As a relocation specialist one of the things that we watch is the trends for major relocation hot spots. Where are employees headed within or outside of the U.S? Currently the popular relocation hot spots include; Boston MA, Paris France, Los Angeles, CA, Korea and Washington DC. With more companies opening or maintaining facilities overseas we expect to see the trend for foreign relocations to grown.
Something new that we are seeing in relocation packages for employees is companies offering to cover a percentage of employee's loss on the value of their homes. The average cost to move an employee comes in around $60,000 and with the rough housing market in many locations the cost for employee relocation programs is growing. Some companies do buy the homes of employees they have requested to move but more and more are limiting that benefit to executive level employees.
So expect to see additional changes in relocation packages as the housing market slow down effects employees ability to sell their homes.
Comments(0)