Job relocations are becoming a thing of the past (employer, work from home, companies)
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Saw this article and thought I'd post it here. It's surprising to see how fast job relocations have fallen during the last 30-40 years https://www.challengergray.com/blog/...work-persists/. It used to be that almost 30% of people would relocate for a job back in the 80s. That has been trending downward, and has really smashed the basement in 2023 with only 1.6% of people relocating.
There's reason to expect that to continue or fall even further. The housing market is literally trapping people in place with mortgage golden handcuffs or pricing out any sort of newcomer who wants to be in anything besides an apartment, especially in "hot" markets. Salaries don't justify housing prices anymore, especially with the hits in the tech sector that were the high payers.
What I'm wondering is what this means for offices, the idea of HQ, and talent selection going forward? Nobody is going to move for a job post 2023, so how do companies get talent outside of just looking at who is nearby, especially as boomers retire out? Given that companies are getting larger and roles more specialized, I just don't see how anything besides a more distributed / remote setup would be the trend for the next 40 years.
The cost of moving alone is enough to make people think twice about relocating for work unless it's a significant raise. Plus it's possible for many jobs to be done remotely so if you hire someone from across the country (or world) it's just as easy to allow them to work from home vs. paying tens of thousands in relocation costs.
This is kind of shocking, and I doubt it's honestly true for white collar people.
I've worked remotely since 2023, but if my remote job vaporized and I couldn't find another one, there's nowhere I'd make anything comparable to what I make now locally unless I went back to my previous employer, a regional hospital system that is basically in the toilet in terms of job morale. I would rather move before doing that.
I don't like where I live now. In saying that, a big reason why I'm still here is the golden handcuffs effect. My mortgage is under $700/month. Where I'm going, at current rates, would be about $1500-$1700/month for a lateral move. That's a little more than an hour and a half away. I could get within an hour to the best city in my local area for quite a bit cheaper, but I'd still be in a state I don't like, although the city itself would be a big upgrade.
Life goes on. Circumstances change. People aren't going to hold out indefinitely.
Statistics are as good as the analyst conjuring them up.
Judging by what I see happening in SO's group with professionals moving to OKC at a steady rate and with nice packages and my extended group - relo is going strong. The same for expat packages. Contents have shifted some but overal the basics are still move, sign-on bonus, whatever perks you can negotiate. Please remember grossing everything up.
There is no job security in America to justify moving far away for one.. Thats just the facts. You could relocate and within a month the company will tell you they are downsizing and they no longer need your services. Its essentially a waste of time and money in many cases. Decades ago? Sure. Companies used to grow their workforce and care about them.. That hasn't been the case in a long while. I would never move far and away and rely on some crappy employer to keep me on. Most of them are dysfunctional today and hardly capable of keeping their business LOL.
You're better off staying where you are, hunting, and just hope you luck out
I've been a part of a few hiring committees post-COVID, where candidates that we really liked and who got pretty far in the process decided that they weren't going to uproot themselves. It has to be a really unbelievable opportunity for people to want to move, and most jobs aren't that great.
Saw this article and thought I'd post it here. It's surprising to see how fast job relocations have fallen during the last 30-40 years https://www.challengergray.com/blog/...work-persists/. It used to be that almost 30% of people would relocate for a job back in the 80s. That has been trending downward, and has really smashed the basement in 2023 with only 1.6% of people relocating.
There's reason to expect that to continue or fall even further. The housing market is literally trapping people in place with mortgage golden handcuffs or pricing out any sort of newcomer who wants to be in anything besides an apartment, especially in "hot" markets. Salaries don't justify housing prices anymore, especially with the hits in the tech sector that were the high payers.
What I'm wondering is what this means for offices, the idea of HQ, and talent selection going forward? Nobody is going to move for a job post 2023, so how do companies get talent outside of just looking at who is nearby, especially as boomers retire out? Given that companies are getting larger and roles more specialized, I just don't see how anything besides a more distributed / remote setup would be the trend for the next 40 years.
If some posts on here are to be believed, there are many places that only want to hire local candidates. Also the way some GR people jerk others around why would you relocate? The worker shortage is bull**** in a lot of ways. People are sick of being taken advantage of.
This is kind of shocking, and I doubt it's honestly true for white collar people.
I've worked remotely since 2023, but if my remote job vaporized and I couldn't find another one, there's nowhere I'd make anything comparable to what I make now locally unless I went back to my previous employer, a regional hospital system that is basically in the toilet in terms of job morale. I would rather move before doing that.
I don't like where I live now. In saying that, a big reason why I'm still here is the golden handcuffs effect. My mortgage is under $700/month. Where I'm going, at current rates, would be about $1500-$1700/month for a lateral move. That's a little more than an hour and a half away. I could get within an hour to the best city in my local area for quite a bit cheaper, but I'd still be in a state I don't like, although the city itself would be a big upgrade.
Life goes on. Circumstances change. People aren't going to hold out indefinitely.
Is $1000 a month more really too much to pay for happiness?
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