As an alternative to a policy-driven approach, companies are utilizing lump sum relocation assistance programs for some, or all, of their relocating employees. While evaluating whether this type of program makes sense for any organization, it is important to consider all the attributable factors that may impact the organization and its employees.
Lump sum programs are designed to:
- Provide employees with a single payment at the start of the relocation to cover expenses
- Empower employees to use the funds to best suit their relocation needs and circumstances
- Allow unused funds to be kept by the employee