Throughout 2020 and 2021, many companies underwent significant changes — was yours one of them? Millions of staff members began working remotely, and scores of corporate employees quit their jobs. Most recently, economic uncertainty has forced many businesses to re-evaluate the number of staff and the amount of office space they need to keep things running smoothly and maximize profits.
As 2023 inches closer, corporate America continues to face changes that may or may not impact your workplace location or work life in the coming months. Here are four corporate relocation trends you should keep an eye out for to prepare yourself for the year ahead.
1) Companies Are Implementing Hybrid or Permanent Remote Work Models
After spending months (okay, years) working from home, many employees aren’t keen on returning to the office and have made their preferences known. And scores of companies are responding by transitioning to permanent, fully remote work models or hybrid models that split work days between the office and home.
Data suggests remote employees aren’t just happier than their office-bound counterparts but are also more productive throughout the day. And since a happier, more productive staff generally makes for a more successful business, many companies are opting to stick with what’s been working over the past couple of years.
If you’re currently working in an office that may be considering making the remote-work or hybrid-work switch, be prepared for your office space to downsize in 2023. It may not actually happen, but it should be on your radar nonetheless.
2) Moving Costs Will Likely Level Out
A slew of circumstances caused moving costs to skyrocket over the past couple of years, but in 2023, that upward trend will likely stabilize. While the rush to relocate dwindles (nearly 32 million people moved in the U.S. in 2020, while roughly 26 million moved in 2021), the cost of conducting a move will likely dwindle, too.
As the demand for professional moving services levels out, the supply of such services naturally increases, so prices naturally stabilize as the two reach more of an equilibrium. Going into 2023, supply chain disruptions have also grown much less severe, so the cost of moving materials and supplies has gone down, too.
3) Companies Will Continue Moving Out of Expensive Areas
As remote and hybrid work models become more ubiquitous, more and more companies are transitioning out of major cities where real estate is exorbitantly expensive and taxes are high.
Now, formerly “under-the-radar” business cities, like Dallas, Houston, Austin, Atlanta, Raleigh, and Salt Lake City, have become corporate relocation magnets due to their more affordable real estate, lower overall cost of living, and attractive tax incentives.
If you work primarily from the office and your company is looking to maximize profits in the new year, you may find yourself making a corporate relocation to a new city in 2023.
4) More Competitive Job Relocation Packages
The rise of remote work has given employees more leverage in their job search, allowing them the option of working for companies that were previously out of reach due to differences in location.
Employees looking to advance their careers (what employee isn’t?) can now take their talents to dozens of companies offering a remote or hybrid work model. And that extensive list of options essentially forces companies to be more competitive in their hiring process.
While it’s always been true that applicants must work hard to impress hiring managers, applicants aren’t the only ones putting in work these days. Now, companies must also work hard to impress top talent who are highly qualified for virtually any position they apply for. And one of the most common places for companies to start is with their relocation package.
The more attractive the relocation benefits are, the more likely a highly talented employee will opt to work for the company offering them. If you’re one of those employees and are looking at transitioning from your current job, keep an eye out for impressive relocation compensation packages in 2023.
Are you a business owner who may need to relocate employees or your company in 2023? Then check out our top tips on saving money during your commercial move!
Trust Ace With Your Corporate Relocation Needs!
When you need to move employees to or from the Twin Cities for work, you can count on our team at Ace Moving & Warehousing to handle all of your relocation needs. We can custom plan every aspect of your staff members’ relocations and provide all the support you and your employees may need throughout the transition.
To learn more about our corporate moving services and how we can make your employees’ transitions as smooth and efficient as possible, give us a call today at 763-755-2045. You can also request a quick quote online or send us a message with any questions, and we’ll get in touch!