Unpopular Truth

Sometimes you need someone to be the cloud of that silver lining.?? The Debbie Downer.? Someone recently referred to me as a Debbie Downer because of disagreeing with a LinkedIn post about the amount of impact higher mortgage rates have on relocation. That as rates are anticipated to decrease soon, relocation activity will return to normal.?My?Debbie Downer response:? " Yes mortgage rates do impact relocation. However, in my opinion, there is something much bigger than mortgage rates that is impacting the mobility industry. ?We appear to be glancing over it and don’t hear many talking about its impact on relocation. It’s presenting our industry with a challenging dilemma; unlike any we've faced before.? ?The Remote Worker!? Not to be confused with the Hybrid Worker who lives close enough to come into the office. They are not synonymous with the Remote Worker, who accepts a position based on being allowed to work from home and not required to relocate.?

It is critical to understand that my willingness to confront uncomfortable truths stems from a genuine concern for the well-being of others. ?It is to speak out against the prevailing narrative and to highlight inconvenient challenges that may lie ahead that may be leading to dangerous complacency.?

Remote Work is posing complex challenges to our mobility industry. ?I acknowledge that numerous companies resumed in person office operations and many jobs will always require to be in office.? Let's say that 60% of companies do not support the work from home model and are back to the office, and 60% is being very conservative, means that about 40% of companies still have a significant work from home population.? ?The significance to our relocation industry is profound.?

So why is the impact of remote work on relocation so difficult to address and talk about?? Here is what I believe.?? Many of the economic issues that we have experienced in the past have for the most part been cyclical and eventually self- correct.? We adjust somewhat, but tend to "wait them out," for them to come full circle (i.e., mortgage rates, stock market, real estate).? Remote work is being looked at in this way. It will eventually return back to the office as the way it was.

However, we have never experienced such an economic phenomenon as Remote Work in such magnitude.? I am not aware of any historical data that concludes that Remote Work is cyclical.? Nor have seen any data that supports that those who were hired to work from home will eventually be mandated to relocate to their office location cities. ?

?I would even go as far as saying that more that workers continue to be hired as remote workers,?as time goes on, it will become even more difficult to require them to relocate to office location cities.? After COVID, many thought we would return once things settled down.? However, do we now still believe this or is this our industry's hope?? ??As we wait to get back to normal, is it possible that it is already here?? Is remote work the new normal?

Let me be very honest.? I don’t pretend to have the answer or solution. I am here to shed the light on the reality to help others see beyond allusions and hopefully ignites critical thinking and change.? Consider the implications of sustained remote work on operations and future strategies.? It's essential for individuals and companies to assess their long-term goals, anticipate potential challenges, and adapt their plans to succeed in a landscape where remote work continues to have a significant impact on our industry.? This goes beyond saving costs or reacting to higher mortgage rates.

While it may seem counterintuitive to take Debbie Downers in a positive light, there's an undeniable value we bring to the table.? In a society where optimism is often equated with strength and resilience, it takes courage to ask the tough questions and bring out the truth.? So, the next time you encounter a Debbie Downer, take a moment to appreciate their value- it might just lead you to a positive change.? ?

...And that the Other Side of the Coin!

Sincerely,

DD