By: Chris Finckel, Director of Business Development, CRP

Famous lyric’s from an 80’s song AND a tune on the minds of people considering relocating.

Employees considering relocating must ultimately decide—- should I go?

Before coming to a conclusion, the following questions must be answered carefully:

• What is my current financial status?  Can I afford to move?
•  Can I sell my home AND deal with the financial impact of that sale?
• What is in the foreseeable future of employment and the economy at my current and new locations?

The effects of the housing market and economy have corporations struggling with relocation budgets. According to the 2008 Worldwide Employee Relocation Counsel Transfer Volume and Cost Survey®, 70 percent of organizations report having at least some minor problems with employees reluctant to relocate. The top three reasons for reluctance to relocate cited by organizations are financial in nature. Similar to last year, the top reason is the direct result of the weak housing market.

The relocating homeowner is concerned that they will not be able to sell their current property, or, if it does sell, there won’t be any equity to purchase a new home.

These economic factors have created an atmosphere of uncertainty for corporations and relocating employees alike. To help reduce the fear of relocating, corporations should consult a relocation company to help meet their strategic objectives with their recruiting and retention challenges. 

It is everyone’s hope that our economy stabilizes, and consumer confidence returns. Until then, Capital Relocation Services can help map a cost effective approach to relocation through our The Low-Stress Relocation Process™.