NorthAmerican® Van Lines has released a new research study for the Technology Industry that provides a comprehensive analysis of current relocation trends, policies, and practices within the technology sector. This detailed report is essential for business executives and HR professionals who are actively involved in shaping their organizations' 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, such as domestic, international, rotational, cross border and short-term moves, and examines the prevalence of different relocation policies like full relocation, reimbursement, and lump-sum approaches.
Relocation Program Management: Insights into how companies manage their relocation programs, whether internally, through Relocation Management Companies (RMCs), or a combination of both, are discussed. The study also explores the impact of company size and the number of locations on relocation strategies.
Vendor Management: The report provides data on the use of multiple vendors for relocation services, highlighting trends in vendor selection and management that could affect the quality and efficiency of relocation processes.
Relocation Challenges: It identifies the primary challenges faced by technology companies in relocating employees, including employee reluctance, budget constraints, and the quality of vendor services.
Goals and Department Alignment: The study delves into the goals of relocation programs, such as employee satisfaction and talent retention, and examines how these goals align across different departments within companies.
Impact of COVID-19: The document assesses how the pandemic has influenced remote work trends and its subsequent effects on the volume and nature of corporate relocations.
Future Relocation Volumes: Expectations for relocation volumes in 2023 compared to previous years are analyzed, providing forecasts that can help in planning future mobility efforts.
Summary: This report is a valuable resource for anyone involved in the planning or management of employee relocations in the technology industry, offering data-driven insights and benchmarks to inform better decision-making and enhance the effectiveness of relocation programs.