Dive Brief:
- In response to the 48th Annual Corporate Relocation Survey from Atlas Van Lines, 49% of 500 participating relocation professionals saw relocation volumes increase in 2014, and roughly half expect volumes to increase further overall and internationally in 2015.
- As volumes increase and reimbursement methods for current employees remain similar to recent years, full relocation expense reimbursement for new hires has fallen out of favor.
- On average, companies relocated 50-99 employees in 2014.
Dive Insight:
With full reimbursement for new hires losing steam, HR leaders are expected to offer more partial reimbursements or lump sums. In addition, roughly two-thirds of respondents indicate they are using alternative assignments of some type, far more than in the previous three years.
Company growth and lack of local talent tied for the top factors that impacted relocation volumes in 2014. Also, those willing to move skew young, as nearly three-fourths of those surveyed say their most frequently relocated employees are 30-40 years old, and nearly half (49%) of all relocations last year were new hires
Finally, around two-thirds of firms offer employment assistance to the spouse or partner, which is far more than in previous years, as more and more employers need to sweeten the retention pot when they ask employees to relocate.
