According to one of the nation’s leading movers, Atlas Van Lines, there were more corporate relocations in 2015 than 2014, with more expected in 2016. In response to the 49th Annual Corporate Relocation Survey, 50 percent of firms saw relocation volumes increase overall and internationally in 2015.
While relocation volumes have increased over the last few years, budgets that had been previously reduced in the recovering economy were slow to bounce back or keep pace. However, in both 2014 and 2015, nearly half of all companies indicated their relocation budgets increased, and 41 percent believe their budgets will increase again in 2016.
2016 Survey Highlights:
- Respondents cited lack of qualified local talent as the top external issue (42 percent) for relocations and company growth as the number one internal factor (39 percent).
- Forty-three percent of those surveyed say their most frequently relocated employees are under 36 years old
- Roughly two-thirds of companies are using alternative assignments of some type; 65 percent of firms continue to indicate they have a formal short- term/temporary assignment policy; 52 percent have an extended business travel policy; and 40 percent have a policy for long-distance commuters.
- For new hires, full reimbursement has fallen to the lowest levels historically (36 percent); transferees are the most likely to receive full reimbursement (55 percent) of relocation expenses.
- Firms are using lump sums and partial reimbursement at similar levels: roughly half utilize lump sums for either transferees (42 percent) or new hires (45 percent) and 38 percent use partial reimbursement for either transferees or new hires.
For complete survey results click here: 2016 Atlas survey
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