Month: October 2022

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Global Relocation Global Relocation Tips Global Relocation Trends

What are the Top Calgary Industries Leading the City’s 2023 Economic Development?

Updated for 2023

What are the top Calgary industries leading the city’s 2023 economic development? For the last few years, much of the local economic news has been filled with the effects of the COVID-19 pandemic. The Conference Board of Canada reported that the province of Alberta took a massive hit during the pandemic, with the most damaging effects due to the pandemic and declining global oil prices. Calgary is the largest city in Alberta, the city and the surrounding region will experience these adverse effects.

However, the population of the Calgary Metropolitan Region exceeds 1.2 million residents. As a result, both the city and the region are positioned well for significant future growth. Before the pandemic, this year was projected to be Alberta’s first year of full economic recovery.

Top Calgary Industries

According to Calgary Economic Development, 8 Key Sectors drive Calgary and Alberta’s economy. Each sector, in turn, helps Calgary industries to grow with investments and jobs.

1. Aerospace & Logistics

Calgary is home to one of Canada’s busiest airports. Also, one of the nation’s major airlines is in the city. Several Calgary companies are focused on commercializing aerospace technologies such as drones. Aerium Analytics provides Unmanned Aerial Vehicle (UAV) flight and analytics to address issues such as airport wildlife management, building inspections, and forestry management.

2. Agribusiness

Agribusiness is one of the top Calgary industries. This sector is poised to be the fastest-growing adopter of several transformative digital technologies. Spending on these technologies is expected to increase by 23% from 2019-2022. Decisive Farming focuses on precision agronomy, farm management, and crop marketing with services and technologies.

3. Creative Top Calgary Industries

The Calgary Film Centre is located just 25 minutes from the city’s airport. The Centre includes:

4. Energy

The energy sector represents a significant portion of the top Calgary industries. Clean technologies include those that derive from solar, wind, bioenergy, and geothermal sources. Calgary industries focusing on energy are the most well-known in the city. Alberta is Canada’s largest producer of natural gas and oil. Over 70% of the province’s CleanTech company headquarters are in Calgary.

5. Financial Services

What is FinTech? This term describes the use of new technology to improve and further automate both the delivery and use of financial services. It may also include concepts such as cryptocurrencies like bitcoin. Companies like Bitfury are leading the effort in implementing blockchain technology and artificial intelligence solutions.

6. Interactive Digital Media

Over 60 companies in Calgary produce video games and/or immersive media products. The Calgary Game Developers Association has over 800 members and represents a strong talent pool.

7. Life Sciences Top Calgary Industries

There are over 110 life science companies in Calgary, making for a sizable segment of the top Calgary industries. Oncolytics Biotech Inc. is developing an immuno-oncolytic virus to kill cancer. The Calgary Cancer Centre is scheduled to open in 2023. The centre will increase capacity and add to Calgary’s leading role in cancer services.

8. Technology

Calgary businesses are projected to spend $7.5B on digital transformation (DX) from 2019-2023, representing a 20% compound annual growth rate. What is DX? DX refers to applying new technologies to change work processes and customer experiences and enhance value. It’s not just making current technologies work better in a defined process. It uses new technologies to change the function and gain advantages through innovation and disruption.

What Should Employers in the Top Calgary Industries Do?

Employers in the top Calgary industries should examine their employment needs as economic growth fosters competition for job seekers with requisite skills and training. They should review their relocation program to determine if it benefits their talent acquisition goals and corporate objectives. Employers should work with a Relocation Management Company with the knowledge and expertise to help them design a relocation program promoting talent acquisition.

GMS has recently published several Industry Benchmarking Studies to help employers in the top Calgary industries learn whether their company’s relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking. For example, employers can learn how they can ensure their competitiveness in their industry to attract and retain talent with the highest level of skills and experience.

Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. This review will also help your company learn how the relocation industry is evolving to meet increased employee demands.

Stay up-to-date with GMs

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can help your company determine how to attract job seekers looking for employment opportunities in any of the top Calgary industries.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs as they relate to the top Calgary industries, or give us a call at 800.617.1904 or 480.922.0700 today.

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Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Buy a Home Global Relocation Global Relocation Tips Global Relocation Trends Relocation Best Practices

How to Prepare International Transferees for U.S. Home Purchase

Multiracial family getting home consultation
Home consultation

Here are some tips for international employees to use when looking to buy a home in the U.S.

Moving to a new country for a new job can be a lot of work. Preparing the family for the move, finding a place to live, ensuring all visa documents are accounted for, etc. There is a lot that goes into international relocation. As many people know, purchasing a home is one of the lengthiest parts of the relocation process. The home-buying process can be extended, and those not used to real estate regulations in the US will find it even more confusing. 

For those relocating to the US for a job on an H1-B visa or even those looking to buy a home to live in a while on a long-term international assignment, the standard process for buying a home in the US differs significantly from most countries in Asia or Europe. 

The first and most crucial step when preparing to move overseas is to review your international relocation package provided by your employer carefully. See what relocation benefits your new company offers, then ask how to utilize each. Many international relocation service providers will help companies create unique benefits for each transferee. And in most cases, relocation benefits include home-buying programs that can help in a significant way, both process-wise and financially. 

With that said, here are a few things to keep in mind when purchasing a home if you are relocating to the U.S. for work: 

Visa & Immigration Documents Needed to Buy a Home in the U.S.

Working with a full-service relocation management provider can help immensely with visa and immigration documentation. They can help you file for the proper visa, in turn, they can also help you with which immigration documents you will need to apply for mortgage approval when buying a home in the U.S. Each mortgage lender will have different requirements when filling out applications, but among the most common documents needs are: 

  • Valid foreign passport
  • U.S. visa and/or a driver’s license
  • Social security number or ITIN
  • Bank statements 
  • Financial documentation from your foreign bank
  • Evidence of reserves
  • Paycheck stubs
  • Tax return for the last two or three years

Can International Transferees Buy a Property without a US Credit Score?

Yes. International buyers are eligible for loans from U.S. mortgage providers even if they do not have a U.S. credit history. In some cases, lenders even offer special programs for immigrants and non-resident buyers with no credit to get a competitive rate still. And some relocation management companies work with lenders to set up specialized programs for H1-B and L-1 visa holders.

Next Steps After Mortgage Approval

Once the international transferee has been approved for a mortgage from a U.S. brokerage, they know their realistic budget. From there, they should work with a real estate agent specializing in relocation home purchases. These relocation preferred real estate agents will know how to handle the transaction regarding closing date, move-in date, days to close, and other aspects that might vary from an international move. 

Once a real estate agent is chosen, the transferee and agent can start working together on finding their dream home in the new destination. It’s worth checking your relocation package to see if your new company includes any house-hunting trips. These trips are usually a few days so that you can view homes with your real estate agent. It also serves as a time to check on international schools if relocating with children. 

Once a budget and area are set, then comes time to start putting offers on houses that are appealing. Your real estate agent will help you arrange a competitive bid on a property, then assist in negotiating with the seller for a final price. Remember that relocation packages will often include home-buying programs that can help with closing costs and commissions.

After the Offer is Accepted

If your offer is accepted and the home inspection goes well, you are ready to start your relocation process. The typical closing window for a home sale in the U.S. is about 30-45 days. Once all your visa and immigration paperwork is filed and accepted, you can work with your relocation service provider to begin scheduling movers to assist with getting your household goods to the new destination. A reputable global mobility provider will provide a relocation coach who can help you every step of the way through the moving process.

Keep Taxes Top of Mind

The home buying process in the U.S. might present a different variety of taxes compared to what you are used to in your country. A few tax regulations to keep in mind when closing on a home include Capital Gains Tax, Withholding Tax, and State Property Tax.

 Be sure to stay in the loop on all taxes due by asking your mortgage lender and real estate agent. If you are assigned a relocation expert to assist you in moving, they should have some insight into what taxes should be paid. They also might know of some tax breaks that can help you from buying a home.

GMS Can Help International Transferees Relocate

Global Mobility Solutions (GMS) specializes in helping corporations worldwide relocate their employees internationally. We help companies create competitive international relocation packages that attract top talent for open positions. From there, we assign a relocation coach to each transferee. 

This gives a single point of contact to each employee relocating. This relocation expert will help the employee handle all aspects of the relocation process, including getting them in touch with a relocation real estate agent. 

GMS only works with the top real estate agents across the U.S., and we ensure that all agents specialize in working with relocating families. Our expert relocation team also specializes in visa and immigration applications.  If you are ready to hear more about how GMS can help you with your global mobility needs, please reach out today to set up a free consultation.

We're Here to Help! Request a Courtesy Visa Program Consultation

Properly managing a visa and immigration program involves meticulous coordination, precise communication, and worldwide interaction with government agencies, corporate personnel, and relocating employees.

At GMS, we provide you with peace of mind in knowing your mobility program is fully compliant and being managed by the best in the industry.

Request a no-pressure, courtesy consultation from a GMS Mobility Pro. We’ll be in touch within 1 business day.

Categories
Career Services Job Market Job Seekers

A Guide to EAP Programs

Woman sharing her experiences during a group therapy session
Woman sharing her experiences during a mental health group therapy meeting. Multiracial women participate in support group session sitting in a circle.

What is an EAP?: Everything you need to know about setting up EAP Programs for your employees

An Employee Assistance Program (EAP Program) is a professional service program designed to help employees handle issues that arise daily in both a career setting and their personal life.  An EAP provides benefits to employees in the form of counseling and other services. In most cases, these programs also offer resources to managers and employers through organizational development and training. Typically EAPs are set up by the company’s human resources department. Various vendors can help a company set up an EAP.

Most companies have an online portal where employees can review and utilize these special EAP benefits. The most common benefits include mental health counseling, discounts on other services, and sometimes gym memberships or phone bills. 

This guide provides insight into what an EAP is and the associated benefits and standard services usually included. Choosing the right program for your organization is essential, as the services provided can directly impact the well-being of your organization. Therefore, it is critical to ensure that your employees are provided the assistance and help they need.

Common EAP Program Services

Each company will have different areas of services to offer its employees, but here are some of the standard services EAPs usually include:

Mental Health Counseling

Employees who are stressed or overwhelmed by personal or work situations can’t perform their duties effectively. An employee’s poor mental health can lead to decreased productivity, increased absences, and errors that might lead to safety mistakes. An EAP that provides counseling can be the perfect resource that an individual might need to get help. A solid EAP will have a list of counselors that an employee can choose to contact. 

In most cases, the employee’s immediate family members can also have access to counseling through the EAP. This is an essential detail that companies should look into because if the employee has a family member who is having a rough go of it, their productivity can be just as compromised, just as bad. 

The 24/7 online and over-the-phone counseling programs have become more popular over the years. It is expected that many EAPs will cover this type of counseling, but companies should go the extra mile to ensure that in-person appointments can also be made for employees.

Personal Life Resources

It’s not just enough to promote a healthy work/life balance. Companies should put processes in place that create a perfect work/life balance. Numerous employees struggle with finding the right mix of working hard for the company and taking time for themselves. Some situations come up in everyday life that sometimes requires additional assistance. Personal life resources are meant to provide employees with the options they need help with. 

The most common life situations that employees may need help with are: 

  • Child care
  • Pet care
  • Housing services
  • Education
  • Elder/adult care

That’s not to say that the company should pay for each employee’s daycare or pet boarding services. But an EAP could be an excellent opportunity for the company to get a stellar price from vendors offering these services and then promote a great price to employees. This sets up a win for all parties. The company gets a happier, less stressed employee. The employee receives these services at a reduced price. And the providers for these services get repeat business. 

Career Advancement Services

This one should go without saying. Every company should invest in the advancement of its employees. It is a good idea to include career advancement programs in EAPs. Special training, classes, or conferences that can help employees learn more about moving up to the next level has numerous benefits. Employees who feel they are trained and appropriately promoted are more likely to stay. 

If the company can train and then promote from within, it can help cut down on employee turnover. And every company knows that employee turnover costs money because the hiring process can take much longer than expected.

Update Your EAP with Relocation Services

An excellent way to make your EAP more comprehensive is to include a small range of relocation services for employees to utilize. With so much of the workforce going remote these days, companies are not as willing to pay to relocate employees, but if the company were to partner with a reliable relocation service provider such as Global Mobility Solutions (GMS), then they could add talent mobility benefits to their EAP. 

If employees have relocation benefits at their fingertips, they can move to where their family is most comfortable, at a more affordable price, without the company having to pay for it. This could be a good setup for companies in a remote setting. 

There are still benefits of working with a relocation management company for companies not in a remote setting. For starters, relocation companies have a long list of reputable real estate agents who can still assist employees who are looking to move within the state. Also, partnering with an RMC can give you options for moving companies within your EAP, so employees who have to find a new apartment or house have some help moving.

Why GMS?

Why use GMS as your relocation management company in your EAP? GMS is the industry leader in talent mobility. Our expert team has been helping employees move, both domestically and internationally, since 1987. We work with companies to figure out their needs when it comes to relocation services. Whether you’re looking for full-service relocation assignments for your in-office employees or some side benefits to add to your EAP, GMS has you covered. Feel free to set up a call with one of the relocation experts who can assist you in moving forward.

What's happening in your industry? Request a Courtesy Benchmark report

At GMS, we make it a priority to know how talent mobility is changing in each major industry. What are the best practices? How are other companies changing their programs to retain a competitive edge? Your Mobility Pro will be in touch within 1 business day to help answer your questions and benchmark your industry.

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About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

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