dcsimg

Companies Cutting Back Relocation Assistance

March 25, 2010

stressful moveFewer employers are offering relocation assistance to out-of-town hires, a factor that job seekers must consider when they wish to move to an area with better job opportunities.

"A lot of people are landlocked because companies want to pay less, not more, to bring in new talent," said Nancy Keene, director at the recruiting firm Stanton Chase, who was quoted by MSNBC.com. She noted that applicants who are local definitely have an advantage over someone who lives far away.

MSNBC.com reports that according to Worldwide ERC, a typical corporate relocation can run about $60,000 for homeowners and $18,000 for renters. Because of the expense and the economic climate, many companies have cut back on relocation benefits: An October poll conducted by the Society for Human Resource Management found that 17 percent of companies eliminated corporate relocation programs entirely, 25 percent froze such programs, and 58 percent reduced the programs.

In a nod to the trend, career expert Nick Corcodilos recently acknowledged in his "Ask the Headhunter" column that employee relocation costs are not very common today. He advised new hires lucky enough to receive the benefit to first commit to the job before expressing concern about the price of moving, which can be substantial.

"It's important to work out these details now and to incorporate the solution you need into the written offer," he wrote. "The best deals are struck when both parties know exactly what they need to make the deal a good one."

Even the Internal Revenue Service has cut back on relocation costs for tax purposes. In December, it was announced that the standard mileage rates used to calculate the deductible costs of operating a vehicle for moving purposes in 2010 would be reduced to 16.5 cents per mile, down from 24 cents per mile in 2009.

Keene made several suggestions to MSNBC.com about looking for jobs out of town when relocation is an issue: She recommended targeting towns where family or friends live so it would be possible to stay with them while looking for job. She also suggested getting a local mailbox, and looking in secondary markets instead of big cities. Smaller towns, she pointed out, may be more willing to offer help bringing in new talent.


Compiled by CityTownInfo.com Staff

Career and Education News

Find a school near you

Our News Writers and Editors

CityTownInfo Writers and Editors

Follow CityTownInfo.com

Follow Us on Facebook
Follow Us on Twitter
Follow Us on Youtube

Career and College Resources on CityTownInfo

Real-World Career Reports

Career Stories from workers: daily activities, job tips, best/worst job aspects, training, etc.
Daily Career & Education News from our staff. We're an approved Google News provider!

Career References and Original Articles

Resource Center. A starting point for all CityTownInfo career and college resources.
Career Overviews of hundreds of careers: descriptions, salaries, forecasts, schools, more.
Best Careers Not Requiring Degrees: Good pay, job growth, low need for degrees.
Helpful Articles, many in "how-to" format; e.g., "How to Become a Chef".
Infographics covering employment and educational trends.

College Directories and Lists

These lists link to thousands of detailed school profiles.

Colleges by State. Nearly every college and trade school in the country.
Colleges Listed Alphabetically. About 7,000 colleges & trade schools, including online schools.
Colleges by Major City. Browse cities with multiple college options.
Online Colleges. Colleges with online degree programs.
Graduate Schools by State. Colleges offering graduate degree programs.
Graduate Schools by Major City. Find cities with multiple graduate school options.
Back to Top