40 Is the New 30: Employees in Their 40s Are Increasingly Being Asked to Relocate

40 Is the New 30: It used to be that the main candidates for corporate relocations were 30-somethings looking to move up the corporate ladder. Not anymore. Companies are now asking 40-somethings and seasoned veterans to relocate. It’s a development paralleling another workplace trend: the demand for higher-skilled workers. From 1973 to 1987, about 12 percent of transferees were over 40, according to Atlas Van Lines’ annual corporate relocation surveys. Today, the figure is around 30 percent. In addition, the demand for quality workers has emerged as the highest external factor affecting corporate relocations. Here’s another trend that emerged from the survey: Health benefits and full insurance coverage aren’t the only benefits being scaled back by employers these days. Over the past 40 years, reimbursement packages for transferees and new hires have been shrinking from full reimbursement for travel and moving expenses to partial reimbursement and lump-sum payments. However, perks such as spousal assistance in finding a job are up. It’s just one way companies are going above and beyond to lure top talent. Thirty years ago, most companies fully reimbursed transferees—in fact, the figure was close to 86 percent. Last year, slightly more than half offered the perk. It’s also a benefit fewer small companies are able to afford, and more large companies dish out. Other trends include an increase in international relocations and outsourcing, as well as the demand for a more skilled workforce.