Relocation Budgets Return

Good news for jobseekers in the “wrong” part of the country*: relocation is making a comeback.

In fact, 30 percent of companies say that they plan to pay to help more new hires move both domestically and internationally this year. That’s the highest percentage since 2005, reports Human Resource Executive Online.

Only 13 percent said they plan to relocate fewer employees, which is half as many as said they were cutting back in 2010, and far fewer than 2009, when 52 percent of companies said they were cutting back.

In 2009, companies couldn’t afford, in many cases, to pay people to relocate. That meant moving expenses and helping unlucky homeowners extricate themselves from underwater mortgages.

So they turned to looking for local talent. But in many industries, qualified talent is now in short supply, and the housing market is less terrible.

Now, says Lauren Herring, president and CEO of job transition company IMPACT Group, high-level employees can expect companies to pay for their “loss on sale” (the amount of money an employee loses by selling his/her home at a loss) but lower-level workers should still assume they’re not going to get the full amount.

But it’s a heck of a lot better than the situation a few years ago.

Usual full-disclosure-be-reasonable note: In certain, extraordinarily competitive industries, you’re not going to get paid to move. Those industries…you know which ones they are.

The data was taken from an annual survey by Evansville, Ind.-based Atlas Van Lines.
*There is no wrong part, unless the jobs you want are totally somewhere else.