Relocation expenses are costs that are associated with the moving from one location to another, whether temporarily or permanently. This kind of move, however, indicates that the person is not merely traveling away from home but is settling in another location. More often than not, relocation is associated with one’s job. An individual may have to relocate due to finding a new job in another location. Alternatively, an individual may have to relocate due to a new assignment within the same company. When asked to relocate, the company may offer to pay for the expenses that the move will incur. Typically, relocation expenses also cover the employee’s family.
Relocation expenses cover different specific costs. If you are asked to relocate, it is important that you clarify with your employer as to what specific costs are covered.
For example, will the airfare be covered? Alternatively, if you are to drive to the new location or take a train, will the gas or train fare be covered for you and your family? Another relocation expense is the moving company. Naturally, you will want to take your things with you. You may have to hire a professional moving company to load, transport, and unload your belongings. Will the company cover these costs as well?
Another consideration - and quite critical, actually - is a place to stay. For some, this can be temporary lodging till a home can be found. For others, the home is part of the relocation package.
The bottom line is that you understand all the expenses that you will have to face when relocation and that you know exactly what the company will cover.