Moving is the physical manifestation of a new opportunity and can be an exciting part of your career journey. Getting there can be a daunting task. One of the fastest growing methods for funding a relocation is the payment of a fixed dollar amount to cover all moving-related expenses. This approach offers several distinct advantages, making it an ideal choice for campus communities.
ADVANTAGES OF LUMP SUM MOVES-
- Cost Predictability and Budget Control
With a lump sum move, campus faculty and department staff know the exact cost limits of their move. This eliminates the uncertainties and potential financial stress associated with fluctuating moving expenses. Educational institutions can allocate specific budgets for relocations, ensuring cost control and predictability.
- Simplified Planning and Coordination
Having a lump sum amount for moving gives the faculty or staff member the control to design a move that fits their circumstances. Rather than wasting benefits they don’t need, lump sums give the person moving the power to design their relocation using services that make sense for them. Substituting packing services for an additional week in temporary housing might be helpful. Instead of spending resources on a house-hunting trip, the person relocating may hire a mover that offers a free storage period at their destination so they can spend a week or two finding just the right place rather than having to get that done in one weekend. By eliminating the need for approval or securing an exception to the relocation policy, lump sum programs can simplify the process and produce a better outcome.
- Time Efficiency
Time is a precious commodity during a relocation. Juggling schedules and travel plans is a part of heading to a new city. Lump sum moves are designed to be efficient. If there is a time-crunch for the move, a great optional spend might be to have the movers do all the packing of personal effects, kitchen items and home decor. If time allows, self-packing is an effective way to stretch relocation dollars.
- Reduced Stress and Hassle
Moving can be an incredibly stressful experience, particularly for those balancing academic commitments. Lump sum moves alleviate this stress by providing a comprehensive, all-in-one solution. There is no need for back-and-forth approvals and exceptions. Just being in control of the spend reduces the stress of finding out that something you need is outside of the relocation policy.
- Customizable Services
Each move is unique, and the lump sum approach allows for customizable services tailored to individual needs. Everything from shipment size to length of stay in temporary housing are all in the hands of the person who is impacted the most by moving. One person moving may need to spend more to break a lease that was just signed, while another might elect to spend part of the lump sum to ship a car and fly to their new destination.
- What’s The Risk
Relocation-related services are something we don’t purchase often and without the benefit of prior experience, it’s easy to make the wrong choice. Ultimately a bad moving outcome can lead to a failed onboarding; an adverse experience for both the employer and the candidate. There is a lot at stake and the downside risks are very real. So, what’s the right approach? The moving industry unfortunately has some bad actors, known as rogue movers, who use bait-and-switch pricing tactics and often do a lousy job by damaging the goods and delivering later than promised. Candidates can also overspend in some areas and end up out-of-pocket for some of the core relocation necessities.
- Guidance is Needed
Allowing candidates to design their own relocation is empowering and is a great way to cap moving-related expenses. Guiding candidates to good choices is the key to a successful outcome, especially for those core services. Connecting candidates with vetted companies that are already in your supply chain is a great place to start. At MiniMoves, we create landing pages for our clients to share with lump sum transferees. The page includes a ballpark quote tool to demystify the cost of moving and help get the budgeting process started. Once we complete a detailed pre-move survey, we issue a binding price quote so candidates can budget their moving expenses with confidence.
Conclusion
Lump sum moves offer multiple benefits for campus communities, streamlining the moving process and providing a cost-effective, low stress solution for faculty and department staff. By choosing MiniMoves, you can rest assured that your relocation will be handled with the utmost professionalism and care, allowing you to focus on getting to your start date on time, well-rested, and ready to make a difference in your new role.
For more information on how MiniMoves can assist with your next move, click here. Let us make your move seamless and efficient!
