Increase in Corporate Relocations

As the economy show signs of recovery, one of the industries that is frequently in the news is the housing market. As companies are starting to hire again, one of the statistics that is showing their confidence is the number of employees that being relocated.

In 2011 a survey was conducted of 118 families. These companies transferred an average of 364 employees in 2011 in comparison with only 287 in 2009. The numbers include both current employees and new hires. Moving companies are directly impacted by these numbers as they see their individual profits rise with the influx of transfers.

The cost of moving employees has increased during these same years. Those who are in the highest paying jobs are the ones most likely to receive their employer’s help not only in moving, but also in selling their existing home. These corporate moves are often conducted within a short timeframe which can also increase the cost of the total move. Other employees are finding that corporations are giving them less time to decide about accepting a transfer and less financial assistance to complete the move. Some find it is easier to rent at their new location rather than make a quick decision on purchasing a house.

The overall increase in relocations is a positive sign for the economy. Some regional areas like southwest Ohio are mirroring that trend with the region expecting a 20 percent increase in the current year. Moving companies and employees across the nation are hoping that the uptick in employee relocations continues to indicate positive news for the overall economy.

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pkobering

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