Companies Still Pay to Relocate Atlas Survey

Companies Still Pay to Relocate Atlas SurveyCompanies Still Pay to Relocate Atlas SurveyBusinesses have limited what they will pay for and who is eligible, but few cut the budget entirely.Realtors say property sales come down to location, location, location. The same might be true for the job search its not just what you do and how well you do it, but where youre willing to do it. And that means you might need to relocate to the job.Relocation is an intimidating and expensive proposition that scares many enough to consider relocating to a new job function or industry to avoid relocating to a new geography. Many assume that tighter budgets at hiring companies mean that most of the burden will be placed on the employee who must really want that job.But not so, said Bob Cartwright, senior PHR, president and CEO of Intelligence Compensation. Businesses have curtailed their spending on relocation, but few have eliminated it entirely. Instead, most have reduced what they will pay for and who is eligible.Many companies are totenstill more than willing to take a chance on applicants from out of town. They just have to make sure that theyre the right candidates, he said. Youre always going to be looking for great talent, Cartwright said. A hiring manager would be OK if they have a solid background.Relocation budgets decreased in 2009 for a second straight year, according to the Atlas 2010 Corporate Relocation Survey, but nearly half of employers (48 percent) still offered a full relocation package to new hires in 2009 that included most major moving expenses. Another 46 percent paid at least partial expenses. Among those companies76 percent paid packing and shipping expenses68 percent paid to move an automobile29 percent paid to move a pet(s)14 percent paid to move a boatCartwright said miscellaneous items like relocating pets and boats are the first things to be cut in relocation budgets. The packages have probably shrunk a little bit, he said. Caps have been set up t o weather the (economic) storm.HousingWhen moving to a new city for a job, one of the biggest concerns you might have is where to live. The sale and replacement of a home can be the largest obstacle to a relocation, so most businesses offer at least some help for qualifying hires, according to the Atlas survey69 percent offered temporary housing to transferees and new hires who are looking to buy new homes65 percent paid for home-finding trips51 percent paid for storage50 percent paid for costs to sell a home49 percent paid for costs to purchase a home28 percent paid for the loss-on-sale of an employees previous homeFewer companies reported offering similar assistance to renters.Where To?Where are job seekers relocating? Most are headed to the Midwest, according to the Atlas survey. Relocations by flche36 percent to the Midwest28 percent to the South27 percent to the Northeast18 percent to the West11 percent to the Southwest9 percent to the central U.S.Research, Research, ResearchWh en considering such a big move its very important to take into account the local housing market and cost of living in your destination, said Lisa Panarello, a career coach and founder of careersadvance.org.People spend too much time worrying and not enough time investigating, Panarello said. Why worry about an issue if you dont know if its real or not?She recommends investing a few dollars to visit the place where the job is and see if you like it. People say real estate comes down to location, location, location, but your job search may come down to location, location, location or, as I say, research, research, research, she said. You have to do the work. To get a feel for a new area, Panarello suggests reading local newspapers in that city, working with local recruiters there or even networking with local organizations and associations.Every job search takes time, she said. If they want to relocate, it takes even more time.