North American Van Lines has released a new research study for the technology industry, providing a comprehensive analysis of current relocation trends, policies, and practices within the sector. This detailed report is essential for business executives and HR professionals who are actively shaping their organization's talent acquisition and mobility strategies.
Key insights from the study include:
Types of Relocations and Policies: The study categorizes the types of relocations managed by technology companies, including domestic, international, rotational, cross-border, and short-term moves, and examines the prevalence of various relocation policies, such as complete relocation, reimbursement, and lump-sum approaches.
Relocation Program Management: The study discusses insights into how companies manage their relocation programs, whether internally, through Relocation Management Companies (RMCs), or a combination of both. It also explores the impact of company size and the number of locations on relocation strategies.
Vendor Management: The report provides data on utilizing multiple vendors for relocation services, highlighting trends in vendor selection and management that may impact the quality and efficiency of relocation processes.
Relocation Challenges: It identifies the primary challenges technology companies face in relocating employees, including employee reluctance, budget constraints, and the quality of vendor services.
Goals and Department Alignment: The study explores the objectives of relocation programs, including employee satisfaction and talent retention, and examines how these goals are aligned across various departments within companies.
Impact of COVID-19: The document assesses the pandemic's influence on remote work trends and its subsequent effects on the volume and nature of corporate relocations.
Future Relocation Volumes: Expectations for relocation volumes in 2024 compared to previous years are analyzed, providing forecasts that can help plan future mobility efforts.
Summary: This report is a valuable resource for anyone involved in planning or managing employee relocations within the technology industry. It offers data-driven insights and benchmarks to inform better decision-making and enhance the effectiveness of relocation programs.