Case Study: Jane Sullivan, VP Marketing
Jane Sullivan was just offered a position with Hometown Advertising as the new VP of Marketing. She had many years of experience and her yearly salary was negotiated at $150,000.00 per year with performance bonuses. She also asked for a relocation package for moving.
Hometown Advertising had two options, a lump sum payment, or BostonCorporateRelocation.com!
Lump Sum Package:
Hometown Advertising considered a lump sum payment to Jane. They created a budget for housing at $4000.00 per month for rent and $5000.00 for moving costs.
With a typical upfront cost for an apartment in Boston including First, Last, Security and possibly a Broker commission the total cost of a reasonable package was $21,000.00 as a lump sum relocation package.
Jane was smart and used a real estate agent to help her find a new place, she found a great updated 1 Bed in Back Bay for $2,400.00 and only had to pay First, Security and half of the Broker commission.
She also decided to rent a truck and move herself with the help of her two sons for $400.00. Her total cost was $6,400.00. Jane then had an extra $14,600.00 in her pocket as “relocation costs”. A lot of money that the Hometown Advertising could use in other areas of its business.
If Hometown Advertising used BostonCorporateHousing.com the total cost would have been much different:
- First the Hiring Specialist at the company would have gone to their portal hometownads.bostoncorporaterelocation.com and input the package that they were willing to pay for - in this case they would have paid up to $4,000.00 for an apartment and moving costs up to $5,000.00.
- The professional Real Estate Agents at Boston Relocation would receive the info from the HR portal and contact the new hire about their move as a vendor of Hometown Advertising.
- Assuming that they found the same apartment in the previous slide Boston Relocation would have billed to Hometown Advertising directly for $6,000.00 for the apartment and coordinated the moving truck for Jane as well.