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BOSTON - January 6, 2009 - With the beginning of a new year, many people are looking forward to making a fresh start, especially those who were laid off from jobs in 2008. One option that people who are still unemployed may now be seriously considering, as employers have eliminated millions of positions, is whether to relocate for another job, according to ClearRock, an executive coaching and outplacement firm headquartered in Boston.
In a normal economy, about 10% or fewer laid-off employees relocate to find their next jobs. However, with almost 2 million fewer jobs in the labor force today than there were at the beginning of last year, and the combined unemployment/underemployment rate at approximately 12%, more employees than usual are weighing whether to relocate, according to ClearRock.
"Relocating for a job is not the best solution for everyone, particularly those with children in school, and for older, more experienced employees. Younger candidates with fewer ties and greater flexibility are more suitable for, and open to, relocation," said Ali Chambers, vice president with ClearRock.
"Before making a decision of such an important scope and scale as relocating, job seekers should ensure that they have exhausted every available alternative in their local and nearby communities," added Chambers.
ClearRock offers the following advice to people who are weighing the decision whether to relocate:
- Do not consider moving until you have completely run out of other options - "After
job-seekers have examined all local opportunities that are a direct fit with their skills, and have exhausted all prospects in other industries to which they can transfer their skills, relocation may be an appropriate alternative," according to Chambers.
- Closely examine your financial situation - "The length of time you have been looking for a new position, and your ability to withstand what could be a prolonged job search, are also important factors in a relocation decision," said Chambers.
- Carefully evaluate your family's feelings about relocating - "How your family regards a relocation, especially if you are in a dual career household, and/or have children in school, is one of the most important factors. You will need their support, as well as their happiness, to be successful once you have moved. Disrupting a family without adequate input can be more costly in the long run," said Chambers.
- Relocation may be the right move if you are fed up with the status quo - "When
job-seekers have simply ‘had it' with living in their area due to taxes, the weather, or other things, and were considering moving anyway, relocation may be an answer," said Chambers.
- Moving may also be suitable if there is no local match for specific skills - "Relocation may be an option for employees with extremely specific skills who cannot find work in their occupational field, such as research and development scientists," said Chambers.
- Your management level may also be pricing you out of the local job market - "The higher up you are in the organizational ladder, the fewer career possibilities there may be within a certain geography," said Chambers.
- Your career should benefit from making a move - "A relocation should enhance your resume and be a great opportunity to build on your career progression so that it will make you more marketable in the future," said Chambers.
- Determine what type of financial assistance you will receive from a new employer for relocating - "Whether a new employer will help pay for the relocation, as well as any loss on the sale of your home, also needs to be factored in. Fewer employers in this buyers' job market are willing to pay for relocations and losses on the sale of housing, while unemployed candidates are more reluctant to compound their financial situations with housing losses," said Chambers.
- Travel to the new area and spend some time there before deciding to move - "Gain
first-hand knowledge of your chosen area to allow decision-makers in the family to be confident with their choice," said Chambers.
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