Korn/Ferry Survey: "Extreme Commuting" Emerges as Attractive Alternative to Executive Relocation
LOS ANGELES, November 12, 2007 – Executives are increasingly open to “extreme commuting,” which involves traveling by plane to work and back each week or by car for more than 90 minutes one way each day, as an alternative to relocation, according to 70 percent of international recruiters who completed the 12th edition of the quarterly Executive Recruiter Index, released today by Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions.
More than half of executive recruiters (55 percent) indicate that it is more difficult today than in the past to convince candidates to relocate for new job opportunities. Family ties are the leading reason for resistance, according to half of the recruiters surveyed, while lifestyle factors (25 percent) and housing market costs (10 percent) are also contributing factors.
“Executives’ family and lifestyle considerations are prompting employers to rethink relocation requirements in order to attract the best and the brightest talent,” said Jeff Hocking, managing director of Korn/Ferry International’s San Francisco office. “Besides enhanced relocation packages, both employers and candidates today are considering alternatives to moving altogether, including extreme Monday through Friday travel.”
Additionally, four out of every five recruiters (82 percent) indicate that employers are at least somewhat open to having their executives conduct frequent business travel instead of relocation. This trend appears to be particularly prevalent in the technology industry.
Where relocation is necessary, higher compensation is the incentive most commonly used to attract candidates, according to nearly two-thirds (64 percent) of recruiters surveyed, followed by flexible work environments (40 percent) and arrangements for family visits (37 percent).
Lastly, when asked how frequently an average executive in today’s business environment can expect to travel, the most common response was 10 to 15 weeks per year, cited by one-third (33 percent) of executive recruiters, followed by 15 to 20 weeks, cited by 22 percent.
Methodology The Executive Recruiter Index is based on a quarterly survey of 198 Korn/Ferry International consultants, who serve the world’s largest corporations and not-for-profit organizations. This survey was conducted online within the Americas, Asia Pacific, Europe, the Middle East and Africa from August 1-10, 2007.
About Korn/Ferry International Korn/Ferry International, with more than 80 offices in 39 countries, is a premier global provider of talent management solutions.Based in Los Angeles, the firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit www.kornferry.com.
