A large automotive company needed to simplify their program administration by enabling their partners to access their data online and to receive the output directly into their offer letter format. The company has successfully leveraged lump sums for domestic relocations, providing an allowance to cover airfare or mileage (depending on the travel distance), accommodation, and meals.
AIRINC partnered with the company and their RMC to leverage our lump sum solution to create final move and temporary living calculations configured to the company’s policies with instant access online.
Calculations were differentiated by:
- Home ownership status
- Whether the employee was a current employee or a new hire
- Distance the employee would need to move for their new role
The provider switch included a review of the current processes as AIRINC, the client and their partners looked for opportunities to optimize their lump sum processes. Their RMC advised that they were doing significant manual work to pull together the promissory note for the employee. This was because the promissory note included multiple fields (e.g., the lump sum value, key dates, the employee’s name) that needed to be filled in by the RMC manually as their current provider did not have a flexible output in their lump sum delivery tool. The team had to manually type the values from the lump sum report into the promissory note which, given the volume of moves that the client had in a given year, totaled many hours of work for the RMC -- as well as significant error risk.
AIRINC was able to set up the promissory note as part of the Lump Sum Calculator output and auto-fill all of the manual entry fields using the data entered in the Lump Sum Calculator. This configuration saved many hours and errors for the company’s RMC. Reviewing their domestic data and technology options enabled the client to get better and more cost-effective data; just as importantly, the client was also able to create a more streamlined, error free administration process.
Are you relocating or assigning an employee within a single country?
Whether you are looking for domestic cost-of-living allowances (COLA), lump sum and managed cap allowances, or advice, AIRINC’s dedicated client service teams ensure that you have the tools and policies to effectively deploy your domestic talent.