UK Brexit and Relocation: Looking at Location Feasibility?
Posted by: Cindy Madden, Director, Consulting Solutions
With Brexit negotiations underway, there’s ongoing speculation as to what the final deal between the European Union (EU) and the UK may look like, and how this will impact companies’ relocation programmes and their international assignees. As part of Cartus’ Brexit series, I’ve written a Mobility Insights: Looking at Location Feasibility, which discusses the importance of a comprehensive Location Feasibility Study when approaching any relocation group move.
What is a Location Feasibility Study?
Before a company decides to move its operations to an alternative location or locations, there are a number of key questions that should be considered.
- How will a move impact a company’s financial goals in the near and long-term future?
- How will a move impact employees?
- How many of the company’s key talent will be willing to relocate?
- What is the current status and expected future trends in the local labour market and its talent availability?
- What is the current status and expected future trends for infrastructure, housing and schooling in the potential new location?
- Will the new location be suitable for the company’s corporate culture and philosophy?
A Location Feasibility Study can help answer these question and assess the suitability of a single or a range of locations, from a relocation, talent and destination point of view.
What should be included in a Location Feasibility Study?
A Location Feasibility Study should be tailored to each company’s own set of unique business needs and objectves. The study might cover analysis of labour market conditions, likely loss of talent and a shortlist of optimum locations.
Depending on what the final agreement is between the UK and the EU, we are likely to see companies take different approaches and strategies to maintain and grow their presence in EU markets. What is certain is that these decisions should not be taken lightly. A data driven, careful analysis of all contributing factors needs to drive the process. From a relocation point of view, a Location Feasibility Study offers exactly that.
To learn more about Location Feasibility Studies, read our paper Mobility Insights: Looking at Location Feasibility, or for further information about how Cartus can help you in your relocation planning for Brexit, please contact your Cartus representative or trustedguidanceEMEA@cartus.com.