Corporate Relocation. The very mention of it can strike fear in the hearts of business owners and employees alike. This necessary evil can be time and energy consuming, often creating equal parts opportunity and headache. And despite visions of mangled computer cables and the hassle of readjusting in every way to a new corporate culture and community, the reality of Corporate Relocation surfaces more often than anyone might like. Sure, it’s an opportunity to start fresh in a new place. But in the interim it can be a time of certain chaos. For this reason we highly recommend that you do not try to do it alone.
What is Corporate Relocation?
Corporate Relocation is the movement of a company, and its employees, to a new city, state or country as part of the normal operations of the business entity. This can include everything from relocating the contents of a single office to a full corporate headquarter relocation including all office equipment as well as all individuals in the staff and their families. This type of full scale transfer is a common concept when companies are looking to both cut costs and expand their markets.
What Makes Corporate Relocation Necessary?
According to the American Census Bureau and the US Postal Service, approximately 40 million Americans relocate each year. While there are several different reasons cited for this, one of the most popular is employment opportunities. While moving is also said to be one of the top 20 most commonly stressful activities in life, sometimes the draw of a new place overrides this reality.
Some of the most popular reasons for Corporate Relocation from a business perspective can be similarly understood from a personal perspective. The strong drive to reach new markets and expand business opportunities is a logical rationale. Many companies also see corporate relocation as the best way to move an already functional company to a city that will help them to increase cash flow by lowering costs. And last but not least, many companies and individuals decide to relocate as a way to improve overall quality of life for the company and the individuals working in it.
What Does Corporate Relocation Require?
According to the Atlas Corporate Relocation Survey of 2010, most firms offered incentives to encourage employee relocations including temporary housing benefits, relocation bonuses and cost-of-living-adjustments. According to this study “About 9 out of 10 companies said extra incentives ‘almost always’ or ‘frequently’ convinced an employee to relocate.” But beyond convincing employees to “go with the flow’ and coordinating staff relocation, there are also plenty of logistical considerations such as finding suitable space, tax and other appropriate legal licensing as well as the actual move itself. Because of its complexity, Corporate Relocation should not be carried out alone. It takes the help and expertise of trained professionals.