Category: Domestic Relocation Trends

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Five Tips to Help Your Company Move Employees to Remote and Challenging Locations

Signing documents for a loan

What is the best method to help an employee agree to take a relocation assignment at remote or challenging locations? Or to help a candidate accept a new job offer at a similarly challenging location?

Companies that are not familiar with the relocation process may not realize how important it is to put in the extra effort early on to gain acceptance for assignments while also reducing overall relocation costs. Look for a Relocation Management Company (RMC) that has experience working with clients to place employees in remote and challenging locations. The RMC will provide valuable insight to help your company increase job acceptance rates.

Here are five tips that will help your company move employees to remote and challenging locations:

Five Tips to Help Move Employees to Remote and Challenging Locations

1. Pre-Decision Services

GMS is recognized as the RMC that pioneered the development and usage of many of today’s most effective “pre decision” services.

The use of pre-decision services has emerged in the mobility industry as a critical tool in the retention of an organization’s talent and helping employees relocate to challenging locations. Our corporate clients will tell you that the implementation of this program for both a domestic move and a global assignment results in employees that start work sooner, stay longer, and are a better fit in the corporate culture.

Our systems and processes including high-touch customer service, policy expertise, benchmarking, and flexible reporting options allow clients to manage employee relocation programs with better ease and efficiency.

Pre-decision services include the following:

  • Candidate Assessment – Assess candidate expectation, skills, personal qualities, family circumstance, and financial preparedness.
  • Cost of Living analysis – Cost of living comparison of origin and destination cities to help determine acceptable or competitive salary range.
  • Market analysis – Determines the likely home sale timeline and identifies potential home sale challenges such as negative equity.
  • School Reports – Public and Private School reports provided to the relocating employee to aid community selection.
  • Moving Cost Estimates – Cost estimates on household goods transport, helps budget for relocation costs.
  • Community Search and Tours – Coordinates community orientation tours to familiarize relocating employees to their new location, and assist in selecting an area that fits their particular interests.

2. Community Tour of Challenging Locations During Interview

Companies should work with an RMC to set up a community tour during an interview. The focus should be on the many positive aspects of the location. This will help position the company and the location in the best light possible.

For example, a client might be experiencing a loss of candidates due solely to the fact that the candidate arranged their own transportation from their hotel to the company’s facility. If the candidate’s hotel is located near an airport and the surrounding area is not scenic, the candidate will not see any desirable neighborhoods and local points of interest. Partnering with an RMC to provide community tours can address this issue. RMCs provide upfront education on the area to help the candidate see the many positive aspects of the location. As a result, the RMC will help the client increase job acceptance ratios.

3. Include the Family

When a company has determined a candidate is a good fit for the position after the initial interview, a second interview should help finalize the decision process. Companies should consider flying the candidate and their family out for the second interview, before finalizing the job offer.

Including the candidate’s family shows them that the company cares about their well-being, and wants them to feel comfortable in the new location. Work with an RMC that can help the family members learn more about the community, schools, activities, and other points of interest. The RMC will learn what is important to the candidate and their family members during the pre-decision process. The RMC can use this information to highlight the new location in the best manner.

4. Offer Spousal or Partner Assistance

When an employee is offered a relocation opportunity in challenging locations, their spouse or partner’s needs should be considered as well. Often a new job for a transferee may mean a job change for their spouse or partner, in addition to relocating to a new location. The more support and information a company provides for spouses and partners, the more likely the relocation will be successful.

Companies should consider offering services that will help the candidate’s spouse or partner and their family members during the relocation process. Such services can include spouse or partner employment support, counseling services, and stress management assistance.

Spouse and partner career support programs promote successful relocations. Employees expect their company’s relocation programs to provide a wide range of services, technology, and tools. These resources will help make for an easy and smooth relocation process. Along with services targeted specifically for the transferee, the most successful company relocation programs also provide support programs for spouses and partners. Employee’s family members participate in the relocation process, and as such their buy-in and support can ensure a successful assignment.

5. Destination Spotlights for Challenging Locations

Employees considering a relocation assignment are looking for information to help convince them that a relocation assignment will be a valuable experience. Companies with successful relocation programs provide as much information about new and challenging locations as possible. This helps their employees and family members gain a favorable impression and acceptance of a relocation assignment.

A destination spotlight showing highlights and exciting activities provides peace of mind. Also, it boosts the confidence of employees considering a relocation assignment. RMCs can provide information on North America and Global destinations that will help employees learn the best features about the new location.

Conclusion

Global Mobility Solutions’ team of global relocation experts have helped thousands of our clients move employees and candidates to remote and challenging locations. We can help your company understand how to design your relocation program. As a result, your program will highlight the best features of a location, and increase job acceptance ratios.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Understanding Why Traditional and Self-Service Relocation Program Models Stay Relevant in Healthcare

There are various relocation program models that companies can use to provide transferees and their families a range of benefits to ensure a successful relocation. Global Mobility Solutions’ Medical Industry Benchmarking Report shows that among healthcare companies:

  • 86% offer a traditional program
  • 14% offer a lump sum/managed cap (self-service) program
  • 22% offer both types of programs

A best practice consideration is to adopt a combination of traditional and managed cap programming models. Reviewing the basic features and benefits of traditional and self-service relocation program models can help companies understand which programming model is the right choice for their unique requirements.

What is a Traditional Relocation Model?

A traditional relocation program generally provides for ongoing employee support services, supplier management, candidate selection, relocation benefits, and expense management. Corporate relocation programs frequently vary by company due to size, need, or destination. The overall process of employee relocation is usually divided into one of four service brackets including:

A robust pre-decision process is one of the most important things that contribute to high satisfaction rates among relocating employees. Recognizing its importance to overall satisfaction, there has been a significant increase in pre-decision service usage within the healthcare industry.

Additionally, 84% to 90% of healthcare companies utilize a tiered policy approach to relocation. The most common are by position level or homeowner versus renter status.

Providing additional benefits in a relocation program to attract highly skilled new hires will give a healthcare company a competitive advantage. For example, home selling and buying assistance might be a very attractive benefit for a talented healthcare professional who is considering a relocation offer from a prospective employer. Levels of assistance in this area can vary based on position. A relocation policy with a strong communication plan will clearly define and describe the exceptional value that this benefit provides to new hires.

What are Self-Service Relocation Program Models?

Self-service relocation models include lump sum and managed cap programs. The point is that employees direct their own relocation process. The difference between lump sum and managed cap programs is whether the employee or the RMC manages the relocation process.

Lump Sum Program

In a lump sum program, companies provide employees with an allocated lump sum payment and let the employee choose their relocation providers and process. Some Relocation Management Companies (RMCs) offer programs such as a dedicated debit card where funds are electronically transferred to the employee after their expense report is audited. The employee has immediate access 24/7/365 via ATMs and point-of sale retailers nationwide. In addition, funds can also be electronically transferred from the card to their personal checking account.

The success of a lump sum program rests solely upon the relocating employee. They do not have the benefit of expert guidance and counseling that an RMC can provide.

Managed Cap Program

In a managed cap program, companies provide employees a specific amount of funds to spend. Employees benefit from the support services offered by the RMC. These services include policy counseling to the employee on the best allocation of their funds when choosing from an array of relocation services. In addition, they receive guidance on the taxation of particular components, saving the company a FICA tax match and gross-up on particular benefits, such as the household goods shipment and final move trip.

A managed cap program contributes to fewer budget overages and higher satisfaction levels than the lump-sum option, maximizing the benefit for both the company and the employee. Consider tiered policies by level, under a managed cap methodology. This will inherently produce greater efficiencies than other relocation program models, provide employees choice, enhance quality, and contain costs.

Healthcare Industry Talent Recruiting Trends

According to Healthcare Source’s Healthcare Talent Management Trends for 2018, healthcare companies increasingly face skilled labor shortages in several employment fields. The aging population leads to increasing demand for healthcare talent. Also, the number of retiring healthcare professionals leads to a declining talent pool, creating a gap. Traditional employment recruiting strategies are not effective in closing the talent gap. Healthcare companies can attract employees by offering relocation programs with attractive benefits.

Leveraging Relocation Program Models to Attract Healthcare Talent

Most healthcare companies report a willingness to pay for relocation. In order to get the best results from their talent recruiting efforts, healthcare companies should promote their relocation program as a highly valuable benefit. This will help the company attract and retain talent that is looking for assignments in new locations.

Communicating their interest in attracting new hires and their willingness to help employees during their relocation process helps strengthen and broaden a healthcare company’s employer branding efforts. Many healthcare companies are investing significantly in building their employer brands to attract and engage top quality talent. A well-defined and attractive relocation program that follows industry best practices tells prospective employees the company is an employer of choice within the industry.

Healthcare talent acquisition programs must attract a variety of new hires, with many different skill levels. Offering a combination of traditional and managed cap programming models, along with a tiered policy approach, provides healthcare companies with a wide range of options to attract new hires.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts have helped thousands of our clients develop relocation program models that attract and retain qualified employees. Our team can help your healthcare company by using industry best practices to design a relocation program that combines traditional and managed cap models within a tiered policy to provide the widest range of options, increasing your company’s ability to attract and retain new employees.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your healthcare company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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What are the Best States Overall?

The Iowa State Capitol at Night.

What are the best states overall? This very subjective question depends on so many factors, many of which are more important to some people than others. Traveling across the US, it is easy to see that some states excel in certain areas, while other states excel in other areas. Which factors can be used to create a comparative ranking, and should importance to residents be a weighting factor?

US News & World Report and McKinsey & Company’s Best States Overall Ranking focuses on eight major ranking metrics. Of these eight major metrics, the most heavily weighted are health care and education, as these were found to be the most important to people.

Health Care

This category focuses on access to health providers, affordability, quality of care, and health outcomes.

Education

Education for students from preschool to high school, as well as different levels of higher education. Topics such as Common Core requirements and charter schools also impact this category.

Economy

Economic measures include job growth, unemployment rates, GDP growth, migration into states, new business creation, and number of patents applied for and granted (indicative of future growth).

Opportunity

Fair housing, poverty levels, and equal access to jobs and housing for minorities, women, and people with disabilities are among the criteria included in this category.

Infrastructure

Major considerations in this category include the use of renewable energy, as well as the quality of broadband access, transportation, roads, bridges, highways, and tunnels.

Crime & Corrections

This category focuses on public safety measures, rates of violent crimes and property crimes, incarceration rates, and management of prison systems.

Fiscal Stability

State government fiscal stability ensures the success of government-sponsored programs that impact residents. Provision of services such as public education, public pension liabilities, budgetary measures, and other state-level social and public programs all serve as indicators of a state’s fiscal health.

Quality of Life

Clean air and clean drinking water impact resident’s quality of life. Additionally, social support in a community impacts resident quality of life in that they are happier and have greater physical and mental health.

What are the Top 10 Best States Overall?

While each state’s measurements in the eight major ranking metrics vary, the rankings indicate the following top 10 Best Overall States:

  1. Iowa
  2. Minnesota
  3. Utah
  4. North Dakota
  5. New Hampshire
  6. Washington
  7. Nebraska
  8. Massachusetts
  9. Vermont
  10. Colorado

Destination Spotlights

Want to learn more about these states? Global Mobility Solutions (GMS) has a wide range of North America destination spotlights which highlight information useful to clients considering relocation programs, and to transferees as they consider assignments in new locations. Our team has published many in-depth destination spotlights including several for Global locations, and you can also Request a Spotlight.

Conclusion

Thoroughly researching a North America destination to learn about the location, employment statistics, major employers, and cultural highlights is critical to relocation success. The North America relocation experts at Global Mobility Solutions (GMS) have the knowledge and expertise to help your company understand how to review the best states overall ranking.

Our experts can also help your company determine how the ranking metrics relate to your company’s relocation program and transferee’s needs, so you can offer your employees the best relocation experience. Contact our team of experts to discuss your North America relocation destination, or call us at 800.617.1904 or 480.922.0700 today.

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The Rise in Short Term Assignments in Healthcare

Cheerful mid adult Asian nurse stands confidently in doctor's office or hospital. She has her arms crossed.

One of the ways healthcare companies adjust to the challenge of hiring and keeping employees who are talented and have extensive skill sets is through short term assignments. By structuring their employment needs to provide relocation opportunities, many healthcare companies have been able to attract highly qualified candidates who want to travel to new locations on a regular basis with short term assignments. Healthcare companies can benefit from a relocation policy to provide candidates who desire these positions with several programs that give them helpful options for successful relocations.

Short Term Assignments

Many healthcare professionals prefer short term assignments, and find the adventure and opportunity exciting and fulfilling. Several segments of healthcare employment now utilize short term assignments, which can last from a few days to several weeks, with the majority falling into a four to eight week timeframe. Additionally, many of these short term assignments offer a wide range of benefits including competitive pay and a variety of locations. Healthcare professionals who flourish in these roles are comfortable with a great deal of flexibility, have a positive attitude, and exhibit a high level of excellence in the performance of their duties.

Professional and Personal Development

Challenging roles in short term assignments can range from covering during a staff shortage, to assisting with Electronic Medical Record (EMR) conversions. In accepting these positions, the healthcare professional expands their knowledge and skill sets, and often become topical experts in the field. This in turn helps increase their professional growth and marketability within their field. Also, working short term assignments helps healthcare professionals grow personally. Being open-minded and staying calm under pressure increases adaptability to challenges and promotes quick thinking and decision making skills.

Career Resources

Healthcare Traveler, a part of the Modern Medicine network, provides information, career resources, and job listings for qualified candidates interested in short term assignments. Visitors can search job listings by keywords including title, skills, or company, and by location, so they can find a number of matches for which they may be qualified. For example, searching for a specific position within a city might return listings from the local network or the national network. This service provides an extremely valuable resource for candidates seeking short term assignment opportunities in specific locations.

Housing Options

In addition to career resources designed for short term assignments, several short term housing networks provide healthcare professionals with a wide range of housing options to match their short term durations. The proliferation of home sharing services give short term assignees the flexibility of short term housing that is already set up with furniture, fixtures, home goods, and utilities ready for immediate use. Other helpful resources include Home Away, Vacation Rental by Owner, Craigslist, Zillow, Trulia, Apartments.com, local realtors, and networks of friends who can provide good referrals to short term housing options. Healthcare companies should provide quick and easy access to a network of short term living and corporate housing options for short term assignments.

Short Term Assignment Benefits

There are many distinct benefits that health care companies provide to their employees who choose short term assignments in healthcare as their preferred career option:

  • High levels of pay reflective of the critical need for highly skilled short term assignees
  • Healthcare starting on Day One to prevent lapse of insurance coverage
  • TeleDoc which allows for treatment and prescriptions over the phone during travel
  • Vision Insurance
  • Dental Insurance
  • Retirement Benefits with eligibility on Day One
  • Employee Assistance Programs
  • Insurance for Life, Accidental Death, and Disability

Conclusion

Global Mobility Solutions’ team of corporate relocation experts have helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your healthcare company by using industry best practices to design a relocation program that works well for short term assignments, while effectively communicating your company’s value proposition in the healthcare industry.

Contact our experts online to discuss your healthcare company’s short term assignment relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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What are the 2018 North America Relocation Trends?

Family With Children And Pet Dog Outside House On Moving Day

What are the major 2018 North America relocation trends shaping the industry? Employee relocation and workforce mobility continue to rise in importance for companies looking for growth. Technology allows employees to work anytime, anywhere, whether traveling for business, or from a remote work location.

Our team of North America relocation experts have identified four key trends that are shaping 2018 North America Relocation.

2018 North America Relocation Trends

Employee Expectations

Many companies respond to employee expectations for relocation assignments. New assignments can provide career opportunities, learning, and growth. Some companies proactively offer incoming employees incentives to locate in other areas that best meets their needs and wants. For companies to grow and succeed, challenging and rewarding relocation assignments are necessary and provide great incentives for employees whether it be global or North America relocation.

Reasons for Moving

Simply Self Storage’s survey notes several moving industry statistics, with 10.8% of respondents indicating “new job/transfer” as their main reason for moving. However, other employment-related reasons for moving include “easier commute” and “other job-related reasons”. These three reasons combine to account for 18% of the reasons for moving. Companies recognize this impact on employees and respond with various programs to promote employee satisfaction and increase home-work-life balance.

Costs

Relocation often is in response to several factors. Of the factors that are location-specific, housing costs and taxes are often cited as both the reason for employees to move away from one area and to move to another area. Companies are responding to cost pressures in their relocation programs as well. Companies understand their ability to draw talent is dependent on providing opportunities for good quality of life for employees.

Talent Mobility Management

Companies in North America compete in a global marketplace. Greater opportunities are available, but include greater challenges in deploying talent to succeed. Mobilizing employees who know the business and understand its future drives relocation trends. Political considerations are another factor for companies looking to open a facility and in turn relocate employees to open and run the new facility. Building a company that provides career growth and professional development opportunities will allow companies to attract and retain top talent.

Conclusion

Thoroughly reviewing your North America relocation policy and benchmarking to industry best practices is imperative. This keeps your company at the forefront of your industry peers, reinforces employee satisfaction, and promotes successful relocations. The North America relocation experts at Global Mobility Solutions (GMS) have the knowledge and expertise to help your company remain at the forefront of 2018 North America relocation trends, and offer your employees the best relocation experience.

Contact our team of experts to discuss your North America relocation policy needs, or call us at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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What are the Best Places to Find a Job in the USA?

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Cropped shot of an attractive young businesswoman working in a modern office with her colleagues in the background

What are the best places to find a job in the USA? Graduates, current employees looking to advance their career, new entrants to the job market, and those returning to the job market constantly ask this question. Any consideration of best places to find a job in the USA is subject to several interpretations. For example, one job market may have many openings, but the skills required for the positions might be unique to a particular industry such as agriculture or petroleum refining. Many of the best places to find a job in the USA feature a wide range of employers and industries, so employment prospects are positive for most job seekers.

WalletHub’s examination of the 2018 job market in the USA notes several exciting and thriving places that certainly deserve to be in a list of best places to find a job. The team at WalletHub compared twenty-six indicators of job market vitality across more than 180 cities to create their list of the best places to find a job. Below are the top 10 best places for 2018 according to WalletHub:

Top 10 Best Places to Find a Job in the USA

  1. Chandler AZ
  2. Scottsdale AZ
  3. San Francisco CA
  4. Peoria AZ
  5. Gilbert AZ
  6. Plano TX
  7. Portland ME
  8. Irvine CA
  9. Madison WI
  10. Boston MA

Number 1 Best Place to Find a Job: Chandler AZ

Chandler is a city located in Maricopa County, Arizona. It is a suburb of Phoenix, and is situated south of Tempe, East of Phoenix, and West of Gilbert. The city of Chandler started life as a ranch owned by Dr. Alexander John Chandler, the first veterinary surgeon in Arizona. The townsite office opened on May 17, 1912. As recently as 1980, the population had grown to 30,000. However, with continuing population growth and expanding manufacturing, Chandler currently has a population of approximately 260,000.

Chandler is noted for its annual Ostrich Festival, celebrating the early 1900’s history of ostrich farms in the area which supplied plumes for women’s fashion and hats during that timeframe. The Chandler Center for the Arts is a 1,500-seat regional performing arts venue known for Broadway shows, musical performances, dance, theater, and family events. The city also is home of the Arizona Railway Museum and features free admission and several events including Chuck Wagon Cookoffs, Dinner in the Diner, Open Houses, and specialty excursions.

The McCullough-Price House, a 1938 Pueblo Revival-style home, was donated to the city by the Price-Propstra family in 2001. The city renovated and opened it to the public in 2007. On June 12, 2009, the McCullough-Price House was added to the National Register of Historic Places. Currently, the city has awarded a contract for the design and construction of a new museum building to be connected to the structure, which will then become the new Chandler Museum.

Leading employers in Chandler include the following companies, several of which are leaders within their respective industries:

Leading Employers

Destination Spotlights

Global Mobility Solutions has several Destination Spotlights that provide information on North America locations as well as Global locations. The Phoenix Spotlight includes information about the city and the metropolitan area. Our team has published several other Destination Spotlights and you can also Request a Destination Spotlight.

Conclusion

Thoroughly researching a North America destination to learn about the location, employment statistics, major employers, and cultural highlights is critical to relocation success. The North America relocation experts at Global Mobility Solutions (GMS) have the knowledge and expertise to help your company understand 2018 North America relocation trends, and offer your employees the best relocation experience.

Contact our team of experts to discuss your North America relocation destination, or call us at 800.617.1904 or 480.922.0700 today.

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Human Resources Innovation and Talent Management

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Group of young people employee workers with computer in startup studio - Human resource business and teamwork concept on laptop working time - Start up entrepreneurs at office - Teal and orange filter

How does human resources innovation impact talent management? Human Resources is central to a company’s ability to attract, keep, and manage talent. In the current work economy, with technology driving so much change in company processes, human resources innovation might include new and varied ways to promote communication on a local and global level. This ensures employees remain fully engaged and informed wherever their current assignment may be.

Technological Advances

Technological advances that promote greater communication include video conferencing and social media engagement. On the employee-specific level, personal recognition including rewards for health and wellness efforts, social responsibility programs, and fostering creative cultures.

Talent Management in Human Resources Innovation

Talent Management can leverage Human Resources innovation by embracing technology. Additionally, it can utilize new thinking regarding what companies need to do to attract and retain talent. In some cases, technology can be used to help employees manage their own work processes, styles, education, and times that result in greater collaboration and employee satisfaction. Companies should provide employees access to several helpful online resources and guides for education.

For example, the Clinical Psychology Education Guide, Online Counseling Programs, and the Online Counseling Degree Guide all provide extensive information that employees can use to further their educational pursuits. The focus on talent management might improve with a new initiative on allowing employees to manage themselves.

Those employees interested in earning their MBA in Human Resources can easily find several resources for an Online MBA in Human Resources. Online education is gaining in popularity due to its ease of access and flexibility for scheduling. Financing MBA education options and descriptive guides to taking the Graduate Management Admission Test (GMAT) help employees determine how best to proceed with their future education.

Workforce Mobility and Employee Relocation

Workforce mobility and employee relocation also benefit from human resources innovation. Transferees are more likely to accept assignments knowing they have a wealth of technological resources, programs, and support for themselves and their families to assist in their relocation. Leading relocation technology that can be used anytime, anywhere provide a direct link from the company to the transferee. The technology promotes communication and provides employees with ease of mind regarding the challenges they face during their relocation.

Future of Human Resources Innovation

The 2017 Deloitte Global Human Capital Trends report notes the future of work is in the augmented workforce. This refers to reinventing jobs due to artificial intelligence (AI), robotics, and cognitive tools. These tools are growing in use and sophistication. This fundamental shift in the future of work will lead employers to focus more heavily on the role of human skills, the customer and employee experiences, and redefining the employment value proposition—what they offer employees and why employees would want to remain with the company. Companies can utilize an augmented workforce approach with their relocation programs to create unique and creative assignments for transferees. Relocation assignments that focus on new technology will help both the company and the employee learn and grow successfully.

Conclusion

The corporate relocation experts at Global Mobility Solutions (GMS) have the knowledge and expertise to help your company manage its talent and provide your employees the best relocation experience. Contact our team of experts to discuss how we can help your talent management and employee relocation process, request a demonstration of our relocation technology, or call us directly at 800.617.1904 or 480.922.0700 today.

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What Does the US Rental Market Look Like for 2018?

Omaha downtown skyline during Autumn, with a lake at the Heartland of America Park in the foreground

Employers with plans to relocate employees either to US cities or between two different US cities should be aware that the US rental market continues to experience rent increases outpacing the rate of overall national inflation. However, each rental market is unique. The number of units, state and local economics, and even natural disasters all impact rental rates. A regular review of the state of the US Rental Market can uncover opportunities for transferees to consider new assignments as rental market affordability increases.

On a national basis, rents are 2.8% higher, outpacing the current 2.2% overall rate of inflation, and the average hourly earnings rate of 2.5% over the past 12 months, according to an analysis prepared by online rental marketplace ApartmentList.com.

US Rental Market Areas with Rising Rents

The fastest rent growth in the US continues to be in the city of Sacramento, California, with an increase of 9.3% over the past year. Why is Sacramento experiencing high rents? Several factors are at work, including job growth, low inventory of rental units, and the influx of other California residents from the Bay Area who are seeking lower costs in Sacramento.

The US rental market imbalance in this region of California is threatening to displace thousands of low-income Sacramento residents. The solution to Sacramento’s rising rents may lie with other cities such as San Jose and San Francisco, which have effectively priced residents out of their markets due to low inventory and soaring rents.

Following Sacramento in the rising rent category are Vancouver, Washington at 7.9 % and Orlando, Florida at 6.8%, due to increasing job growth and an ever-expanding population.

US Rental Market Areas with Declining Rents

The largest decline in rents is occurring in Anchorage, Alaska, with rents declining by 1.7% over the past year. There are several reasons for the declining rents, with the greatest impact due to an economy in recession that is causing significant job losses. There is also much uncertainty over issues and changes in Alaska’s state government based in Juneau, creating further instability in the Anchorage job market.

Following Anchorage in the declining rent category is Portland, Oregon at 3.5%; however, this decline in Portland’s booming market is due mostly to a large amount of new construction, fostering competition for renters and driving US rental market rents downward.

Conclusion

The relocation experts at Global Mobility Solutions (GMS) have helped thousands of our clients manage relocation both to and within the US. We have the knowledge and expertise to help your company determine the best plan forward as the US rental market continues to experience increases in some cities and declines in other cities.

Contact our team of experts online to discuss how we can help your company’s relocation plans and the US rental market, or call us directly at 800.617.1904 or 480.922.0700 today.

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Relocation Models for 5 Major Industries

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Traditional vs. Lump Sum Relocation Programs

Which is best model for your company?

There is more than one way to get your relocating employees to their new assignments. Many companies opt for either a traditional relocation program, a lump sum/managed cap program, or a combination of the two, depending on the position of the transferee and other special circumstances.

What are the Differences?

With a lump sum or managed cap model, relocating employees are given a pre-determined amount of money to cover all aspects of their move. From the shipping of goods to temporary housing, the transferees are responsible for researching and obtaining all the services needed to get them to their new destinations. There is no tracking or reporting available to HR or finance departments to let them know whether their relocation policies are too generous, costing the company more money than necessary to relocate their employees, or too limited, forcing transferees to pay out of pocket unnecessarily. This approach leaves the entire move is managed by the transferees, many who might not have any prior moving experience.

Conversely, a traditional relocation model is managed by a relocation management company (RMC). The RMC coordinates everything for the transferees. This includes, but is not limited to, home selling, household goods movement, temporary living, and home purchasing. The RMC sets up the various services with reputable, vetted network partners. Since the RMCs use direct billing back to the client companies, the transferees rarely have to open their wallets. HR and finance departments receive detailed expense reports from the RMCs that capture all the costs related to relocating their transferees.

Based on comprehensive relocation surveys, here are findings of how companies in five different industries utilize either traditional, managed cap/lump sum, or a combination of these relocation programs:

Relocation Models by Industry: Energy, Healthcare/Medical, Manufacturing, Retail, Technology

The figures above illustrate that across all the industries in this survey, traditional relocation programs are used more frequently than lump sum or managed cap programs. However, in all the industries, there is a large percentage of companies that utilize a combined approach. A best practice consideration is to adopt a combination of traditional and managed cap relocation models.

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Global Mobility Solutions, an innovative leader in corporate relocations since 1987, can analyze and create mobility management programs customized for your unique needs. Additionally, we have compiled benchmarking studies and relocation best practices for numerous industries. To learn more about what type of relocation model would fit best with your company, get the full relocation benchmarking study for your specific industry:

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50 U.S. Cities with the Most New Jobs

Portland Oregon in spring. A snow covered Mt hood in the background

Big opportunities in relatively small towns. 

With unemployment near a ten-year low and new jobs surpassing monthly expectations, one might be wondering, “Where are all of these opportunities, what are the 50 US cities with the most jobs?”

In an article for msn.com this July, writer Michael B. Sauter composed a comprehensive list of the top 50 cities for job growth in the United States. The data was tracked from 2012 through 2017 and details the percentage of employment increase, the number of new jobs, the industry (excluding agriculture) contributing most to the growth in opportunities, as well as other key factors.

The top ten cities experienced job growth from 18% to over 30%. Here is a sampling of the top ten cities from Mr. Sauter’s article:

TOP-GROWTH-CITIES-2012-2017

Not surprising, early 50% of the cities on the comprehensive list were from states that have the highest inbound relocation activity1. Fort Myers, FL earned the number one spot on a list of the top U.S. cities for relocation, as posted by US News & World Report.

 

Modern Mobility Made Easy™

What this means for you and your relocating employees

 

Global Mobility Solutions (GMS) has destination spotlights for many of the cities mentioned in the overall list. These spotlights contain information about a city’s climate, geography, transportation, entertainment, culture, sports, schools, and more. GMS spotlights are great tools for helping mobility managers explain the benefits of a relocation assignment and for transferees to become accustomed to an area before actually moving there.

Destination-Spotlights-Button

  1. Miami Herald, January 5, 2017
Accessibility by WAH

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