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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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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Relocation Challenges Talent Mobility

Domestic Short Term Assignments: What You Should Know

Many companies are using domestic short term assignments to strategically respond to corporate growth initiatives. Some business opportunities may only require a limited focus for a specific length of time. Often companies have current employees with knowledge and experience who can effectively contribute in various capacities. The IRS defines a temporary assignment or job as lasting for one year or less.

For example, the healthcare industry increasingly uses domestic short term assignments. These roles help the industry meet the challenge of hiring and keeping talent with high levels of skills. Many of these employees enjoy going to new locations on a regular basis and thrive in the excitement and adventure of domestic short term assignments.

By leveraging its current pool of talent, a company can quickly respond to changing priorities. Also, it can place a greater focus on growth initiatives rather than recruiting for new hires.

What are the Benefits?

Company Benefits of Domestic Short Term Assignments

There are many benefits for companies that can leverage domestic short term assignments. Issues relating to skills, training, and costs can be effectively addressed, often without having to incur significant costs:

  • Easier to Attract Talent Interested in Challenging Assignments
  • Gap in Skills is Effectively Closed as Employee Fills Role and Provides Training
  • Productivity Increases
  • Talent Acquisition Costs are Reduced or Eliminated

Employee Benefits of Domestic Short Term Assignments

An employee who fills a short term assignment also benefits in several ways. Often, the employee gains problem-solving skills and they will increase their ability to communicate across the organization. From a teamwork standpoint, the employee may inspire others to participate in finding solutions:

  • Experience Increases
  • Leadership Potential Rises
  • Morale Increases with Recognition for Assignment and Achievement
  • Network of Mentors and Peers Expands

What Does This Mean?

Companies that offer domestic short term assignments often gain a significant number of benefits. They can respond quickly and effectively to changing business priorities. Additionally, they can save talent acquisition costs and close skills gaps with placement and training.

Employees also gain many benefits by taking these positions. Their skill levels increase, and they can expand their network of mentors and peers in the organization. As a result, their leadership potential rises and their productivity increases.

What Should Employers do About Domestic Short Term Assignments?

Employers with transferees that fill domestic short term assignments should work with a qualified and experienced Relocation Management Company (RMC). Often the company’s relocation policy focuses on benefits and programs for employees and family members moving to a new location.

However, employees that fill domestic short term assignments will need a different range of benefits and support, since they will return to their home after the assignment is complete. They may need assistance with travel, temporary housing options, or transportation solutions while at the new location.

Companies should review their relocation policy to ensure it follows industry best practices for relocation benefits provided to employees who take domestic short term assignments. GMS tailors each client’s program based on specific budgets, needs, and compliance. As a result, clients can offer an industry-leading relocation program designed to fully meet the needs of these employees. This helps ensure successful assignments and increases employee satisfaction.

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 benefits provided for domestic short term assignments in their relocation program compare to those offered by competitors in their specific industry.

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 domestic short term assignments.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to leverage domestic short term assignments to meet corporate objectives. Our team can help your company design a relocation policy that provides the best experience for employees during their temporary assignments.

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 how your company can leverage domestic short term assignments to meet corporate objectives, or give us a call at 800.617.1904 or 480.922.0700 today.

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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?

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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Global Mobility Global Relocation Global Relocation Tips Global Relocation Trends Talent Mobility Visas and International Travel

What is the European Employment Strategy?

Companies with an interest in global growth should investigate the European employment strategy. In 1997, European Union (EU) member states worked to establish joint objectives and goals for the EU’s policy on employment. The goal is to create a greater number of jobs throughout the EU, and to ensure they are good jobs with potential for growth. The European employment strategy is part of the larger decade-long Europe 2020 strategy.

What is the Europe 2020 Strategy?

The Europe 2020 strategy set the EU’s agenda for growth and jobs to be achieved by 2020. Goals of the strategy are:

  1. Improve the EU’s global competitiveness
  2. Enhance worker productivity
  3. Create a foundation for a sustainable social market economy
  4. Overcome the region’s structural economic weakness

National Targets Support the European Employment Strategy

Each EU member state has the same national targets covering jobs, energy, poverty, and other measures. Many of the measures support the European employment strategy. Targets related to jobs, education, and investment include:

  1. 75% employment for those aged 20-64 to support the European employment strategy
  2. Investment in research and development at 3% of the member state’s Gross Domestic Product
  3. 40% or more of the population in the age range of 30-34 having degrees in higher education

EU member states provide data to the EU to report on their progress. As a result, progress reports have a wealth of information showing how each state is performing to the targets.

Leveraging the European Employment Strategy across 28 Member States

EU employment law protects worker rights across all of the region. However, within each member state, the employment laws often work differently. As a result, companies looking for growth in the EU must navigate differences and nuances in employment law across 28 member states. Navigating so many different member state laws can be challenging. Also, it may require a significant amount of resources to set up entities in any given region. Administrative resources must be in place to ensure compliance with EU and member state laws.

What Should Employers do About the European Employment Strategy?

Companies currently in the EU that want to leverage the European employment strategy should look into the various member state employment laws to ensure compliance. They should also look into several support programs for job creation. EU Structural Funds are in place to support employment growth, including:

  1. European Regional Development Fund

Promotes jobs at the provincial level and increases regional labor market attractiveness.

  1. European Social Fund

Supports job growth at companies and organizations, as well as new job creation. Develops resources to help workers find jobs.

Companies not currently in the EU that want to grow quickly should look into the services of an International Professional Employer Organization (PEO). International PEOs provide an employer of record solution for companies to expand quickly into new markets. The PEO will manage all aspects of the employment relationship in the EU, from onboarding to pension arrangements. Companies may be able to achieve significant savings compared to the cost of setting up their own foreign entity in the EU.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to grow their company’s international employment. Our team can also help your company understand how to work with an International PEO. Whether through global relocation or the services of an International PEO, our team can help your company leverage the European employment strategy.

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 leveraging the European employment strategy, or give us a call at 800.617.1904 or 480.922.0700 today.

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Global Relocation Challenges Global Relocation Tips Global Relocation Trends Immigration Rules Talent Mobility Visas and International Travel

USCIS Revises EB-5 Immigrant Investor Program

A new rule from the U.S. Department of Homeland Security to change the employment-based EB-5 Immigrant Investor Program will take effect on November 21, 2019. The rule includes a number of changes meant to modernize the program. The rule originated prior to the current Administration. As a result, immigrant investors should take note to determine if they must take action related to their EB-5 petition.

Employment-Based Immigration Preferences

The EB-5 Immigrant Investor Program is one of several employment-based immigration preferences that the U.S. Citizenship and Immigration Services (USCIS) administers. These employment-based immigration preferences include:

  • First Preference EB-1: for persons of extraordinary skill and ability
  • Second Preference EB-2: for persons of extraordinary skill and ability, requires Labor Certification (unless petitioner obtains waiver)
  • Third Preference EB-3: for professionals, skilled workers, and other workers, requires Labor Certification
  • Fourth Preference EB-4: for “special immigrants” including religious workers
  • Fifth Preference EB-5: for business investors

What are the Requirements of the EB-5 Immigrant Investor Program?

The USCIS administers the EB-5 Immigrant Investor Program. Within this program, immigrant investors, as well as their spouses and children, become eligible to apply for a Green Card (permanent residence in the US) as long as the following conditions are met:

  1. Invest in a commercial operation as per the program’s requirements
  2. Plan to create or allow the preservation of up to 10 permanent full-time jobs

The EB-5 Immigrant Investor Program was created by the US Congress as one part of broader economic stimulus initiatives in 1990. The program was meant to help counteract the effects of the US economic recession during that time period.

EB-5 Immigrant Investor Program Results

The current EB-5 Immigrant Investor Program accounts for a significant amount of direct economic investment. The American Action Forum notes that immigrant investors account for:

  • Up to $20 billion in investments in the US economy since 2008
  • Over $5 billion in investments during 2017
  • Creation of over 174,000 jobs, equating to 16 jobs for each investor (60% more than the program requires)

Changes to the EB-5 Immigrant Investor Program

USCIS will implement five distinct changes. These changes will update the program and clarify processes and procedures:

  1. Increase minimum investment amounts from $1 million to $1.8 million.
  2. Increase minimum investment amounts in a Targeted Employment Area (TEA) from $500,000 to $900,000.
  3. Tie minimum investment amounts to inflation with the Consumer Price Index for All Urban Consumers (CPI-U), at five-year intervals.
  4. Allow certain investors to keep the priority date of their previously approved EB-5 petition when they file a new petition.
  5. Clarify rules on when family members must independently file to remove conditions on their permanent residence.
  6. Change certain TEA designations in order to direct investment to those areas that are in most need of the program.
  7. Increase consistency of definitions for areas of high unemployment.

What Does This Mean?

Immigrant Investors with EB-5 petitions on file should review the new requirements to determine if changes to their petition might be necessary. Also, immigrants looking at filing an EB-5 petition should be aware of the new requirements. Companies that are currently planning for investments as a result of the EB-5 Immigrant Investor Program should take note of the new rule’s minimum investment amounts as well as TEA designations.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients manage their visa requirements. Our team can help your company understand the EB-5 Immigrant Investor Program requirements and how it might benefit your company’s corporate objectives.

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 interest in learning more about the EB-5 Immigrant Investor Program, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

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Global Mobility Global Relocation Trends Immigration Rules Job Market Job Seekers Labor Force Talent Management Talent Mobility Visas and International Travel

Toronto Tech Talent Ranking Rises to Third Spot

CBRE’s annual “Scoring Tech Talent Report” shows Toronto tech talent ranks at #3 in the top fifty U.S. and Canadian cities for tech workers. The report measures cities based on several criteria, including:

  1. Job Growth
  2. Supply of Talent
  3. Tech Degrees Awarded to Graduates

CBRE is a worldwide leader in real estate services that traces its roots to San Francisco, California, in the year 1906. Over time, the company formed CB Commercial, acquired REI Limited (the international division of Richard Ellis), and continued growing to become CB Richard Ellis, also known as CBRE. CBRE Group, Inc. is the largest commercial real estate services company and investment firm in the world.

Growth in Toronto Tech Talent

Over the past five years, Toronto tech talent rose at the fastest rate of all cites in the ranking. The report notes that 80,100 new tech jobs have been created in Toronto, indicating a 54% rate of increase. The top six tech companies in Toronto are:

  1. Ecobee
  2. Top Hat
  3. Shopify
  4. Ubisoft
  5. Cisco
  6. Oracle

Highlight on Toronto Tech Talent at Ecobee

Ecobee was founded in 2007 and has become a market leader in home automation. Products include smart thermostats that conserve energy and help customers reduce their heating and cooling bills. This market is expected to experience a Compound Annual Growth Rate (CAGR) of 23.1% for the time period 2019-2024.

As a result, the market growth rate will increase demand for Ecobee’s products, in turn creating greater demand for Toronto tech talent. Ecobee currently lists several career opportunities in fields such as product technology, software development, engineering, account management, and technical support. Ecobee products interact with other smart home products such as Amazon’s Alexa. In order to interact with Alexa, Ecobee developers must learn how to connect with the service, or integrate it directly into the company’s products such as the Ecobee4 Smart Thermostat.

Toronto Tech Talent Grows with Canada’s Global Talent Stream

One reason that Toronto tech talent has been able to grow as fast as it has is due to Canada’s Global Talent Stream. This program is part of the nation’s Global Skills Strategy, designed to help companies grow by ensuring a ready pool of qualified talent. Eligible workers can start work in Canada at a faster pace with two-week processing of work permit applications. Global Talent Stream program eligibility requirements for employers include:

Category A

  1. Referral by a Stream Designated Partner
  2. Hiring of talent noted as unique and specialized

Category B

  1. Hiring highly-skilled foreign workers for jobs noted on the Global Talent Occupations List

What Does This Mean?

Canada actively seeks to encourage immigration of highly-skilled foreign workers to the country. The nation believes its future success is highly dependent on welcoming immigrants, as well as ensuring they fully integrate into society. Ontario, where Toronto is located, also focuses on attracting skilled workers to smaller cities and towns throughout the province.

Tech industry companies benefit from the nation’s progressive immigration policies. As a result of these policies, Toronto tech talent will continue to grow. Also, a pool of qualified workers is readily available to support corporate growth initiatives.

What Should Employers do to Leverage Toronto Tech Talent?

Employers in Toronto should review their company’s growth plans and requirements for tech industry jobs. They should also review their talent acquisition and management programs. This will help ensure these programs align with a growing number of highly skilled foreign workers.

Employers outside of Toronto should investigate the services of an International PEO. Relocation Management Companies (RMCs) can provide expert assistance to employers looking to expand their corporate presence in Canada.

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 benefit from Canada’s focus on increasing Toronto tech talent.

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. Contact our experts online to discuss your company’s interest in benefiting from the growth of Toronto tech talent, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

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Employee Development Job Market Job Seekers Labor Force Talent Management Talent Mobility

How Can a Company Build an Inclusive Workforce?

Companies need to build an inclusive workforce in order to grow and meet corporate objectives. As of May 2019, there are over 7.3 million job openings in the United States. However, in June 2019, the United States Department of Labor’s Bureau of Labor Statistics reports that the official US unemployment rate is 3.7%. With so many job openings and such a low unemployment rate, companies need to look beyond traditional hiring methods to be successful.

Innovative Ways to Build an Inclusive Workforce

Building an inclusive workforce is not an insurmountable task. Often a company can be successful by expanding its use of various channels to broadcast hiring needs. Social media has risen in prominence as a strong platform for talent recruiting and acquisition.

Alternatively, a company might focus on shaping its cultural values towards an expansive view of its workforce. In turn, the company would benefit in many unique and helpful ways from the skills and experiences of various workforce populations. For example, some employees may be familiar with the countries and cultures of South America. As a result, they may contribute many helpful ideas to companies looking to expand in this region.

Top 5 Ways a Company can Build an Inclusive Workforce

1.Talent Acquisition Programs

Companies should review their talent acquisition program to ensure it is following industry best practices. In order to recruit top talent in a tight labor market, social media has become one of the most widely used platforms for recruitment. In fact, recruiting socially lets companies create an experience so people want to move to join their culture and environment. Companies that focus on creating a positive brand generate more interest among job seekers.

The Society for Human Resource Management’s survey of HR professionals also reports that over 30% of companies are working to leverage smartphones in their recruiting efforts. The divergence of desktop, laptop, tablet, and smartphone usage across regions and demographic groups is striking:

  • Europe maintains consistent use of PCs, laptops, and smartphones
  • Outside of Europe, PC and laptop use is declining
  • Asia leads in smartphone usage versus PCs
  • Tablets are more popular with older users
  • The increase in mobile-friendly applications is turning users away from PCs and consoles

2. Training and Apprenticeship Programs

Many companies have unique needs for specific skills across a variety of jobs. These companies benefit from well-defined training and development programs. Other companies may be in industries where apprenticeship programs are in place to ensure workers become qualified to perform their job, such as a nuclear plant technician.

Countries such as Australia have taken action to ensure funds are made available to train workers in skills and apprenticeships. All of these training and apprenticeship programs can be designed to promote an inclusive workforce.

3. Hire Workers Across Multiple Generations

The recent trend to hire employees with significant experience is continuing to add diversity to the workforce. To build a truly inclusive workforce, companies should examine their job outreach efforts to workers across generations. Baby Boomers in particular have been increasing both in total number of employees and as a percentage of new hires. There are several advantages for companies that hire older workers:

  • Older workers are often better educated than their younger counterparts
  • Today’s generation of older workers are much more health conscious with long life expectancy
  • They have unique insight into the market preferences of their peers
  • Mobile gaming is turning users away from PCs and consoles

4. Workers With Past Issues

Companies that expand their diversity and inclusion initiatives often see significant results. Specifically, research by McKinsey & Company has shown that:

  • Top performing companies exhibit higher diversity on executive teams
  • Diverse leadership teams help create higher financial performance
  • Higher performing companies show higher levels of diversity

Companies can focus on various levels of diversity to build an inclusive workforce. Basic diversity may include age, nationality, gender, and race. However, more expansive and deeper diversity can greatly expand a company’s talent pool. Companies that are truly in tune with their markets may find that it helps them to embrace expansive diversity, such as:

  • Lifestyles
  • Cultural Influences
  • Sexual Orientation
  • Mental/Physical Abilities

Hiring Employees with Past Issues

One additional area that might be considered is hiring employees with a criminal history. 35 US states and over 150 municipalities have enacted “ban-the-box” laws to help promote fair hiring policies. These laws require employers to consider a job candidate’s qualifications first, without consideration of any prior conviction or arrest record. These laws may help prevent discrimination against those with past issues who might otherwise be qualified for the position.

Only upon offering a position can a company inquire about a criminal history or convictions. Also, the mere presence of a record would not automatically disqualify a candidate from a job. As a result, candidates for positions that are not in any way related to their prior conviction may still be eligible for hiring, to prevent discrimination in the workplace.

It is important for companies to always focus on fair hiring practices as they build an inclusive workforce. Also, they should consult with employment law attorneys for guidance to be sure all federal, state, and local laws have been reviewed for compliance. Companies that might benefit from hiring someone with past convictions such as Martha Stewart are able to look past her criminal history and recognize the tremendous value she may be able to contribute.

5. Global Relocation

With talent shortages prevalent across several nations, competition for qualified employees may be fierce. Currently, the financial and business service industries are most at risk due to the extreme talent shortage. Companies that find it difficult to hire and recruit for positions should highlight their relocation program’s benefits in all of their recruiting materials.

The future of finding talent is through global, mobile, and technological means. In fact, employees themselves often seek positions that offer international assignment opportunities. Economic growth in places such as China, the United Arab Emirates, and Canada drives significant demand for talented workers.

What Should Employers do to Build an Inclusive Workforce?

Employers seeking to build an inclusive workforce have several avenues they can pursue. Importantly, companies should examine their culture and plans for future growth to determine how to proceed with their diversity and inclusion initiatives. Corporate expansion plans, mergers and acquisitions, and product development plans should all be considered as potential drivers for inclusive workforce development.

Companies considering relocation for new hires or transferees should review their relocation programs. This will help ensure they have a competitive advantage. Also, it will ensure their program provides the highest level of relocation benefits and services for their employees.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees throughout the world. Our team can help your company determine how to build an inclusive workforce by leveraging your company’s unique culture, training, and talent acquisition programs.

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.

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 your company’s interest in relocation programs that build an inclusive workforce, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Talent Mobility Visas and International Travel

New Saudi Arabia Immigration Law Enables Foreign Nationals to Obtain Special Privilege Iqama Status

A new Saudi Arabia immigration law that the Saudi Shura Council voted in favor of lets foreign nationals obtain residence status known as Special Privilege Iqama. This status is similar to the Green Card immigration plan in the United States. Officially known as a Permanent Resident Card, those having a Green Card can live and work permanently in the United States.

Saudi Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi stated that foreign nationals will receive Special Privilege Iqama only if they meet eligibility requirements and meet specific criteria. The new law received Cabinet approval, issuing its landmark decision after reviewing the Council of Economic and Development Affairs recommendation.

Saudi Arabia Special Privilege Iqama Immigration Law: Labor Market Competition

Saudi Arabia nationals have noted some concerns about whether they would need to compete against foreign nationals who participate in and benefit from the new Saudi Arabia immigration law. Minister Al-Qassabi emphasized the kingdom is highly focused in its approach. As a result, foreign nationals eligible to participate include:

  1. Specific category of investors
  2. Holders of residence status who will add value

By focusing its approach, foreign nationals who obtain Special Privilege Iqama Status will not compete against Saudi citizens for jobs.

Special Privilege Iqama Choices

Foreign nationals can apply for and obtain Special Privilege Iqama status. To obtain this status, foreign nationals must meet specific qualifications and:

  1. Choose between annual renewable status or permanent residency status
  2. Pay a requisite fee that varies depending on choice of status
    1. Permanent status requires a higher one-time fee
    2. One-year annual renewable status will cost SR100,000 ($26,666)
    3. Permanent residency status will cost SR800,000 ($213,333)

Those granted Special Privilege Iqama gain the right to live, work, own businesses, and own property in the Kingdom. Expatriates will have equal rights to Saudi citizens except for actual citizenship, and access to services such as schools and government-provided healthcare.

Why is Saudi Arabia Creating Special Privilege Iqama?

In a word, economy. Saudi Arabia’s creation of this program came about as a part of a plan to reduce the kingdom’s reliance on oil and increase foreign direct investment. This effort will help the economy diversify into many new markets. New business investment will strengthen the kingdom’s revenue and support economic growth.

In 2016, Crown Prince Mohammed bin Salman unveiled Vision 2030, a wide ranging plan to reduce government expenditures and increase foreign and domestic investment. This plan is expected to transform Saudi Arabia from a nation dependent on oil, to one with a diverse, private-sector-driven economy. Special Privilege Iqama status helps the private sector quickly add qualified employees.

What is Vision 2030?

Vision 2030 is an ambitious blueprint to transform the Saudi Arabia economy, with three main pillars and thirteen distinct programs.

Pillars

  1. Saudi Arabia’s status as the heart of the Arab and Islamic worlds
  2. Determination to become a global investment powerhouse
  3. Transforming Saudi Arabia into a global hub connecting Africa, Asia, and Europe

Programs

  1. Quality of Life
  2. Financial Sector Development
  3. Housing
  4. Fiscal Balance
  5. National Transformation
  6. Public Investment Fund
  7. Privatization
  8. National Companies Promotion
  9. National Industrial Development and Logistics
  10. Strategic Partner
  11. Hajj and Omrah
  12. Human Capital Development (in conjunction with Special Privilege Iqama)
  13. National Character Enrichment

What Does This Mean?

Companies operating in Saudi Arabia should expect to see an increase in foreign nationals looking to obtain Special Privilege Iqama status. They should look into regulations and program management that will be administered by a new Special Privilege Iqama Center.

Foreign nationals looking to obtain Special Privilege Iqama status in Saudi Arabia should inquire about the new immigration law.

Employers not currently in Saudi Arabia might consider the kingdom as a strategic location for corporate expansion and business investment. The services of an International Professional Employer Organization (PEO) may be useful to help an employer enter Saudi Arabia and quickly test the local market.

What Should Employers do About Special Privilege Iqama?

Employers in Saudi Arabia should review their company’s growth plans and requirements for jobs across all levels of skill sets. They should also determine how their company’s growth plans will impact the jobs required to meet business plans and goals. The new Saudi Arabia immigration law and development of Special Privilege Iqama are designed to help transform the kingdom’s economy. As a result, employers should review their talent acquisition and management programs to ensure they align with a growing number of Special Privilege Iqama status holders.

Employers outside of Saudi Arabia should investigate the services of an International PEO. Relocation Management Companies (RMCs) can provide expert assistance to employers looking to expand their corporate presence and business investment to Saudi Arabia.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees in remote and challenging locations. Our team can help your company determine how to benefit as Saudi Arabia implements its new Special Privilege Iqama status.

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 for Saudi Arabia as a result of its new Special Privilege Iqama status, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

Categories
Job Market Job Seekers Labor Force Talent Mobility

What are the Fastest Growing Louisiana Jobs?

What are the fastest growing Louisiana jobs? Many job seekers look to find opportunities in regions that experience positive economic growth. Louisiana’s economy appears to be well-positioned for the coming year, according to attendee’s at the Advocate’s 2019 Economic Outlook Summit.

In general, attendees cited the following factors causing favorable headwinds for Louisiana:

  • $90 billion investments by petrochemical and liquefied natural gas firms
  • Lowest electricity rates in the nation
  • Rising home prices and residential inventory
  • Technology industry investments

Recovery from the impact of 2005’s Hurricane Katrina has seen Louisiana rebound with population growth and economic activity. Currently Louisiana and the surrounding region have seen an increasing number of jobs. Also, New Orleans continues to attract business investment, with over $7 billion in recent investment and over 14,000 new jobs.

The Southeast region as a whole continues to experience high economic growth, including Louisiana. Louisiana’s most desirable places to live include cities such as New Orleans, Lafayette, and Metairie.

Fastest Growing Louisiana Jobs

Any list of the fastest growing Louisiana jobs is subject to change, depending on economic factors including industrial production, global trade, and weather patterns (especially for Louisiana). Recent studies show the fastest growth in these Louisiana jobs:

Business Information Jobs

  • Business Analysts
  • Operations Analysts

Information Technology Jobs

  • Website Developers
  • Software Developers
  • Software Engineers

Healthcare and Medical Jobs

  • Personal Care Assistants
  • Physical Therapists
  • Home Health Aides
  • Physical Therapy Aides
  • Veterinary Technicians

Highlight on Industries in New Orleans, Louisiana

The largest industries in New Orleans include:

  • Health Care
  • Energy
  • Transportation and Shipping
  • Film and Television Production
  • Leisure and Hospitality

Types of Fastest Growing Louisiana Jobs

New Orleans has great diversity in its industrial sectors. Louisiana jobs in Health Care, Energy, and Film and Television Production require a wide range of education and experience.

In the energy sector, Entergy Corporation is a Fortune 500 company with headquarters located in New Orleans. Entergy is a fully integrated energy company that produces electric power for distribution throughout the Southern part of the nation. Entergy’s Louisiana jobs in New Orleans include:

  • Transmission Specialist
  • Engineer
  • Auditor
  • IT Analyst
  • Organizational Transformation Analyst

Ochsner Health System is Louisiana’s largest non-profit, academic, healthcare system. Ochsner administers 40 owned, managed, and affiliated hospitals as well as over 100 health and urgent care centers. The organization is also one of the nation’s largest non-university based academic medical centers, offering a significant number of medical education programs. Ochsner’s Louisiana jobs in New Orleans include:

  • Clinical Pharmacist
  • Registered Nurse
  • Physical Therapist
  • Sports Medicine Assistant
  • Social Worker

What Should Louisiana Job Seekers do to Find the Fastest Growing Louisiana Jobs?

Louisiana job seekers should investigate the state for opportunities. A number of resources are available to learn about jobs and careers in Louisiana. Professional networks such as Linkedin provide information on companies and contacts. Job seekers may want to focus on the specific location of New Orleans, and then narrow down their search by industry in New Orleans to specific job type. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

What Should Employers do to Fill the Fastest Growing Louisiana Jobs?

Louisiana 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. 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. Exciting cities such as New Orleans that draw many visitors also need job seekers to fill local employment opportunities in other industries.

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 prospects looking for Louisiana jobs.

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 for the fastest growing Louisiana jobs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

What are the Countries That Rank High for Ease of Doing Business in 2019?

In its annual report on the ease of doing business in 2019, the World Bank Group provides a ranking for 190 countries. This ranking reflects quantitative measures on several important business indicators. For example, regulations, protection of property rights, and access to capital are important for businesses to be able to grow and expand markets.

Business Regulation

The 11 specific areas impacting ease of doing business in 2019 that the report covers are:

  1. Labor market regulations
  2. Business startup requirements
  3. Credit availability
  4. Ease of construction including permits
  5. Taxes, rates, and payments
  6. Protections for minority investors
  7. Contract enforcement
  8. Access to utilities such as electricity
  9. Property registration
  10. Cross-border trade
  11. Resolving bankruptcy and insolvency

What does Ease of Doing Business in 2019 Mean?

Across the 11 specific areas impacting ease of doing business in 2019, the World Bank Group notes a number of differences. Some indicators give a higher score for more regulation when it provides for institutions that function better for business activities. For example, a country will receive a higher score in one indicator if it has stricter requirements for related-party transactions that in turn protect minority investors.

What does Ease of Doing Business in 2019 not Include?

The World Bank Group states that the ranking does not account for several important areas. Some of these factors may have a significant impact on business activity. Some factors that the report does not include:

  • Labor force quality measures
  • Infrastructure inadequacies (lack of access to rail, air, ocean, or road transport options)
  • Communication limitations (lack of access to internet, phone, cable, communication options)
  • Financial system development
  • Security issues
  • Costs of tariffs
  • Size of market
  • Pervasiveness of bribery and corruption
  • Costs of international transportation
  • Macroeconomic stability

Top 10 Countries that Rank High for Ease of Doing Business in 2019

The top 10 countries that rank high for ease of business in 2019, and their rank, are:

  1. New Zealand
  2. Singapore
  3. Denmark
  4. Hong Kong SAR (Special Administrative Region), China
  5. Korea, Republic of (South Korea)
  6. Georgia
  7. Norway
  8. United States
  9. United Kingdom
  10. Macedonia, FYR (Former Yugoslav Republic, recently renamed in 2018 to Republic of Northern Macedonia)

New Zealand’s Ease of Doing Business in 2019

The New Zealand economy is stable and robust, with many thriving sectors and a stable system of government, finance, and markets. However, it ranks as only the 53rd largest in the world. The service sector contributes 63% of the country’s Gross Domestic Product (GDP). The largest industries in New Zealand are:

  • Agriculture, including beef cattle, dairy farming, sheep farming
  • Fishing, including trout, oysters, salmon, mussels (often raised at aquaculture farms)
  • Forestry, including timber for the paper-making industries
  • Horticulture, including fruits, wheat, vegetables
  • Mining, including iron ore, silver, gold, coal, limestone

What Does This Mean for Ease of Doing Business in 2019?

Employers in countries that rank high for ease of doing business in 2019 benefit from policies and structures that promote business activity and growth. Growing businesses tend to generate a number of job opportunities. Local communities grow in population and support services and businesses benefit as main industry sectors continue to expand. Demand for employees may be strong, with several solutions such as immigration and favorable provisions for foreign job seekers. Several countries that rank high for ease of doing business in 2019 also rank high as one of the world’s best countries on a number of measures.

What should Employers do?

Employers in countries that rank high for ease of doing business in 2019 should review their company’s growth plans and requirements for jobs across all levels of skill sets. They should also determine how their company’s growth plans will impact the jobs required to meet business plans and goals.

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. Also, RMCs can provide guidance on using the services of International PEO to help companies quickly expand into countries that rank high for ease of doing business in 2019.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees to help your company increase its ease of doing business in 2019. As a result, our team can help your company determine how to attract and retain new hires for talent acquisition and management programs.

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 program needs, or call us at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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