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Talent Mobility

2020 Migration Patterns: Where are People Moving To in the United States?

United Van Lines’ newly published study of 2020 migration patterns in the United States shows where people are moving. The study ranks those states where the company has moved 250 or more into the state. Four of the top five states from the 2019 study make an appearance at the top of the 2020 list. One state that was in the top 5 in 2019 does not even rank in the top 10 for 2020—Washington. A new entrant into the top 5 is South Dakota, although it ranked at #8 in 2019.

Top 5 States Growing due to 2020 Migration Patterns

2020 Ranking2019 Ranking
1. Idaho1. Idaho
2. South Carolina2. Oregon
3. Oregon3. Arizona
4. South Dakota4. South Carolina
5. Arizona5. Washington

Note: Just as in 2019, for 2020 the state of Vermont actually had the highest overall percentage of inbound moves. However, United Van Lines performed less than 250 moves into the state

COVID-19 Impacts 2020 Migration Patterns

One major difference between 2019 and 2020 is the onset of the COVID-19 pandemic. Many companies allow workers to “work from anywhere” in order to reduce the spread of the disease. As a result, some large metropolitan areas have lost population. Employees are choosing to move to suburban areas and smaller cities.

How did South Dakota Rise from #8 to #4 in 2020 Migration Patterns?

South Dakota rose in the 2020 migration patterns due in part to a few specific reasons:

Governor Kristi Noem

  1. Governor Kristi Noem encourages workers and businesses to relocate to South Dakota through the state’s “South Dakota Means Business” campaign. Messages in the campaign include the state will “never be shut down or face mandates.” New residents that have chosen South Dakota are leaving states that have been on lockdown for many months in response to the global pandemic. The Governor has been an effective leader and communicator, spreading the message of all that South Dakota offers to its residents.

Economic Stability

  1. Nearby states such as Minnesota target business owners over issues relating to COVID-19. Governor Noem tweeted to Minnesota business owners to “Come to South Dakota! We respect your rights. We won’t shut you down.” Other Minnesota businesses are looking to relocate to South Dakota for greater economic freedom and civil protection. 2020 migration patterns reflect these relocations.

Additionally, South Dakota has a favorable business climate. Business owners benefit because the state has less taxes.

South Dakota does not impose any of the following taxes:

  • Corporate income tax
  • Personal income tax
  • Personal property tax
  • Business inventory tax
  • Inheritance or estate taxes

Affordable Cost of Living

  1. Overall, the cost of living in South Dakota is less than the US average. Looking at Sioux Falls, the state’s largest city with an estimated population of nearly 180,000 residents, the cost of living compares favorably across many categories:
Cost of LivingSioux FallsSouth DakotaUSA
Overall88.688.3100
Groceries100.197100
Health91.6101.5100
Housing81.483.8100
Utilities96.493.6100
Transporation74.871.2100

100 = US National Average
Source: Sperling’s BestPlaces.net

What Do 2020 Migration Patterns in the United States Mean for Employers?

For employers in the top 5 states, an influx of new residents and business may lead to business expansion and greater economic performance. As a result, demand for new employees may rise as local markets respond to increasing business activity.

What Should Employers do?

Employers should review their corporate initiatives and future growth plans. Requirements for job openings should be reviewed to ensure they attract the most qualified applicants. They should also determine if future growth will increase the need for new employees or facilities.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop highly effective relocation programs to attract and retain qualified employees. Our team can help your company leverage 2020 migration patterns in the United States for talent acquisition and management.

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 sets the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts now to discuss your company’s interest in leveraging 2020 migration patterns, or call us at 800.617.1904 or 480.922.0700 today.

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Categories
Buy a Home Domestic Relocation Domestic Relocation Tips Home Purchase

Relocation Mortgage Application: Top 5 Questions for Transferees

Portrait happy family sitting on couch, hugging, unpacking cardboard boxes with belongings in modern living room, looking at camera, happy wife and husband moving into new house, relocation

Many transferees seek to buy a home in their new location, and will need to submit a relocation mortgage application. GMS recommends that companies should encourage transferees to buy a home instead of renting. Transferees who buy a home establish roots in their new community and can settle in more comfortably. Also, if a company offers home purchase benefits, this sends a strong signal of commitment on their part to the transferee.

What is a Relocation Mortgage?

A relocation mortgage is an alternative mortgage product. Transferees may be eligible for benefits that will help them move and purchase a home. In some cases, employers may contribute subsidies to help cover the costs of closing. They may help transferees obtain a lower interest rate on the mortgage by paying an upfront fee, also known as paying for points.

GMS spoke with Anthony Hughes, Relocation Account Manager at Quicken Loans. Anthony agreed to share his advice and guidance for transferees who need to submit a relocation mortgage application.

Top 5 Questions for Transferees Who Plan to Submit a Relocation Mortgage Application

Anthony highlights 5 major questions that transferees must address when they are working with the dedicated team of VIP relocation mortgage bankers at Quicken Loans. Answers to these questions will provide information that is helpful for the mortgage process.

By knowing the transferee’s answers to these questions, it will help ensure the team at Quicken Loans is setting proper expectations for them from the first call through closing. Anthony states that Quicken Loans’ goal is for each transferee’s mortgage experience to be as seamless and stress free as possible during their relocation.

Relocation Mortgage Application Top 5 Questions

Question #1: Employment

  • Are you a new hire? Transferring internally?  Did you get a promotion?
  • What is your start date for your new role, what is your new role, and how much will your new income be?
  • Do you have an offer letter available to provide us?

Question #2: Timeline/Goals/Awareness

  • Have you relocated before?
  • When are you looking to have everything finalized?
  • Do you have a timeline in place?

Question #3: Departure Home versus Destination Home

  • What are your plans with your current home?
  • Do you need to sell your current home to have the funds to qualify for your new mortgage?
  • Do your benefits include a Guaranteed Buyout Option (GBO) or Buyer Value Option (BVO) that will impact your relocation mortgage application?
  • How much are you looking to spend on your new home?
  • Are you familiar with the real estate market in the new area?

Question #4: Assets

  • What assets do you have on hand?
  • What are your account balances?
  • Where are the funds coming from for your new home purchase? Proceeds? Equity advance? Cash on hand? Gift?

Question #5: Credit Report

  • What is included in the credit report?
  • What is your score?
  • Could we utilize dedicated down payment funds in a better way?

Reviewing the Answers on the Relocation Mortgage Application

Anthony shares that once Quicken Loans has reviewed these top 5 questions with a transferee, the team will provide them with details around the Quicken Loans Mortgage First program. This program enables Quicken Loans to fully underwrite the transferee’s loan prior to their first house hunting trip. Quicken Loans’ Mortgage First approval is stronger than just a traditional pre-qualification. As a result, this approval can give transferees the upper hand when making an offer on a new home.

What Does This Mean?

Transferees who want to submit a relocation mortgage application to buy a new home should review their current financial arrangements with a qualified lender. Anthony states that Quicken Loans has several informative guides to help transferees understand the relocation mortgage application process, including a “Do’s and Don’ts of Relocating to a New Home” flyer. Transferees who have a mortgage on their current home may be able to obtain another mortgage for a new home. However, this depends on their specific financial circumstances. Transferees should understand that they must be approved for the total amount of current mortgage debt and their new mortgage loan.

What Should Employers do for Transferees Who Want to Submit a Relocation Mortgage Application?

Employers with transferees looking to buy a new home should direct them to speak with qualified lenders and financial advisors for guidance. They should review their relocation policy to ensure their policy represents industry best practices and provides strong support for their talent acquisition program.

Employers should also work with an experienced and knowledgeable Relocation Management Company (RMC). By engaging the RMC early in the process, employers will be assured of all the important points that relate to the transferee’s ability to buy a new home and arrive to their new location on schedule.

Conclusion

Global Mobility Solutions’ team of domestic relocation experts has helped thousands of our clients understand how to communicate important points relating to how transferees should submit their relocation mortgage application. Our team can help your company understand how to proceed by providing guidance to transferees on obtaining important and timely information from qualified lenders and financial advisors.

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.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to discuss how to provide guidance for a transferee in submitting their relocation mortgage application, or give us a call at 800.617.1904 or 480.922.0700 today.

GMS is sharing public knowledge and can help companies more clearly understand mortgage loans for transferees. However, GMS is not a CPA firm or a lender, and is not giving financial advice. Everyone’s financial situation is different; individuals and employers should consult their lenders and financial advisors prior to making any decisions.

We're Here to Help! Request a Courtesy Consultation

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

Categories
Domestic Relocation Challenges Domestic Relocation Tips Household Goods Relocation Challenges

Ensuring a Safe Household Goods Move During COVID-19

The young Family is enjoying their new Home

If you need to schedule a household goods (HHG) move during COVID-19, you are not alone. Millions of people move every year, and the month of May is often the start of the busy moving season. In fact, May is “National Moving Month,” and the month of June is usually the busiest month for people who want to move. People who have sold their home, purchased a new one, or are moving into a new apartment during this time may not know how the current pandemic will impact their plans.

The American Moving & Storage Association (AMSA) has issued guidance for consumers to ensure safety for all involved in the moving process. Moving companies such as North American Moving Services have issued specific COVID-19 Business Continuity Plans to help everyone to remain safe during this global pandemic.

AMSA Guidance for Consumers who Move During COVID-19

For consumers who will move during COVID-19, the following guidance provides clear direction. It also includes easy steps to take to ensure everyone’s safety throughout the entire process.

  • Communication is important for everyone
    • If anyone in your home is isolating or under quarantine, call immediately to reschedule
  • Avoid the natural tendency to shake hands when you greet the moving team
    • Smile, greet warmly, and then give proper social distancing
  • Provide direct access to sinks, water, soap, paper towels, hand sanitizer, and trash bins
    • Moving teams should have additional supplies if needed
  • Always use fresh supplies of packing materials
    • Rolls of tape, packing papers, shipping and storage boxes, and any other supplies

What Does This Mean for Your Move During COVID-19?

Many GMS clients have employees, new hires, and transferees in various stages of their HHG move during COVID-19. These services are often considered essential, and people may have no other choice but to proceed with their scheduled move.

We Can Get Through This!

GMS knows this is a difficult time for everyone. However, we can and we will all get through this together. We need to focus on doing the right thing every time. Following AMSA guidance to ensure a safe HHG move during COVID-19 will provide peace of mind for the moving team and those who are moving.

What Should Employers do for Employees who Move During COVID-19?

Employers should share as much information with their employees, new hires, and transferees about how they can arrange a safe move during COVID-19 as possible. The AMSA guidance for arranging a safe move should be shared, along with any other information that may be helpful such as how they can create a video survey for their household goods prior to the move.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to share helpful information with employees, new hires, and transferees on their HHG moving process. Our team can help your company understand how to incorporate the AMSA guidance on arranging a safe HHG move during COVID-19 into your relocation program.

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

Contact our experts online to learn more about how your company can communicate the AMSA guidance on arranging a safe HHG move during COVID-19, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

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

Categories
Buy a Home Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Home Purchase Household Goods Relocation Challenges

What do Relocating Employees Moving with Children Need to Know?

Many relocating employees who are looking for a home are moving with children. According to the United States Department of Labor Bureau of Labor Statistics, over 33.6 million US families include children under the age of 18. Transferees are more likely to have a successful relocation if spouses, partners, and family members also support the decision.

What is Important for Families Moving with Children?

The National Association of Realtors® Research Group published a new report, “2019 Moving with Kids.” As a result, the findings show that among families moving with children:

  • 50% consider a neighborhood’s distance to neighborhood schools
  • 53% consider a neighborhoods’ school district quality
  • 86% purchase their home with assistance from a real estate agent

Therefore, relocating employees moving with children are likely to have these same considerations. As a result, companies should provide Pre-Decision Services for transferees to help them learn about their new relocation assignment.

Pre-Decision Services for Relocating Employees Moving with Children

Candidate assessments and family pre-decision evaluations help companies determine the relocating employee’s expectations about their new role and their level of skills. These assessments also highlight the candidate’s personal qualities, their family situation, and their financial readiness for the relocation. Specific points that are important to all family members including children should be part of this pre-decision evaluation.

The types of information that companies can provide to transferees moving with children for their decision-making process include:

  • Community highlights and detailed information for the local area
  • Tours of communities to help employees and family members become familiar with the area
  • School information and reports on schooling options
  • Cost estimates to cover all aspects of the household goods moves.
  • Comparison of the cost of living in the new location
  • Home sale information including market analysis

By providing helpful information, the organization gains several benefits including:

  • Higher job acceptance rates, satisfaction, and engagement
  • Greater budget accuracy
  • A reduction in policy exceptions
  • Significant cost savings

Also, employees and their family members gain several benefits as well:

  • Dedicated consultant as their point of contact
  • Expert counsel and assistance for all of their relocation process
  • Career and other support services for spouses and partners

What are the Questions a Realtor® asks Relocating Employees?

As noted in the NAR report, relocating employees moving with children are likely to work with a real estate agent for their home buying process. Transferees who work with a Realtor® should be ready to answer questions that will help guide the search for their new home. Some of the top questions a Realtor® asks relocating employees moving with children focus on what is most important to their home decision. Knowing that children are part of the family helps the Realtor® understand important questions to ask. The answers will provide the Realtor® with valuable insight as to the buyer’s objectives, including those of their children.

Tips to Help Relocating Employees Moving with Children Prepare for the Move

Relocating employees moving with children should prepare them for the move. An important part of this preparation is communication. Engage children early, and share as much about the move and the new location with them as possible. This will help ease the children’s minds, and help them feel important to the process. Consider giving them things to do to help them participate in the move if they are able and willing. Activities such as helping unpack, choosing colors, and deciding where their things should go are important to them. As a result, this will give children a sense of ownership and belonging. Help children learn how to meet people in their new surroundings by practicing conversation. Also, teaching games that other children play in their new school will help them build skills and expand their social network.

What Should Employers do For Relocating Employees Moving with Children?

It is important for employers with relocating employees moving with children to be sure to include the entire family in the relocation process. Pre-Decision Services should have full family participation so every member can feel they are an important part of the process. Family support is critical to the success of relocations. In our Case Study on Educational Institution Relocation Programs, we describe how our client was losing new hires due to a lack of spouse and partner career support.

The rise in demand for spouse and partner assistance shows how important family concerns are to transferees. Relocating employees moving with children often will also be moving with pets. Companies that also show consideration for the needs of a family’s pets will demonstrate their commitment to the employee and their family’s welfare.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how best to help relocating employees moving with children. Our team can help your company understand how to use family pre-decision services to identify matters of importance to all family members. As a result this will help ensure a smooth and success relocation process for the transferee and their family members.

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 who are dedicated to keeping you informed and connected. Contact our experts online to discuss how your company can enhance the relocation experience for employees moving with children, or give us a call at 800.617.1904 or 480.922.0700 today.

 

We're Here to Help! Request a Courtesy Consultation

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

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About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

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

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

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

1.800.617.1904
Available 24/7/365

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