Talent Everywhere!
Last week, I attended my 10th national relocation conference in Boston, MA. I love this historic city. Everyone attending has been waiting for this conference to hear what is happening in mobility. WorldwideERC has been without a CEO since this summer when Lynn Shotwell stepped down, and the industry has had a tough time rebounding from the pandemic, remote work, and the housing market in so many ways. There was also a communication put out that the organization will be sharing a special announcement during the opening session. In most companies, HR handles relocation along with other responsibilities, but at this conference – the majority of attendees only handle relocation. This is the conference to learn about relocation from visa/immigration to real estate to household goods moves to corporate housing to destination services and more.
So here are my takeaways from the conference. Let me know what resonates with you:
1. The secret is out and WorldwideERC has announced a rebrand to “WERC” – Talent Everywhere. During the opening session, Anupam Singhal, WERC Board Chair shared there is a rebrand to focus on growth and innovation. The new logo provides a new look with different color design to show the importance of collaboration and diversity within the talent mobility community. There is now an ongoing active search for a new CEO. Once this position is filled, I am sure we will hear more about strategy and direction of the organization. More to come in 2024!
2. Relocation volumes have declined significantly was the overarching theme – companies have seen and continue to see a reduction - by 30-40% in most cases
3. Technology, AI, Innovation is all here… Companies are using technology to drive data decision making and predictive analytics. The challenge is and will continue to be cost. It’s easy to see data - but hard to see ROI! I see this increasing as we move forward.
4. One of my favorite sessions during the conference was the ESG roundtables which stands for environmental, sustainability and governance. It was interesting to hear mobility leaders share how they are looking for improvements in this area.
o For example, one company offers cash for international moves in the amount of $10,000 or they can transport their household goods abroad in a 20’ container. She shared 95% of candidates take the money - so less shipping.
o Another leader shared they provide a cleaning service at destination so the employee is no purchasing cleaning solvents and they are providing cleanliness once furniture has been delivered. There is a cost here but overshadowed by ESG focus.
o Another mobility leader shared they provide a new mattress to anyone that has not moved in last 4 years. The candidate must discard mattress at origin and they pick up a new one at destination so there is a savings in less weight for shipping cost.
This session was jam packed and everyone seemed very engaged. I only wish I could have hoped around to different tables to take more notes.
5. Mobility costs continue to increase and HR/Mobility leaders are looking for ways to reduce costs and/or leverage resources to get more out of their current program to get the right talent in place. I suspect we will see more RFPs in 2024 than we have seen in a while.
6. Companies are continuing to offer relocation, but there is a shift in delivery - core flex programs are now the favorite among mobility leaders where they can offer a core then have an assortment for other services to choose from depending on their need. Managed cap moves are getting a lot of attention to replace the lump sum which provides the employee a better experience and the company more money back that is not used ion relocation services.
7. Remote work has been the biggest reason for the increased “reluctance to relocate” mindset for many candidates and the high demand for real estate with increased mortgage interest rates makes this an even bigger challenge which creates concern for companies and candidates relocating. I don’t see this changing in 2024.
8. Lastly, companies want a direct-relationships with all of their partners and suppliers. Relocation Management Companies, Household goods moving companies, corporate housing companies, and more. There are so many upsides to having relationships and knowing all of the partners involved in a corporate relocation.
As you can see – change is always here. The mobility industry continues to move forward. What once was relocation, then mobility, and now talent everywhere focus. However, what doesn’t change is the importance of the employee relocation and delivering a great experience. It’s often challenging, it’s sometimes daunting, but so important to the family and everyone involved… and will always be our focus at The Armstrong Company with moving the household goods across the US or abroad!
So, what resonates with you? What are you seeing ahead in your organization? Share with your team and let me know if you want to take a deeper dive into these takeaways or others that you see. Glad to be a resource for you and your team!
Quote of the day: “The secret of change is to focus all of your energy, not on fighting the old, but on building the new.” -Socrates
Wishing you a wonderful holiday season and strong finish in 2023!
This is “Move to Inspire” with Bruce Waller! For more information, call 972-389-5673, or email bwaller@goarmstrong.com or check out my social media Facebook and Twitter page. Also, check out www.BruceWaller.com to review my leadership books “Life in the Leadership Lane”, “Find Your Lane” or pick up a copy of my journal “Milemarkers” to start recording your everyday. All books are available on amazon. Be sure to subscribe to my YOUTUBE channel to watch the video podcasts and other messages to help you lead in the workplace! “Life in the Leadership Lane podcast is available on your favorite podcast platform including APPLE, GOOGLE, and SPOTIFY. Interested in a book club? Join our book club “CLIMB” on Facebook.