The Only Constant in Life is Change
There are a million motivational quotes about change. One thing is certain: change is the only thing we can count on.
With every new administration in the White House comes change. So, as relocation professionals, what can we do maximize our value to customers, clients, and employers in the face of never-ending change?
“After over 35 years in the relocation industry, you would think you’ve seen it all,” says Cornerstone Relocation
Group’s Jane Malecki
, Senior Director, Global Solutions. “I certainly have seen many changes, including some fads that come and go.”
“However, what is different today for relocation professionals is that it is not enough to know the trends and raise the associated issues and solutions to your stakeholders. It’s also no longer enough to anticipate trends on the horizon or just around the bend and react to those issues. No, we have to see the changing face of how businesses will operate in the future. True, trusted advisors must create and influence the next new, big solution for mobility programs.”
Jane follows and anticipates change to offer new solutions for Cornerstone’s clients.
The messages coming out of Washington are telling us it will no longer be “business-as-usual.” This will likely create paradigm shifts in the areas of talent management and mobility programs. At Cornerstone
, we believe that our clients will need new tools in their relocation toolbox.
With the FHA rate cut on hold, new homebuyers may be entering the housing market in the U.S. at a slower pace.
If new homebuyers are not there, homeowners looking to trade up will have to wait, too. All of this will push demand lower.
In addition, more manufacturing jobs are likely to come back to the U.S.
This will change the relocation demographic to a lower-level employee versus upper/middle managers and executives.
Potential Solution: Lump-sum programs were popular in the past. We will need to dust off existing lump-sum programs and provide new options for clients.
In the international arena, changes and strict enforcement of U.S. immigration rules will have a ripple effect across all international markets.
It is clear that existing laws will be strictly enforced, and the entire immigration structure will be revisited. This could result in fewer moves into the U.S.
Current needs: All organizations with moves into the U.S. will need to be more vigilant in immigration compliance. While the intent is to address illegal immigrants, the definition appears to be very broad. Even a legal immigrant with a traffic violation may be deported.
All key dates and visa types should be reviewed with an eye towards repatriating some individuals, as well as clearly defining future needs. Visa types that worked in the past may not be an option going forward. Data integrity, pro-active monitoring and regular communication on immigration policies and procedures will be critical to stay ahead of any issues and unanticipated issues. Cornerstone is prepared to work with our clients so that answers are ready before the questions are asked.