Employee Relocation Services in the US Industry Market Research Report from IBISWorld Has Been Updated

The industry has experienced a strong uptick in demand for its services; however, this demand is expected to continue through 2019, although it will taper a bit as baby boomers start to retire. For these reasons, industry research firm IBISWorld has updated a report on the Employee Relocation Services industry in its growing industry report collection.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
The recession had detrimental effects on industry revenue, but it started to recover in 2012

New York, NY (PRWEB) March 28, 2014

Operators in the Employee Relocation Services industry aim to simplify the moving process for companies and employees alike. Firms assist with departure services, which includes home sales assistance, property management and moving services. Operators then assist employees in finding new temporary and permanent housing, which includes the provision of brokerage, title and escrow services. The onset of the US recession rattled the industry, as firms cut workforces, held off new hires and shrunk relocation budgets for any new staff members. Additionally, plummeting property values and the credit squeeze stalled the housing market, which severely hurt consumer wealth, and, therefore, discouraged relocation. To make matters worse for industry operators, a rising unemployment rate provided companies with a surplus of potential employees in local markets, which diminished demand for hiring talent that would require relocation.

Consequently, industry profitability fell and revenue continued to slide until 2012. Finally, according to IBISWorld Analyst Jeremy Edwards, “rising corporate profitability, increased consumer sentiment and rising home prices caused the industry to turn around.” The industry grew in 2012 as firms took on more staff and were willing to reinvest in relocation services to attract the best talent. Overall, “the industry is projected to slightly grow at an average annual rate over the five years to 2014,” says Edwards. This will include significant growth in 2014.

The Employee Relocation Services industry has a moderate level of market share concentration. The next five years are expected to represent the bulk of industry recovery. The industry's performance is closely linked to the real estate market and housing values because homeowners are the largest driver of industry demand and revenue. Industry firms make the most off of relocations that involve a home sale and home purchase, because home sales result in brokerage, title and escrow service fees. As a result, rising home sales and prices, along with rising corporate profit and budgets, are forecast to allow the industry to grow at an annualized rate over the five years to 2019. Global relocations are also expected to rise as companies become increasingly globalized and look to attract talent from across the world.

For more information, visit IBISWorld’s Employee Relocation Services in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

The Employee Relocation Services industry offers employee relocation services that aim to simplify the moving process. Firms provide departure services, which include home sale assistance, property management and moving services. The industry also offers destination services, including temporary housing and home finding to rental and mortgage assistance.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


Contact

  • Gavin Smith
    IBISWorld
    +1 (310) 866-5042
    Email