move and have to renegotiate a new rate, which has led to stagnation in the rental market in some regions. In both Europe and the UK,
these dynamics make it harder for relocating professionals to find housing at reasonable prices, especially in more desirable urban areas and in the suburbs of major cities. As a result, companies relocating employees may need to diversify housing options, exploring locations outside of traditional high-demand areas. This shift could reduce rental costs, though it requires more proactive planning and a detailed understanding of local property markets. As rental prices continue to rise
across the UK, particularly in cities like London, relocation budgets are increasingly strained. Companies are finding it necessary to rethink how they allocate budgets for employees moving to urban centres. In London, where rental prices can vary dramatically between boroughs, an effective relocation strategy might involve steering employees towards less expensive, but still accessible, areas.
PRIORITISING EMPLOYEE WELLBEING AND SAFETY In light of this, relocation experts are having to help manage both companies’ and assignees’ expectations, at the same time ensuring that the assignment rates positively for employee satisfaction. “There has always been a
requirement obviously to look after the individual and make sure they arrive and settle in well,” says
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Simon Johnston, CEO of Icon. “We are finding now that there is a greater need to be more proactive even before the relocation starts. Some of this is educating people in cultures and customs and giving them a realistic view of what they might expect. When somebody is relocating, it is a massive life decision and companies are having to balance assignee satisfaction against rising costs. By giving the relocating individual or family a mental map of how their experience might be, it helps to prepare them better.” He says that with discussions
around mental health increasing, we may see relocation solutions going further than ever to look after assignees’ mental health and wellbeing and supporting them in adjusting to their host country.
THE RISE OF ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) STANDARDS The impact of environmental, social and governance (ESG) criteria on the property and relocation market is growing. Companies are increasingly conscious of their environmental footprint and this is filtering into relocation strategies, refurbishing projects and client demands. For example, energy efficiency standards are becoming more stringent in the UK, with properties needing to meet certain energy ratings to be eligible for rent. While this is positive for sustainability, it reduces the pool of available properties. Older homes, often found in rural or suburban areas, may not meet these
standards, further limiting housing choices for relocating employees. Additionally, there is a growing
emphasis on reducing the carbon footprint associated with the relocation process itself. Some of this pressure comes from assignees and end users who want to live and travel as sustainably as possible. This includes initiatives such as streamlining shipping and packing up at the end of an assignment to avoid transporting unnecessary furniture and personal possessions. Striking a balance between sustainability goals and the practicality of relocation remains challenging, particularly when factoring in personal preferences and the challenge of finding good quality and affordable housing stock. “Companies are increasingly
exploring ways to reduce relocation costs without compromising on quality of life for the employee,” says Simon Johnston. “This might involve reducing the volume of personal items shipped to the new location or opting for more streamlined relocation packages that encourage employees to sell or donate
unneeded possessions
before moving.” He says that while reducing the
carbon footprint on a relocation journey is a priority, it is not always possible in some locations. Instead, it is a “balancing act” between what is desirable and what is achievable. “The conversation might be around can we be more proactive in helping somebody to make a decision about where they should be living, so their commuting time or miles are reduced,” he says.
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