Atlas® is pleased to bring you our 55th Annual Corporate Relocation Survey, the industry's first and longest-running investigation into corporate relocation policies and practices.
ATLAS® IS IN IT FOR THE LONG HAUL
As we’ve done every year since 1968, we consider the demographic, geopolitical, and economic shifts affecting our industry and analyze the findings to uncover trends to help us clearly understand the evolving challenges—and learn how we, as relocation professionals, can solve them.
Overview + Insights
WHAT IS HAPPENING:
COVID-19 remains the main external impact affecting corporate relocation. Companies appear hesitant to make drastic changes to policy until the “end” of the pandemic. Relocation volumes and budgets are on the rise, but so are pandemic-related logistical complexities.
FACTORS IMPACTING RELOCATION
The current workforce faces many tough considerations concerning relocation. For employees, COVID-19 has dropped in importance, falling behind concerns around family issues, spouse or partner employment, and cost of living. Employees are making their career decisions in a shifting economic landscape, where inflation and housing prices are major influences.
Family structure, finances, and responsibilities are also main considerations.
In 2021-2022, much of the workforce is comprised of the Gen X and Millennial generations who are dual caretakers for their own children as well as aging parents. Considerations around child care, elder care, and reliance on dual income are likely to be on these employees' minds as they seek jobs.
In addition to economic concerns, global conflict may have a significant impact on relocation in 2022 and beyond. So far in 2022, the Russia-Ukraine conflict is causing deep economic ripples internationally. As sanctions tighten and conflict continues, international relocations will likely be impacted by employees’ ability and willingness to relocate—this is especially true as most internationally relocating employees cited safety concerns around conflict as a main reason to decline relocation in 2021.
Despite many companies offering some form of spousal assistance, HR professionals report that only 1 in 5 employees accept the assistance offered. It may be the case that the assistance is insufficient.
Post-pandemic workplace management sees an ongoing reliance on hybrid working arrangements. As many employees realized the benefits of remote and hybrid work – from voluntary relocation, to increased productivity – there is ongoing favor for remote or hybrid opportunities where possible.
Given difficulties with housing, lump-sum benefits may have a reduced effectiveness for both employers and employees. Employees may lose work productivity due to a need to spend time and energy securing housing.