Why employees want to relocate Article by Shirien Elamawy

4 Apr 2015

Why employees want to relocate  Article by Shirien Elamawy

According to a study by the job website, Monster, three-quarters of international workers, including about 48 percent of American respondents, were agreeable to being transferred if the “job of their dreams” was involved. While 23 percent wouldn’t accept a transfer for any reason, 32 percent of respondents would even be willing to move halfway around the world.

A breakdown of respondents from another study showed that 77 percent of workers who transferred during the previous year were pleased with the move, reporting benefits including making a fresh start (30 percent), new experiences unavailable elsewhere (29 percent) and higher earnings (27 percent).

Millennials’ making changes

Younger workers (dubbed the “Millennials”) who are beginning their careers are more adventurous, flexible and open to living and working in new locales and often see it as a necessary requirement for career promotions and development.

Millennials tend to be renters; therefore the relocation packages are less expensive than that traditional of traditional expats.

Savvy organizations know that it’s important to get the ‘new hires’ off to a good start if a transfer is in the immediate offering, as this will color their experience with that company. As a result, many companies hiring younger workers are turning to offering less traditional, more flexible benefits packages for the newly hired transferees.

I win, you win

The flexible concept is working well for other transferees higher on the job ladder, as are tiered plans that offer fair relocation packages to employees at all levels. 12 percent of companies surveyed in a 2013 employee mobility study, offer plans with basic or core benefits including final move costs, temporary housing, and house-hunting, are covered, with additional benefits such as guaranteed home purchases or miscellaneous expenses, offered cafeteria-style as the transferee desires.

While the US economy is gradually improving, job markets in many areas are still extremely competitive, making the idea of looking elsewhere for work more attractive than ever. As a result, 44 percent of American workers indicated a willingness to relocate if the right job opportunity came along, according to a Career Builder study. 20 percent of workers who were laid off during a previous twelve months found new employment after relocating to a new state or city, according to the study.

On the flip side, there are also many employers who are willing to bring needed talent to their location, with 32 percent willing to pay relocation costs. Another 19 percent were willing to offer a smaller salary during the first year for a relocation signing bonus.dream-job