Tag Archives: Real Estate

What gauges are you watching this summer?

If someone asked you which dashboard gauges on your vehicle were most important, you would probably say the speedometer and fuel gauge. Can you imagine driving your car without knowing how fast you were going, or how much gas you had in the tank?

What about oil level and tire pressure? Thankfully our check engine light on the dashboard appears when there seems to be trouble ahead. These gauges are critical to helping us maintain the health of our vehicles so we can travel safely each day to our destination.

Though we don’t have physical gauges to tell us when we need to refuel or fix something in our professional and personal lives, there are certain indicators or gauges we can look to on our hypothetical dashboards.

In relocation, we look to on-time pickup and deliveries by our van operators, survey bruce_on truck original pictureaccuracy for the moving estimate, and quality scores for best customer experience to just name a few. I know recruiters that focus on time to fill job requisitions, HR leaders that focus on engagement, and sales professionals that focus on the number of calls made each day.

Establishing a few gauges to focus on can help increase your chances of success. Such gauges can help you see when something isn’t working for you and when it’s time to make some changes. It doesn’t matter if you’re in an entry level role or part of the senior executive leadership team. To stay aligned with your business goals, you need to keep an eye on your personal dashboard.

Here are a few gauges (trends) to watch when relocating your candidates this summer:

  1. Tax Reform is here and companies will spend approx. 50% more for the household goods move. The household goods move averages can be as much as purchasing a new car…which is about 10-20% of the total relocation, so be sure to budget for the gross up when planning for business unit leaders.
  2. If the candidate has a home to sell, you can offset this cost by considering a home sale tax program such as a BVO (Buyer Value Option). This is a favorable tax savings program that can save the company on the tax gross up… which could be as much as $35,000-$40,000 savings on a $1,000,000.00 home value!
  3. Household goods moves require significant more lead time in the summer to reserve pack and load dates, especially in the northeast as well as some DTS (Difficult to Service) areas. Most states require 12 days, but some areas are closer to 21 days. Advise your business unit leaders, recruiters, and the relocating family.
  4. The small shipment container model is becoming very popular because of one day preferred delivery for candidates. This also eliminates the candidate from having to drive a moving truck. If your candidate has a small amount of items to move, ask about this program before you give them money or advise them on self moving.

…and most importantly, remember the best relocation programs have great partners. This is because there is an investment in the relationship which creates consistent dialogue from each party throughout the year.  I call this “investing in your people zone”. This is the best approach to keeping an eye on all of your relocation dashboard gauges which will ultimately bring the best experience for all of your candidates relocating this summer! Invest in your partnership and make it a win-win-win for everyone!

For more on mobility trends… Check out WorldwideERC website

Call to Action: Reach out to your relocation partner to schedule 30 – 45 minutes to review your program to make sure you are in alignment with your company goals and candidate experience this summer. If you don’t have an established program, develop one with a trusted partner. The cost is minimal and the return is significant for both you and the candidate relocating. 

Quote of the Week…  “What gets measured, gets done.” Peter Drucker

This has been A Relocation Minute on “Summer trends in June 2018” with Bruce  Book Cover Find Your Lane FRONTWaller, for more information, call 972-389-5673, or email bwaller@goarmstrong.com or check out my social media Facebook and Twitter page.

Also, check out www.BruceWaller.com for review my latest leadership book “Find Your Lane” on sale at Amazon!

2018 Texas Relocation Network (TRN) Conference Takeaways

I recently attended TRN’s annual Texas Relocation Network Conference which was held in The Colony, Texas. More than 100 relocation professionals traveled to north Texas to hear about the latest trends in relocation, and to network with some of the best of the best in mobility. TRN did not disappoint as they provided a great keynote speaker to share perspective from a mortgage lens, corporate relocation panels, and speakers to inspire attendees during the conference. The theme this year was Partners in Progress: Collaboration, Motivation, and Innovation.

Here are a few of my takeaways to share with others:

Scott Eggen, EVP PrimeLending kicked off the conference sharing perspective on relocation in north Texas and surrounding states:

  • Current demand will carry new construction thru 2021
  • Lack of labor holding back new housing, and driving prices up.
  • Lumber is at its highest cost of all time.
  • Mortgage rates expected to increase up to 5% by 2020.

COLLABORATION
Corporate Panel led by Cartus, OEG, Aires, and Toyota discussed Group Moves:

  • Policy was created or modified for group move.
  • Bus tours can be very challenging due to delays.
  • Special needs children can be a challenge for family relocating.
  • Geographic area needs to be considered when helping family search for home.
  • Other factors include weather (Oklahoma) and property taxes (Houston)
  • Group move conversations should be started early with providers.

MOTIVATION
Bruce Waller, VP Armstrong Relocation and author of “Find Your Lane” presented “Find Your Lane: Change your GPS and Experience Success”

  • Maintain your vehicle by investing in yourself
  • Plan your road map through goal setting
  • Take the The Carpool Lane and expand your network

INNOVATION
Corporate Panel led by Acosta, Shell, and American Heart Association

  • Chabot’s, Machine Learning, & Artificial intelligence leading the way for talent acquisition
  • Employment Branding is critical (Social media aggregation)
  • Sourcing strategy should include texting recruits
  • Permanent Solutions for temporary assignments makes a difference for Shell in West Tx
  • Its more than housing: Safety and dangerous roads can be a factor in rural areas

Petey Parker closed the conference with an inspiring presentation to encourage everyone to “Write Your Story”!

THANK YOU to everyone involved for making this another great conference!

Until next time… Be Partners in Progress!

Call to Action: Check out Texas Relocation Network for more information. You can also check out other relocation education at North Texas Relocation Professionals or WorldwideERC. Let me know if you have any questions about these groups or how to get involved. Reach out and “Partner for Progress”!

Quote of the Week… “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” (Abraham Lincoln)

This has been A Relocation Minute on “TRN Conference 2018 Takeaways” with Bruce Waller, For more information, call 972-389-5673, or email bwaller@goarmstrong.com or check out our my social media Facebook and Twitter page.

Also, check out www.BruceWaller.com for review my latest leadership book “Find Your Lane” on sale at Amazon or Barnes and Noble. Also available on Kindle!