The corporate relocation industry is found to be one of the world’s most ethnically diverse and layered industries. It has industry parallels which are worth multi-million dollars running independently, though closely related to the CRS industry. For understanding corporate relocation trends, it is crucial and important to understand the trends of employee recruitment, popular skill sets which are running high in demand, etc. This is especially beneficial to understand factors such as the budget allocation required for the relocation of employees, company profiles, immigration rules and regulations, and lastly the cultural shift for the employees.
What Are Corporate Relocation Services?
Commercial relocation services are the services offered by providers for the relocation or movement of commercial businesses from one geographical location to the other. The relocation may be either inside the business unit or across national boundaries. The relocation providing services aide their clients in performing a hassle-free and efficient relocation operation with respect to the movement of employees, movement of office supplies, as well as the relocation of computers and laptops.
General Overview And The Dynamics Of Corporate Relocation Services
- The industry is facing a trend governing the budget cuts in corporate relocation as well as a rise in the demand for employees across borders. For instance, 44 percent of the employees across the globe choose companies which move worldwide. This leads to the movement of household items, relocation of technical equipment such as laptops, computers and office equipment.
- According to experts, the average age of a corporate employee who has relocated falls in the age bracket of 20 and 34 years. Most of the time, they are accompanied by children and spouse. This is termed as a ‘home move’ which includes the relocation of the entire family along with the employee.
- As another trend, more and more people being above the age of 45 years are willing to relocate than as compared to earlier. In the corporate sphere, 38 percent of the employees choose a company which moves worldwide and this happens around the month of May.
- The size of the organization, the qualitative need for an organization to relocate, research and development in understanding the destination market as well as issues pertaining to labor directly impact the corporate relocation market. Relocation services help in managing, making efficient and saving time in the conduction relocation. The prime goal of the organization is kept in mind.
The global corporate relocation market is highly fragmented due to high competition, the intersection of other industries along with it, and the evolution of the labor & immigration laws worldwide. All these factors additionally make it an unpredictable market. It is under a close radar among experts who closely monitor the dynamics of sector dealing with commercial operations. An apparent increase of industrialization in developing as well as developed nations are expected to further create business opportunities for corporate relocation service players in the coming few years.