Employers could save money by reviewing their global relocation service for staff on expatriate assignments.
Speaking at Employee Benefits Live, Craig Truter, reward programme manager at Centrica, said executives often take overseas postings with expectations of higher salary and perks, and there is a need to balance the demand for retention and recruitment of talent.
But he said savings could be made in providing a relocation service “where executives still feel like they are being cuddled all the way”.
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Organisations where global relocation is relatively rare cannot expect to make savings on the same scale as those which regularly relocate staff overseas. However by shopping around for products such as insurances, and questioning where money is spent, they can make reductions in the logistical cost of moving top talent.
Barry Potter of International Relocation Management, speaking in the same session, said removals, insurance and shipping may not be the “sexiest” aspect of global relocation strategies, but they are good places for employers to find potential savings.
In the current economic climate, a thorough audit of invoices against estimates and shopping around for services such as removals and insurance can pay dividends.
Robust administration, for example, can highlight incorrect billings or overcharging, which can save money for employers.