LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Employee Relocation Services Industry – Procurement Intelligence Report.
The technology and healthcare industries are witnessing an exponential rise in merger and acquisition activities. These activities are considered as the results of the global expansion of the industries, strong cash reserves, and improving profit margins. Consequently, such activities will create substantial requirements for employee relocation services to place resources in the newly established facilities across geographies. With the diminishing talent pools across most of the developed countries, governments are relaxing their immigration laws which are inviting skilled workforce from other countries. These factors are contributing to the spend growth of the employee relocation services industry to a significant extent accelerating the spend momentum at a CAGR of more than 3% through 2023.
“Despite an initial setback in the spend growth owing to the popularity of the work-from-home culture in the US, an increase in the frequency of merger and acquisition activities will continue creating substantial demand for employee relocation services,” says SpendEdge procurement research analyst Tridib Bora.
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Some Insights into the Employee Relocation Services Price Trends
Packaging material is used as an essential material for the services rendered during relocation. The rise in the costs of materials such as paper, which are used for manufacturing packaging such as corrugated boxes will increase the supplier’s spend on packaging material which, in turn, will impact the procurement price in the employee relocation services industry.
- Suppliers essentially partner with regional agents to facilitate effective transportation and training programs to the relocated employees of their buyers. The increasing prices of oil and gas and employee expenses are adding to the operating expenditure of these regional agents. Consequently, this will have an inflationary impact on the employee relocation services price.
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What are the scopes of optimizing procurement spend in the employee relocation services industry?
The employee relocation services price trends indicate a substantial hike in suppliers’ overall production costs which will be ultimately compensated by buyers in the form of excess procurement spend. Strategic selection of employee relocation services suppliers will be the key to unlock avenues where buyers can compromise on their procurement spend.
Determination of the geographic footprint of suppliers will help buyers understand the latter’s ability to serve in all the regions of operation of the buyers, either directly or through service partners. This will allow buyers to develop engagement strategies such as association with a single service provider, which, in turn, leads to cost-saving opportunities.
- Buyers are advised to assess factors such as the number of resources assigned by suppliers for a particular contract, experience, and qualifications of these consultants in their respective domains, and the level of adoption of technologies for easy service monitoring and tracking. This will help buyers gain an understanding of suppliers' ability to optimize resource utilization and provide cost savings.
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Some of the key topics covered in this report are:
- Employee relocation services industry spend segmentation by region
- Total cost of ownership analysis in the employee relocation services industry
- Regional spend opportunity for employee relocation services suppliers
- Employee relocation services suppliers cost structure
- Employee relocation services suppliers selection criteria
- Employee relocation services suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the employee relocation services industry
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