Last week, my colleague John Sculley discussed how changes in the corporate mobility industry may herald new business opportunities for brokerage-based relocation departments. Traditionally, relocation directors focused on buyer and seller referral revenue, but with fewer corporate transfers and increased renter populations, it may be time to include more non-traditional approaches.
Building relocation business in today’s market means focusing on important trends that can impact mobility programs and thereby spark ideas about recalibrating existing services or developing new ones. Here are some prevailing trends, possibly in your market area right now, that can indicate new or enhanced service needs:
• global assignment increases
• renter population increases
• use of pre-decision services
• mobility policy development
Corporate mobility managers’ responsibilities have also changed; fewer are dedicated solely to relocation functions and often have diverse HR responsibilities. Increasingly, they may rely more on relocation management companies (RMCs), local agents and performance data to manage mobility activities. Employers must also maintain competitive, cost-effective moving assistance policies throughout changing economic cycles. As new service needs evolve, corporate administrators may welcome your help in developing effective support services. Here’s a look at how trends can impact services and policy needs.