Find talent without it moving

If you need talent in your workplace, you are encountering an obstacle that your predecessors did not experience.  You cannot move a family to your current location anymore with ease. 

Despite the insanity of the pandemic homebuying frenzy, Americans aren’t moving as often as they used to.  Many people moved in 2020 and the beginning of 2021, while interest rates were historically low and remote work allowed people to explore more affordable metros for the first time.  But numbers show that by 2022, that number had declined.  Data analyzed by the National Association of Realtors found that the moving rate has been declining overall for the past six years.

To make matters worse, mortgage rates are so high that only those with substantial savings accumulated have to ability to afford a new home.  Homes purchased at lower rates make moving impossible for many.  The current housing market offers a crushing affordability picture for would-be-homebuyers, and it is keeping many out of the market.  It has been steadily worsening for the past two years. 

Attracting and retaining the best talent in the market requires a solution that does not rely upon previously established practices.  Old strategies will yield the same results.