Friday, April 29 2011
We consider Atlas Van Lines a local company here in Evansville Indiana. Even though this is true, Atlas Van Lines has worldwide contacts and offices throughout the United States and in other countries. Atlas therefore has a direct pulse to the market place and is in a very good position to make predictions on corporate as well as personal relocations. The report below will highlight the advances in the relocation market. -RT
Relocation managers across the U.S. are expressing optimism that the worst of the recession is now in the rearview mirror, according to a survey.
Responding to Atlas Van Lines' 44th annual Corporate Relocation Survey, 72 percent of the relocation managers polled say they believe their respective companies will fare better in 2011. The optimism rate among large firms surveyed jumps to 80 percent.
Data from the survey indicated that:
• Fifty-four percent of executives surveyed believe the U.S. economy will improve in 2011-the highest rate of such optimism recorded since 2006.
• Thirty percent of companies plan to relocate workers this year, the highest percentage in six years.
• Eighty-seven percent of companies will spend as much or more on relocation in 2011 as in 2010, the most since 2007.
The Midwest is now the top destination of transfers (37 percent) followed by the Northeast (31 percent), the South (28 percent) and West (20 percent). Thirty-two percent of companies say they increased the number of international relocations in 2010, with 28 percent predicting another increase in 2011.
According to Griffin, the Atlas survey has revealed trends in how corporations are moving existing employees or newly-hired staff. He said, it shows where the economy has been and where it’s headed and the view looks better than it did one year ago. The effect of economic/market pressures on entry level/new hire and middle management relocations appear to be lessening.
In 2008 and 2009, roughly 40 percent of companies say these pressures decreased relocations in these job sectors. In 2010 that percentage dropped to just above 25 percent.
Seventy-eight percent say the economy or real estate markets are the most important factors affecting relocations. While employers may be more optimistic about the economy, many of their workers remain cautious and somewhat apprehensive. Fifty-nine percent of firms say they had employees decline relocations in 2010; the third highest level in several years. Among large companies, the rate jumps to 87 percent. Three of every four companies surveyed say the number of employees declining relocation in 2010 stayed about the same as 2009, reflecting little change in workers' attitudes toward moving.
Sixty-nine percent of employees who wouldn’t move cited housing and mortgage concerns, 55 percent cited family issues and ties, and 41 percent cited their spouse’s or partner’s employment.
Twenty-seven percent of companies surveyed say that declining a relocation request usually hinders an employee's career.
2011 Survey fast facts
• Eighty-four percent of firms have a formal relocation policy.
• More than half of all relocations were new hires (53 percent).
• Employees age 36-40 remained the most frequently relocated salaried employee in 2010 (37 percent); most are male - only 19 percent of relocations involved female employees.
• Forty-five percent of relocations involved employees with children; 61 percent of those relocated were homeowners.
• Thirty-two percent of responding firms give employees just one week or less to accept a relocation offer (up 7 percent from 2010 survey).
• More than three-fourths of companies reimburse/pay to pack all items; 28 percent to move pets; 14 percent will even reimburse for moving boats.
• Among international relocations, the most frequent destination was Europe (41 percent).
Source: Atlas Van Lines http://www.talentmgt.com/industry_news/2011/April/5359/index.php