Boeing is one of the largest airplane manufacturers on the planet. They engage in various sectors of the industry, including airplanes, aircraft, satellites, rockets, telecommunication equipment, rotorcraft, and missiles. When it comes it relocation packages, Boeing offers a myriad of employee benefits. In this article, we are going to see about Boeing’s Relocation Package.
Boeing’s does not offer a relocation package for its employees. Job postings include the phrase “relocation assistance is not a negotiable benefit for this position,” implying that employees are to absorb the cost of relocating the Boeing facility of their employer. With this, they will not sponsor applicants for the employee visa status.
As mentioned before, Boeing does offer other benefits which may be of interest to prospective employers, especially overall. A clear definition of a relocation package and visa status sponsorship will be discussed below, followed by the benefits and packages offered by Boeing’s.
Relocation Packages and Visa Sponsorships
Relocation packages are offered by companies to prospective employees to assist them in getting to a position and physical location where they can perform their employment duties.
Visa sponsorships in the US can be offered to international job applicants that will be expected to be granted a visa (usually a work visa) by the US government. Only around 5% of American employers sponsor their international employees’ work visas, and of those sponsoring employers, most of them cannot physically sponsor their applicants as they are for the most part nor eligible to be granted a work visa by the US government.
Benefits Offered by Boeing
Boeing has employee benefits grouped into six categories: compensation, life, career, financial security, health, and community.
Compensation:
- Base pay
- Incentive pays
- Recognition
Life:
- Paid time off
- Paid parental leave
- Adoption assistance
- Discount program
- Employee assistance program
- back-up child and elder care provisions
Career:
- Learning-together program
- Digital learning resources
- Employee development programs
Financial Security:
- Retirement benefits
- Tax-advantaged accounts
- Life and accidental death
- Dismemberment insurance
- Disability insurance (long and short term)
- Student debt resources
Health:
- Medical
- Dental coverage
- Special-care programs
- Physical well-being programs
Community:
- Gift matching of employee contributions and volunteer hours
- Volunteer opportunities
- Employee community fund
- Annual drives
- Environment
What is the Industry Standard for Relocation Packages?
Other players in the industry include, among others, Airbus, Lockheed Martin, General Electric Aviation, Rolls-Royce, and SpaceX.
- Airbus offers a relocation package as well as a visa sponsorship for specific United States positions – for applicants with existing work authorizations.
- Lockheed Martin offers a relocation package to its applicants.
- General Electric Aviation has a comprehensive relocation package. It includes up to $10,000 for relocation, as well as providing temporary assistance with living allowances and reimbursements for all travel within 6 months from date of hire.
- Rolls-Royce does not offer a relocation package for its applicants.
- SpaceX does not offer a relocation package to their applicants.
Judging from the limited industry analysis discussed in the few lines above, Boeing is not in par with the industry trend as it pertains to relocation packages and visa sponsorships. It is fundamental to point out that Boeing is around a century old and can be expected to have enough resources to cover the kickstarting of its employees’ work life, which is essentially what relocation costs are for, as they can also become quite expensive.
Boeing has a long way to go in the point of relocation packages and may create a barrier to entry into the company for applicants.
What Does a Standard Relocation Package Look Like?
According to caprelo.com, a business solutions company, the average or standard relocation package includes a range of components, from moving costs to temporary housing. The average list is as follows:
- Pack/unpack services
- Moving service with insurance coverage
- Lease-breaking penalty assistance
- At least one house-hunting trip
- Transportation
- Miscellaneous expenses
- Temporary living expenses
- Storage costs
- Spousal employment assistance
- Childcare costs
- Elder help
- School location assistance
- Loss-on-sale allowance for owned home
- Return trips home for those in longer-term temporary housing
With this said, it is very clear to see the benefit and relief that these packages offer to employees, also taking into consideration how expensive it can be to relocate closer to a new place of employment. This is especially the case for younger or first-time working individuals, as mentioned before, who may not necessarily have the capital and financial stability to afford such an undertaking.
How are Relocation Agreements Treated in the Legal Sphere?
According to the current legal standing, relocation packages are not a compulsory feature and component to an offer of employment, and as such, Boeing is not breaking any legislation by not offering any relocation packages.
It is important to note, though, that there are relocation agreements that exist and have some rights and obligations attached. Such agreements may even require employees to reimburse the employer for relocation costs incurred, in the event where the employee resigns or severs his employment. In such cases, the clause allowing for such an action would have been agreed to by the two parties, and the contract would be valid and enforceable. Thus, it is important for employees to choose their employment carefully and exhaust all research opportunities to decide whether the employment could be in the short or long term before signing any relocation packages. These packages, although beneficial in the immediate term, could end up being expensive in the long term where the employee resigns.
What Does the Relocation Industry Look Like?
The relocation industry in the United States is massive, worth around $25 billion year-on-year. Interestingly, around 10% of the US population moves houses in a year, averaging around $16 million in relocation costs for those moving for business reasons and the employee pays for such costs.
Conclusion
Relocation package are an important benefit for employees to receive, especially for those that will be working for the first time and required to move far from the region of employment. There are many components of the average relocation package benefit, and most companies seem to pick from these components those that best fit the business, if any at all. Although Boeing’s does not offer any provisioning benefit for such costs, it does offer a wide range of other benefits to its employees. Through this article we would have learnt about Boeing’s Relocation Package.
