Employee relocation is expected to increase in 2018
Dharma Home Suites is an industry leader with over 10 years of experience in the corporate housing industry. Our commitment to high-quality service enables us to provide our guests with unforgettable experiences that allow them to feel just like home. In the past, we have worked with a number of business professionals who were seeking for the perfect accommodations for their relocation assignments. As an industry expert, we would like to bring a comprehensive view of relocation trends in 2018 and their impact on the corporate housing industry.
Employee Mobility Expected to Rise in 2018
In today’s economic environment, the ideals of economic expansion and growth are becoming the norm for a successful business model. As the world becomes more interconnected, enterprises are faced with the decision of business expansion. A major element involved in this decision is economic growth, which directly affects a pivotal part of a business model: employee mobility. An Atlas report showed that more than 46% of US companies relocated over 400 employees in 2015 alone.This trend continued during 2016, however, 2017 saw a minor decline in employee mobility. According to LearnLight , employee mobility for developmental assignments is expected to rise in 2018, as more companies are in an increasing need for expansion and innovation. Therefore, the corporate housing industry will be a key player in the relocation process.
Relocation assignments, most of the time, are aimed towards younger professionals. Millennials are expected to take a big role in the relocation process for 2018. Millennials are eager to take part in relocation assignments due to their global mindset and willingness to travel. Considering this environment of employee mobility and satisfaction, how should companies assists? What vital does part finding the right accommodation takes in the relocation process? For long-term assignments or relocation, companies work diligently to create relocation packages that will ease the moving process. Despite these efforts, employee hesitation persists in finding the right accommodations to fit their needs.
Corporate Housing Industry: Key to Successful Assignments
Optimal accommodations are crucial when relocating an employee, regardless of the time frame of the assignment. Employees are looking for home-like accommodations where they can have fully furnished apartments, stocked kitchens, reliable wifi, and cable. One of the amazing benefits when choosing corporate housing is that employees are able to live like locals and be in premium residential buildings, on key locations that make the commute to work feel like a breeze. Undoubtedly, having these basics elements of comfort positively impacts their work performance. In a word, corporate housing companies are the stepping stone in the relocation process. Understanding employees’ needs and providing personalized attention, are key to successful assignments.
Another significant factor when choosing corporate housing accommodations especially for millennials is finding the right company that focuses on sustainable practices. The corporate housing industry has witnessed a myriad of changes in regards to this trend, It is not only about finding the best amenities but fulfilling the customer journey by protecting the environment. These sustainable practices come in the form of using environmentally friendly cleaning products, eco-buildings, sustainable programs for water and energy , etc.
In a nutshell, the corporate housing industry will see a potential increase in bookings in 2018 due to employee mobility. Companies are blessed with the unprecedented benefits of relocation as means to business growth, new market opportunities, an increase in market share and a decrease in talent gaps. Corporate housing is the stepping stone for companies looking to relocate their employees. Therefore, it is pivotal for companies to find the right corporate housing accommodations to meet their employee’s needs. Moreover, It is not only about finding a well-furnished apartment but an accommodation that is able to provide employees with the calm and comfort they need. In the long run, this will positively impact a company’s bottom line.
Sources:
“Relocation Volumes & Budgets – Overall & International.” Atlas Van Lines, www.atlasvanlines.com/corporate-relocation/survey/2017/relocation-volumes-budgets/.
“Magazine, Relocate. “Relocation Industry Responds to Change and Volatility.” Fiona Murchie | Relocate Magazine, www.relocatemagazine.com/articles/conference-relocation-industry-responds-to-change-and-volatility-fiona-murchie.
Insights, Learnlight. “Global Mobility Trends – What to Look Out For in 2018.” Learnlight Insights, www.insights.learnlight.com/en/articles/global-mobility-trends-look-2018/.
Hard, Rob. “10 ‘Green’ Hotel Initiatives Every Event Planner Should Know About.” The Balance, www.thebalance.com/sustainability-and-eco-friendly-hotel-initiatives-1223545.
