Lump Sum Global Mobility Policies
Lump sum policies have been around for a while in the global mobility world and are certainly not the most glamorous sounding option. On the face of it, it sounds like a simple process. The assignee is given a set amount of money by their employer, which is to be used to cover expenses involved in the relocation process.
The amount of money depends on a number of factors, including seniority level of the employee, household size of the relocating employee, and the destination/distance of the relocation. The employee is usually responsible for organising the relocation services required themselves. So far, so simple – but what are the benefits, and pitfalls of this type of policy?