Purpose & Eligibility
As Centerspace strives to develop and retain our talent, there may be times when relocating a current team member is a mutually beneficial option to fill a role in another market, or it is necessary to relocate a new team member to one of our markets. Depending on the business need and level of role being filled, Centerspace will provide varying levels of support to help facilitate this move and make the transition a smooth one for the team member and their family while minimizing disruption to Centerspace.
Relocation Approval
Approval for relocation to states in which Centerspace actively manages communities and operates is subject to review and approval by the relocating team member’s Department Head and Talent & Culture, to ensure that the job responsibilities can be completed in another location without any adverse impact to the team, department, or our customers. Team member performance may also be considered when considering approval for a relocation request; team members should be in good standing and have a record of good performance to be considered for relocation.
Centerspace will not approve relocation to states in which we do not actively operate or have established procedures to support team members.
Taxes
Any financial support provided by Centerspace related to Relocation will be taxed according to the IRS guidelines. Relocation support provided will impact the team member’s total compensation and we encourage all team members to consult with a tax professional to fully understand any implications this may have on their tax circumstances.
Agreement
Relocating team members will be provided with a Relocation Agreement that outlines responsibilities of both the relocating team member and Centerspace. When possible, such agreements will be provided to the team members at least 10 days in advance of the relocation. This Agreement will outline the details of the new position and location, salary and bonus potential, and any applicable relocation assistance.
Exceptions
Centerspace reserves the right to deviate from the Relocation Policy but any requests to exceed the provisions of the standard policy must be approved by a member of the Executive team.
Relocation Assistance
|
Relocation Assistance1 |
PTO Assistance2 |
Signing Bonus3 |
Company Initiated |
Varies based on business needs & role. |
Yes |
Yes |
Team Member Initiated |
No |
Yes |
Yes |
Relocation Assistance: Centerspace may provide a grossed-up relocation incentive bonus to the relocating team member, subject to federal and state withholding taxes, coded to Relocation.
PTO Assistance: Centerspace may issue Paid Time Off in addition to the relocating team member’s standard accrual.
Signing Bonus: Relocating team members will be eligible to receive an applicable signing bonus to the position that they are filling, if the position was posted with a signing bonus.
Also found in the Centerspace Team Member Handbook & Policy Manual.