Category: United States Economy

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Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Job Market Job Seekers Labor Force United States Economy

Federal Agency Relocation to Move Jobs Outside the Beltway

A new Bill sponsored by two United States Senators will result in federal agency relocation outside of the Washington, D.C. beltway area. The Bill calls for enactment of the “Helping Infrastructure Restore the Economy (HIRE) Act.” One goal of the HIRE Act is to help certain areas of the country build necessary infrastructure. As a result, this will support future economic growth. Another goal of the HIRE Act is to provide access to good jobs for a greater number of Americans throughout the nation. Several states will see an influx of high paying jobs to economically distressed areas.

The HIRE Act will move policymakers directly into communities impacted by their policies. This should help them see how policies their agency creates affect local areas outside of the beltway. There may also be long term savings for the agencies in a number of other areas including labor, maintenance, and energy costs.

Federal Agency Relocation: The Bill and its Sponsors

Bill:

Helping Infrastructure Restore the Economy (HIRE) Act

Requires federal agency relocation for headquarters and permanent duty stations of its employees.

Sponsors:

Senator Josh Hawley, Missouri

Senator Marsha Blackburn, Tennessee

Ten Agencies Subject to the HIRE Act

The HIRE Act identifies ten federal agencies that may be subject to relocation:

The Departments of

  1. Agriculture
  2. Commerce
  3. Education
  4. Energy
  5. Health and Human Services
  6. Housing and Urban Development
  7. Interior
  8. Labor
  9. Transportation
  10. Veterans Affairs

Ten States Stand to Benefit from Federal Agency Relocation

The HIRE Act identifies ten states with significant economic distress over the past decade:

  1. Indiana
  2. Kentucky
  3. Michigan
  4. Missouri
  5. New Mexico
  6. Ohio
  7. Pennsylvania
  8. South Carolina
  9. Tennessee
  10. West Virginia

Of these ten states, eight share borders and are situated in the Midwestern region of the country. South Carolina is located along the Southeastern coast, and New Mexico is located in the Southwest.

Economically Distressed Areas Defined

The HIRE Act defines the criteria that will determine economic distress. These criteria are further segmented into “Priority Criteria” and “Secondary Criteria.”

Priority Criteria include low rates of education, workforce participation, and income. Poverty rates and housing vacancies are also in this criteria.

Secondary Criteria include current infrastructure, ability to expand infrastructure, and the size of the local workforce.

Additional Points for Federal Agency Relocation

Further to the criteria that determines economic distress, the HIRE Act includes a specific limitation:

  • No location may be within 30 miles of a city with over 800,000 residents

The HIRE Act requires the relocation proposal to focus on as small a geographic size as possible. For example, within the state of Indiana, “southern Indiana” would most likely be considered too large a geographic size. However, the town of Lyons in Greene County may qualify.

Federal Agency Relocation Example: Lyons, Indiana

Economically Distressed Area

Lyons has a “Distress Score” of 123.23, the highest such score in Indiana. Lyons is about 87 miles from Indianapolis, IN; 260 miles from Chicago, IL; and 95 miles from Evansville, IN. However, Lyons is only about 50 miles from Terre Haute, IN (60,000 residents). Lyons is also about 50 miles from Bloomington, IN (85,000 residents). As a result, there are two cities of substantial size within less than an hour’s drive for residents of Lyons. Lyons appears to meet the geographic limitation of the HIRE Act.

Workforce and Infrastructure

While Lyons’ population is approximately 700 residents, Greene County has about 32,000 residents. Lyons is also near two major Interstate Highways: I-70 is to the north, and I-69 is to the south. U.S. Highways 150 and 231 are also nearby. The county’s workforce size may suffice for federal agency relocation. Depending on the definition of infrastructure, highways and airports near Lyons may also meet the HIRE Act’s criteria.

Opportunity to Double the Impact of a Federal Agency Relocation

The town of Switz City has a “Distress Score” of 120.97, the second highest such score in the state. Switz City is located only about 4 miles from Lyons. Federal Agency Relocation to Greene County Indiana near or between the towns of Lyons and Switz City initially seems possible. A federal agency setting its headquarters and job location for employees in this area would have a positive economic impact on the two towns in the state of Indiana with the highest Distress Scores. The HIRE Act notes that Health and Human Services would relocate to Indiana. This federal agency relocation could result in the move of thousands of employees to this region.

What Should Employers do?

Employers in the ten states identified as economically distressed by the HIRE Act should expect a rise in demand for workers due to federal agency relocation. Companies should examine their corporate growth initiatives to ensure they can remain competitive as the local labor market changes.

Companies that interact with federal agencies in their current location should review their relocation programs. Employers may need to consider relocation for employees to be near the agency’s new headquarters location.

Industry Benchmarking Studies Help Employers Compare Their Relocation Program

GMS has recently published several Industry Benchmarking Studies to help employers learn whether their company’s relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking.

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 about how the relocation industry is evolving to meet increased employee demands.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to respond to labor and economic market forces such as federal agency relocation. Our team can help your company by using industry best practices to design your relocation program.

GMS was the first relocation company to register as a .com, 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.

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 company’s interest in learning more about federal agency relocation due to the HIRE Act and its impact on local areas and labor markets, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Corporate Relocation Corporate relocation tips Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Household Goods United States Economy

Tri-State Regional Economy May Encourage Relocation Opportunities

The tri-state regional economy encompassing New York, Connecticut, and New Jersey may encourage future relocation opportunities. This area includes large swaths of southeastern New York, as well as parts of the Hudson River Valley. It also includes the western end of Long Island, northern New Jersey, and southwestern Connecticut.

This large and dynamic metropolitan area accounts for nearly 10% of the United States entire Gross Domestic Product (GDP). Within the state of New York, the city of New York serves as the center of activity. As a result, commuting patterns across the area reflect the draw of New York City as an engine of job growth.

Tri-State Regional Economy: Industries

Several industries maintain a major global presence in New York City and throughout the metropolitan region, including:

Annually, the overall tri-state regional economy produces goods and services valued at $1.5 trillion. This is more than most other nations, placing this region within the world’s twenty largest economies.

Tri-State Regional Economy: Housing

The cost of living in New York City is 148% of the US average, making it the most expensive. The largest component of this cost of living is the cost of housing. Demand for housing near employment centers tends to drive up its cost. The tri-state regional economy reflects significant differences in housing costs. These costs often vary widely based on several factors including proximity to New York City, access to transportation networks, variety and availability of the local housing stock, amount of household goods to move, local neighborhood amenities, and overall desirability of the location.

Median Home Values (reported by Zillow/October 2019)

New York City/Manhattan: $1,190,800

Hudson River Valley/Sleepy Hollow: $730,800

Western Long Island/Hempstead: $375,300

Northern New Jersey/Englewood: $381,200

Southwestern Connecticut/Stamford: $284,800

Apartment Rents (reported by RentCafe/October 2019)

New York City/Manhattan: $4,336

Hudson River Valley/Sleepy Hollow: $2,046

Western Long Island/ Hempstead: $1,877

Northern New Jersey/Englewood: $2,322

Southwestern Connecticut/Stamford: $2,459

Industry Growth Leads to Outsize Commuting Patterns

The tri-state regional economy is highly diverse. This diversity benefits the area’s overall growth, as job seekers can easily find opportunities. Commuting patterns reflect the status of New York City as the region’s engine for jobs. The state of New York taxes income that commuters from New Jersey and Connecticut make from jobs they hold in New York. As a result, the New York state government gains significantly more tax revenue.

Nonresidents account for approximately 15% of total income taxes owed to New York, in the amount of $6.2 billion. Of this $6.2 Billion:

  • New Jersey residents account for $3.1 Billion, 50% of the total
  • Connecticut residents account for $1.2 Billion, nearly 20% of the total

Financial Impact on Commuters in the Tri-State Regional Economy

Due to differences in tax rates and other factors, the financial impact on commuters into New York may be difficult to discern. Some states give credit for taxes paid to other jurisdictions. However, the state of New York does not offer any credit for commuters.

New York City generates a large number of high-paying jobs, and wages for many occupations are higher in the city than elsewhere around the tri-state regional economy. Residents in New Jersey and Connecticut who obtain jobs in New York City may initially look at the cost of a train ticket or a few added toll costs as their only additional expense. However, the true costs may include:

Direct Costs

  • Parking costs at transportation system lots
  • Train, subway, or bus ticket costs
  • Car maintenance costs for driving to lots or into the city
  • Toll costs
  • Automobile insurance costs
  • Extra tax liability to New York State government
  • Extra tax liability to New York City government
  • Higher costs for food and drinks purchased in New York City
  • Increased taxes on goods purchased in New York City
  • Higher costs for employee’s share of employer-provided benefits

Indirect Costs

  • Loss of time for family and social obligations due to increased length of commute
  • Increased exposure to occupational stress factors such as crowds and noise
  • Higher tendency to develop stress-related illness

Some estimates of the true costs of commuting indicate a cost of $795 or more for each mile someone lives from their job. Assuming someone’s job is at 14 Penn Plaza, 225 West 24th Street, in New York City, estimates from these locations following the fastest route using Google maps might indicate the following:

New York City/Manhattan: 2.9 miles, $2,305.50

Hudson River Valley/Sleepy Hollow: 28.8 miles, $22,896.00

Western Long Island/Hempstead: 27.3 miles, $21,703.50

Northern New Jersey/Englewood: 14.7 miles, $11,686.50

Southwestern Connecticut/Stamford: 40.5 miles, $32,197.50

Relocation Opportunities in the Tri-State Regional Economy

Relocation Outside the Region

Employers that have large numbers of workers who commute into New York City should determine if the company can benefit from relocation. Advances in technology permit many functions to be easily and seamlessly performed regardless of location. Many firms based in New York City or that have significant operations there have embarked on similar initiatives, hoping to leverage technology while reducing costs. Relocation may include global destinations such as the country of Poland or domestic destinations such as Salt Lake City, Utah.

Relocation Within the Region

Even within the tri-state regional economy, relocation might be local in nature. It may include moving corporate functions from New York City to New Jersey or Connecticut. Alternatively, it may include moving those functions from these states to New York City. For example, Diageo is relocating from Norwalk, Connecticut, to New York City, to help the firm find a stronger base of employees with marketing talent. Wright Investors’ Service is relocating from Greenwich, Connecticut, to Shelton, Connecticut, because many of the firm’s employees live in that area and the move will help the company reduce long in-state commuting patterns. Credibility Capital relocated from New York City to Newark, New Jersey with the aid of a significant state incentive in the amount of $6.5 million.

What Should Employers do About the Tri-State Regional Economy?

Companies in the tri-state regional economy should examine their need to maintain operations in a specific location. For example, some companies have operations that function in a distinct location such as the New York Stock Exchange. There may be opportunities to utilize relocation for operations that support the positions that remain tied to this location. As a result, both the organization and many employees may benefit from reduced direct and indirect costs related to commuting patterns

Companies should also work with a qualified and experienced Relocation Management Company (RMC). RMCs can help companies design a robust talent acquisition program. Also, RMCs can help a company design an industry-leading relocation program that will give them a competitive advantage in the market for highly skilled employees.

Industry Benchmarking Studies Help Employers Compare Their Relocation Program

GMS has recently published several Industry Benchmarking Studies to help employers 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 their relocation program compares to those offered by competitors in their specific industry.

Companies that relocate to gain access to a base of talent with knowledge and skills should review their relocation program to ensure that at a minimum it matches what competitors provide. RMCs may provide specific recommendations to help the company’s relocation program excel in talent acquisition based on specific industry practices.

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 about how the relocation industry is evolving to meet increased employee demands. Importantly, it will also include a review of commuting costs and patterns in the tri-state regional economy.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to leverage relocation in the tri-state regional economy to gain benefits, reduce costs, and attract and retain talent. Our team can help your company by using industry best practices to design your relocation program. This will increase your company’s ability to attract and retain new employees.

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.

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 company’s interest in learning more about relocation opportunities in the tri-state regional economy, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Job Market Job Seekers United States Economy

What are the 2019 Fastest Growing Industries in the US?

What are the 2019 fastest growing industries in the US? US economic growth continues its strong pace, with 3rd Quarter 2019 Gross Domestic Product (GDP) increasing by 1.9%. This follows the 2nd Quarter GDP growth of 2.0%. The United States Department of Commerce Bureau of Economic Analysis attributes this growth to several factors, including:

  • Exports
  • Federal Government Spending
  • Personal Consumption/Consumer Spending
  • Residential Fixed Investment
  • State and Local Government Spending

Several industries act as growth engines for the US economy. The 2019 fastest growing industries in the US reflect the impact of technology as well as broad social trends. IbisWorld reports that the top 10 as measured by revenue growth include:

Consumer Market

  • Massage Business Franchises
  • Social Networking Platforms

Energy

  • Solar Power Installation and Production
  • Wind Turbine Installation

Finance

  • Online Mortgage Brokers
  • Peer-to-Peer Lending Platforms

Manufacturing

  • Automated Guided Vehicle Manufacturing

Medical

  • Medical and Recreational Marijuana Farms
  • Recreational and Medical Marijuana Retail Stores
  • Telehealth Services

What Trends Drive the 2019 Fastest Growing Industries?

Several trends drive the 2019 fastest growing industries. The “Fourth Industrial Revolution” reflects the impact on systems of a digital transformation. As a result, this transformation is changing work, jobs, and economies at an increasing pace. This revolution fuses technologies across biological, digital, and physical spheres.

Highlight on Automated Guided Vehicle Manufacturing

Automated guided vehicles (AGVs) are vehicles used in industrial settings to move materials or perform tasks. Computers guide these autonomous vehicles, not humans, and they derive power from a battery or electric motor. Typical applications include carrying heavy loads, towing loads across warehouse floors, and fork lifting materials or pallets.

The top 20 AGV manufacturers include several with US locations, such as:

Dematic (Atlanta, GA)

Hyster & Yale (Cleveland, OH)

JBT (Chicago, IL)

Konecranes (Springfield, OH)

Kuka Assembly and Test Corporation (Saginaw, MI)

Transbotics – A Scott Company (Charlotte, NC)

Universal Robots (Boston, MA-US HQ)

What Should Job Seekers do About the 2019 Fastest Growing Industries?

Job seekers should investigate the 2019 fastest growing industries opportunities. A number of resources are available to learn about jobs in the AGV Industry. Professional networks such as Linkedin often have helpful information on companies and contacts. Job seekers may want to focus on a specific location such as Charlotte or Cleveland, and then identify specific employers to target their job preferences. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

What Should Employers in the 2019 Fastest Growing Industries do?

Employers in the 2019 fastest growing 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 that has the knowledge and expertise to help them design a relocation program that promotes talent acquisition.

GMS has recently published several Industry Benchmarking Studies that will help employers in the 2019 fastest growing 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 about how the relocation industry is evolving to meet increased employee demands, especially with regard to the 2019 fastest growing industries.

Conclusion

GMS’ team of corporate 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 2019 fastest growing 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.

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 company’s recruiting, hiring, and relocation program needs as they relate to the 2019 fastest growing industries, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Global Relocation Challenges Global Relocation Trends Immigration Rules Talent Mobility United States Economy Visas and International Travel

What are the 2019 US Immigration Trends?

United States VISA in a european passport with stamps.

The 2019 US immigration trends may have a direct impact on whether companies can achieve corporate goals. Corporate success is often the direct result of its employees who have specific skills, talents, and education. Many companies benefit by drawing from a large global talent pool. According to the Migration Policy Institute, immigrants tend to be in the US labor force at higher rates compared to their representation as a percentage of the US population. Specifically, MPI’s data shows the following:

 19801990200020102017
Immigrants as share of US Labor Force6.7%9.2%12.4%16.5%17.1%
Immigrants as share of US Total Population6.2%7.9%11.1%12.9%13.7%

What are Key Facts about US Immigration Policies?

The Pew Research Center notes that approximately 34 million immigrants legally reside in the US. Current policies impacting the 2019 US immigration trends focus on two priorities:

  • Employment-based migration to the US
  • Reunification of family members separated by migration

Reform Proposal will Impact 2019 US Immigration Trends

In 2013 under the Obama administration, the US Congress considered an act to provide for comprehensive immigration reform. In 2019, the Trump administration presented a proposal to change how immigrants are admitted to the US. The proposal includes points such as:

  • Prioritization for workers with high levels of job skills
  • Eligibility increases for applicants who have:
    1. Job offers
    2. Desirable educational backgrounds
    3. The ability to speak the English language

Proposal to Reduce Immigration of Future Public Charges

The Trump administration has also sought to reduce immigration for those who will use, or are most likely to use, forms of public assistance. US immigration laws have a long history (established by Congress in 1882) of limiting immigration for those who would become a “public charge.” However, the Trump administration has pushed to expand the definition of benefits to include Medicaid, Section 8 Housing Vouchers, and the Supplemental Nutrition Assistance Program (also known as “SNAP”). The final rule was published in August 2019 and is scheduled to take effect on October 15, 2019. This may negatively impact 2019 US immigration trends.

How are 2019 US Immigration Trends Impacting Companies?

Envoy Global recently published its 2019 US Immigration Trends Report. In this report, Envoy Global notes several important points that companies are pursuing, such as:

Sending

Identifying other countries with favorable immigration policies and sending employees to those countries to work and train new employees. Alternatively, sending employees to other countries as part of a global assignment rotation system to increase employee retention and promote employee development. The impact on 2019 US immigration trends may be difficult to discern.

Simplification

Focusing on simplification of the US immigration system to help expedite the migration process.

Sponsorship

Providing immigrants with easy paths to permanent US residence in order to gain competitive advantages in talent recruitment and acquisition. This includes Green Card sponsorship as well as covering some or all of the costs for the program. This may positively impact 2019 US immigration trends.

Streamlining

Streamlining internal corporate systems relating to immigration to promote a better employee experience.

What Should Employers do About the 2019 US Immigration Trends?

Companies should continue to stay informed about US immigration system proposals. These proposals may have a significant impact on an employer’s ability to recruit and hire foreign talent. As a result, knowing what to expect can help companies strategically pivot and respond accordingly to meet corporate objectives.

Companies should also work with a qualified and experienced Relocation Management Company (RMC). RMCs can help companies design a robust talent acquisition program. Also, RMCs can help a company design an industry-leading relocation program that will give them a competitive advantage in the global market for highly skilled employees.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to develop industry-leading hiring and relocation programs that draw foreign national talent. Our team can help your company understand how to leverage 2019 US immigration trends to benefit its talent acquisition program.

GMS was the first relocation company to register as a .com, 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.

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 company’s interest in learning more about the 2019 US immigration trends, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends United States Economy

Los Angeles Housing Options for Relocating Employees: Part 3, Apartments

Los Angeles buildings with apartments in the foreground.

In part 3 of our series on Los Angeles Housing Options for relocating employees, we focus on apartments. There are many reasons why clients should encourage transferees to buy instead of rent. For those employees who are not ready or prepared to buy, renting an apartment may be helpful for several reasons.

Advantages to Renting Apartments in Los Angeles

No Maintenance and Upkeep

Renting apartments basically frees the renter from ownership responsibilities. Those who own apartments must take care of the following:

  1. Maintenance of the building
  2. Structural issues including anything that might break
  3. Upgrades to fixtures and decorating
  4. Incidentals such as light bulbs and batteries
  5. Landscaping and upkeep of grounds, yards, trees
  6. Secure access
  7. Parking areas

Access to Amenities

Many apartments are located in or near areas with direct access to desirable amenities. Renters often benefit from being near:

  1. Tennis courts
  2. Swimming pools
  3. Hot tubs
  4. Playgrounds
  5. Parks
  6. Trails for walking, hiking, biking
  7. Shopping areas

Relocating employees may benefit from renting in an area if they are unsure where to settle down. A short-term rental with a plan to buy in six months or a year offers transferees flexibility and time to further research locations for the best fit.

Rents in some markets exceed the cost of home ownership. Relocating employees who choose to rent do not build equity since they do not own the property. They also are not able to claim home mortgage interest as a deduction; this is a major benefit to those who buy homes.

Budget-Friendly Neighborhoods for Los Angeles Apartments

Several neighborhoods in Los Angeles are known for lower costs and budget-friendly rental rates on apartments. Each neighborhood is distinctly different in character and amenities, so transferees can usually find one that meets their preference.

San Fernando Valley

Lake Balboa is a district in the San Fernando Valley. The neighborhood is known for a large amount of park area including Sepulveda Basin Recreation Area, Lake Balboa, and Woodley Park. The area has many charming post-war houses in a suburban setting.

Van Nuys is a mostly residential area centrally located in the San Fernando Valley with mid-priced homes and apartments. Van Nuys Boulevard is known as a great street for shopping. Woodley Park features baseball diamonds, play areas, barbecue pits, an archery range, and cricket fields.

Close to Hills, Parks, and Mountains

Tarzana is named after Tarzan, the main character in the book “Tarzan of the Apes” by Edgar Rice Burroughs. The area is close to many parks, and offers easy access to hiking in the nearby hills. This is a quiet and suburban area located just north of the Santa Monica Mountains.

Central Los Angeles Location

Koreatown is known for its lively nightlife. It also has a wide variety of shopping malls, stores, and markets. Various architectural styles give clues to the neighborhoods history, once the center of the Golden Age of Hollywood.

Near the Pacific Ocean

San Pedro is known for having a number of locally-owned shops in town, with bakeries, butchers, and a small-town feel. It is located on the harbor, with Rancho Palos Verdes to the west, and Long Beach to the east. San Pedro is home to the Korean Bell of Friendship, given as a gift to the US by the South Korean government to symbolize friendship between the two nations.

Los Angeles neighborhoods have much to offer residents and visitors. Transferees looking for apartments should work with a Realtor® that has knowledge of the city and the market for apartments in various neighborhoods.

Expert Tips about Los Angeles Apartments

GMS spoke with Erik R. Brown of Douglas Elliman Real Estate, Realtor®, TV host, speaker, and author of “One in a Million: Everything You Need to Know to Find the Best Realtor®.” Erik agreed to share his industry knowledge and market expertise on Los Angeles housing options for relocating employees.

Erik knows that researching the particulars of a local market provides renters with the knowledge they need to be successful in their search. As Erik notes, “Moving to Los Angeles? Then you’ll want to know these top tips as you decide to make the move.” In part 3 of a 3 part series, Erik shares his 9 top tips for finding and renting apartments in Los Angeles.

Los Angeles Housing Options: Apartments

9 Top Tips for Finding and Renting Apartments in Los Angeles

1. Set your parameters.

Good process makes good business, so set the stage right to map your way to success. Since Los Angeles vacancy rates are so low and bidding wars are common, start by setting your parameters: How much do you want to spend? Try using a Rent Calculator to determine how much you want to spend on an apartment. How many bedrooms do you need? What amenities do you want?  What location is best for proximity to work and recreation?

2. Review and create realistic expectations.

Here are some good examples:

  • Expectation #1: LA is one of the most expensive cities in the US. You won’t find apartments as nice as what you are used to unless you’re moving from NY.
  • Expectation #2: You might have to buy or rent a refrigerator, washer, dryer, and in rare cases a stove.
  • Expectation #3: If you rent a single family house, you will most likely have to pay for water and all the utilities.

3. Understand looking in Los Angeles.

Los Angeles is unlike large East Coast cities where the majority of rentals are listed on a central listing system like the Multiple Listing Service (MLS). In these cities, you can work with one broker to show you what is on the market. Either the tenant pays the broker fee or the landlord does. By comparison, the majority of landlords in the current Los Angeles market advertise their property for free on the internet, without the use of a broker or MLS-type service.

4. Get to know your neighborhood options.

Los Angeles is a huge city comprised of several large and small neighborhoods. Many of these neighborhoods are actually sub-cities. Initially, getting to know them all can seem overwhelming. To help your search, do this: gear up your Google skills. Schools, safety ratings, walkability, traffic maps, local amenities, and many other lifestyle questions differ by area. Know as well that “LA traffic” is a real challenge. Having a shorter commute can make or break your daily life in Los Angeles. If you’re having trouble choosing among the more than 450 neighborhoods, contact me directly and I will send you a “Neighborhood Knowledge Checklist” I share with my clients.

5. Begin your search.

The internet is by far the most helpful resource to find apartments. Websites such as those listed below are popular for various rental types.

Rental Sites for Apartments and Homes:

www.rent.com

www.Westsiderentals.com

www.Padmapper.com

www.Craigslist.org (be careful of scams)

www.apartments.com

Rental Sites for Short Term Rentals:

https://www.plumguide.com/los-angeles/short-stay

https://zeusliving.com/

https://www.apartments.com/los-angeles-ca/short-term/

https://www.nestpick.com/los-angeles/

https://www.stayaka.com/ (luxury)

http://www.ihg.com/staybridge/hotels/us/en/reservation

http://www.extendedstayamerica.com/hotels/mn

http://www.airbnb.com

Rental Sites for Rooms:

https://www.spareroom.com/los-angeles

https://flip.lease/s/Los-Angeles

However, you should understand that many landlords in Los Angeles are “old school.” Many landlords don’t have email or own a computer. All they have to do is put a “For Rent” sign in the front yard and the place is rented within 24 hours. And that’s exactly what they do. After you have narrowed down the area you are looking in, start driving around. Be on the lookout for “For Rent” signs and start calling about apartments right away.

6. Be prepared to get your move on. 

Los Angeles tenants give 30-day notices to move out and most landlords wait until the tenant has moved out before they list the property for rent. Once a property hits the market, it rents out typically very quickly. Many times, vacancies rent within 24 hours. It typically takes under 30 days from the time a landlord lists a property to the time the new tenant moves in.

That means: be prepared to move quickly once you start looking. We cannot stress enough the importance of being prepared to apply. We deliver this message every day, over and over and over. So many unfortunate renters miss out on rentals because they had to go home, fill out an application and gather their documentation. Every landlord will ask you for the same information, so why wait to get your documentation in order? As difficult as it is finding suitable apartments, once you find the right space, you want to be 100% prepared to get it.

7. On the flip side, do not attempt to find a decent rental months in advance.

Since it can take less than 30 days to find a rental, it is nearly impossible to search in advance. If you have been looking within 30 days of your move-in date and you are down to the wire, you need to check your expectations.

8. See the place in person. 

Once you find a place you like, call or email and ask to set up a time to view it. You will likely deal directly with the property owner, on-site manager, or a management company. This is key to ensuring you will not get scammed or deceived by an online listing.

9. Speaking of…Avoid These Rental Scams.

Before signing the lease, run through these telltale signs to spot a rental scam:

  • The rent is below market rate. If it looks too good to be true, it probably is. Many times, rental scammers in Los Angeles will list a home below market and ask for a money wire transfer before they let you view the property. Although affordable rates are not a guaranteed verdict of a rental scam, it is a sign to investigate further.
  • Inability to prove ownership: A landlord who you have never met at the door, spoke with on the phone, or who has no reputable online reviews is suspicious. Be cautious when a landlord cannot provide proof of management.
  • Inaccessible landlord “Owners” who claim they cannot meet you at the property because they just left the country or they are traveling are most likely a scam. We recommend calling them directly to verify they actually exist.
  • Viewing fees: Any landlord or homeowner who requests money to view apartments is most likely running a scam. No landlord would ask for money upfront before a renter files paperwork and sees the property.

What Should Employers do?

Employers should share helpful information about apartments in Los Angeles with their relocating employees. This will help transferees and their family members learn about neighborhoods and amenities in the city. As a result, relocating employees will have valuable information to help them easily find several apartments that meet their requirements.

Employers should also provide as much information about the new location as possible. They should work with a qualified and experienced Relocation Management Company (RMC) that can provide many useful resources to assist relocating employees and their family members. Destination spotlights that highlight many aspects of a location are helpful reference materials to share with transferees during their pre-decision process. Video destination spotlights are a great resource to visually show employees and their family members their new location.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to identify and share valuable real estate and neighborhood information with transferees. Our team can help your company share helpful information on apartments in Los Angeles that will give transferees peace of mind as they go through their relocation process.

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.

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.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts. Contact our experts online to discuss your company’s need for information about apartments in Los Angeles to share with your transferees, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Job Market Job Seekers Labor Force United States Economy

What are the Top 5 Companies Creating Jobs in the US?

Handsome young man on business trip walking with his luggage and talking on cellphone at airport. Travelling businessman making phone call.

As 2019 continues to be a period of economic expansion in the US, there are a number of companies creating jobs. Growth in employment is robust across several industries. Demand for employees is high throughout much of the nation.

The Bureau of Labor Statistics Employment Situation-March 2019 news release issued on April 5, 2019 shows the following:

  • Total Nonfarm Payroll Employment increased by 196,000
  • US Unemployment Rate remained unchanged at 3.8%
  • Job gains were significant in two segments: health care, professional, and technical services

Additionally, the news release also noted that:

  • Total Nonfarm Payroll Employment for January was revised upward from +311,000 to +312,000
  • Total Nonfarm Payroll Employment for February was revised upward from +20,000 to +33,000

US Economic Expansion Helps Companies Creating Jobs

Significantly, the longest US economic expansion on record occurred from March 1991 through March 2001. The current expansionary period is set to exceed this record by the end of July 2019 if it continues growing. While there may be significant risks to the US economy, it also has room for growth. The US economic outlook is strong according to several indicators including the Gross Domestic Product (GDP), unemployment, and inflation.

Top 5 Companies Creating Jobs in the US

What are the top 5 companies that are significant job creators in the US? Several of these companies have been in the news for their corporate growth initiatives. They also benefit from advances in technology, changing industry dynamics, and pro-growth US economic policies:

  1. Apple

Apple Inc. is an American multinational technology company with headquarters in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. The company had previously announced plans to create up to 20,000 new jobs.

  1. Amazon

Amazon.com, Inc., is an American multinational technology company based in Seattle, Washington that focuses in e-commerce, cloud computing, and artificial intelligence. Amazon is the largest e-commerce marketplace and cloud computing platform in the world. Among its many investments is a plan to create 800 new jobs as it expands its technology hub in Austin, Texas.

  1. Progressive

The Progressive Corporation is an American insurance company with headquarters in Mayfield, Ohio. It is one of the largest providers of car insurance in America. The company insures motorcycles, boats, recreational vehicles (RVs), commercial vehicles, and provides home insurance. Progressive plans to hire over 10,000 new employees in 2019 at several campuses throughout the US. This company is a leader among insurance companies creating jobs.

  1. Google

Google LLC is an American multinational technology company with headquarters in Mountain View, California. It specializes in Internet-related services and products, including online advertising technologies, search engine, cloud computing, software, and hardware. Google will create tens of thousands of new jobs as it expands operations in several US states.

  1. Fiat Chrysler

Fiat Chrysler Automobiles N.V. is an Italian and American multinational corporation and is the world’s eighth largest auto maker, with main headquarters in the Netherlands, and financial headquarters in London, UK for tax purposes. The group was established in October 2014 by merging Fiat and Chrysler into a new holding company. In February 2019, Fiat Chrysler announced its intent to invest $4.5 Billion in manufacturing in Michigan. The plant is estimated to create nearly 6,500 jobs. Plans include $1.6 billion to build a Jeep factory in Detroit.

What Should Job Seekers do to Find Companies Creating Jobs?

Job seekers should investigate the top 5 companies creating jobs for opportunities. One of the largest and most successful online job listing companies, Indeed, offers a wealth of links and resources for job seekers. Professional networks such as Linkedin provide information on companies and contacts. Job seekers may want to focus on a specific location such as Detroit or Austin depending on the type of job they hope to find. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

What Should Companies Creating Jobs do?

Employers 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 during a tight labor market. Employers should work with a Relocation Management Company that has the knowledge and expertise to help them design a relocation that promotes global talent acquisition.

Conclusion

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 at any of the top 5 companies creating jobs, or any other location around the world.

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.

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 recruiting, hiring, and relocation program needs at companies creating jobs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Domestic Relocation Domestic Relocation Trends Talent Mobility United States Economy

United States Demographic Trends and Immigration Patterns

A recent report by the Economic Innovation Group describes United States demographic trends. As a result of these trends, several of the country’s cities, counties, and states experience declining population. Declining population negatively impacts economic growth in several ways:

Impacts of Declining Population

  • Housing market demand falls
    • Downward effect on home prices
  • Local government finances decline
    • Higher taxes to maintain current level of government services
    • Reduction in government services
  • Population of working age adults declines
    • Productivity falls
    • Economic opportunities stagnate
    • Reduced business startups

United States Demographic Trends: States and Territory Losing Population

According to the United States Census Bureau, nine states and one territory lost population in 2018. While the nation’s total population grew by 0.6%, the following states and territory experienced significant declines:

  • Puerto Rico: -129,848 -3.91%
  • New York: -48,510 -0.25%
  • Illinois: -45,116 -0.35%
  • West Virginia: -11,216 -0.62%
  • Louisiana: -10,840 -0.23%
  • Hawaii: -3,712 -0.26%
  • Mississippi: -3,133 -0.10%
  • Alaska: -2,348 -0.32%
  • Connecticut: -1,215, -0.03%
  • Wyoming: -1,197 -0.21%

Of particular note, Puerto Rico’s population has been declining over the past decade. However, Hurricane Maria in 2017 accelerated the population decline even during the recovery period.

Counties with Declining Population

The Economic Innovation Group reports that all states have areas with declining population. As a result of uneven population growth as well as migration patterns, the United States demographic trends from 2007 to 2017 resulted in:

  • 50% of states losing working age population
  • 43% of counties in the average state losing population
  • 76% of counties in the average state losing working age population

Possible Solution for United States Demographic Trends

There is a possible solution that might help states and counties experiencing population decline. For example, a visa program that specifically targets immigration to these places with a range of incentives might bring new residents. Highly skilled immigrants currently gravitate to leading tech centers such as San Francisco, Washington D.C., and Boston/Cambridge.

A “Heartland Visa” program as described in the Economic Innovation Group’s report might provide incentives for other areas of the country to benefit from highly skilled immigrants. Canada actively pursues immigration as a solution to temper the effects of an aging population, and to ensure future success from immigrant’s contributions. Ontario province is seeking to attract highly skilled immigrants to smaller cities and towns. A similar program might help alter United States demographic trends so that states and counties losing population could lessen its impact, if not reverse the trends.

What Should Employers do?

Employers in locations experiencing population decline due to United States demographic trends should investigate all of the current United States visa programs. They also might consider advocating for a targeted visa program with incentives that would encourage highly skilled immigrants to migrate to their specific area.

Employers should also review their talent acquisition and management programs to ensure they remain competitive to attract and retain new hires and transferees. Relocation Management Companies (RMCs) can provide expert assistance to employers to benchmark their relocation policies and add enhancements that attract talent.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company determine how to leverage United States migration patterns for talent acquisition and management.

GMS was the first relocation company to register as a .com, 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.

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.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation and visa program needs. Since United States demographic trends may result in challenging employment situations, companies should verify their relocation program supports talent acquisition. Give our experts a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Buy a Home Domestic Relocation Domestic Relocation Trends Job Market Job Seekers Talent Mobility United States Economy

United States Migration Patterns: Where are People Moving To?

United States Migration Patterns: Where are People Moving To?

A recent study by United Van Lines tracking 2018 United States migration patterns shows which states people are moving to.  According to the study, the top 5 states experiencing the highest rates of inbound migration are:

Top 5 States Growing due to United States Migration Patterns

  1. Vermont
  2. Oregon
  3. Idaho
  4. Nevada
  5. Arizona

To understand these patterns, it is best to look at a number of local as well as national trends and how these trends impact each state.

Vermont

Vermont benefits from United States migration patterns impacting employment and jobs. This state has a relatively small population compared to other states. Therefore, significant growth in employment is due mostly to people moving to the state to take new jobs or as a transferee within their company. Vermont industries experiencing exceptional growth include:

  • Renewable and Clean Energy including the highest number of solar jobs per capita in the nation
  • Tourism and Outdoor Recreation including top destinations for skiing, camping, and hiking
  • Food Processing including craft beer, cheeses, and maple products
  • Financial Services and Insurance including #1 ranking in the world for assets under management in captive insurance

Vermont is also well known for its beauty, with mountains, lakes, and four distinct seasons. The state has many pristine areas, and tourism is a significant industry. As a result, retirement is another factor driving United States migration patterns with Vermont as a choice retirement destination.

Oregon

Oregon benefits from United States migration patterns impacting employment and jobs. The state’s economy is one of the fastest-growing in the nation. This is due in part to significant job growth in the manufacturing sector including:

  • Computer and electronic products
  • Machinery
  • Primary metal

Oregon’s landscape includes mountains, lakes, rivers, forests, and waterfalls. The natural areas encourage an outdoor lifestyle, and several state parks are ideally situated for camping, hiking, biking, and boating.

Idaho

Idaho has seen growth from United States migration patterns relating to retirement. More than half of movers into the state were in the age range between 55 an 74 years old. New residents to Idaho gain access to several lifestyle features they could not have in more populated areas, including:

  • Outstanding National Parks
  • Mild climate with four seasons
  • Neighborhood walkability
  • Low cost of living
  • Educational and cultural centers

Idaho has a relatively low estimated population of 1,790,000 residents. Comparing Idaho to other states, population density is 19.8 people per square mile versus the national average of 434.9 people per square mile. New York by comparison has 419.0 people per square mile. Idaho is known for wide open spaces.

Nevada

Nevada benefits from United States migration patterns impacting employment and jobs. Most migration to the state is for people to take a new job. The state’s growth industries include:

  • Tourism including Gaming
  • Clean Energy Initiatives including Solar, Wind, and Geothermal
  • Mining including Gold, Silver, and Lithium
  • Aerospace and Defense including several Air Force Bases
  • Information Technology powered by a strong Digital Infrastructure

With no income tax, low property taxes, and a warm climate, retirees find Nevada a welcoming place. Around half of movers into the state were in the age range between 55 an 74 years old.

Arizona

Arizona benefits from United States migration patterns relating to retirement. Most of the moves to Arizona were for retirement, followed closely by moves for a new job or as a transferee. There are several reasons people choose Arizona for retirement, including:

  • Generally pleasant climate
  • Exceptional natural attractions such as the Grand Canyon
  • Low cost of living
  • Greater number of retirees for social groups
  • Tax-friendly policies

Arizona is increasingly diversifying its economy, with growth in a number of industries including:

  • Bioscience Research and Development
  • Technology and Innovation
  • Manufacturing including High Tech
  • Aerospace and Defense including top ranking University Programs
  • Business and Financial Services including Data Centers

According to a new economic report by State Policy Reports, Arizona ranks #3 in the nation for economic momentum. The momentum is based on Arizona’s growth in categories such as population, employment, and personal income.

What Do United States Migration Patterns Mean for Employers?

Employers in the states of Vermont, Oregon, Idaho, Nevada, and Arizona benefit from United States migration patterns that draw a variety of new residents. Growing industries with burgeoning job opportunities tend to generate additional jobs. As a result, communities grow in population and related services are needed such as housing, retail, insurance, and child care. Demand for employees may be strong in these states and many other locations, especially during tight labor markets.

What Should Employers do About United States Migration Patterns?

Employers in locations that benefit from United States migration patterns should review their company’s growth plans and requirements for jobs across all levels of skill sets. A company’s growth plans will impact the number and type of jobs required to meet business plans and goals.

Since the nation is experiencing low unemployment, employers should review their talent acquisition and management programs to ensure they remain competitive to attract and retain new hires and transferees. Relocation Management Companies (RMCs) can provide expert assistance to employers to benchmark their relocation policies and add enhancements that attract talent.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company determine how to leverage United States migration patterns for talent acquisition and management.

GMS was the first relocation company to register as a .com, 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.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation program needs. Since United States migration patterns may lead to a growing local population and potential future workforce, be sure your company’s relocation program supports talent acquisition. Give our experts a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Career Services Job Market Job Seekers Talent Mobility United States Economy

In the 2019 USA Job Market, Which Cities are the Best Places to Find a Job?

job interview
Diverse business team conducting interview or review with prospective employee

The 2019 USA job market has been growing over the past several months. According to the U.S. Department of Commerce Bureau of Economic Analysis, the nation’s economic performance continues on a strong pace. This promises a future economic outlook of additional growth and healthy employment levels.

The 2019 USA Job Market Benefits Some Cities

2019 will see several job market trends impacting cities. Many companies are seeking to relocate jobs to cities that offer lower costs. Several cities in the USA (as well as foreign countries) will benefit from this trend. Another trend is a push towards greater technology usage throughout organizations. Employees who are comfortable with technology and rapid change may thrive in new opportunities.

What Characteristics do the Top 10 Cities in the 2019 USA Job Market Share?

The top 10 cities in the 2019 USA job market share several characteristics. Many of these cities exhibit several of the following traits:

  1. Center for technology and innovation
  2. Residents with a high level of education
  3. Traditional sunbelt destination
  4. Exceptional natural beauty and amenities
  5. Major global city in its own right
  6. Near other major employment centers
  7. State and local government policies welcome business investment

What are the Top 10 Cities in the 2019 USA Job Market?

According to WalletHub, the top 10 Cities in the 2019 USA Job Market are:

  1. Scottsdale, AZ
  2. Columbia, MD
  3. Orlando, FL
  4. San Francisco, CA
  5. Colorado Springs, CO
  6. Portland, ME
  7. Plano, TX
  8. Washington, DC
  9. Boston, MA
  10. Chandler, AZ

Scottsdale is the top city in the 2019 USA job market to find a job. The city is one of only two (the other is Columbia, MD) that made the top 10 in the study’s two significant indicators:

  • Job Market
  • Socioeconomics

How Arizona Cities Fare in the 2019 USA Job Market

Several cities in Arizona are seen as ranking high for job seekers, including:

  • Scottsdale #1
  • Chandler #10
  • Tempe #14
  • Gilbert #39
  • Peoria #41
  • Phoenix #53
  • Mesa #65
  • Glendale #68
  • Tucson #105

Scottsdale maintains a significant focus on job creation. According to the city’s 5 Year Economic Development Strategic Plan, the city focuses on policies and programs that:

  1. Meet economic objectives to control inflation while promoting sustainable growth and employment
  2. Improve the city’s business climate
  3. Provide services including infrastructure, city parks, and medical access for the disadvantaged

Also, Scottsdale Airport is one of Arizona’s premier corporate jet facilities. It is located nine miles north of downtown Scottsdale, and is known as a significant generator for the 2019 USA job market. It is also within easy driving distance to a number of world-class golf courses, luxury hotels, upscale resorts, a variety of shopping experiences, and exquisite restaurants. The airport hosts two renowned Flight Based Operators:

In October 2018, the International Association of Golf Tour Operators (IAGTO) named Scottsdale as the IAGTO North American Golf Destination of the year for 2019. IAGTO notes that Scottsdale has over 330 days of sunshine, and features exceptional courses for leisure and championship play including:

What Does This Mean?

Job seekers in the 2019 USA job market should look at Scottsdale, AZ, as a top place to find a job. Several other cities in the USA are also great places to find a job. Job seekers have a wide variety of locations to consider when looking for a job, from Maine to California, and from Colorado to Arizona. Employees looking for jobs should consider cities that rank high as a best place to find a job.

What Should Employers in the 2019 USA Job Market do?

Employers currently in a best place to find a job should examine their hiring needs and identify candidates using pre-hire assessments. They should work with a qualified Relocation Management Company (RMC) that can provide a full range of pre-decision services. Employers may consider relocating new hires or transferees to fill positions in these cities. If so, they should provide transferees and their family members with as many valuable resources as possible to help increase relocation success.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to fill positions in the 2019 USA job market. Our team can help your company understand how to use pre-hire assessments to identify qualified candidates. Also, we can help your company design a relocation program following industry best practices that results in higher relocation success rates and greater transferee satisfaction.

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.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s need to fill 2019 USA job market positions, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
United States Economy

Leveraging the Growth of World Economies for Corporate Success

Petronas Towers, also known as Menara Petronas is the tallest buildings in the world from 1998 to 2004.

How can a company grow and achieve corporate success as world economies change? Many companies think the answer is to determine how best they can get their products into these growing markets. While this seems straightforward, international trading laws, customs, and tariffs may drastically alter a company’s chances for success.

Local Market Preferences

Additionally, products should be suited to markets to ensure success. For example, clothing choices that are common in the United States would not necessarily find success in other markets. Another example is water filtration technology, where advanced markets seek to improve water taste and appearance, while emerging markets may seek to increase access to potable water or focus on basic filtration to ensure safe drinking water supplies.

Local tastes and preferences should always be considered to help ensure corporate success. Many successful businesses have struggled and failed to achieve success in their international growth initiatives. Much of this could have been prevented with stronger test marketing programs and in-depth local marketing research.

Alternate Routes to Success

Companies pursuing world economies as part of their corporate growth and success strategy might consider alternate routes to reach these markets. This may provide them with valuable market information to help increase their chances for success. Such information may include geographic area, general types of target customers and their demographics, information about local competitors, and information about government regulations, taxes, and requirements.

Which World Economies are the Fastest Growing?

Looking forward over ten years, the face of the world’s economic leaders will change. By 2030, the leading world economies will reflect the rise of Asia as a dominant economic force.

According to a Standard Chartered report, by 2030 Asian Gross Domestic Product (GDP) will account for approximately 35% of the global GDP. India is seen as the largest driver of this growth in Asia. This is due to the introduction of several reforms including the Indian Bankruptcy Code and a new National Goods and Services Tax (GST). Also, six of the largest world economies will be in Asia:

  1. China (Asia): $64.2 trillion
  2. India (Asia): $46.3 trillion
  3. United States (North America): $31 trillion
  4. Indonesia (Asia): $10.1 trillion
  5. Turkey (Europe/Asia): $9.1 trillion
  6. Brazil (South America): $8.6 trillion
  7. Egypt (Africa/Asia): $8.2 trillion
  8. Russia (Eastern Europe): $7.9 trillion
  9. Japan (Asia): $7.2 trillion
  10. Germany (Western Europe): $6.9 trillion

How can a Company Grow with World Economies?

There are several ways a company can grow with world economies. The traditional route of exporting goods into these markets has its limitations. As a result, examining alternatives is a valuable pursuit.

One way is to consider business expansion with a local operation. This may entail setting up a legal entity such as a Wholly Foreign Owned Enterprise, a foreign subsidiary, or a local distributor. A company might acquire a physical location through sale or lease. Staffing decisions may be made either through relocation, local direct hiring, or a combination of both. All of these activities may take a significant upfront investment in both time and funds.

Another way is to consider the services of an International Professional Employer Organization (PEO), an “Employer of Record” solution. International PEO is a global employment solution where a third-party in a foreign country hires your employees, acting on your behalf. The International PEO becomes an extension of your Human Resources Department. They manage all of the traditional HR functions including:

  • Payroll and Tax Withholdings
  • Remittances to Local Authorities
  • Benefits
  • Health and Social Security-Related Programs
  • Onboarding
  • Health Insurance
  • Pensions
  • Terminations and Separations

International PEO lets a company add full-time team members to their global operations within a matter of days. Companies can easily test new markets for their products without making significant investments in time or funds.

What Does This Mean?

The growth of world economies means that companies may have greater opportunities to find new markets for their goods and services. This also means that companies should examine market data from emerging economies. This information will help them determine if their products and services should be tailored to meet local demand. Companies may consider investing in local market research, conduct test marketing trials, and examine alternate routes to conducting business in world economies.

What Should Employers Interested in World Economies do?

Companies that are looking to leverage the growth of world economies should work with a Relocation Management Company (RMC) that has knowledge and experience in helping companies expand into new markets. Choose an RMC that provides ongoing employee support services, supplier management, relocation benefits, and expense management.

The RMC should also provide access to helpful solutions such as International PEO for companies looking to enter new markets to ensure:

  • Full compliance with local requirements on international employment.
  • The company expends the lowest monetary cost to save funds for use on other corporate objectives.
  • They spend the least amount of time so the company can identify and pursue valuable opportunities.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to grow their company’s international employment to leverage the growth of world economies. Our team can also help your company understand how to work with an International PEO. As a result, this will help your company gain all of the benefits this solution provides for international employment.

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.

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 company’s international employment needs, or give us a call at 800.617.1904 or 480.922.0700 today.

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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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