March 20, 2009 // Franchising.com // Morris Plains, N.J., — Despite the harsh market realities of 2008, Weichert Relocation Resources Inc. (WRRI), a global leader in relocation and assignment management, implemented a number of creative solutions and leveraged unique competitive advantages to record another successful and memorable year.
"Throughout 2008, we faced many of the same challenges that our clients did, and took preemptive measures to minimize the impact of the economic slowdown," said Aram Minnetian, President of WRRI. "To shield our clients from the effects of the recession, we implemented unique policy and home marketing strategies, such as our innovative Next Practices, which represent the next generation of relocation and real estate best practices. I am happy to report that the clients who adopted our Next Practices achieved lower home disposition costs, higher amended value rates and reduced days on market."
WRRI's unique status as an independently-owned company proved to be another compelling distinction in the relocation marketplace, providing the company with unparalleled financial stability and integrity.
"WRRI's strong capital base affords us the flexibility and agility to respond quickly to new business opportunities and deliver solutions in timeframes that few competitors can match," said Jim Schneider, Executive Vice President.
"Where tighter lending standards and excessive debt have made some relocation service companies a going-concern risk and forced them to reduce or stop funding their clients' relocation programs, we have expanded our credit lines to fund client equities and expenses, while continuing our practice of carrying zero corporate debt," said Schneider.
WRRI's relentless focus on quality and performance helped the company set a new benchmark for client satisfaction, which rose to 97.4 percent, while transferee satisfaction remained solid at 96 percent.
"Our high client and transferee satisfaction ratings are especially rewarding given current market conditions," said Dave Bencivengo, Executive Vice President. "Ever since we adopted our Raving Fans customer service program over five years ago, we've remained vigilant about enhancing the customer experience and making service quality a true competitive advantage. We're proud to see that our efforts continue to bring unprecedented levels of positive feedback."
Other notable milestones achieved last year included:
"Our 2008 accomplishments prove that WRRI has the service quality, leadership commitment and financial stability to thrive under the most challenging market and economic conditions," said Minnetian. "In 2009, we plan to further our market leadership position by offering new and innovative ways to help our clients attract and retain critical talent."
Weichert Relocation Resources Inc. (WRRI) is The Next Practices Company?, delivering the next generation of relocation and assignment management services that help some of the world's leading companies avoid inventory, increase employee home sales, enhance mobile workforce management and reduce program costs. A Balanced Scorecard Hall of FameTM Company, WRRI provides a unique combination of stability, financial expertise and seasoned leadership that has made the company a trusted, proactive partner to clients throughout the world.