PHILADELPHIA, PA, July 15, 2020 – In a survey of 545 Director, S/VP, and C-suite executives, only 27% of respondents indicated they would be willing to relocate for a new job. The survey was conducted by Salveson Stetson Group (SSG), a multi-specialty retained executive search firm in Philadelphia.
“The results, while not completely surprising, show that the pandemic has accelerated the trends we have been seeing on relocation over the past ten years,” said Sally Stetson, Co-Founder and Principal of Salveson Stetson Group.
Stetson further stated that the fact that almost three-quarters of the talent pool is unlikely to relocate will have an impact on how companies source talent and, more fundamentally, on how management teams will collaborate in the future.
“If organizations want access to the best talent they will need to adopt a more flexible approach to where that talent sits,” Stetson said. “Does a CFO need to be down the hall from her CEO in order to be effective, or is it now possible for them to collaborate across time zones and countries if the right tools are in place?”
SSG conducted the survey to understand how leaders are thinking about their career choices, work environments, and how they interact with their employers. The report compares responses from executives with those of HR leaders in charge of executing plans for workers to return to the workplace.
Given the fact that such a large percentage of the talent pool is unwilling to relocate for a new opportunity, providing the support and tools that allow leaders to work remotely on a permanent or indefinite basis will become more important for success,” according to SSG Principal, John Touey.
While the study shows that more than 85% of companies and executives feel comfortable that they have the tools and resources to work remotely over the next 12 months, companies are still catching up to create policies that more formally address the challenges and considerations of remote work.
“CEOs and their management teams are becoming more convinced that their employees can be just as, or more productive, in a remote environment. Currently, that productivity is focused on day-to-day tasks but there is ambiguity around how distributed leadership teams can be effective on innovation and growth projects,” Touey said.
Click here to read the complete survey report.