Employee Relocation Management Market to Reach $33.5 Billion by 2020, Says Beroe Inc

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Oct 14, 2019, 09:15 ET

RALEIGH, North Carolina, Oct. 14, 2019 /PRNewswire/ -- The global employee relocation management market is currently estimated to be worth around $31.5 billion and is forecasted to grow at a CAGR of 3–4 percent till 2021, according to Beroe Inc, a procurement intelligence firm. The increasing number of international assignments in the US, Western Europe, Australia, Singapore, Japan, India, and China are driving the relocation services market.

The market size of employee relocation management is the largest in North America, currently worth $15.6 billion and growing at a rate of 2-3 percent while the APAC, having a valuation of has the fastest growth of 7–8 percent. High market maturity regions are the US, UK, Australia, and Western Europe while medium market maturity regions are Brazil, China, and Singapore. Low market maturity regions are North Korea, Vietnam, Indonesia, African countries, Chile, Colombia, and Peru.

https://www.beroeinc.com/category-intelligence/employee-relocation-management-market/

Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com

The rise in the number of international and domestic assignments has been the major driver for the growth of employee relocation services market in North America and Europe. The increasing number of IT and consulting assignments, and the expansion of operations of Fortune 500 organizations in developing economies have accelerated the outsourcing of relocation services to global service providers. The challenges faced by the employee relocation management market include compliance, difficulty with service delivery channels, costs of international assignments, and tiered policies.

The trends that are expected to have the most relevance until 2020 are the usage of technology, an increase in female assignees, adoption of data analytics, level of outsourcing, and consecutive assignments. International assignments are increasing in APAC and Middle East accelerating the demand for relocation services in this region while buyers in North America and Europe are outsourcing relocation services to global players that can offer end to end solutions. The pressure for cost reduction of relocation program is high which is typically attained by shortening the tenure of the international assignment

Key Findings:

Prevalent sourcing models are in-house, end-to-end service provider, bundled service providers, single service outsourcing, and multiple supplier outsourcing. In house forms a minimum part of the relocation globally with end-to-end service providers catering to F500 companies.
Supplier performance is measured in terms of global employee mobility experience, assignee satisfaction, updating technological capabilities, ability to reduce cost, better compliance and consistent application of policy conditions.
The use of technology with relocation management software support and adoption has helped both HR and mobility professionals to aid the companies in tracking, administering, and managing the relocation programs.
Regulatory complexity, inflation, and immigration restrictions in Latin American countries such as Brazil and Argentina are not supported by global players, hence the market is still at a nascent stage.
Major cost components are labor costs, including wages for administrative and back-office support; logistics costs which include transportation, and legal expenses; technology costs for implementation and maintenance, and recurring material costs.

The research methodology adopted for the report included:

Experts with twenty years of domain experience
Interaction with buyers
Inputs from supply chain partners

For small contracts, ranging in value from $5–25 million service providers have higher bargaining power while for medium to large contracts worth more than $25 million, buyers have higher bargaining power. The major KPIs for service providers are transferee satisfaction, on-time delivery, service evaluation return rate, and consultant's knowledge and responsiveness.

The report also includes:

Market Analysis:

Global Relocation Market Maturity
Global Relocation Industry Trends
Key Relocation Technology Adoption Trends
Global Relocation Drivers and Constraints
Regional Market Outlook
Industry Outlook - Relocation Affecting Factors
Porter's Five Forces - Developed and Emerging market

Supply Analysis:

Supply Market Outlook - Supply Trends and Insights
Technology Offerings - Supply Trends and Insights
Key Global & Regional Suppliers
Key Supplier Profiles
SWOT Analysis

Cost and Pricing Analysis:

Cost Structure Analysis - Major Spend Categorization
Spend Contribution
Cost components and Expected Savings
Cost structure Analysis
Employee Relocation Cost Saving Opportunity
Pricing Analysis

Procurement Best Practices:

Sourcing Models
Sourcing Models –Comparative Analysis
Sourcing Models: Pro's and Con's
Engagement strategies
Cross Industry Sourcing Model Adoption
Key Success Factors for Implementation
Pricing Models –Comparative Analysis
Regional Pricing Best Practices
KPI and SLA components

About Beroe Inc.:

Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.

To learn more about Beroe Inc., please visit: http://www.beroeinc.com

Media Contact:

Debobrata Hembram
[email protected]

SOURCE Beroe Inc.