Biggest Relocation Challenges–See What Your Mobility Peers are Saying!
With the rapid change of market issues and geopolitical situations, the world of relocation and its challenges is always shifting – and what better place to get a quick take on “what’s important now” than at the Worldwide ERC® Global Workforce Symposium held this past October in Washington, D.C. Cartus asked 116 global mobility managers and involved organizations for their take on what they expected would impact their relocation programs the most in the upcoming year, and received some surprising, and some not so surprising, responses.
Relocation Challenges Impacting Mobility Programs
- Compliance was the number-one challenge listed. Not surprising, as this echoes the results in Cartus’ two most recent benchmark surveys, where compliance issues came in second only to cost as a major challenge. Visa and immigration, tax regulations, and employee tracking all factor into the compliance area.
- The U.S. elections and the Brexit decision ranked number two and three, respectively. Not surprising, seeing that the impact of Brexit on world markets certainly fueled the anticipation that the U.S. election had the potential to do the same.
- The U.S. real estate market ranked number four. While markets have improved or stabilized overall, pockets across the country exist where home sales and/or prices are still lagging behind expectations. Any change in the markets – up or down – is always a factor to be reckoned with for relocation programs.
- Terrorism was ranked number five, and fairly low relative to the other concerns. This is most likely a reflection of the fact that, while the prevalence of terrorist activity is foremost in many people’s minds, companies have been actively implementing safety measures to protect their employees for some time. Everything from evacuation plans, updated traveler lists, and security briefings have boosted reaction time and positive outcomes, while improved information on potential ‘unsafe’ areas has also enabled companies to minimize risks.
Additional Resources for Relocation Managers
For further reading on these topics, take a look at these recent Cartus blog posts.
- For more information on compliance, including payroll, tax, immigration, and data security, and the challenges facing relocation managers, read our post How Companies are Raising Compliance Awareness.
- For a look at the immediate impact the Brexit vote has had on both the UK residential sales and rental markets read our post UK Relocation: Brexit and the UK Property Market.
- For an update on U.S. market trends, including home sale prices, housing inventory, job growth, and the U.S. rental market in our post Relocation in the U.S.: Home Sales Relax, Robust Job Growth, and Low Mortgage Rates
- For more details on the biggest challenges facing global relocation managers and their relocating employees, and what companies are doing in response, download our Trends in Global Relocation: Biggest Challenges survey.