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Cash Doesn't Cut It - Eight Reasons Why Lump Sum Relocation Policies Aren't Fit for Purpose
July 19, 2024
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A warm welcome to the November issue of PerchPeek’s Netherlands Market Monthly update!
Here’s where you’ll find the hottest stories around employee relocation and global mobility, insights from our experts on housing and cost-of-living news affecting your staff, the latest trends in international talent strategy, and tips and tricks on ways to support your teams.
A fly-by summary
The Festival of Sint-Maarten has been and gone, Sinterklaas is approaching, and the nights are drawing in…the festive season is upon us! As well as all the fun stuff, it can be a tricky time for house-hunters, with agencies closing for the holidays and the process generally slowing down.
If you’re supporting employees coming to the Netherlands, you can help manage their rental market expectations at this time of year with this key advice from the PerchPeek Netherlands team:
Dutch house prices are starting to decline, following years of steady rises and sharper increases over the last year and a half. According to Statistics Netherlands (CBS), October’s house prices saw the largest month-on-month drop since 2013, and while still high, have been falling slowly over the past few months.
Real estate association NVM has named several factors driving this trend, including soaring inflation and high interest rates on mortgages. The latter means the number of mortgage applications is declining, having a knock-on effect on how prices trend in response to demand.
It’s worth noting the effects that potential stagnation in the buying market could have on renters. If fewer properties are being purchased, this adds to the pressure already being seen in the rental market, especially in major cities, where demand is massively outstripping supply.
To support home-hunting employees, it’s best to keep aware of these challenges and make allowances, like reviewing relocation packages to make sure movers have the financial freedom to stay in temporary accommodation for potentially longer periods. Plus, offering flexibility to attend viewings during work hours is super helpful - being first in the queue makes a big difference!
As we enter the cold winter months and consumers are grappling with rising utility costs, a new government energy bill support measure has come into effect this month to help ease the cost-of-living strain.
All households will receive a €190 discount on utility bills in November, plus another €190 discount in December. Consumers don’t need to do anything; most energy suppliers will deduct the amount automatically from their monthly bill or make a direct debit payment to their account.
All employees, particularly newcomers to the country, are likely to appreciate being made aware of the winter energy bill contribution. They shouldn’t have to take any action, but should flag it with their supplier if they don’t see a reduction in bills or receive a payment.
Plus, newcomers setting up utilities will need to know that their bills until January 2023 will be significantly reduced, and from then they’ll increase to the ‘normal’ amount (with capped prices).
As there’s continued uncertainty around the future of utility costs, our advice is to review compensation and relocation support packages regularly to make sure they stay in line with the current cost of living. Any easing of financial worries is something that’ll make a massive difference to your employees!
Following months of railway service disruption, Nederlandse Spoorwegen has announced more timetable cuts as of 7th November due to ongoing severe staff shortages. This affects much of the country, with numerous weekday services between several major cities being slashed.
Another contributor to the disruption has been a series of railway strikes. PerchPeek’s experts on the ground have reported a lot more commuters on FlixBus services than normal!
For HR leads, it’s worth noting the knock-on effect these transport issues are having on staff:
It’s important to stay on top of these issues that employees are facing, and in particular for new arrivals, make sure they’re up to date on the best ways to reach the office right now. They’ll also be super grateful for the financial support to be able to use the best public transport routes.
With the ongoing cost of living crisis, it might feel more difficult to muster up some festive cheer, especially for those newly arrived in the country. However, one way to offer support to your employees is by making them aware of cheap or even free ways to enjoy the sights of their city!
Towns and cities across the Netherlands will soon be transforming their main squares into wonderlands festooned with twinkling lights and lined with stalls selling crafts and sweet treats.
Exploring the scenes with a mug of mulled wine is a great way to boost morale, get into the holiday spirit and mix with the local community, plus a chance to pick up gifts for loved ones!
Here’s the key information on some of the biggest and brightest:
We hope you enjoyed this month’s update - if you ever have any feedback, comments or questions about what's going on in your location, feel free to reach out!
Thanks for reading, and see you next month!
No matter where your business is located, or how many employees you have to move, the relocation experts at PerchPeek are standing by at all times to answer any and all questions that you may have about moving and taking care of your most important business asset, your team!
We’d love to hear more about your mobility program. Chat with one of our account managers to find out how our platform can support your team
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