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Fastest Growing Jobs in the USA Can Be Filled Using Relocation Services

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The fastest growing jobs in the USA are within several industries. Many of these jobs have education, training, certification, or experience requirements for new hires.  Employers seeking to find candidates with the requisite qualifications benefit from using pre-hire assessments in their talent recruiting process. Pre-hire assessment tools may identify viable candidates in other parts of the country, or even outside the USA. Employers can use relocation services to attract viable candidates who might need to relocate for the position.

Fastest Growing Jobs in the USA for 2018

The Occupational Outlook Handbook published by the United States Department of Labor, Bureau of Labor Statistics, lists the fastest growing occupations. According to the Handbook, 20 occupations will experience the highest increase in growth over the time period 2016-26.

Major industries that have the fastest growing jobs include:

  • Renewable Energy
  • Medical
  • Mathematics
  • Information Technology
  • Operations Research

The fastest growing jobs include several within the Medical and Science, Technology, Engineering, and Math (STEM) industries. These jobs often feature the ability to work flexible schedules, or to work on a limited assignment.

In fact, the rise in short term assignments in healthcare has been due in part to the challenge of finding candidates with the requisite qualifications. 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.

Often, the fastest growing jobs are also those that have the highest rates of pay. For example, many Information Technology jobs offer exceptionally high salaries. Within Information Technology, jobs may feature data insight or engineering functions, indicating a wide range of opportunity in this industry.

Labor Force Dynamics Reinforce the Fastest Growing Jobs

The USA’s labor force is undergoing changes that create demand for several of the fastest growing jobs. Slower labor force growth means the labor force will continue to increase in age. Workers who are 55 or older are projected to grow to nearly 25% of the entire labor force by 2026. The increasing age of the labor force and the nation’s population means healthcare practitioners, support, and technical occupations will be the fastest growing jobs through 2026. The aging population along with longer life expectancies and growing rates of illness will continue to increase demand for healthcare services, and in turn, healthcare jobs.

Other occupations outside of the Medical and STEM industries that are also on the list of the fastest growing jobs include:

  • Social & Community Service Manager
  • Fundraiser
  • Pile-Driver Operator
  • Market Research Analyst

What Should Employers Expect?

Employers should expect that the fastest growing jobs will lead to greater competition for qualified candidates. Employers should also expect that they may need to expand their talent recruiting programs to search beyond traditional venues, including outside the USA.

What Should Employers Do?

Employers should review their talent recruitment programs to determine if they need to enhance their relocation policy to better focus on attracting new hires to open positions. Employers should ensure their relocation policies reflect industry best practices. In industries experiencing significant growth, employers should review their talent recruitment programs and relocation policies. They should look into enhancements that highlight the organization’s growth and opportunities. They should also review their programs and policies to highlight the potential for the candidate’s future career growth and success.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients with their talent recruitment programs and relocation policy needs. We can help your company understand how to design your relocation policy to reflect industry best practices and highlight your organization’s growth and opportunities to attract new hires.

Learn how your company can benefit from programs and policies that are designed to attract qualified candidates from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed. 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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Buy a Home Global Relocation Global Relocation Challenges Home Purchase

United Kingdom Housing Market Sees Rate of Annual Price Growth Decline

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The United Kingdom housing market is experiencing a period with annual price growth in decline. Annual price growth through August 2018 declined to 2% from July’s rate of 2.5%. Additionally, house values on a month to month basis declined by 0.5%, the largest monthly decline on record since July 2012.

What is causing the annual price growth to decline?

The annual price growth is declining due to a number of factors:

  • The UK housing market is coming off an extended thirty-year expansion as economic growth begins to slow.
  • Uncertainty fueled by Brexit has further dampened both the economy and home buyer enthusiasm.
  • In the UK, an increase in stamp duty on second homes to 3% has also hurt demand. Stamp Duty Land Tax (SDLT) is a tax on land transactions in the UK arising from the Finance Act of 2003. SDLT is not a stamp duty, but a form of self-assessed transfer tax charged on “land transactions.”
  • The market typically experiences a period of slow activity during the summer months as well, with many people on holiday.
  • The UK housing market currently has too much stock on the market, dampening prices. The market has the highest amount of stock since September 2015. Up to one third of houses have had at least one price reduction, the highest percentage in summer since 2011.

These factors combined are creating a faster rate of annual price growth declines. The declining rate of annual price growth is further hampered by falling UK home prices.

Where are prices declining the most?

London is currently experiencing an economic slowdown. Home prices in London are falling at their fastest rate since the city experienced the pain of the worldwide financial crisis earlier in this decade. London home prices fell 0.7% on an annual basis through June, the lowest rate since September 2009, and fell 0.2% in May. June was the fifth month London house prices have fallen in 2018. The rate of annual price growth has been slowing in the UK since 2016, and has remained below 5% throughout most of 2017 and 2018.

What should employers expect?

Employers should expect that the UK housing market may present favorable conditions for relocations to the UK market, as buyers may be able to obtain good quality properties at better prices. Conversely, employers looking to relocate employees from the UK market may experience longer delays for property sales. They may also experience some transferees not desiring to relocate in the short term due to lower home selling prices.

What should employers do?

Employers should review their hiring plans and determine if there are opportunities to relocate transferees to the UK while the housing market is presenting favorable buying opportunities. Employers should examine their relocation policies to determine if they should be amended to assist transferees looking to relocate out of the UK as the housing market experiences annual price growth declines and home prices decline overall.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their country-specific employment, visa, and residency requirements. We can help your company understand how to understand and respond effectively to the UK housing market’s impact on transferees and their willingness to accept relocations as annual price growth declines.

Learn how housing markets impact relocations from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. 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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Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends Immigration Rules Relocation Challenges Visas and International Travel

USCIS Adjusting Premium Processing Fees to Improve Adjudications and Service Processes

USCIS Adjusting Premium Processing Fees to Improve Adjudications and Service Processes

The U.S. Citizenship and Immigration Service (USCIS) will increase premium processing fees for some forms starting on October 1, 2018. The fees will increase by 14.92%, reflecting the percentage increase in inflation since implementation of the last fee increase in 2010. The increase is being done in accordance with the Immigration and Nationality Act. The Act permits USCIS to raise such fees in order to provide services.

What is the issue?

Costs for staff, technology, and supplies have increased since 2010. Using the Consumer Price Index for all Urban Consumers as a benchmark, the increase on average is 14.92% over this time frame. At the same time, the demand for immigration services that USCIS provides has significantly increased. Without an increase in the premium processing fees, USCIS will be increasingly unable to continue providing services.

What are the forms subject to increases in premium processing fees?

Premium processing fees are additional fees that petitioners can pay for the option of requesting a 15-day processing time for specific requests. Petitioners must also pay the basic form filing fee as well as any other required fees.

Forms subject to increases in premium processing fees include:

Form I-129, Petition for a Nonimmigrant Worker – this form is for petitioners filing on behalf of a nonimmigrant worker to come to the United States temporarily to perform services or labor, or to receive training, as an H-1B, H-2A, H-2B, H-3, L-1, O-1, O-2, P-1, P-1S, P-2, P-2S, P-3, P-3S, Q-1 or R-1 nonimmigrant worker. Petitioners may also use this form to request an extension of stay in or change of status to E-1, E-2, E-3, H-1B1 or TN, or one of the above classifications for a foreign national.

Form I-140, Immigrant Petition for Alien Workers – this form is used to petition for an alien worker to become a permanent resident of the United States.

What does increasing premium processing fees mean for the USCIS?

USCIS will be able to hire additional staff, as well as make significant investments in technology. As a result, this will allow the agency to provide adjudications and premium processing services quickly and more efficiently than is currently possible.

What should employers expect?

Employers should expect that premium processing fees for Form I-129 and I-140 will increase by 14.92%. Currently, the fee is $1,225. Starting on October 1, the fee will increase to $1,410.

What should employers do?

Employers should review their hiring plans and determine any current budgetary impact related to increases in premium processing fees for Form I-129 and Form I-140. Employers should also review future budgets to ensure they reflect the increased fees.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their country-specific employment, visa, and residency requirements. We can help your company understand how to respond effectively to the USCIS’s increase in premium processing fees. Learn how your company can mitigate the impact of increases in premium processing fees from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

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Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends Visas and International Travel

EU Blue Card and Single Permit Directive Allow Non-EU Citizens to Work in EU Countries

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Within the European Union (EU), the EU Blue Card program allows non-EU citizens to work in EU countries. Applicants for the EU Blue Card must meet specific criteria before they can obtain the card. Employment portals such as the EU Blue Card Network lets applicants submit applications as well as create profiles that can be searched by EU employers so they can offer employment contracts. Additionally, the European Job Mobility Portal provides an overview of job opportunities in the EU, as well as tips on how to apply for jobs and information on living and working in all EU countries.

What are the specific criteria that citizens must fulfill to request an EU Blue Card?

There are several specific conditions that non-EU citizens must meet before they can request an EU Blue Card:

  1. Citizenship outside of the EU
  2. Have post-secondary education (degree) or at least five years or more professional experience
  3. Obtain an employment contract or binding employment offer from an EU employer that is at least one year in length
  4. Work as a paid employee; self-employed workers or entrepreneurs are not eligible for the EU Blue Card
  5. Annual gross salary must be at least one and a half times the average national salary (except when the lower salary threshold applies)
  6. All necessary travel documents are in order
  7. Health insurance is in place for yourself and any relatives who come to the EU with you
  8. Proof that you fulfill the legal requirements to practice your profession, if the industry regulates your profession

How did the EU Blue Card program originate?

The European Commission believes that workers with a high level of skills from outside the EU are crucial to maintaining the EU’s economic competitiveness. Several sectors of the EU economy are dealing with a shortage of skilled employees, lowering the EU’s ability to compete in the international market. Since 2009 the EU Blue Card Directive creates a common admission criteria and helps speed the procedure for hiring skilled foreign nationals. A new EU Blue Card Directive in June 2016 further simplifies and streamlines the processes. The EU Immigration Portal created a new EU Blue Card website to provide a user-friendly portal as well as current information for applicants.

What should employers do?

Employers seeking to hire non-EU citizens should review the program’s requirements. They should also investigate EU Blue Card job portals and networks that will allow them to search for qualified applicants to help fill job openings.

Conclusion

Global Mobility Solutions’ team of global relocation experts helps thousands of our clients with country-specific employment requirements. We can help your company understand how to use the EU Blue Card program and job networks to search for highly skilled foreign nationals to fill your job openings, and help you design a relocation policy that appeals to qualified job seekers. 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 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 Mobility Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends

Spain’s Changing Economy Leads to Relocation Opportunities

cityscape view at dusk
Madrid, Spain financial district skyline at twilight.

Since undergoing a massive retrenchment from 2008 through 2013 when it lost 9% of its Gross Domestic Product in real terms, Spain’s changing economy has recovered and is now transforming into a global technology power center. As of 2016, exports have risen dramatically, with many companies selling throughout the European Union and beyond.

What is causing the change?

Mariano Rajoy, Spain’s Prime Minister from 2011 through 2018, instituted several reforms designed to help the country recover from its economic crisis. These reforms included reducing redundancy pay from 45 days per year worked to 33 days, and moving wage bargaining to the company level, thus making the labor market more flexible. Also, the financial system was addressed by closing under-performing banks that had made excessively risky property loans, and public finances were reformed by cutting the country’s budget deficit.

Mr. Rajoy’s digital agenda led to expansion of Spain’s fibre-optic network for high-speed data transmission, now covering 76% of the population, the highest percentage across all of Europe. Infrastructure investments in Spain have improved transportation and rail networks. Outside of Spain, the global economic recovery has increased demand for Spanish products and services, as well as improved traditional leading sectors in Spain such as tourism and travel.

What does this mean?

As Spain’s changing economy improves and continues its technology-driven transformation, the demand for highly skilled professional workers is increasing. Although the country has several leading universities and a number of technology industry startups, the demand for highly skilled workers is outpacing the number of qualified employees. Spain has a number of registered unemployed workers, but the skills gap is wide for positions in the new economy. Nearly half of job openings through 2030 will require a high level of skills and qualifications. Employers in Spain may benefit from relocation programs designed to attract and retain new hires with specialized skills and experience.

What should employers do?

Spain’s changing economy is driving growth across several industries, leading to a high level of demand for skilled workers. Employers should examine their relocation policy to determine if it is in line with Spain’s requirements for work visas. Consulate of Spain offices in cities such as Los Angeles offer forms, guidance, and assistance for work visas.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with country-specific employment requirements. We can help your company understand how to design your relocation policy so it supports transferees and new hire relocations critical to your company’s ability to grow in Spain’s changing economy. 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 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 Domestic Relocation Global Mobility

Seven Tips to Help Your Company’s New Human Resource Mobility Manager Get Up To Speed

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Strong economic growth helps companies increase sales, meet corporate objectives, and expand their operations. As companies grow, their need for employees with exceptional skills and talent increases. New hires, transferees, and promotions impact all departments, including Human Resources (HR) and the HR Mobility Manager.

However, growing companies cannot easily provide employees with a lot of time for long learning curves. The speed of business, as well as expanding competition, mean new hires, transferees, and employees new to their positions must hit the ground running. Your company’s future depends on a robust, well-functioning, and highly productive talent acquisition program.

Companies with successful talent acquisition programs understand their relocation policies are critically important to attracting and retaining those with the highest level of skills and experience. How can a new HR Mobility Manager get up to speed quickly and efficiently so talent acquisition programs and relocation policies are fully effective?

Global Mobility Solutions’ team of global relocation experts believes these seven tips are the most helpful for new HR Mobility Managers:

1. Set up a meeting with your Relocation Management Company (RMC).

The first thing a new HR Mobility Manager should do is meet with their RMC’s Account Manager and Relocation Coach responsible for servicing their account. The relocation experts servicing their account will have in-depth knowledge of the company’s relocation policies. They will also be able to speak to what is working best for the company, and share helpful recommendations that will benefit the company’s talent acquisition program and relocation policies.

2. Examine past annual reviews and become familiar with reports.

Annual reviews and reports from their RMC provide a quick summary of important measurements, including:

  • Annual Spend
  • Volume of Relocations
  • Relocation Policy Tiers
  • Policy Exceptions
  • Industry Trends

3. Review customer satisfaction ratings.

Every relocation should have input from the transferee as to their level of satisfaction. Ratings may provide insight regarding relocation policy issues; transportation including packing, move, and unloading; and satisfaction with elements of the relocation process such as expense reimbursement processes and community tours. Information should also provide insight into the resolution of any service challenges, which in turn may help guide future relocation policy development.

4. Set up training for the online portal so you can access relocation tools.

Your company’s RMC should have a robust and industry-leading relocation technology solution. The technology should be fully secure, with simple processes and easy to use tools for both employees and transferees. The training should include:

  • How to Initiate a Relocation
  • How Transferees Submit for Reimbursement
  • Viewing Transferee’s Status
  • Running Custom Reports

5. Learn the history of your company’s relocation policy.

Your RMC Account Manager understands the details and nuances of your company’s relocation policy. They can help you understand the history of your policy, including what the most recent revision was, and why the revision was necessary. Your RMC may also have specific policy suggestions that are helpful to your company. They have knowledge about your company and the industry it is in, as well as experience in the relocation industry. They understand what works best for your company’s relocation policy, especially as it relates to your talent acquisition program.

6. Interview your HR Department to learn which improvements should be made to the policy.

Other members of your HR Department may be good sources to learn which improvements are necessary for your company’s relocation policy. They may have experience working with transferees and issues such as policy exceptions. Ask the other employees in your department these questions:

  • What Works?
  • What is Not Working?
  • Is the Relocation Budget Sufficient?
  • Do the Relocation Packages Include Enough Benefits to Draw New Hires?
  • What is the Expense Management Turnaround Time?
  • How Does the Invoicing Process Work?
  • What Other Ideas Would They Suggest?

7. Be sure your RMC shares industry updates and trends on a consistent basis, and consider joining Worldwide ERC.

Your RMC should share industry updates and trends on a consistent basis. As experts in the relocation industry, you should be able to rely on your RMC’s knowledge and experience. Your RMC should help design your company’s relocation policies using best practices to promote successful relocations. Another helpful resource for relocation industry information is Worldwide ERC. Consider joining this leading industry association to gain access to useful information and expand your networking opportunities.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients when new HR Mobility Managers come on board to work with our team. We can help your company’s new HR Mobility Manager get up to speed quickly and efficiently, so talent acquisition programs and relocation policies are fully effective. 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 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 Global Relocation Challenges Global Relocation Tips Global Relocation Trends Visas and International Travel

European Union Member States Must Recognize Residency Rights of Same Sex Spouses

Amazing London skyline with Tower Bridge during sunset

A new rule from the European Court of Justice, located in Luxembourg, requires European Union (EU) countries to recognize the residency rights of same sex spouses. The rule applies even if the countries do not authorize marriage between persons of the same sex. These countries may not obstruct the freedom of residence of any EU citizen. They cannot refuse to grant their same sex spouse, who is a national of a country that is not an EU Member State, a derived right of residence in their country.

Why is this rule needed?

Prior to the new rule, several EU member states did not offer legal protection for same sex spouses. These countries include Bulgaria, Latvia, Lithuania, Poland, Romania, and Slovakia. They also did not offer residency rights for same sex spouses of EU citizens.

Who does this rule affect?

This new rule affects same sex married couples who reside in the countries of Bulgaria, Latvia, Lithuania, Poland, Romania, and Slovakia.

What should employers expect?

Employers should expect that all non-EU citizens who become residents by marriage to an EU citizen will now have full residency rights applicable to all EU citizens. This includes employment rights and health benefits for which they were previously not eligible. As a result, some employees may want to add their same sex spouses to their health benefit coverage, if applicable.

What should employers do?

Companies that have current EU citizen employees should take notice. Most especially if these employees reside in the countries of Bulgaria, Latvia, Lithuania, Poland, Romania, and Slovakia. Companies should review their employee’s eligibility under the new rule for benefits coverage. They should also review the eligibility for all other related services for their employee’s same sex spouses. EU citizen employees and their family members within these countries should also take notice. They should understand the impact of the EU’s new rule affording residency rights for same sex spouses.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their country-specific employment, visa, and residency rights requirements. We can help your company understand how to respond effectively to the EU’s new rule. We can explain the impact of residency rights for same sex spouses in these specific countries. Learn how to navigate the changing residency landscape in the EU from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

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Buy a Home Corporate relocation tips Domestic Relocation Tips Domestic Relocation Trends Global Relocation Tips Global Relocation Trends Home Purchase Relocation Policy Review Relocation Programs

Why Companies Should Encourage Transferees to Buy Instead of Rent

Happy couple in front of their new home
Shot of a happy young couple holding the keys to their new home

Why should your company encourage transferees to buy instead of rent? Our team of global relocation experts review thousands of relocation policies on a regular basis. We work with our clients to incorporate best practices, so they can gain a competitive edge with their relocation policies and attract the highest caliber of talent.

Consistently, many relocation policies have not offered home purchase benefits to current renters. Instead, current renters received benefits that directed them to remain as renters. Recent consultation with several clients provides new insight into this practice.

Many clients are now offering home purchase benefits to current renters, to encourage transferees to buy instead of rent. This trend is increasing, as clients are learning that home purchase benefits for current renters return several benefits back to the client in terms of employee retention. As we examine this trend, a new best practice is appearing in relocation policies.

There are 7 distinct benefits for clients when they encourage transferees to buy instead of rent:

1. Transferees establish strong roots in a neighborhood and community.

Think of the time you may have taken a job and moved to a new location. You may have spent time finding a new home and exploring neighborhoods. Your family members may have expressed what was important for their needs as well. Factors may include nearby schools, or amenities like parks and shopping centers.

Each facet of a community becomes a part of a transferee’s life. As a result, those who put down strong roots by establishing home ownership are more likely to remain committed to their neighborhood, their city, and their employer.

2. Transferees can personalize a home so they can settle in comfortably, so encourage transferees to buy.

Transferees who buy can easily personalize a home to meet their distinct preferences. Everything from painting their front door to match a favorite color to decorating interior spaces to their liking can lead to greater transferee satisfaction with their living arrangements. Satisfaction with their home is more likely to lead transferees to feel satisfied with their relocation as well.

Renters, on the other hand, often are limited to moving into an apartment, and cannot easily customize the space. Even if they do some customization such as interior painting, they often must return the apartment to its original condition if they were to vacate. Renters face a strong disincentive when it comes to personalizing their living space. Living in a space they cannot personalize often makes renters feel as if they are nomads. The end of their lease is already defined, which seems to put a mark on their time in a specific location. This may lead transferees to believe they can easily move to another apartment, or another position.

Corporate talent acquisition should work in tandem with employee retention so relocation policies offer home purchase benefits. This will help encourage transferees to feel as if their relocation is permanent, and not a temporary state.

3. Monthly mortgage costs are consistent year to year, while rents can increase dramatically.

One of the benefits to buying a home versus renting is the stability of mortgage payments. Monthly costs for a mortgage tend to be consistent year to year, defined by the terms of the mortgage upfront. As a result, this allows buyers to know their monthly housing costs and provides for better budgeting and financial planning.

Renters could face a rent increase as soon as their lease expires. There are many reasons why landlords would increase rent, including higher property taxes, inflation, or higher building maintenance costs. They might just want to make more money, and if demand for rentals in the area is high, then rent increases are easy to implement because those who move are easily replaced with other renters. Increases in rent could be exceptionally high. Therefore, renters need to make a decision on a regular basis if they want to absorb the cost of the rent increase, or take on the additional expense of searching for a new rental, and paying to move their belongings.

Overall, transferees who rent often are subject to somewhat volatile conditions that can impair their job performance. If they must worry about their housing options in the face of rent increases on a regular basis, transferees certainly cannot easily focus on corporate objectives.

4. Home mortgages are similar to saving plans and investments, and owners can more easily move up to a larger home at a later date.

There are numerous benefits to home ownership, and transferees can gain greater satisfaction with their relocation with home purchase benefits. Home ownership lets transferees build financial equity, and a home is an investment that will increase over time. Homeowners have tax benefits they can claim as well. Mortgage interest, property taxes, and other items may provide tax deductions on an annual basis. As a home gains value over time, and as the homeowner builds greater equity each year as their mortgage balance declines, homeowners have a built-in savings and investment vehicle in real estate they can use in the future.

Employers benefit if they encourage transferees to buy instead of rent by reinforcing the high value homeownership returns to the transferee, cementing their interest in staying in a location.

5. In many markets, rentals are extremely competitive to secure and the costs exceed homeownership. Security deposits can often exceed a home purchase down payment.

Brooklyn

Several markets have seen the cost of rentals rise far beyond the cost of homeownership. A recent example can be found in Brooklyn, New York. A three bedroom, one bathroom apartment at 378 Grand Avenue is listed on Zillow at $3,900 per month (not including renter’s insurance costs).

A house located at 575 Jerome Street with five bedrooms and two bathrooms is listed for $599,000. Using a mortgage calculator, over a 30 year time period at a rate of 3.92%, with a mortgage balance of $575,000, taxes of $6,000, insurance of $1,500, and Private Mortgage Insurance (PMI) of 0.5%, the monthly mortgage costs for the house are $3,583.27.

In Brooklyn, a renter at 378 Grand Avenue can get a receipt for the rent they pay each month. Also, they may face a rent increase at the end of their lease. A homeowner can get more space, tax benefits, and an equity-building investment vehicle with a home on Jerome Street. It is easy to see how offering home purchase benefits can help transferees feel more satisfaction with their relocation.

Denver

Another recent example can be found in Denver, Colorado. A three bedroom, three bathroom apartment at 2590 Welton Street is listed on Zillow at $3,855 per month (not including renter’s insurance costs). A house located at 90 N. Lincoln Street with three bedrooms and two bathrooms lists for $610,000. Using similar parameters as the other example, with a mortgage balance of $585,559, taxes of $6,000, insurance costs of $1,500, and PMI of 0.5%, the monthly mortgage costs for the house are $3,637.59

6. If a transferee does not commit to their new community, they often view their opportunity as a job and not as a career.

Companies go to great lengths to acquire highly skilled talent. Often companies design relocation packages to highlight the benefits of an employment opportunity, to encourage prospects to accept job offers. In reality, it is in the company’s best interest to have the transferee think of the opportunity as a career offer. Finding and acquiring talent can be challenging.

Companies should have a career plan for the new hire, so they view the opportunity as a career, not as a job. This perception helps transferees commit to staying with their employer. Home purchase benefits let transferees commit to staying in their new community. Transferees that commit to their community are more likely to commit to their career.

7. A transferee who buys is more committed than a transferee who rents. Also, if a client offers home purchase benefits, then the employee knows the company is more committed to the employee.

A company can reinforce employee retention by showing employees they commit to them and their future. Employers should encourage transferees to buy instead of rent. This sends the message that the company wants the transferee to stay. If a company gives the impression to a transferee that they are temporary by only providing rental assistance, the transferee will get that message and feel as if they are a temporary employee.

Employers that give the impression to the transferee that they want them to join their company and their community by putting down roots and buying a home, will have transferees who believe they are part of the company’s future. In talent acquisition and employee retention, the message from the company should always be one of acceptance, inclusion, and permanence. Acquiring highly skilled talent is a difficult challenge. Companies that are successful in this endeavor should make employee retention efforts even more successful by offering home purchase benefits to transferees.

Rent Versus Buy Calculator Will Help Encourage Transferees 

Global Mobility Solutions has a wide range of online tools and resources for clients and transferees. GMS’ Rent Versus Buy Calculator is an easy to use, step-by-step program. This program compares the cost of renting versus the cost of buying a home. Employers that encourage transferees to buy instead of rent can use this online tool to encourage homeownership. This in turn helps the transferee make the decision to buy in their new community. This decision will help the transferee feel like a part of the company. As a result, they will be more willing to stay with the company on a long term basis.

What Should Employers do to Encourage Transferees to Buy Instead of Rent?

Employers should work with an RMC that has the qualifications, knowledge, and experience to ensure their relocation policies provide home purchase benefits to transferees who are current renters. As a result, this will promote stronger employee retention as transferees put down roots in communities and gain greater satisfaction with their relocation.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients design relocation policies that reflect best practices to promote employee retention. We can help your company understand how to leverage home purchase benefits for current renters to encourage transferees to buy and help ensure successful relocations.

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 or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Talent Mobility Visas and International Travel

United Kingdom Creates New Settled Status for European Union Nationals and Family Members

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The United Kingdom is creating a new Settled Status for European Union nationals and their family members residing in the UK. This new designation arose from an agreement between the United Kingdom and the European Union. The new Settled Status replaces the current permanent residence status that is granted under EU Law.

Negotiations pertaining to the UK’s exit from the EU, also known as BREXIT, continue on specific matters pertaining to the exit process.

What are the important timeline dates?

The Month of March 2019: The application process will be fully open

March 29, 2019: The United Kingdom exits the European Union

The Timeframe from March 30, 2019 through December 31, 2020: Implementation Period for BREXIT

December 31, 2020: Five Year Residency deadline for EU citizens and immediate family members residing in the UK

June 30, 2021: The deadline for applying for the new Settled Status

Who is eligible to apply for the new Settled Status?

  • All European Union nationals and their qualifying family members (spouses, unmarried and civil partners, children) living in the UK on a continuous basis for five years up to December 31, 2020.
    • NOTE: A fee comparable to the current cost of a UK passport (£80) will apply.
  • All European Union nationals who arrive in the UK prior to the December 31, 2020 deadline, have not met the five year residency rule, but who do want to remain in the UK.
    • NOTE: Must apply for temporary “pre-Settled Status” permission to reside in the UK until they meet the requirements for the new Settled Status.
    • NOTE: A fee comparable to the current cost of a UK passport (£80) will apply.
  • Immediate family members of European Union nationals who arrive in the UK prior to the December 31, 2020 deadline, have not met the five year residency rule, but who do want to remain in the UK—ONLY if the family relationship existed BEFORE December 31, 2020.
    • NOTE: Must apply for temporary “pre-Settled Status” permission to reside in the UK until they meet the requirements for the new Settled Status.
    • NOTE: A fee comparable to the current cost of a UK passport (£80) will apply.
  • Current EU citizens residing in the UK who hold permanent residence status or plan to do so before December 31, 2020 must exchange this document for the new Settled Status in order to continue residing in the UK after the deadline.
    • NOTE: There should be no fee to exchange this document if the EU citizen currently holds permanent residence status.

What is the process to apply for the new Settled Status?

The United Kingdom Home Office will be introducing a new online application process. This new process will eliminate the current requirement to complete an application form and provide several supporting documents. The Home Office notes that the new process will link to relevant government departments. Also, the new process will synchronize records to automatically confirm data such as the applicant’s work history.

Applicants for the new Settled Status, or those applying for temporary permission to reside in the UK until they meet the residency requirements for Settled Status, must prove their identity and nationality. Acceptable documents include a current passport, Identification Card, and a recent photograph. Applicants must also declare any criminal convictions on their records.

When will the new Settled Status application system be in use?

The United Kingdom Home Office is targeting the application system to be fully open by March 2019.

What should employers do?

Companies that have current EU national employees residing in the United Kingdom should review their eligibility under the new Settled Status requirements and plan accordingly. EU national employees and their family members should learn about and understand the UK’s new residency and application requirements if they wish to remain in the United Kingdom.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their country-specific employment, visa, and residency requirements. We can help your company understand how to respond effectively to the United Kingdom’s new Settled Status. Learn how to navigate the changing residency landscape during BREXIT from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

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Advantages of an Expedited Bidding Process

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More companies are using an expedited bidding process when it comes to outsourcing their relocation program to a Relocation Management Company (RMC). This fundamental shift in a company’s approach to outsourcing relocation has many benefits, including significant cost and time savings. As the pace of business continues to increase, expedited bidding has proven to be a boon for companies that are looking to enhance the management of their relocation program.

Global Mobility Solutions’ team of global relocation experts benchmarked 48 companies that have utilized this process to determine the reasons why this approach has risen in prominence in today’s relocation market. Our team has identified five distinct reasons for the increased utilization of expedited bidding.

Five Reasons Why Companies Prefer an Expedited Bidding Process:

1. Companies Buy Solutions, Not Parts

Purchasing relocation management is a much different process than sourcing parts or equipment. Companies understand that ensuring the right fit for the right reasons is the most important factor when sourcing employee-facing services.

2. Complimentary Mobility Consulting

Policy reviews, program design and recommendations, and policy development and revisions can easily be part of this process. This also allows companies to evaluate an RMC’s experience, knowledge of the relocation process, and the quality of their consulting work.

3. Faster Relocation Program Implementation With an Expedited Bidding Process

Over 90% of companies that utilize an expedited process are able to complete their implementation within 22 days. The speed of this approach allows companies to achieve immediate efficiencies in their programs.

4. Avoiding Formal Requests

Utilizing an expedited bidding process helps companies avoid the administrative burdens and resource-intensive approach typical of the more formal Requests for Information and Requests for Proposals.

5. Immediate Cost Savings

Competition inherent in this process often results in cost savings. Improved fee structures and reduced direct costs result in up-front savings for the client. Savings allow clients to increase their focus on strategic business initiatives while the RMC manages their relocation program.

What Should Employers do to Utilize an Expedited Bidding Process?

Employers should utilize an expedited bidding process as they consider outsourcing their relocation management. A Relocation Management Company with extensive knowledge of the global relocation market and the experience of moving hundreds of thousands of employees will provide the best resources for expedited bidding processes. An experienced RMC can also easily guide companies through the process and achieve highly successful results.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their relocation programs. We can help your company understand how to gain the most benefits from utilizing an expedited bidding process. Learn how to choose the best Relocation Management Company from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. 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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