You’ve likely heard of the Great Resignation; now get ready for the Great Relocation. As business travel bounces back, companies across the globe are relocating their employees for various reasons. From setting up business in new markets to reaping the benefits thriving business hubs have to offer, there are considerable advantages to moving employees to a different city or country - and everyone wants to get in on the action.
Stay ahead of the business travel game and exceed your employees’ expectations with these top five relocation trends of the moment.
Top 5 employee relocation trends
1. Competitive job relocation packages
For businesses, it’s no secret or surprise that employees are keen to move abroad for work. A record 35 million digital nomads traveled the globe in 2021, which is only set to rise. Reasons for relocation vary, from career advancement and higher quality of life to lower living costs and a change of scenery.
However, the prospect of moving to a new city or country without guidance can feel daunting. Thus, businesses are stepping up employee support with extra perks, benefits, and competitive relocation packages. A few features of these types of packages include employee housing, relocation allowances, partner and family support, household goods shipments, cultural assistance, and visa support.
Companies all over are tailoring relocation schemes to open the door to a broader, global talent pool and give them a competitive edge.
2. Remote working models
Research from Ladders shows that 25% of all professional jobs in North America will be remote by the end of 2022. In fact, Ladders CEO Marc Cenedella stated that remote working is the largest societal change in America since the end of World War II, so, unsurprisingly, remote models are one of the biggest trends sweeping the scene. Many companies realize telecommuting is the way forward, and physically being in the office full-time is no longer necessary.
The results are clear: 65% of employees say remote work has positively affected their work-life balance, and up to half of adult professionals believe that the biggest benefit to remote work is increased productivity.
Remote working not only awards employees more freedom, but it has allowed companies to finally move out of expensive hubs and into up-and-coming business cities - a win-win for both parties.
3. Employee self-booking accommodation options
As business travel returns, in-person meetings and conferences are once again taking center stage - and for many companies, these events are crucial for business. Better yet, they are their business. Corporate travel isn’t a new concept, but employee expectations and attitudes towards relocation are changing - cue the latest travel trend: self-booking.
Employees want to feel trusted and respected; if there’s one thing a modern employee doesn’t like, it’s being micromanaged. The new generation of business travelers wants the flexibility to book their travel and accommodation, view available options, and have a greater say over where they go and what they do. They want the opportunity to fly with their favorite airlines, choose sustainable options, and even extend to a bleisure trip.
4. The role of hospitality technology solutions in business travel
As we move through the digital age, it’s hardly surprising that technology is a driving force in the reshaping of global mobility. Many new technologies are smoothing the employee relocation process, from virtual meeting platforms to business travel apps.
Automated expense management technology is fast becoming a must for companies, easily allowing them to manage, process and reimburse expenditures incurred by an employee while away. Gone are the days of employees paying out of pocket with personal credit cards; instead, efficiency and automation are key.
Proptech is also leading the way when it comes to safety in employee housing. With safety being a huge priority when relocating employees, companies are looking for tech-forward alternative accommodation options. This goes beyond keyless entry and alarms; employees expect cutting-edge technology to protect them from risk.
3Sixty has strict vetting processes through partnerships with GeoSure and Dun & Bradstreet, to ensure our guests a safe, quality, and comfortable living experience.
5. Employee well-being while traveling for business
Employees on internal placements are at a higher risk of mental health issues. Moving to a new country is exciting, but it’s also a huge life change and, in many cases, involves moving away from family and friends. The final trend sweeping the industry centers around well-being - or more specifically, what employers can do to support the mental health of their employees.
As wellness tourism continues to rise, so does the emphasis on employee mental health. Today, employees expect companies to have well-being-focused travel policies, with access to appropriate support while working away from home.
Whether you’re in the process of relocating employees or it’s on your company's radar, paying attention to these five core relocation trends is key. Happy employees are productive employees, even when overseas!
3Sixty
3Sixty is a state-of-the-art marketplace that reduces the noise in extended-stay travel. Our HomeMatch™ technology leverages machine learning and human expertise to curate quality, cost-effective housing where your employees feel safe, comfortable, and at peace.