More people in the US refuse to leave their city or state for a better job. From 30 percent in the ’80s and ’90s, relocation is down to 11 percent in the past decade. The percentage of career-motivated relocations in US states has dropped, save for Vermont, where 86 percent do leave for a better career.
Relocation is taxing, which is why some refuse to move. But others are finding the motivation to hire a long-distance moving company to leave their old cities for job opportunities elsewhere, particularly when support is available.
Companies are ready to support and fund a new hire’s relocation. Receiving relocation assistance from the hiring company plays a crucial factor in convincing talent to move.
According to Challenger, Gray & Christmas, the bursting of the dot com bubble in 2000 ended an era of generous relocation packages from companies that were trying to attract talent. This event also led to massive job cuts nationwide, which may explain the decline in relocations across the board.
Nevertheless, some sectors do well at convincing talent to relocate. A survey of 1,000 individuals reveals that job seekers were most likely to relocate for tech careers. The top target cities for these moves include Charlotte NC, Austin TX, and Denver CO.
Providing talent enough reason to relocate
The IT sector has a talent vacuum and competitive compensation packages for those who are qualified.
In 2018, 200,000 tech jobs were added to the market, and this growth rate is expected to remain, if not increase, over the coming years, according to a Cyberstates 2018 report. Recruiters, however, are dealing with the challenge of employment mismatch, or when the number of qualified applicants is less than company requirements. This vacuum creates competitive compensation in the industry.
Companies are also expanding their search to out-of-state or even abroad. Because of this trend of hiring outside the locale, relocation packages have become an important part of the on-boarding process in IT companies.
Changing companies is not all about finding higher compensation. What completes the allure of a job offer is the promise of great company culture, opportunities for professional growth and learning, a company’s direction and values, and dependable leadership. Some IT companies offer this full spectrum of benefits.
Local opportunities, then and now
Opportunities two decades ago were more limited locally, depending on which state you’re in. But that’s not the case anymore.
Today, companies are expanding at a faster rate as processes become more efficient through automation technology. The result is more jobs available locally. In line with technological advancements, alternative remote work setups have been added to the list of work options. Fewer feel the need to transfer hundreds of miles away.
Moving to another city or state for a job has dropped in recent years. But there are some who seek better opportunities. With sufficient support from businesses and compelling enough reasons, from the need to improve one’s career to receiving an enticing compensation package, people will take the leap.