Relocating interns can be tricky—since they aren't full-time employees many employers forget to offer them assistance, but the truth is they still need help! Learn about 3 ways you can help you interns in ways you may not have last year
To learn more, read our eBook here: http://resources.urbanbound.com/ebook-internship-relocation-policies
8. Since your internship is probably one of the first
professional experiences your interns have, they
are going to want help.
9. Since your internship is probably one of the first
professional experiences your interns have, they
are going to want help.
and it’s
important
to give it.
10. Too often, employers just
end up throwing a lump
sum or prepaid credit card in
their interns’ direction and
hope for the best.
19. And, with a successful
relocation, comes:
a policy
20. In fact...
interns are the perfect
candidates for a relocation
policy. They’re the ones looking
for someone to tell them what
to do, how to do it, and when
to do it.
21. In fact...
interns are the perfect
candidates for a relocation
policy. They’re the ones looking
for someone to tell them what
to do, how to do it, and when
to do it.
...which is exactly a relocation policy does.
23. full-time policy
intern policyyour move
with Acme
YOUR LUMP SUM — $7,000
HOUSEHOLD GOODS — $6,000
HOMEFINDING TRIPS — $2,000
AUTO SHIPMENT — $1,200
STORAGE — $500
FINAL TRAVEL — $250
your move
with Acme
YOUR LUMP SUM — $2,000
SHORT TERM HOUSING —
$1,000/month
TRANSPORTATION —
$1,500
MEAL STIPEND — $500
25. It’s important to understand the different
kinds of thresholds as it relates to salary and taxes.
26. An intern's salary isn't going to be nearly what your
full-time employees are making, which needs be factored
into how their policy is structured.
It’s important to understand the different
kinds of thresholds as it relates to salary and taxes.
27. An intern's salary isn't going to be nearly what your
full-time employees are making, which needs be factored
into how their policy is structured.
It’s important to understand the different
kinds of thresholds as it relates to salary and taxes.
Meaning, you won’t need to gross up your lump
sums to the same level you do for your full-time
hires, because the taxes they owe won’t be as
substantial.
28. Which is an example
of this coming
back into play
29. It’s also important to
understand that interns
also don’t qualify for the
same tax deductions that
your full-time hires do.
32. SHIPMENT OF HHG & AUTO
30 DAYS OF IN-TRANSIT STORAGE
FINAL TRAVEL
33. interns must meet the
requirements of both the
time and distance test
however:
34. DISTANCE TEST TIME TEST
The distance from an employee’s
old residence to their new principal
place of work must be at least 50
miles farther than from their old
residence to their old principal
place of work
Employees must be employed full-
time in the new location for a least
39 weeks (75% of the year) during
the first 12 months after you arrive
in the general area of their new job
location.
35. While interns may meet
the distance test, many
will not meet the time
test, meaning they
don’t qualify for tax deductions.
36. Remember this as
you allocate benefits
to interns, and
remind them that
every dollar they
receive is taxable.
37. Since this can be
confusing,
try to educate
interns on these
things ahead of
time
39. Ask an employer what their #1 stressor is:
“SHORT-TERM
HOUSING”
40. Ask an intern what their #1 stressor is:
“SHORT-TERM
HOUSING”
41. Housing is a common concern across the board, but many
employers can’t find the time to figure out each and
intern’s housing situation, and interns usually don’t have
any idea of where to start. Employers struggle to manage
the housing costs, logistics, and sometimes both.
42. The first step is figuring
out exactly how you will
help
43. The first step is figuring
out exactly how you will
help
What we’ve seen to
be the most effective
is for employers to
handle the housing on
behalf of the intern
44. While short-term is a taxable event, it’s
easier to administer to the interns if it is
handled for them. Instead of throwing a
$5,000 check the interns’ way and telling
them to use it for housing, it can be more
effective to lower what you give to them
in lump sum and use the remainder to
instead directly cover housing costs.
46. To take it even one step further...
Furnished short-term housing can
dramatically improve the relocation
experience. It takes away the need for a
household goods shipment, (as all they
would need to bring can fit in the back of a
car or in a few suitcases) and, they’ll feel a
weight lifted without having to worry
about bringing a whole suite of furniture
for just a few months. Not to mention, you
can rest easy knowing that you won’t be
bombarded with dozens of questions about
what they should be bringing, how they
should get it there, and where they should
look for furniture.
48. Talk to other employers in the area hosting
interns and try to match them up with one
another. Any common thread interns can
connect on with their roommates, even if
it’s across different companies, will be a
great starting point. If you can’t quite
afford to fully subsidize short-term
housing, offering any kind of support (first
month’s rent, 30% of rent, or even just
assistance with finding house) will be
recognized and appreciated.
50. is a huge piece of the
puzzle when it comes to
relocating interns.
TIMING
51. In fact, one of the biggest
downfalls of an intern
relocation program is
assuming that your interns
will know what needs to be
done and on what timeline.
52. While the amount of tasks
interns need to complete is
considerably less...
53. While the amount of tasks
interns need to complete is
considerably less...
the time sensitivity is
much greater.
54. Interns probably won’t be concerned with:
● finding schools
● setting up cable
● cost-of-living
● shipping household goods
55. But, they will be concerned with:
● the neighborhood they live in
● cost of rent
● transportation
● city life
56. By providing relevant information, they’ll resonate
more with it and be more inclined to listen to your
advice (which will translate to a more positive and
successful relocation and internship experience).
60. For many of the popular cities, having a roommate,
especially for interns on a relatively low budget, is
practically a must. Many interns simply don’t
understand how expensive it can be, so they’ll need you
to educate them on those costs, facilitate the necessary
connections, and guide them in the right direction. The
earlier they can get their hands on this type of
information and start planning, the better.
64. Assisting with the relocation on the back end of the
internship will leave interns with a much more positive
idea of you than if you had left them out to dry at the
end. This is important, as interns are great candidates for
future positions, and not only do they need to be a good
fit for you, you need to be a good fit for them.
65. In the end, the
most important
thing to
remember is to
treat an intern’s
relocation just
like any other.
66. Make interns feel like you care about them—and
support them through their move. They’ll appreciate
(and remember) it!