RELOCATION ALLOWANCE Meaning and
Definition
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Relocation allowance, also known as relocation assistance or relocation package, refers to a financial amount provided by an employer or organization to support an individual or family in the process of moving to a new location for work or other reasons. The purpose of such an allowance is to help alleviate the financial burden and logistical challenges associated with relocating.
Typically, a relocation allowance covers various expenses incurred during the relocation process. This may include but is not limited to costs related to transportation, temporary housing, moving and shipping belongings, lease terminations, and travel expenses. The specific items covered by the relocation allowance may vary depending on individual circumstances and the organization's policies.
Employers may offer relocation allowances as a form of employee benefit to attract qualified individuals for job positions and facilitate smooth transitions. The amount provided can vary based on factors such as the distance of relocation, the employee's seniority level, and the company's relocation policies. Some organizations may also include additional benefits within the relocation package, such as spousal support, language training, or assistance with finding schools for children.
Relocation allowances are particularly common in situations where employees are required to move to a different city, country, or even continent to fulfill their job responsibilities. By providing financial support, organizations aim to lessen the stress and financial strain associated with relocation, enabling employees to focus on settling into their new environment and efficiently transitioning into their new role.
Common Misspellings for RELOCATION ALLOWANCE
- eelocation allowance
- delocation allowance
- felocation allowance
- telocation allowance
- 5elocation allowance
- 4elocation allowance
- rwlocation allowance
- rslocation allowance
- rdlocation allowance
- rrlocation allowance
- r4location allowance
- r3location allowance
- rekocation allowance
- repocation allowance
- reoocation allowance
- relication allowance
- relkcation allowance
- rellcation allowance
- relpcation allowance
- rel0cation allowance
Etymology of RELOCATION ALLOWANCE
The word "relocation" originates from the Latin term "relocare", which is a combination of the prefix "re-" (meaning "again" or "back") and the verb "locare" (meaning "to place" or "to put"). "Allowance" comes from the Latin word "allaudare", which means "to approve" or "to concede". In the context of "relocation allowance", the term refers to the financial grant or payment given to someone to assist with the costs associated with moving from one place to another.
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