February 21, 2023
By:EmpoweringCPO Insights Team

Relocation Services

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The scope for typical Relocation Services includes multiple components like coordination of relocation benefits, household goods movement, mortgage services, home finding services, etc. This report on Relocation Services will be very useful for your team responsible for managing and contracting this service. It gives in-depth information about Relocation Services, industry outlook, its components, cost structure, full-service suppliers, and other useful information for managing this category. EmpoweringCPO is a leading provider of Procurement Management Services, we can help you to benchmark your current contract with the market.

Abstract:

  • Moving industry Relocation volume was 32,351,000 moves for the year 2018 in the USA.
  • The mobility services industry in the U.S. is heavily reliant on the domestic economic situation, with revenues rising and falling in line with the general direction of the economy.
  • Key demand determinants include corporate profits, the house price index, the national unemployment rate, and existing home sales.
  • Most RMCs prefer to work out customized deals with their clients as they offer personalized service supported by advanced technology solutions, with costs primarily based on the policy in place and the type of moves.
  • Lump-sum programs depend upon the mobility goals of the company, and the competitiveness of the firm in terms of benefits and support provided to the employees.
  • Pricing models that are followed in the industry include Bundle pricing (Flat fee), À la Carte pricing, and rate per man-hour.
  • Revenue sharing is common in the Relocation industry and is always based on closed file
  • Some key SLAs to track the efficiency of incumbent relocation programs include satisfaction survey results, an average value of the claim (House Hold Goods gross settlement), W-2 accuracy, Buyer Value Option fallout rate, and percentage of non-network agents used.
  • Technology will continue being a game-changer in the relocation services industry, as analytics, mobile apps, and a host of other innovations are poised to change the industry landscape by reducing cost and improving efficiency.
  • The development of analytical tools to measure Return on Investment (ROI) is also becoming critical as firms try to track benefits and returns for their relocation programs.
  • Depending on the type of service offered, Relocation service providers mostly follow the cost-plus or fixed-fee pricing model.
  • For companies that operate globally, Virtual reality is making the move from a novel idea to a more mature tool in the workforce mobility sector.
  • The top 13 US Full Service suppliers have their own areas of strength, they are ranked and are presented based on Breadth of Service, Size of Deals, and Quality of Service listed in this report.

Table of Content

ContentSlide No.
Scope of typical Relocation Services2
List of Services provided by Relocation Management Companies3
Moving Industry Statistics4
Cost Components & average relocation Cost5
Cost Model6-7
Virtual Reality Tools & Relocation Challenges8
Baker’s Dozen Customer Satisfaction Ratings for relocation services9
Service Providers10-11

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Compliance Management Tool

Compliance management is very critical as otherwise the procurement organization may run into a scenario where there is a huge gap between realized savings and reported savings. Many procurement functions estimate large savings numbers when contracts are signed. They also invest significant time and effort in negotiating contracts for necessary goods and services, only to have a third or more of their purchasing dollars flow outside those deals. Some of the obvious fall-outs of non-compliance and maverick purchases are:

  • Very high prices
  • Risk of losing out on volume discounts and rebates

As compared to the current contract that was finalized after the sourcing process, the tool helps in tracking:

  • Vendor Compliance
  • Price Compliance

The objective of this tool is to ensure that the orders are placed only with the vendors that were shortlisted after the sourcing process and at the same price that was agreed upon and negotiated during and after the strategic sourcing process.

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