Relocation within Borders
Paragon provides a full suite of relocation within borders services, from pre-decision consulting to cost estimation, from homesale services to property management and from spouse/partner assistance to the transportation of household goods. Paragon Relocation works with clients large and small, some with many locations and others with only a few, providing fully outsourced relocation programs or individual services depending on need. With Paragon’s broad capabilities, we provide the services and support our clients need when and where they need them, including on-site. The following is a list of standard relocation within borders services offered by Paragon. To contact a sales representative to learn more, click here.
Paragon’s pre-decision consulting service examines the details of each employee’s situation in light of the company’s policy benefits, the logistics of the move and the characteristics of the destination location. This critical due diligence can decrease the need for exceptions to policy later, lowering overall cost. The work is done in advance of implementation and can be used to make changes in the benefits offered or to whom benefits are offered, to ensure the relocation program falls within budget. Interviewing employees is optional but recommended. Common components of the service include: 1) identifying basic facts about the current home, including the likely selling price and any family or timing issues that may affect selling the property; 2) establishing the likely purchase price of the new home; 3) estimating the total cost for the move; 4) identifying family transition and spousal support needs; and 5) completing a cost of living comparison.
Benefits Counseling & Administration
Paragon’s Relocation Consultants contact each employee to explain their benefits, what services we provide, the employee’s role and responsibilities, the steps in the process and how to utilize Paragon’s online and mobile accessible relocation portal (PRISM). Thereafter the consultant acts as the employee’s single point of contact, developing rapport the more time they spend together. Ongoing communication takes place according to the employee’s preference. The employee’s spouse/partner, if applicable, is encouraged to participate in all meetings or discussions. All consultants are available via phone, email, video chat, PRISM and text; plus, they can be reached in the evenings and on weekends. Paragon’s benefits counseling is effective in guiding employees and answering their questions from start to finish. The same Consultants have ownership and accountability for service delivery and the management of suppliers. There are no layers or interfaces through other Paragon teams or departments.
Once the decision to accept a move has been finalized, Paragon’s Consulting Team can calculate the total cost to relocate an employee. In this approach, a Relocation Consultant interviews the employee to improve the accuracy of the estimate. Critical information is collected during the interview, including home size, original price paid, number of family members, etc., all of which is factored into the final estimate. This work is done one person at a time and estimates are updated periodically based on the actual expenses incurred. In addition, all relocation costs, allowances and compensation are included in the analysis. The estimates support reporting budget variances and accruing actual expenses for tighter management control.
Expense Audit, Processing, Payment & Reporting
Employees want their relocation reimbursements and we consistently get them out accurately and quickly. All Paragon expense audit, processing, payment and reporting takes place inside of a single system with real-time updates. From service authorization to payroll interface, each transaction flows through well-defined and controlled processes and is coded for financial reporting. In addition, employees have continuous access to all data and can request or run their own reports at any time, via a dedicated web portal. Industry leading technology has always been the foundation for superior service. The net result is accuracy, transparency and consistency, making Paragon Relocation a trusted partner for expense management. Our services include: 1) logging payment requests upon receipt, 2) data entry, 3) tracking, 4) auditing against policy, 5) calculating accruals of actual expenses and 6) providing reconciliations against budgeted amounts. In addition, Paragon’s robust reporting package offers many options.
Home Marketing Assistance in the United States and Canada
The objective of Home Marketing Assistance is to price and show the home in the most favorable light, to achieve the highest possible sales price within the shortest amount of time. This avoids more costly inventory buy-out scenarios, expedites the move and reduces temporary living/travel costs and tax gross-up, all at the same time. Paragon’s Relocation Consultant truly becomes the employee’s advocate and guides them through the process. It begins with an in-depth needs and situation assessment. Important steps that the consultant counsels or assists the employee with are: 1) choosing a Realtor, 2) setting the list price, 3) marketing the home, 4) pre-qualifying potential buyers, 5) negotiating the final sale terms and 6) closing the sale.
Homesale Services in the United States and Canada
Homesale programs provide peace of mind to transferring employees, freeing them up to focus on finding their new home. At the same time a good program will insulate companies from tax gross-up costs and other risks. Paragon’s standard homesale programs include: 1) appraised value, 2) amended value, 3) buyer value and 4) direct reimbursement. All Paragon homesale programs includes a single point of coordination throughout the entire process, where the Relocation Consultant provides Home Marketing Assistance and manages all negotiations as well as the closing process. Paragon ensures all homesale programs adhere to the Worldwide ERC®’s 11 step Amended Value Process. In addition, Paragon can customize homesale policies to achieve employee and corporate goals.
Property Management Services in the United States and Canada
Whether employees just want their home looked after and maintained, or full-service property management, Paragon can accommodate every possible situation. Even when employees encounter difficulty selling their home quickly, Paragon can meet their needs. All expenses are tracked and reported by Paragon. Standard services include: 1) rental assistance to find, screen and secure a tenant, 2) lease negotiation, 3) rent collection, 4) vacant property management, 5) periodic in-person property inspections, 6) lawn and property maintenance and 7) 24/7 emergency response service.
Homefinding Services in the United States and Canada
Whether employees are renting or buying, finding a suitable new home is a top priority of relocating employees. Not finding that new home when they need it can become a major distraction. It’s costly for companies too, when exceptions have to be made to extend temporary living benefits or the storage of household goods. Paragon Relocation gets employees into their new home efficiently and in accordance with their needs. In addition, we advise and help employees buy and lease the smart way, to avoid possible problems should they need to move again. Our homefinding service includes: 1) employee needs assessment, 2) timing management, 3) destination market counseling, 4) selection of a relocation trained Realtor, 5) a community tour with home viewing, 6) mortgage pre-qualification, 7) an assessment of which options best fit the employee’s situation and 8) closing/title assistance when buying.
Mortgage Services in the United States and Canada
Corporate relocation puts special demands on financing home purchases. Working with a mortgage company trained in relocation can make all the difference. Paragon’s sister company, GenEquity Mortgage, can 1) offer more than any single bank large or small as a result of shopping specialty boutique and national lenders, 2) protect against paying inflated prices for properties that may become a liability if the employee moves again, and 3) simplify things for the employee, because our loan officers and underwriters have been trained on relocation benefits and documentation (i.e. equity statements). This allows employees to avoid the confusion and delays frequently experienced with lenders who are unfamiliar with relocation policies and practices. In addition, GenEquity controls all loan origination, processing and underwriting in-house. This typically speeds up the process for customers and enables Paragon to better meet the demands of relocating employees.
Paragon’s rental counseling and search services get relocating employees ahead of the game, before they arrive in their new destination. The service includes online tools, identification of pre-screened properties, local pick-up, a community tour and rental counseling. With the assistance of an experienced Paragon agent, employees not only find a place to stay but find the right place to stay. Typical issues, such as an ever-tightening rental market, rural locations or lease rejection, can be overcome with the right help. Without that help, searching for a home can end up being no easier for a renter than it is for a homeowner. Delays in finding a suitable apartment or home also lead to additional temporary living or household goods storage costs. These types of issues can quickly pile up, exceeding budgeted amounts and impacting productivity.
Temporary Living Services
Hotel costs can add up quickly, while a transferring employee waits for a home purchase or other logistical issue to be resolved. Corporations can save money by providing Temporary Living Services and avoiding higher lodging costs. This service begins with an in-depth needs assessment to determine space requirements, family needs, commuting issues and rental requirements. Paragon will then identify several units meeting the employee’s needs in the destination area, to ensure ample choices and greater satisfaction. The employee can then make the right decision given his/her budget. Paragon contracts with a number of firms to provide multiple options and pricing packages. Plus, direct bill arrangements are available in the United States and Canada.
With the rise of two-income families, it is increasingly critical to provide employment support for spouses. Otherwise, families that rely on a second income may be forced to turn down a relocation. Even when families don’t need a second income, spouses can struggle to adjust without a job if their career is important to them. To keep employees happy, companies must be prepared to care for the needs of the spouse. The benefit is greater focus, satisfaction, and productivity for the employee. Paragon’s spousal employment support includes a needs assessment, networking strategies, a new resume, interview assistance and help identifying target companies. In addition, the spouse will receive a personal advisor with knowledge of the local job scene.
Transportation of Household Goods
Paragon takes the worry out of moving your personal belongings, giving you more time to focus on family and what’s happening at the office. We succeed in doing this because of how tightly we manage our supplier partners. Paragon tracks multiple performance metrics and rigorously manages every move. Our discipline can help avoid excess temporary living or storage charges. 100% of all invoices are audited for accuracy and potential over-charging. Plus, Paragon stands apart from many other relocation companies in being totally independent of its suppliers and therefore able to select moving companies based solely on the best combination of price and performance. In addition, Paragon’s Relocation Consultants follow employees through the entire process, including before, during and after their move.
Paragon’s services include: 1) identification of reporting requirements, 2) audits of all tax and gross-up calculations, 3) tax provider coordination, 4) aggregating data for shadow or tax filings and 5) reconciliations of global statements of earnings to U.S. W-2s. All amounts and calculations are audited prior to sending to the client’s payroll for processing. In addition, all expenses are available any time online through Paragon’s relocation portal, PRISM. At the end of the year, a FAQ sheet and IRS Form 3903 are sent to each employee who incurs relocation expenses in the current tax year, within the United States.