Making a new hire which involves a relocation is common within the Hong Kong banking and financial services sector, where demand for high-quality global talent with specific technical skill sets is high. To remain competitive, companies now offer employee relocation packages which can attract significant talent with job offers including financial reparations for the large costs of moving to a new city or country for an exciting role.
Relocations are an unavoidably high-stress transition, but employers can provide support through legal and financial advice, and insider information on everything from local neighbourhoods to where the best schools are located.
This guide provides advice on how to put together an attractive relocation package which considers every aspect of supporting an employee who is relocating to work for your company, including protecting your investment using payback clauses.