This article was originally published by Worldwide ERC on January 21, 2020. Click here to review the original article.
Survey research shows that C-suite executives are considering moving their companies to cheaper locales, while also weighing their options for remote work, vaccinations, and more.
In a survey of 150 C-Suite executives, consulting firm West Monroe found that more than a quarter of respondents are considering moving their operations to another cheaper location. This is one of the major implications of the overall shift to remote work, a key strategy to keep employees safe as the COVID-19 pandemic continues. However, for some companies, this shift away from the office has proven difficult. Respondents’ reasoning for considering a big move included high costs of talent and living in their respective locations, as well as taxes, real estate, and regulations.
Mobility Leads the Way in Relocation Considerations
Mobility professionals continue to lead the way in the overall navigation of employee taxation through this new normal of remote work. Already, millions of workers in the United States indicated that they’re considering relocating because of the widespread availability of remote work. With this comes the complexity of tax compliance, which mobility professionals have helped employers handle. Should major companies relocate to different locations as well, there’s sure to be even more tax paperwork to take on.
Employers Weigh the Return to Work and Vaccinations
Other issues in the case of remote work continue to be the return to the physical office space and the vaccination requirements that may come with that. As vaccines become more readily available, there could be a potential shift back to the office. However… Click to Read the Full Article on Worldwide ERC