Welcome to the June 10 issue of Mobility Minute, a newsletter published each Friday by Worldwide ERC® for the benefit of members and the global mobility and relocation industry as a whole. If you have a news tip or a suggestion for improving the newsletter, drop us a line.
What's happening?
Here's a quick glimpse of what you'll find in this week's Mobility Minute:
US Requirement for COVID-19 test of air travelers suspended
Are workers more productive at home?
Homebuyers are looking for post-pandemic amenities
GWS 2022 Call For Proposals is open
Breaking News: Biden to Halt Covid-19 Test Requirement for Air Travelers to U.S.
Health officials have determined testing is no longer necessary, as of Sunday, based on available science and data. They will reassess the decision in 90 days. Just three days before the administration announcement a group of 38 mayors representing American cities and counties spanning Miami to San Francisco sent a letter to the Biden administration asking for the removal requirements for pre-departure testing as a requirement for U.S. entry by air for vaccinated individuals. “American cities are still struggling to regain international visitors after more than two years of pandemic-related restrictions. In 2021, international visitation was a staggering 78% below pre-pandemic levels. Our constituents and our businesses suffered greatly from this steep decline in international travel spending, and they cannot fully recover until this vital sector of the U.S. economy rebounds.” -Wall Street Journal
Research suggests workers may be more productive at home
According to data from Stanford University professor Nicholas Bloom, individuals who work remotely are more productive than they were early in the epidemic. According to researchers ' predictions, working from home will not disappear after the pandemic. Almost 40 percent of workdays in the United States begin and end at home. This number corroborates data from the office keycard maker Kastle, which found that workspace occupancy is at 43 percent. Remote work is expected to be around 25 to 30 percent, meaning that working from home will not vanish. While traffic has resumed to pre-pandemic levels in restaurants and hotels, business offices have yet to fully recover.
When asked in early 2021 about the share of their workers who would be back in the office five days a week in the future, executives said 50 percent; now that percentage is down to 20%
The ADP Research Institute found in an annual study of 32,000 workers that 71% of 18-24-year-olds are the most reluctant to return to the workplace full-time.
On the other hand...
Researchers at the University of Chicago published a study of 17,000 workers experiences after 18 months working from home and found that employees worked more hours even as their productivity declined as much as 19%
Researchers found "WFH employees had less focus time and spent more time participating in various types of meetings, but less time in personal meetings with their manager or receiving coaching". Women and those with less tenure in the company were seen to experience more impact on productivity. Fully 63% of remote leaders have experienced burnout in the past six months and 30% of remote leaders don’t have resources to support their team’s mental health. Read more on Worldwide ERC.
Homebuyer shifts in home amenities
For the past few years, many homebuyers have had time to think through what they want in a home. Since almost everyone has been spending more time at home, living space has become more important than ever. The pandemic caused the home to reach a new level of prominence in our lives; its purpose has expanded beyond just a functional dwelling to many other non-traditional roles. Entire families perform essential functions, such as schooling, work, shopping, and even healthcare visits from their homes using a screen and an internet connection. Amenities that support the home’s new functions have seen skyrocketing demand.
While amenities are specific to regions and individuals, more transferees across all demographics are turning to lower density areas outside of central cities, floor plans with space dedicated to activities such as home offices and exercise, more space, and eco-friendly and environmental designs. Read more on Worldwide ERC.
2022 Global Workforce Symposium Call for Proposals
We are seeking case studies of resiliency, innovation, and lessons learned in navigating the challenges and laying a course for a better future. The submission deadline is June 28, 2022. Selected proposals will be scheduled to be presented live at GWS in Las Vegas from October 26-28.
WHR Group becomes WHR Global. This name change reflects how WHR has grown from being a US relocation management company to a global mobility brand, with offices also in Singapore and Switzerland. WHR’s global expansion was critical to serve its clients’ ever-growing needs for worldwide global relocation services. -WHR Global
Graebel Board of Directors Receives Distinction as Private Company Board of the Year Winner “This award is particularly meaningful as it acknowledges the essential role of the board members who have helped guide our company through times of rapid and sustained change,” says Bill Graebel. “Through recessions or the pandemic, Graebel’s focus has not wavered; we are committed to putting people — clients, their mobile employees, supplier partners, and our employees — first." -Graebel
Aires named Relocation Management Company of the Year by the Forum for Expatriate Management at the Americas Expatriate Management & Mobility Awards (EMMAs). Aires was also awarded Best Global Mobility Sustainability Initiative of the Year. The judges in the Best Global Mobility Sustainability Initiative category commented, “Aires’ commitment to environmentally conscious business clearly extends beyond its office doors, and with its carbon offset and donation program, it reaches even beyond its work with its own customers around the world.” -Aires
Rebuilding Together and Wells Fargo Join to Address Urgent Housing Challenges Nationwide through Critical Home Renovation and Repairs. The Wells Fargo Foundation has awarded $1.3 million in grants to Rebuilding Together, a leading national nonprofit organization with a vision to ensure safe homes and communities for everyone, to provide critical home repairs to nearly 100 homes in 45 communities across the U.S. As part of the Wells Fargo Builds program, neighbors in need will receive essential home repairs at no cost, allowing residents to remain safe and healthy in their homes.- Wells Fargo
Global Economic Snapshot
US import demand is "dropping off a cliff" as inbound container volumes to the US are reverting to pre-pandemic levels -Freight Waves
From Walmart to Gap, retailers who banked inventory during the height of the supply chain crisis are looking to dramatically reduce inventory. -Wall Street Journal.
Home Buyers Finding Creative Ways to Make All-Cash Offers in Hot Market --Wall Street Journal
Mortgage-Application Index Falls to Lowest Level in 22 Years - Wall Street Journal
How fast your local housing market is cooling amid the Great Deceleration, as told by 2 interactive charts. -Fortune
Sales of luxury homes tumbled 17.8% year over year during the three months ending April 30, the largest drop since the onset of the pandemic. -Redfin
Homes in states with the highest share of same-sex couple households cost $116,000 more on average. -Forbes
On Tap
2022 Global Workforce Symposium Call for Proposals: We are seeking case studies of resiliency, innovation, and lessons learned in navigating the challenges and laying a course for a better future. The submission deadline is June 28, 2022. Selected proposals will be scheduled to be presented live at GWS in Las Vegas from October 26-28. For submission guidelines, click here. Sponsored sessions are also available. Learn more.
