The era of globalization had many employees working from countries outside their home country as part of the company requirement. This trend is sure to be carried on in the New Year 2010. There has long since been an increase in the frequency of employees now relocating for job purposes. However, both the employee and the employer are exposed to a greater risk while relocating to remote locations. The employees are prone to many health, safety and security threats in far away unfamiliar places. In such circumstances, the employers have a legal and fiduciary duty for their employees. If unfulfilled, the company is at risk and is liable for breaching the employment laws of the country where they and the relocated employee operate.
To avoid such situations the company must adopt a relocation policy by carefully analyzing its tax exile. The relocation policy will vary based on the type of international assignment, the risk levels of the country, work responsibility of the relocating employee and the family accompanying the employee on relocation. For the employer, taking the strongest prevention measure indicates less expenditure on the health, safety and security of the relocated employee. It is also a part of the relocation policy for the employers to educate their relocating employees about the risks and methods to monitor the new environment in view of possible hazards. The employer must also update the employee on incidents that will turn out to be critical.
Buying a short sales home may not be the best option for the relocating employee. It is important to understand that the process of getting the best deal on the new home involves many migration issues that impact the relocated employee. As per the relocation policy, it is the responsibility of the employer to take care of all the migration issues of the employee.
In today’s changing economic environment, many companies are re examining their relocation policies. One change that has come into effect in the current era is in the repayment agreement with the employee. Many companies found that the relocated employees left them on taking the relocation repayment. Hence to retain the employees, the companies have today extended the repayment duration. They have also incorporated these changed rules as a part of their relocation policy.
Companies have also included the process of evaluating the impact of relocation on their employees in their relocation policy. This evaluation process is considered to be critical in determining the success of relocation for an employee’s overall growth!
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T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
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Global Employee Relocation: http://www.employeerelocation.blogspot.com
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