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Talent Strategy Planning in a Post-Election Landscape 11.27.2024 | Jennifer Connell

Everyone can agree that the recent US election shook things up across many industries. Political changes anywhere can bring new economic policies, labor laws, and regulations that can have a ripple effect on how employers around the world move and hire. By staying on top of these shifts, businesses can make smart decisions about relocating employees and recruiting new talent, keeping them competitive and compliant while managing their teams effectively.
 

Last week, I was invited to join an episode of the ever-popular LOVE + RELO; hosted by Ben Cross of Glomo Consulting, it’s the OG daily talk show in the relocation and global mobility space, and I was honored to weigh in on what mobility professionals can expect to see in the relocation policy landscape. Election aside, we’re hovering in an era of heightened uncertainty, and this is undeniably impacting how global employers are planning their hiring and relocation in 2025 and beyond. Here is a snapshot of what I shared, and what mobility leaders should be considering as it relates to their broader talent strategies.

Emphasizing Strategic Workforce Planning

In light of ongoing geopolitical issues, such as those involving Russia/Ukraine and Israel, businesses might need to reassess their workforce planning, relocation, and talent acquisition strategies. Strategic workforce planning could entail exploring alternative visa options and contingency plans for affected employees. Reliable cost estimating tools will be necessary for clients to quickly and accurately recalculate the cost and reassess the value of the assignment based on these key factors: the person, the role, the timeframe, and the location.

Companies are also bracing for even more reluctance to relocate and are responding by demonstrating their commitments to duty of care, and more closely scrutinizing relocation decisions in the interests of employee safety and wellbeing.

Expect Growing Demand for High-Tech Talent

The CHIPS and Science Act is expected to accelerate the demand high-tech talent, driving mobility to select locations. The following locations have received attention under these changes and are expected to see increased growth in tech talent:

Location Tech Talent
Austin, Texas Semiconductor manufacturing and related tech jobs
Phoenix, Arizona Hub for semiconductor manufacturing
Albany, New York Semiconductor research and development
Raleigh-Durham, North Carolina Semiconductor and clean energy technologies
Columbus, Ohio Investments in semiconductor manufacturing and other tech industries
Mobility Cost Volatility

The extent of tariffs and trade locations — and rising supply chain costs — will inevitably influence company decisions on where to locate operations and how to manage workforce logistics. Moreover, volatility in interest rates, particularly affecting mortgage rates, will limit housing affordability and impact an employee’s financial outlook and, ultimately, their ability to relocate.

 

Investors have reacted quickly to the election results. Mortgage News Daily's survey put the average 30-year fixed-rate mortgage at 7.13% on Nov. 6, up from 7.04% the day before and the highest level since July.
The National Impact of Changes to Immigration

Any changes to U.S. immigration policies will influence corporate strategies for hiring and relocating international talent:

  • Stricter immigration policies will lead to longer processing times for visas and employment authorizations, as well as higher costs due to increased filing fees and legal expenses. Companies need to budget more for immigration-related costs and plan for delays.
  • With heightened enforcement and security-based policies, businesses might face more frequent audits and inspections from immigration authorities. This necessitates robust compliance protocols and regular internal audits to ensure all documentation and processes are in order.
  • Changes in immigration policies may create uncertainty among foreign national employees. Companies may need to enhance their support and communication strategies, offering resources like informational sessions, consular interview preparation, and regular updates to keep employees informed and reassured.
And the Global Perspective

Increased foreign investment in the U.S. is expected to lead to a significant rise in inbound relocations, as companies seek to capitalize on new opportunities and establish a stronger presence in the American market. This influx of foreign capital will necessitate the movement of skilled professionals and executives to the U.S., driving demand for relocation services and support. However, the imposition of tariffs could have a reactionary impact on immigration policies, complicating the mobility of this in-demand talent across borders. Companies will need to navigate these challenges carefully to ensure they can attract and retain the necessary workforce.

The trend of reshoring manufacturing operations back to the U.S. will also drive a substantial pool of inbound talent to support these functions, including roles in production, logistics, and supply chain management.

The bottom line? Change can be uncomfortable, but it’s always manageable with the right support behind you and a proactive plan for moving forward. When you’re prepared and informed, you can better leverage these changes to create winning outcomes for your business. Need help with that? Talk to us!

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Written by Jennifer Connell

Weichert_Jennifer_Connell

Jennifer Connell, SCRP, SGMS-T, is Vice President of Weichert’s Advisory Services group. She has over 25 years of experience in the workforce mobility and employee benefits industries and is a recipient of Worldwide ERC’s Distinguished Service Award. She has spoken on workforce mobility topics at industry conferences throughout North America and written for mobility- and HR-themed blogs and magazines worldwide.

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