Relocation logistics is “getting your employees to the right places at the right
time.” Cornerstone’s relocation consultants recognize and anticipate the myriad
of situations that could arise during the relocation process. Along with our experienced
support staff of employees, we provide our clients with comprehensive domestic relocation
strategies that deliver results.
Our Cornerstone relocation consultants provide a proactive approach to educate relocating
employees on the precise nature of their relocation benefits, including their allowances,
services provided, reimbursable expenditures, and the overall process. The relocation
consultant is responsible for thoroughly explaining benefits and then executing
those benefits according to the timeline established.
Cornerstone’s relocation consultant will coordinate all relocation programs and
U.S. domestic services, including the selection of appropriate partners, who are the specialized
service providers carefully selected to make the relocation process a success.
Program Consultation
Cornerstone works with its clients to benchmark existing policies and
strategize programs that best meet their global mobility goals in support of talent management and growth
strategies. We also provide you with information that helps ensure that your program is compliant. Our systems
and ongoing education on regulatory and tax compliance issues assist in monitoring program compliance. The services
provided by our in-house consulting services team include, but are not limited to:
- Policy development
- Cost/benefit analyses
- Policy harmonization resulting from mergers and acquisitions
- Communications programs
- Meeting facilitation and training for HR managers
- Group move planning and execution
- White papers on industry trends and hot topics
- Research on trends and best practices
- Industry-specific benchmark studies (e.g., insurance, financial services, pharmaceuticals, etc.)
Policy Counseling
The Cornerstone relocation consultant provides a proactive approach to educate the relocating employee
on the precise nature of their relocation benefits, including the services provided, reimbursable
expenditures and the process. The relocation consultant is responsible for thoroughly explaining
benefits and then executing those benefits according to the timeline established between the relocation
consultant and the employee. The relocation consultant is also responsible for direct engagement with all
pre-selected specialized services such as identifying and selecting temporary housing options, managing real
estate agents, and managing the shipment and storage of household effects. The entire relocation process is
carefully executed and managed by the relocation consultant.
Relocation Cost Estimates
Our relocation cost projection calculator greatly simplifies the cost projection process.
During implementation, we build custom relocation policy templates designed to be quickly generated
by our team of experts, providing you accurate cost projections within 24-48 hours. Estimates
can include departure/destination local and state taxes, federal and social security tax costs.
Our tax engine is maintained by a team of tax professionals and is regularly updated to reflect changes in tax laws.
Marketing Assistance
Through Cornerstone’s home marketing assistance services, our consultants are in constant contact
with your relocating employee and the listing agent to ensure the marketing strategy is being properly
implemented and to verify its efficacy. Each week, the consultant will have a scheduled call with
the agent to review showings from the prior week. In addition, the listing agent is required to complete
a Home Marketing Update Report each week to document activity. Based on the level of activity and feedback
from potential buyers, the strategy will be quickly adjusted to counter any criticism — every day counts
when marketing a home.
Homesale Services
Our homesale services include selection of two pre-screened real estate sales professionals. We order two
Brokers’ Market Analyses (BMAs), evaluate their findings, and then we develop, discuss and implement a comprehensive
marketing plan to help take the emotion out of the home selling process. The consultant proactively manages the
selected real estate agent to ensure the home is marketed to achieve the highest offer within the relocation timeframe.
Once an offer is received, the consultant assists with negotiations and counter-offers, manages the home closing,
and offers objective, fact-based advice throughout the sales process. Our goal is to obtain the highest possible price
in the shortest amount of time for your employee.
Buyer Value Option (BVO)
A BVO program offers less risk to organizations as well as tax advantages. In a BVO program, title is ultimately passed
from the employee to the relocation company and then to the third-party buyer.
In a BVO, the employee will market the home with Cornerstone’s assistance until an offer is received. Once a determination
is made that the offer is unconditionally bona fide, Cornerstone will extend an offer to the employee based on the same terms.
In every instance, Cornerstone will execute two contracts – purchasing the home from the employee and executing the listing
agreement with the broker and contract to sell the property to the third-party buyer.
Guaranteed Buyout (GBO)
A GBO allows your relocating employee to relocate as quickly as possible by alleviating a possible extended home marketing process.
It also provides the employee and your company with tax advantages.
In a GBO process, two independent appraisals are ordered to determine the market value of the home so a fair offer can be made to
the employee. If the two appraisals come back outside a spread of 5%, a third appraisal is ordered and the closest two are averaged
to arrive at an offer price.
Household Goods Move Management
Cornerstone works with a preferred network of van line carriers and shipping solutions for all of your global mobility needs. In addition, our flexibility allows us to work with the carriers selected or preferred by our clients. The relocation consultant will manage the shipment and storage of household goods and ensure that it is consistent with the company’s relocation policy. In addition, within our network of carriers, we monitor the carrier, collect invoices, complete an outside audit of the invoice and services, and assist with the resolution of all claims.
Home Finding Assistance
Home Finding
Cornerstone’s relocation consultant assesses the employee’s housing and
community needs including special family needs, commute distances, price ranges and
family lifestyle preferences and then coordinates with the local real estate community
to find the appropriate real estate agent(s) to assist them in locating housing. The
relocation consultant will assist in planning home finding trips and area tours, assist
with setting school appointments, and send the employee a pre-arrival area information package.
If there are school-age children involved, educational, recreational and medical needs of the
children often define the areas and communities of most interest. All of this information is
taken into consideration to ensure that your relocating employee has a productive home finding trip.
Rental Assistance
The relocation consultant will complete a thorough needs assessment and then identify
local and web-based resources to assist the relocating employee in locating rental housing in the new
location. Throughout North America we have resources that will provide customized, escorted research
and housing tours to help your employee find a new rental home or apartment. In addition, your employee
is counseled on rental practices in the destination area, security deposits and lease guidelines. We
remain in contact with your employee and their service providers throughout the entire process.
Temporary Living Assistance
Your relocation consultant will conduct a needs assessment to identify the relocating
employee’s needs and coordinate finding suitable temporary housing. We have both national
and local contracts with preferred corporate housing companies, furniture rental companies,
and extended-stay hotel chains in virtually every city to provide flexibility in choice and
cost. We will evaluate the most cost effective temporary housing for your relocating employee
based upon timeframe, location and special needs (e.g., pets, children, proximity to mass transit,
etc.), and make all subsequent arrangements. We offer assistance with both short- and long-term
leases. The cost of temporary living can be billed directly through us, or we can arrange for your
relocating employee to handle his/her own expenses.
In remote locations, we engage our Global
Supplier Solutions group who will research the market and uncover furnished housing or extended
stay hotel options.
Mortgage Assistance
Cornerstone’s network of preferred mortgage providers will pre-qualify relocating
employees before their home search trip begins. They are proactive in providing creative
financing options and will offer your employees a wide range of mortgage options to choose
from at competitive rates. As part of our mortgage assistance program, your relocation
consultant will monitor the authorization process and loan application and coordinate
the closing. Processing will be expedited to make sure your employees can settle into
their new locations as quickly as possible and reduce the cost of temporary living expenses.
Partner/Spouse Career Assistance
Career assistance services have been developed with dual-career couples in mind. These services are beneficial
in U.S. domestic relocations as well as international assignments, when feasible or permitted. A Cornerstone
master career consultant will discuss job objectives, goals, talents, and present situation and will assist
with locating satisfying employment in the new area.