Sunny forecast for Canadian relocation in 2012.
Economic forecasters have said that the Canadian economy will see a rise in 2012. The Canadian economy came out of the recession in much better shape than most of its counterparts, but they did experience a decline during that time. Although the global economy is not completely out of the water yet recession fears have eased. This increased optimism appears to be having a positive influence on Canadian companies. They expect to see higher profits and sales which will lead to more hiring and capital spending.
But how will this effect relocation within and to Canada? The Canadian Employee Relocation Council (CERC) is a not-for-profit organization that works toward removing obstacles restraining employee relocation. The CERC conducts a bi-annual survey of Canadian companies to gain an understanding of relocation trends in Canada for the upcoming year. Participants are asked questions around hiring trends, relocation management challenges and expected relocation and assignment volumes for the coming year.
Results of the survey reveal that the job market will see a slow but steady rise. Staffing levels will increase resulting in pressure to find employees with the correct skill sets to fill those positions. Domestic, cross border and international recruiting will be utilized to fill the employment gaps in talent and the increase in baby boomer retirements. Participants of the CERC survey were asked to identify the most challenging aspect of managing relocation. The majority stated that the high cost of living in Canada has the greatest impact on international and domestic recruitment. This is most prevalent when moving candidates from the United States where there is a low likelihood of selling property and one in four homeowners owe more on their homes than the house is actually worth!
The CERC has listed the top four challenges in their relocation programs.
1. Managing housing costs was cited as the most challenging aspect of program management, up from second spot in 2010
2. Managing relocation budgets was the second most challenging aspect, unchanged from 2010
3. Employee reluctance to move was cited as the third most challenging aspect, unchanged from 2010
4. Family and spousal needs were cited in fourth spot