GITNUX REPORT 2024

Average Relocation Package Trends: Costs, Benefits, and Statistics Revealed

Discover the ins and outs of the average relocation package in the corporate world today.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The average cost of a relocation package is $21,033.

Statistic 2

The average value of a lump sum relocation package is $15,000 to $20,000.

Statistic 3

The average relocation bonus is $10,336.

Statistic 4

The average cost of shipping a car as part of a relocation package is $1,000 to $3,000.

Statistic 5

The average cost of temporary housing provided in a relocation package is $2,000 to $5,000 per month.

Statistic 6

The average cost of temporary storage for household goods in a relocation package is $100 to $300 per month.

Statistic 7

The average cost of temporary accommodation for the employee while house-hunting is $150 to $300 per night.

Statistic 8

The average cost of temporary rental housing provided in a relocation package is $3,000 to $7,000 per month.

Statistic 9

The average cost of professional packing and unpacking services in a relocation package is $1,000 to $5,000.

Statistic 10

The average cost of furniture rental provided in a relocation package is $500 to $1,500 per month.

Statistic 11

The average cost of temporary accommodation for the employee's family during the relocation process is $200 to $400 per night.

Statistic 12

The average cost of visa and work permit assistance provided in a relocation package is $500 to $2,000.

Statistic 13

The average cost of setting up utilities and services in the new location provided in a relocation package is $300 to $800.

Statistic 14

The average time limit for using relocation benefits is one year from the date of employment.

Statistic 15

The average duration of temporary housing provided in a relocation package is 60 days.

Statistic 16

The average length of time employees stay with a company after receiving a relocation package is 4 years.

Statistic 17

The average duration of storage for household goods in a relocation package is 3 months.

Statistic 18

The average duration of language training provided in a relocation package is 3 months.

Statistic 19

The average duration of job search assistance provided in a relocation package is 6 months.

Statistic 20

The average duration of family counseling provided in a relocation package is 6 months.

Statistic 21

The average duration of child education support provided in a relocation package is 1 year.

Statistic 22

56% of employees say relocation assistance is the most valuable form of pre-employment support.

Statistic 23

23% of employees say a lack of relocation assistance would deter them from accepting a job offer.

Statistic 24

47% of employees negotiate the terms of their relocation package.

Statistic 25

42% of companies offer a lump sum relocation package.

Statistic 26

64% of companies offer temporary housing as part of their relocation package.

Statistic 27

19% of companies provide home sale assistance in their relocation packages.

Statistic 28

31% of companies offer spousal or family relocation assistance.

Statistic 29

82% of companies that offer relocation packages cover moving expenses.

Statistic 30

48% of companies offer tax gross-up assistance as part of their relocation packages.

Statistic 31

37% of companies offer to cover or reimburse closing costs for employees' old and new homes.

Statistic 32

63% of companies offer language training as part of their relocation packages.

Statistic 33

28% of companies offer career assistance for the employee's partner as part of their relocation packages.

Statistic 34

40% of companies provide cultural training and support in their relocation packages.

Statistic 35

The average relocation package covers 77% of moving expenses.

Statistic 36

33% of companies offer equipment moving assistance as part of their relocation packages.

Statistic 37

54% of companies provide assistance in finding a new home in the new location.

Statistic 38

27% of companies offer relocation assistance for pets as part of their packages.

Statistic 39

58% of companies provide assistance with visa and work permit applications in their relocation packages.

Statistic 40

The average relocation package covers 81% of travel expenses for the employee and their family.

Statistic 41

45% of companies offer cultural integration support for employees moving abroad.

Statistic 42

30% of companies provide financial planning assistance as part of their relocation packages.

Statistic 43

50% of companies offer job search assistance for the employee's partner as part of their relocation packages.

Statistic 44

36% of companies offer language classes for the employee and their family as part of their relocation packages.

Statistic 45

61% of companies offer assistance with school placement for the employee's children as part of their relocation packages.

Statistic 46

25% of companies offer language training for the employee's children as part of their relocation packages.

Statistic 47

53% of companies offer assistance with setting up utilities and services in the new location as part of their relocation packages.

Statistic 48

22% of companies provide career coaching as part of their relocation packages.

Statistic 49

49% of companies offer counseling services for employees and their families as part of their relocation packages.

Statistic 50

34% of companies offer tax equalization assistance in their relocation packages.

Statistic 51

60% of companies provide insurance coverage for health and personal belongings during the relocation process.

Statistic 52

39% of companies offer rental assistance for the employee's old and new homes as part of their relocation packages.

Statistic 53

52% of companies provide transportation assistance for commuting to work in the new location as part of their relocation packages.

Statistic 54

38% of companies offer financial planning workshops as part of their relocation packages.

Statistic 55

55% of companies offer emergency assistance services for unexpected situations during relocation.

Statistic 56

46% of companies provide transportation assistance for exploring the new city as part of their relocation packages.

Statistic 57

57% of companies offer mental health support services for employees and their families during relocation.

Statistic 58

41% of companies offer cultural orientation programs as part of their relocation packages.

Statistic 59

64% of companies provide intercultural training for employees and their families as part of their relocation packages.

Statistic 60

The average relocation package includes 3 trips for the employee and their family to visit potential new locations.

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Summary

  • The average cost of a relocation package is $21,033.
  • 42% of companies offer a lump sum relocation package.
  • The average value of a lump sum relocation package is $15,000 to $20,000.
  • 64% of companies offer temporary housing as part of their relocation package.
  • 19% of companies provide home sale assistance in their relocation packages.
  • The average time limit for using relocation benefits is one year from the date of employment.
  • 31% of companies offer spousal or family relocation assistance.
  • 56% of employees say relocation assistance is the most valuable form of pre-employment support.
  • 82% of companies that offer relocation packages cover moving expenses.
  • 23% of employees say a lack of relocation assistance would deter them from accepting a job offer.
  • 48% of companies offer tax gross-up assistance as part of their relocation packages.
  • 37% of companies offer to cover or reimburse closing costs for employees' old and new homes.
  • The average relocation bonus is $10,336.
  • 63% of companies offer language training as part of their relocation packages.
  • 28% of companies offer career assistance for the employee's partner as part of their relocation packages.

Move over, average expectations, because the world of relocation packages is anything but mundane! With stats like a $21,033 average cost, 42% of companies going the lump sum route (valued at $15,000 to $20,000), and 64% offering temporary housing, its clear that the modern workforce is on the move – literally. From spousal assistance to tax gross-up perks, companies are getting creative with 82% covering moving expenses and 23% of employees admitting relocation assistance could make or break a job offer. So, grab your suitcases and lets dive into the fascinating world of corporate moving magic!

Average Cost

  • The average cost of a relocation package is $21,033.
  • The average value of a lump sum relocation package is $15,000 to $20,000.
  • The average relocation bonus is $10,336.
  • The average cost of shipping a car as part of a relocation package is $1,000 to $3,000.
  • The average cost of temporary housing provided in a relocation package is $2,000 to $5,000 per month.
  • The average cost of temporary storage for household goods in a relocation package is $100 to $300 per month.
  • The average cost of temporary accommodation for the employee while house-hunting is $150 to $300 per night.
  • The average cost of temporary rental housing provided in a relocation package is $3,000 to $7,000 per month.
  • The average cost of professional packing and unpacking services in a relocation package is $1,000 to $5,000.
  • The average cost of furniture rental provided in a relocation package is $500 to $1,500 per month.
  • The average cost of temporary accommodation for the employee's family during the relocation process is $200 to $400 per night.
  • The average cost of visa and work permit assistance provided in a relocation package is $500 to $2,000.
  • The average cost of setting up utilities and services in the new location provided in a relocation package is $300 to $800.

Interpretation

In the wild world of relocation packages, it seems the only thing more daunting than moving itself is deciphering the costs associated with it. From car shipping to house-hunting digs, the numbers paint a picture of both privilege and pressure. With sums ranging from the average value of a lump sum relocation package to the nightly rates for temporary accommodations, it’s clear that in this financial tango, every step comes with a price tag. So, if you're considering a major move, buckle up and prepare to see just how many zeros are involved in starting fresh. After all, it’s not just your belongings that are getting a change in scenery—it’s your bank account too.

Average Duration

  • The average time limit for using relocation benefits is one year from the date of employment.
  • The average duration of temporary housing provided in a relocation package is 60 days.
  • The average length of time employees stay with a company after receiving a relocation package is 4 years.
  • The average duration of storage for household goods in a relocation package is 3 months.
  • The average duration of language training provided in a relocation package is 3 months.
  • The average duration of job search assistance provided in a relocation package is 6 months.
  • The average duration of family counseling provided in a relocation package is 6 months.
  • The average duration of child education support provided in a relocation package is 1 year.

Interpretation

In the world of relocation packages, it seems the golden rule is: time is of the essence. With a year to utilize benefits, 60 days in temporary housing, and averages like 4 years of company loyalty post-relocation, 3 months for household goods storage, language training, and family counseling, and even a generous 1 year for child education support, it's clear that timing truly is everything. So, if you find yourself relocating for a job, remember, in this fast-paced world of job search assistance, make the most of every minute given to you.

Employee Perception

  • 56% of employees say relocation assistance is the most valuable form of pre-employment support.
  • 23% of employees say a lack of relocation assistance would deter them from accepting a job offer.
  • 47% of employees negotiate the terms of their relocation package.

Interpretation

These statistics paint a clear picture of the modern employment landscape where, evidently, the key to an employee's heart (and willingness to move cities or countries) lies in the allure of a well-crafted relocation package. It seems that in the high stakes game of job offers, a lack of relocation assistance is akin to offering someone a sandwich without the bread – it's just not quite fulfilling. And with almost half of employees boldly stepping up to the negotiation table for their relocation package, it's safe to say that the days of a one-size-fits-all approach are long gone. It's a dance of give and take, where a fair relocation package may just be the "move" that seals the deal.

Percentage of Company Offering

  • 42% of companies offer a lump sum relocation package.
  • 64% of companies offer temporary housing as part of their relocation package.
  • 19% of companies provide home sale assistance in their relocation packages.
  • 31% of companies offer spousal or family relocation assistance.
  • 82% of companies that offer relocation packages cover moving expenses.
  • 48% of companies offer tax gross-up assistance as part of their relocation packages.
  • 37% of companies offer to cover or reimburse closing costs for employees' old and new homes.
  • 63% of companies offer language training as part of their relocation packages.
  • 28% of companies offer career assistance for the employee's partner as part of their relocation packages.
  • 40% of companies provide cultural training and support in their relocation packages.
  • The average relocation package covers 77% of moving expenses.
  • 33% of companies offer equipment moving assistance as part of their relocation packages.
  • 54% of companies provide assistance in finding a new home in the new location.
  • 27% of companies offer relocation assistance for pets as part of their packages.
  • 58% of companies provide assistance with visa and work permit applications in their relocation packages.
  • The average relocation package covers 81% of travel expenses for the employee and their family.
  • 45% of companies offer cultural integration support for employees moving abroad.
  • 30% of companies provide financial planning assistance as part of their relocation packages.
  • 50% of companies offer job search assistance for the employee's partner as part of their relocation packages.
  • 36% of companies offer language classes for the employee and their family as part of their relocation packages.
  • 61% of companies offer assistance with school placement for the employee's children as part of their relocation packages.
  • 25% of companies offer language training for the employee's children as part of their relocation packages.
  • 53% of companies offer assistance with setting up utilities and services in the new location as part of their relocation packages.
  • 22% of companies provide career coaching as part of their relocation packages.
  • 49% of companies offer counseling services for employees and their families as part of their relocation packages.
  • 34% of companies offer tax equalization assistance in their relocation packages.
  • 60% of companies provide insurance coverage for health and personal belongings during the relocation process.
  • 39% of companies offer rental assistance for the employee's old and new homes as part of their relocation packages.
  • 52% of companies provide transportation assistance for commuting to work in the new location as part of their relocation packages.
  • 38% of companies offer financial planning workshops as part of their relocation packages.
  • 55% of companies offer emergency assistance services for unexpected situations during relocation.
  • 46% of companies provide transportation assistance for exploring the new city as part of their relocation packages.
  • 57% of companies offer mental health support services for employees and their families during relocation.
  • 41% of companies offer cultural orientation programs as part of their relocation packages.
  • 64% of companies provide intercultural training for employees and their families as part of their relocation packages.

Interpretation

In a world where relocating for work is no longer just about packing boxes and switching zip codes, the data paints a picture of the modern-day relocation package as a comprehensive safety net for employees venturing into new horizons. From temporary housing to language training, spousal support to cultural immersion, companies are pulling out all the stops to ensure a smooth transition for their valued talent. It seems that in the relocation game of chess, employers are stepping up their game to not just move pieces, but to truly take care of the players and their families, offering a blend of practical assistance and emotional support to make the journey less daunting. After all, in the intricate dance of relocation, it appears that companies are not only willing to foot the bill but also to provide a holistic embrace to help their employees feel right at home, wherever that may be.

Type of Assistance Provided

  • The average relocation package includes 3 trips for the employee and their family to visit potential new locations.

Interpretation

The statistics reveal that in today's competitive job market, companies are not just offering a change of scenery, but a full-fledged travel itinerary to entice top talent. It seems the days of simply handing over a cardboard box and a map to the nearest thrift store are long gone. Employers are now sweetening the deal with not just one, not two, but three all-expenses-paid trips for employees and their families to scope out potential new digs. It's a relocation package fit for a reality TV show, proving that in the battle for talent, some companies are willing to go the extra mile (or three) to make employees feel like first-class nomads on the hunt for their next adventure.

References