Reluctance to Relocate Down, U.S. Transfer Volume Trending Up
Cartus is proud to have sponsored the 2015 Worldwide ERC® U.S. Transfer Volume and Cost survey, which examines trends in U.S. relocation volume, mobility policy and practices, and the costs of corporate relocation within the U.S. With economic indicators like low unemployment, rising consumer confidence, and existing home sales at their highest pace in years, the growth of relocation in the U.S. looks positive.
Worldwide ERC® shared some excerpts of the survey findings in their September issue of MOBLITY magazine, and I’ll touch on a few of the highlights. We’ll be sure to share the full results of the survey when they are ready!
- Continued upward trend in U.S. domestic transfer volume—current employee transfer activity was up four percent in 2014 over 2013, and new hire volume was up seven percent.
- Reluctance to relocate trending down—the health and stability of the U.S. housing market are no longer the main concern for a family considering a move. Only 35% of companies indicated that they experiences issues with employees relocating, down from 49% last year, 61% in 2013, and 78% in 2012.
- Costs rising for some policy components—several policy elements (bonuses/incentives for homesales, homefinding trips, purchase closing costs, spouse employment assistance, and travel and lodging) increased by four percent or more over 2013.
- Renting vs. Buying—58% of companies indicated seeing an increase over the past three years in homeowning transferees choosing to rent in the new location instead of buying a home.
You can also read more about the improving U.S. real estate markets and economic outlook, including key market trends and best practices that you and your relocating employees need to know, in Cartus’ latest U.S. Market Watch.
Please be sure to visit us at the Worldwide ERC® Global Workforce Symposium, October 7-9 in Boston, MA, Booth #312/314. We look forward to seeing you!