responsibility initiatives.

ICON Relocation

ICON Relocation has consistently shown an innovative approach to corporate social responsibility. Through their people-centric strategy, they empower employees by involving them in voluntary environmental and wellbeing/engagement committees, ensuring CSR is woven into every facet of their business. This dedication has led to impressive certifications like EcoVadis Gold, ISO 14001, and achieving carbon-neutral status, reflecting their unwavering commitment to sustainability. Beyond their operations, ICON actively collaborates with partners on various sustainability initiatives and supports impactful local projects, such as the Sussex Kelp Recovery Project, beach cleanups, and litter pickups. Additionally, their focus on diversity, equity, and inclusion shines through initiatives like their progressive, staff-led International Women’s Day podcast. We applaud ICON Relocation for their outstanding efforts in driving positive change for NEI and the broader industry through their exemplary corporate responsibility initiatives.

“We are proud to acknowledge and celebrate the extraordinary contributions of our Service Partners who consistently exceed expectations in upholding NEI's commitment to corporate responsibility,” said Randy Wilson, President | CEO of NEI Global Relocation. “Their efforts inspire us to look beyond ourselves and strive for a better, more impactful future.”

Congratulations to the 2024 Corporate Responsibility Award recipients for their outstanding contributions to creating positive change. Their dedication serves as an inspiration for us all.

Each year, NEI Global Relocation honors service partners who demonstrate exceptional performance and integrity in their business. We take great pride in recognizing those who go above and beyond in delivering Service Exceeding Expectations to our clients and their relocating employees.

Below is a list of all our award winners, along with links to press releases for each category.

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Service Partner of the Year

Interconex Inc.

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Service Exceeding Expectations

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

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Own It! Awards Winners

NYC Navigator, LLC

Professional Organizing Relocation Consult

CORT Destination Services

Ace World Wide Elite Relocation Services

Ward North American

Home Sweet Home

Corporate Living

AltoVita

Premia Relocation Mortgage

Rawson Realty, LLC

Bernstein Realty, Inc.

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Corporate Responsibility

Budd Van Lines

Alexander’s Mobility Services

Rocket Mortgage

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Innovation

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AltoVita

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A dockworkers strike at U.S. East and Gulf Coast ports – from Maine to Texas – is expected to severely impact global supply chains and the economy. The strike's disruption could affect billions of dollars in cargo with immediate delays for vessels as well as future delays.

The work stoppage on 1 October 2024 followed a lengthy deadlock in labor talks between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), a shipping industry group representing terminal operators and ocean carriers.

Thirty-six East and Gulf coast ports shut down including but not limited to Baltimore; Boston; Charleston, South Carolina; Jacksonville, Florida; Miami; Houston; Mobile, Alabama; New Orleans; New York/New Jersey; Norfolk, Virginia; Philadelphia; Savannah, Georgia; Tampa, Florida; and Wilmington, Delaware.

Some experts warn of cascading effects throughout the global economy if the strike lasts. Danish shipping giant Maersk predicted that even a one-week shutdown could take up to six weeks to recover, compounding delays daily.

Regarding the event’s impact on relocation, international shipping and global supply chains are bracing for potential disruption this week and the weeks ahead, but as this situation evolves and we learn more, NEI and our service partners will keep clients advised of specific shipments affected, as well as provide an update on future shipments and how the situation impacts the supply chain.

If you have any questions about this situation, please contact your NEI Client Relations Manager at 800.533.7353 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. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

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Effective risk management is essential in the relocation process, to anticipate and address concerns before they can disrupt operations. From logistical interruptions and regulatory compliance to employee dissatisfaction, there are potential risks with each relocation. Preemptively managing them ensures business continuity and successful transitions for employees.

Risk Management and Corporate Relocation

Risk mitigation involves minimizing the impact of potential challenges by developing strategies to manage or eliminate issues before they arise. Identifying and mitigating risks in global mobility is not as clear-cut as it might seem. Even seasoned relocation professionals can find this daunting. However, by predicting and planning for risks, businesses gain a distinct advantage.

Christine Thomas of 360factors likens the business world to a racecourse, with risks as the potholes along the way. Applying this analogy to global mobility, we can view a company’s relocation program as the roadmap, and the risks as the obstacles that need to be navigated. At NEI, we don’t avoid the potholes—we actively anticipate and develop strategies to mitigate their impact. Our goal is to get our clients’ employees to their destinations smoothly and safely, without unexpected setbacks.

Steps to a Comprehensive Risk Assessment

Conducting a thorough risk assessment is critical and anticipating challenges related to logistics, compliance, and employee satisfaction is only the beginning. For example, NEI’s comprehensive risk assessment includes the following steps:

1. Identify Potential Risks Global mobility programs face unique risks, ranging from logistical and operational challenges to financial and immigration concerns. We carefully assess the risks and identify where they are most likely to occur.
2. Determine Who Might Be Affected Once risks are identified, we evaluate who may be impacted—whether it’s the relocating employees, our corporate clients, service partners or NEI. Understanding the scope of impact helps us prioritize risk mitigation efforts.
3. Analyze and Evaluate Risks After identifying the potential risks, we analyze their severity and probability. While it may not always be possible to remove risks completely, we implement control measures to minimize their occurrence and impact.
4. Record the Results and Implement Solutions Once risks are analyzed, we document the mitigation process. This involves detailing the risks, who they could affect, and the steps we will take to mitigate them.
5. Review and Update Regularly Global mobility is constantly evolving, so it’s essential that risk management plans evolve too. NEI conducts regular reviews to ensure our strategies are up-to-date and adaptable to changes in regulations, technology, and industry trends.

By following these steps, NEI ensures that risk management is proactive, not reactive. We strive to minimize disruptions to business operations, protect company assets, and safeguard the information of our clients and their transferees.

Preemptive Risk Management

At NEI, we approach risk management holistically. Our comprehensive risk mitigation plans cover the relocation process,  business continuity,  disaster recovery, and secure technology to ensure resilience. Key components of our risk management strategy include:

• Risk Management Plan: NEI conducts quarterly multi-departmental risk assessment meetings. During these sessions, we evaluate potential risks and implement tailored action plans with robust mitigation strategies.
• Insurance Coverage: NEI and our service partners carry insurance coverage to mitigate potential risks associated with relocation. This includes comprehensive domestic and global insurance solutions required for service partners working with NEI.
• Cybersecurity Measures: We utilize industry best practices to protect sensitive information. Our cybersecurity protocols include identity management, data protection, network defense, and vulnerability testing, ensuring that both our clients’ and transferees’ data remain secure throughout the relocation process.

Key Risks and Mitigation Strategies

While potential risks exist in corporate relocation, having a structured approach to managing them minimizes their impact. Here are some common risks faced by relocation management companies (RMCs) and how NEI addresses them:

• Logistical and Operational Interruptions: The complexity of coordinating multiple services, managing timelines, and ensuring the smooth transport of goods presents considerable logistical challenges. NEI believes in prevention over resolution. We establish clear processes, set expectations with all parties involved, monitor progress and continuously measure performance. In those rare instances that concerns or complaints arise, they are immediately escalated to our Senior Management team for prompt action.

• Legal and Regulatory Compliance: Compliance with local, national, and international laws is key in global relocation. NEI stays informed on relevant regulations by leveraging multiple resources, including industry groups, government directives, and advice from legal and tax experts. This information resides in a central depository to assist in preventing costly legal delays.

• Employee Impact: A failed relocation or an unsatisfied employee can have significant repercussions, from reduced production to loss of talent. Setting expectations, consistent communications and transparency are the most important elements of a successful relocation or assignment.  Our Employee Pre-Decision Program and Onboarding conversation empowers the relocating employee to discuss their concerns and needs, and the NEI consultant to level-set the employee’s expectations based on their approved services and destination location.  If special needs are unveiled, they can now be discussed with the corporate client at the beginning of the process. This improves recruitment, retention, and employee satisfaction.

Real-World Examples of Risk Mitigation

Risk management in corporate relocation is essential to real-world success. Here are a few examples of how preemptive risk management has helped companies overcome relocation challenges:

• NEI received many “rush” global moves from a client to a country that required a minimum of six (6) months to process visa and immigration applications.  To avoid future frustrations from delayed moves, NEI implemented a training program for talent managers, talent acquisition teams and hiring managers to understand global compliance concerns and move timelines.
• An employee arrived late, after midnight, and was not able to access their temporary living apartment.  After speaking with the NEI consultant, after midnight, a nearby hotel was secured with a late checkout and the employee quickly had a secure place to rest.

Recommendations for Clients and Service Partners

NEI works closely with clients and service partners to ensure that risk management is a collaborative effort.  As you build a Risk Management Program, consider the following:

• Prioritize Communication: Regular, transparent communication between all parties ensures that potential risks are identified early and mitigated quickly.
• Leverage Technology for Risk Monitoring: We use advanced technology to monitor risks in real-time, allowing us to react quickly when issues arise.
• Continuously Evaluate Risk Management Strategies: NEI regularly reviews and updates its risk management practices, adapting to new challenges and ensuring the highest level of service for our clients and their employees.

Conclusion

Managing risks in corporate relocation is about more than addressing problems as they arise. It’s about anticipating challenges, preparing for them, and preemptively implementing solutions. NEI’s approach to risk management is to identify potential risks early, manage them effectively, and continuously adapt our strategies to keep pace with industry changes. This ensures smoother transitions, protects assets and employees, and maintains operational efficiency.

If you’d like to learn more about how NEI can help your program thrive, please reach out to your NEI Client Relations Manager or a member of our Global Client Development Team.

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Top Performer 2-Years Running: Nationwide Relocating Employee Survey

For the second consecutive year, NEI Global Relocation has been recognized as the top-performing relocation management company as measured by average score in the Trippel Nationwide Relocating Employee Survey. This prestigious survey, which gathers feedback directly from relocating employees, reflects the real-world impact of our services, offering an objective measure of our performance across key areas of the relocation process.

This recent accolade follows four consecutive years of top rankings in the Trippel Relocation Manager’s Survey, further solidifying NEI Global Relocation’s position as an industry leader. Our consistent stellar performance highlights our commitment to quality and client satisfaction in every aspect of relocation services.

Below you will find a detailed summary of our overall ratings for the past four years, starting with where we rank in total #1 ratings according to the Trippel Relocation Manager’s Survey.

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Total #1 Ratings (2020-Present): Trippel Relocation Manager’s Survey

Most #1 ratings among all participants, considering both average score and net satisfaction:

1. NEI (48)
2. RMC with 2nd most (18)
3. RMC with 3rd most (14)
4. RMC with 4th most (8)
5. RMC with 5th most (6)
6. 2 RMCs with 6th most (5)
7. RMC with 7th most (3)
8. 3 RMCs with 8th most (2)
9. 2 RMCs with 9th most (1)
10. 16+ RMCs with no #1 rankings from 2020 – Present*

* Company either met the criteria for inclusion in the survey results, but earned no #1 ratings, or did not meet the necessary criteria for inclusion.

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Top Relocation Companies: Service Delivery

NEI Global Relocation has consistently set the standard for service delivery in the corporate relocation industry. Our top rankings in overall satisfaction, quality, and team personnel reflect our relentless pursuit of excellence and our commitment to providing unparalleled client experiences. We take pride in being a trusted partner, ensuring that every relocation process is seamless and exceeds client expectations.

RMC Overall Satisfaction

• #1 Average Score 2020, 2021, 2022
• #3 Average Score 2023
• #1 Net Satisfaction 2020, 2021, 2022
• #3 Net Satisfaction 2023

Our sustained high rankings in overall satisfaction demonstrate our dedication to providing exceptional service to our clients year after year.

RMC Quality

• #1 Average Score 2020, 2021
• #2 Average Score 2022
• #1 Net Satisfaction 2020, 2021, 2022

These rankings highlight our unwavering commitment to maintaining the highest quality standards and ensuring seamless service continuity.

RMC Best in Class / Performance (Net Satisfaction not calculated)

• #1 Average Score 2020, 2021, 2022
• #2 Average Score 2023

RMC Team Personnel

• #1 Average Score 2020, 2021
• #1 Net Satisfaction 2020
• #2 Average Score 2022 (T)
• #2 Net Satisfaction 2021

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Top Relocation Companies: Stability

Stability and security are paramount in the relocation process, and NEI Global Relocation excels in these areas. Our top scores in data security, integrity, and service recovery demonstrate our dedication to safeguarding client information and delivering reliable, consistent services. With NEI, clients can be confident in a stable partnership built on trust and integrity.

RMC Data Security

• #1 Average Score 2021, 2022
• #2 Average Score 2020
• #1 Net Satisfaction 2021, 2022
• #2 Net Satisfaction 2020

RMC Integrity

• #1 Average Score 2021, 2022
• #2 Average Score 2020, 2023
• #1 Net Satisfaction 2020, 2021, 2022, 2023 (T)

RMC Service Recovery

• #1 Average Score 2021, 2023
• #1 Net Satisfaction 2023 (T)
• #3 Average Score 2020
• #2 Net Satisfaction 2020, 2021 (T)

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Top Relocation Companies: Client Relationships

At NEI Global Relocation, we believe that strong client relationships are the cornerstone of successful relocations. Our top rankings in continuation of services, cultural partnership, and willingness to recommend highlight our focus on fostering lasting partnerships. We are committed to understanding our clients’ needs and ensuring their satisfaction at every step of the relocation journey.

Continuation of Services

• #1 Average Score 2020, 2022, 2023
• #1 Net Satisfaction 2020 (Net Satisfaction not calculated 2022, 2023)

RMC Cultural Partnership

• #1 Average Score 2023
• #1 Net Satisfaction 2021. 2023 (T)
• #2 Average Score 2020

Willingness to Recommend RMC

• #1 Average Score 2022, 2023 (Net Satisfaction not calculated 2022, 2023)
• #2 Average Score 2020
• #2 Net Satisfaction 2020

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Why the Trippel Relocation Managers’ Survey?

What sets the Trippel Survey apart is its extensive focus on impartiality and the breadth of its data collection. The insights from the Trippel Relocation Manager’s Survey are highly valued as they reflect industry insiders' experiences and offer an objective comparison of the sector’s top firms. This makes it a unique and trusted resource for companies looking to make informed decisions when selecting a relocation management provider.

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Conclusion

If your organization is grappling with inefficiencies in relocation processes, struggling to maintain high employee satisfaction during transitions, or finding it difficult to ensure data security and service continuity, it's time to consider partnering with a proven leader in the industry. At NEI Global Relocation, we not only understand these challenges but excel in turning them into strengths, as evidenced by our consistent top rankings in the Trippel surveys. Our expertise in delivering seamless, high-quality relocation services can help you streamline operations, reduce costs, and enhance the overall employee experience.

Contact us today to discover how we can elevate your relocation program!

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_{The data and rankings referenced in this article are derived from the 2020, 2021, 2022, and 2023 Trippel Relocation Managers Surveys as well as the 2023 and 2024 Trippel Nationwide Relocating Employee Surveys. These surveys provide comprehensive feedback from both relocation managers and employees across the industry, ensuring an accurate reflection of service performance and industry leadership.}

Singapore, Singapore September 5, 2024 - The Forum for Expatriate Management recently held its APAC Summit at Hotel Fort Canning to celebrate excellence in the Mobility industry, handing out their touted EMMAs (Expatriate Management and Mobility Awards). The evening’s gala dinner and award presentation recognized the standout achievements of industry leaders in the APAC region. Among the honorees, NEI Global Relocation and Alto Vita were recognized with the Best Partnership Award for their exceptional collaboration.

This is the second EMMA partnership award won by NEI Global Relocation and Alto Vita this year. The first FEM EMMA award was presented to NEI and AltoVita in Dallas in May 2024.

Randy Wilson, NEI President / CEO explains, “This accolade underscores the exceptional synergy and innovation that define the partnership between NEI Global Relocation and Alto Vita. The award highlights the strength of our collaboration within the Asia Pacific region to deliver superior relocation services.”

The partnership between NEI Global Relocation and Alto Vita has been pivotal in executing two major group move projects for prominent clients across APAC, specifically to Japan and India. Managing group moves is inherently complex, demanding meticulous planning, sophisticated execution strategies, and effective coordination with local service providers. Despite the challenges of relocating large groups to demanding locations, NEI Global Relocation’s commitment to excellence in international relocation, combined with Alto Vita’s expertise in corporate housing, has ensured clients receive high-quality accommodations while staying within budget.

Receiving the Best Partnership Award reflects NEI Global Relocation and Alto Vita’s shared dedication to overcoming challenges and exceeding industry expectations. These honors not only celebrate our successful collaboration but also reinforce NEI’s ongoing commitment to delivering exceptional customer satisfaction.

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2024 International All-Benefits Survey Key Takeaways

NEI Global Relocation (NEI) recently completed our 2024 International All Benefits Survey that covered all components of a typical International relocation program, including policy overview, pre-assignment, relocation, on-assignment, allowances & finances, end of assignment, and tax & compensation areas.

For the survey, 47 international policy components were included, focusing on short- and long-term assignments and permanent transfers with highlights covering several other program types. Of 108  participating companies, the top industries included Technology, Manufacturing, Life Sciences, Consumer Goods & Services, Food & Beverage, and Energy & Utilities.

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Key Takeaways

NEI’s full report contains recent trends in types of international policies and the prevalence of benefits offered. Key takeaways include:

1) Overall Program Overview:

• Intra-country and Intra-Region Americas & LATAM Policies: While our 2024 survey indicates companies are increasing their intra-country and intra-region Americas & LATAM policies, the front-runners for the most common assignment program types by surveyed companies remain clear: 90 percent of companies had a permanent transfer policy; 81 percent a long-term assignment policy; and 73 percent a short-term assignment policy.
• Repayment Agreement Terms: 2024’s survey saw a decrease in the number of companies requiring repayment agreements for permanent moves (88 percent) compared to 2022 (94 percent), while agreement requirements for short-term (59 percent) and long-term assignments (75 percent) remained consistent with 2022.  NEI saw a significant uptick in companies that prorate some or all repayment funds (80 percent, up from 62 percent in 2022) and those using a 24-month required repayment agreement term (83 percent, up from 61 percent in 2022).
• Lump Sum-Only Policies: These are rarely used for international moves by surveyed companies: only 11 percent of companies offered such for permanent moves and less than one percent offered for short- and long-term assignments. This is not surprising as an international relocation, whether temporary assignment or permanent move, can be much more challenging for employees. Providing a lump sum to cover all relocation expenses may seem to offer flexibility, but employee planning and stress can be overwhelming without support from a seasoned professional or Relocation Management Company.

2) Support for Families:

• Pet Transport: Most pet owners consider their pets as part of the family and would be hesitant to move without them, thus it is not surprising to see an increase in 2024 surveyed companies offering pet transport for long-term assignments (39 percent compared to 30 percent in 2022) and permanent transfers (34 percent to 23 percent in 2022). Companies focusing on cost reduction offer a capped pet transportation benefit to keep costs down but provide families peace of mind.
• Spouse / Family Assistance: This year’s survey also reports, over the past few years, a noticeable shift from career assistance to family acclimation services for international assignments. By expanding the benefit, it helps address the whole family’s needs. Long-term assignments offering Spouse / Family Assistance rose from 61 percent in 2022 to 74 percent in 2024 and offering it to permanent transfers rose from 51 percent in 2022 to 55 percent.
• Host Country Transportation: A common benefit that continues in both short-term and long-term assignment policies, assistance provided varies with almost half of surveyed companies offering assistance based on the location or local practice.
• Host Country Housing: Most assignees live in a rented apartment or flat throughout their assignment. Of 2024 surveyed companies, 99 percent of short-term policies and 93 percent of long-term policies provided host country housing eligibility and, for permanent moves, only 20 percent of 2024 respondents provided it (not to be confused with interim temporary living). For all companies, 85 percent have housing paid by the company or their RMC on behalf of employees on short-term assignment and 62 percent on long-term assignment.
• Global Health Insurance Plans: NEI saw a significant shift of companies this year providing a global plan approach for short-term (56 percent) and long-term (65 percent) assignees, a change from our 2022 survey when 71 percent of companies used a home-based approach for short-term assignees and 57 percent for long-term.

3) Cost Impact of Policy Changes:

• Furniture Allowance in Lieu of Shipment: As costs of household good shipments continue to rise, NEI’s seen an increase in companies offering a furniture allowance in lieu of a household good shipment. For short-term assignments, 54 percent of surveyed companies offered one compared to 38 percent in 2022. For permanent assignments, 48 percent offered one in 2024 compared to only 37 percent in 2022. Though some companies may adopt a furniture allowance to support sustainability initiatives, analysis completed by NEI determined that the sustainability variance is minimal and, in some cases negative, due to emissions from manufacturing, shipment of furniture from the plant, and disposal of furniture at assignment end.
• Storage Benefits Decrease: NEI’s seen the storage benefit decrease for all policy types in the last year, most likely due to companies’ cost containment measures. Offering 15-to-30 days of storage is most common for both long-term assignments and permanent transfers.
• Relocation Allowance Usage Increase: This year, NEI’s noted an increase in companies offering the allowance across all policy types. Companies are also shifting more towards offering a flat amount per assignee vs. percentage of employee salary. For allowance eligibility, short-term assignments rose from 45 percent (2022) to 68 percent (2024); long-term assignments increased from 74 percent to 87 percent; and permanent moves rose from 76 percent in 2022 to 87 percent.
• Tax Gross-up Vary by Benefit & Assignment Type: Year-over-year, NEI saw an increase in companies including state insurance, social security, social and local, and city income taxes in the hypo tax. Historically, most companies provide both tax consultation to set upfront expectations and tax prep assistance throughout the assignment. This is consistent with 2024’s survey.

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Driving Unique Solutions for Each Client

We recommend all companies determine which unique solutions will work best for their company and NEI is ready to discuss all relocation-related possibilities with you.

NEI’s Global Mobility Strategies Team would be pleased to assist you in determining if a benefit is the right fit for your program. We believe reviewing program intent and benchmarking against industry peers and best practice can help you build a strong talent acquisition / retention strategy.

Thank you to all companies who participated!  

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About NEI Global Relocation

With headquarters in the U.S. and regional offices in Switzerland and Singapore, NEI is a certified Women's Business Enterprise dedicated to providing full-service global relocation and assignment management solutions. Supporting well over 200 clients, including numerous Fortune 500 and Fortune 1000 companies, NEI is committed to meeting diverse supplier goals and addressing the unique challenges of global talent mobility. For more information on NEI's services and to explore NEI All-Access, visit www.neirelo.com

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