Lightfield Studios
The business world is in constant flux. The drivers of this change are numerous, including the impacts of new technologies on the industry and the need for new talent in the hiring process. One of the trends having a significant impact on hiring is the rising number of working professionals who are against relocation when searching for a new career path. So, what caused this sudden change in the job market regarding relocation?
COVID-19 and the Rise of Remote Work
One of the main assumptions in the shift of relocation preferences is the impact of COVID-19. The way workers see the marketplace has radically changed and become more complicated. Compared to previous generations, there has been a sharp increase in people choosing to be near family and friends compared to the benefit of a higher living standard offered by a new job.
Of course, there is also the new wrinkle of remote work. While not a new phenomenon in the pre-COVID-19 age, its prevalence has exploded in the 2020s, with many companies re-evaluating the need for a completely on-site workforce. While this has its advantages for companies, such as some rethinking the need for an office location and the expenses that come with it, it also brings about challenges for others. This has, in turn, led to additional resistance toward moving for a job.
Additionally, there is the situation of those with remote jobs moving to different cities and states simply to find a home with a lower cost of living. As BEST Human Capital & Advisory states, “Those moving out of state in higher numbers are leaving California, New York, New Jersey, Illinois, and Massachusetts. States benefiting from candidates relocating are Texas, Florida, Arizona, and the Carolinas.” This data can be used to better target areas of the country when looking for new hires
The Rising Expense of Relocation with Inflation and Housing Costs
Speaking of cost, the expense of relocation is also a factor. The cost of moving can be daunting to many, even before considering rising inflation of basic goods and housing costs. For an employee, even if the promise of a new job pays significantly more than their current one, it can quickly lose its luster if the cost of moving to AND living in a new city is much higher than their current situation.
Inflation has caused both companies and candidates to reconsider career opportunities to a greater degree. BEST leads with the following example:
“Imagine hiring a new President for your medium-sized ($2m-$10m) horticulture company. You offer a competitive salary, even a bit higher than the industry standard. Top-tier candidates share this is their ‘dream job,’ but they are unable to make a move based on them having to trade their current 30-year mortgage at the average rate of 2.68% in 2020 for a new 30-year mortgage rate at the average of 7.05% in 2024. They would take one step forward in their career and two steps backward in their socioeconomic status to make it happen.”
Relocation Considerations When Searching for Candidates
Every situation is different for companies and employees. Therefore, if on-site work is required for a particular position, it’s best to start the search locally. All talent in the immediate area should be vetted thoroughly before you expand your net nationwide.
Additionally, consider what kind of expertise is needed to succeed in a position. You might come across a local candidate who lacks training in a particular area but has the right behaviors needed to succeed in the role. After all, some training is always necessary, and you can’t expect a new hire to immediately pick up right where a previous professional left off. In such a case, a robust onboarding process and development plan can help broaden your possible candidate pool.
Elsewhere, to draw in candidates who would need to relocate for a position, being upfront and transparent about a position’s salary and relocation expense coverages can do wonders. Finding clarity about a position, its benefits, and the company’s role and investment in their move, can make a candidate much more likely to consider relocation than if kept in the dark.
Thankfully, in the past few years of a post-COVID-19 environment, the horticultural industry has experienced renewed interest from outsiders. Therefore, it’s essential to solve potential issues, such as relocation challenges, to incentivize further excitement in horticulture as a possible career path.
For additional information and an expanded look at relocation considerations when searching for and fielding new candidates, make sure to read the original article on the Best Human Capital & Advisory website.
