Offering cost control, tailored to your needs and budgets
Due to cost control or efficiency priorities some organisations look to run part of their US domestic relocations through lump sum programmes as an alternative to a managed relocation. The challenge can be ensuring no loss of value or positive experience.
At K2, we can offer varied customised solutions designed to provide the tools and support needed for you to retain visibility and tracking, whilst offering the information needed for your employees to self-manage their relocation.
Our offer can include disbursement of the lump sum, provision of tools to assist your relocating employee when using preferred suppliers, and tools to assist timeline and budget tracking to ensure controlled parameters, compliance and effective and timely use of their lump sum benefit.
From experience we also often find that further expert advice and guidance throughout the process is beneficial, depending on your needs and budget.
Lump sum app
Mitigating the risk of lump sums with technology
One of the greatest challenges to an employee managing a lump sum relocation is that they will not be aware of the cost of services and which suppliers are credible or not.
To combat this K2 has developed an application that employees can use to manage their moves from start to finish. In giving employees the information, costs and support to manage their own moves you mitigate the challenges they face.
The application has:
- Pre-loaded approved providers
- Live costs
- Budget tracker
- Expenses tracker
- In-app service requests
- K2 consultant as online support
- Dynamic menus that respond to employee choices
- Full range of all mobility services including but not limited to: moving, home sale, serviced accommodation, hotels etc.
The lump sum amount is loaded into the application and the employee can run their own cost scenarios based on which services they think they’ll need with variables in costs built in dependent on factors such as but not limited to:
- Family size
- Home and host locations
- Property sizes
- Home sale and closing costs
Any communication with providers is monitored in the background by a K2 consultant and should additional assistance be required a K2 consultant will be on hand to guide the employee.
You might be interested in
Event summary: Impacts of Brexit and Covid-19 (March update)
We have been running Brexit-Covid update webinars, to provide audiences with reliable industry information and the latest news. Read the latest update.
Not even 2020 can hold us back...
Helen Squibb, Advisory Services Manager at K2, shares the trials and tribulations and ultimate successes of onboarding two new clients in 2020.
Need help with anything here?