Great news has recently been released for the corporate housing industry. With the economy gradually improving, corporate relocations are predicted to rise over the next 12 months.
Weichert Relocation Resources Survey Predicts Increase In Corporate Relocations
06/14/12 - 09:00 AM EDT
The pace of corporate relocations is expected to pick up in 2012, spurred by a gradually improving economy, more favorable real estate trends and faster evolving business priorities. According to the results of Weichert Relocation Resources Inc.’s (WRRI) 2012 Employee Mobility Survey, an overwhelming majority of companies expect their relocation activity to increase (40%) or remain at the same level (54%) over the next twelve months—a stark contrast to the post-recession landscape of just a few years ago.
Now in its sixth year, WRRI’s 2012 Employee Mobility Survey captures the input of approximately 150 U.S.-based corporate relocation managers responsible for 25,000 annual moves.
“A key takeaway from our results is that companies are shifting back into growth mode and planning to deploy talent in greater numbers,” said Ellie Sullivan, Vice President of Consulting. “This underscores the key role relocation plays in helping companies execute their growth and talent management strategies and can also be viewed as a bellwether of economic improvement.”
The survey also found that as skills gaps widen, recruitment becomes increasingly competitive and the talent pool diversifies, more companies view relocation as either a “critical” (43%) or “important” (49%) part of their talent management strategy.
“Based on our survey results, we anticipate further alignment in the coming years between relocation and talent management and greater opportunities for corporate relocation managers to be viewed by senior leadership as strategic allies,” said Sullivan.
Other compelling findings include:
- Relocations are taking longer to complete, as indicated by the two most common policy exceptions: extension of temporary living and extension of the overall relocation timeframe.
- Ninety-six percent of companies offer some form of home sale assistance to their relocating employees. Other popular benefits were loss-on-sale assistance (73 percent) and pre-decision assistance (67 percent).
- Sixty-seven percent of companies have adopted pre-decision programs on a formal or case-by-case basis, up from 53 percent last year.
- Fifteen percent of companies plan to add a pre-decision program or extend such assistance to more employees. Thirteen percent intend to add or increase loss-on-sale assistance.
For the complete survey results, email firstname.lastname@example.org.
About Weichert Relocation Resources Inc.: 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 meet their talent management objectives. For more information, visit wrri.com.