RELOCATION PACKAGE Meaning and
Definition
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A relocation package refers to a comprehensive set of benefits and assistance provided by an employer to an employee who is required to move to a new location for work purposes. It is intended to ease the financial and logistical burdens associated with the relocation process and to help the employee settle into their new living environment.
Typically, a relocation package includes a variety of components to support the employee during the transition. One key element is financial assistance, which may encompass reimbursement for moving expenses such as transportation costs, professional packing and unpacking services, temporary housing, and storage fees. Additionally, the package may include a relocation allowance or lump-sum payment to cover miscellaneous expenses incurred during the move, such as utility connection fees or real estate agent commissions.
In addition to the financial aspects, a relocation package often encompasses practical support. This can involve assistance in finding suitable housing, either through direct assistance or by connecting the employee with a real estate agent familiar with the new location. Other services may include organizing school visits for employees with children, providing information about local amenities and services, and facilitating introductions to social or professional networks.
The exact contents and extent of a relocation package can vary depending on the policies and generosity of the employer. It is typically negotiated as part of the employment contract or offered as a benefit to attract and retain top talent, especially for positions that require a significant geographical move.
Common Misspellings for RELOCATION PACKAGE
- eelocation package
- delocation package
- felocation package
- telocation package
- 5elocation package
- 4elocation package
- rwlocation package
- rslocation package
- rdlocation package
- rrlocation package
- r4location package
- r3location package
- rekocation package
- repocation package
- reoocation package
- relication package
- relkcation package
- rellcation package
- relpcation package
- rel0cation package
Etymology of RELOCATION PACKAGE
The word "relocation" is derived from the Latin word "relocātiō", which means "to move again" or "to change place". It consists of two Latin roots: "re-" meaning "again" or "back", and "locātiō" meaning "placement" or "location".
The word "package" originated from the Greek word "pakhēsis", meaning "a bundle". It was later adopted by the Latin language as "pāctus" meaning "agreement" or "contract". This Latin word eventually evolved into "pakkula" in Old Norse and "pakkage" in Old French, which later transformed into the modern English term "package".
When these two words are combined, "relocation package" refers to an agreement or bundle of offerings provided to an individual or employee who is being moved from one location to another.
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