Definition & Meaning:

A 'relocation package' is the name for the money/help that a person receives for taking a permananet (or semi-permanent) job/position in a different city or country to where they live.

The money given in a 'relocation packages' is used to cover the cost and the inconvenience of moving (e.g. the cost of moving furniture or possessions, hotel accommodation, flights/transport etc...). Sometimes, the person will be given a lump sum (a one-off payment) by the company and they have to organise everything themselves. While other times, the company will both pay and organise things directly.

Normally, 'relocation packages' are only given by companies to its existing employees and more often then not when the move is a forced one (the company tells the person that they have to go). 'relocation packages' are sometimes offered when recruiting/hiring new employees, but normally for only senior or important roles (e.g. CFO/Director of Finance etc...).

Search to find another definition

   

Related Vocabulary:

Severance Pay, Severance Package, Time Off in Lieu.

To learn more vocabulary connected to job conditions, you can do a free online exercise on job related vocabulary.