Mobility - February 2021 - 37

a high-rise temporary apartment building might
have eight to 12 units per floor, thereby reducing
the risk of unwanted contact.

Opportunities Amid the Challenges
Despite the challenges, many of the participants
at the Global Mobility Roundtable's November
gathering were excited about potential opportunities arising from the new workplace paradigm,
says Portale.
All aspects of the relocation industry were
moving toward increased use of technology and
automation prior to the pandemic, which only
served to accelerate the trend. Experts say clients
and transferees alike are demanding more techsavvy solutions, from video home tours to remote
notaries, automated appraisals and e-closings to
automated temporary housing request systems,
electronic invoicing, and mobile apps.
Then there's the positive impact work-from-anywhere could have on a company's diversity, equity,
and inclusion initiatives. Housing affordability is
another area where self-relocation can be a boon as
employees move to lower-cost markets, with benefits
accruing to themselves as well as their employers.
And some of RELO Direct®'s clients have expressed
interest in creative new relocation policies, such as
offering relocation services to retiring employees as a
retirement benefit or providing low-cost or no-cost
relocation assistance programs for self-relocating
employees who normally would not be covered under
a company's traditional relocation benefits package.
" Ultimately, corporations are trying to establish
policies for this future work environment-as
employees look to self-relocate for all the reasons
you would suspect-that support and create the
right suite of benefits, " says Portale. " These policies
not only support employee needs, but ultimately
drive a company's talent and recruiting efforts and
make them an employer of choice. "
D.H. Coburn is an award-winning business writer
and editor and communications consultant based in
Charlotte, North Carolina.

37
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or negotiated new terms. Supply also took a hit as
some smaller operators, as well as venture capital-
backed furnished apartment operators like Lyric
and Stay Alfred, have exited the business.
" Many of these operator relationships [with
their landlords] have lasted 10 or 15 years, so in
most cases people adjusted the inventories without
harm, " says James. " When demand rises again,
you'll see an influx of new apartments leased and
put into the marketplace. "
Even in Europe and around the world, where
temporary or " serviced " apartment operators typically own the properties they let, supply shouldn't
be an issue, according to James. One of Nomad's
U.K. suppliers owns a 60-unit apartment building
in London's Covent Garden district. " It operated
as a serviced apartment a year ago, and it's still
there, unfortunately with only 40% occupancy
today, " says James. " So they're weathering the
storm, and they eventually will go back up to 60
units. In some cases buildings have been sold or
repurposed into long-term rentals, but many of the
operators are just waiting through this. "
As in the for-sale housing market, temporary
housing operators are also responding to changing
needs of relocated employees, whose typical stays
range from 30 to 90 days, says James. Noise from
construction or other activity in the neighborhood
is one new concern for residents of temporary
apartments that has emerged during COVID,
because they may be working from home for
part of the week. Heightened sensitivities about
ambient noise should be part of the checklist
for corporate relocation practitioners and others
vetting corporate housing suppliers.
James has also noticed more transferees-and
even short-term business travelers who might
have used business hotels previously-taking
two-bedroom apartments so they can use one as a
dedicated home office. With social distancing still
a concern, some of those travelers are also favoring
temporary housing over hotels to avoid crowded
elevators. A typical high-rise business hotel might
have 17 floors with 60 to 70 rooms per floor, while


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Mobility - February 2021

Table of Contents for the Digital Edition of Mobility - February 2021

Mobility - February 2021 - Cover1
Mobility - February 2021 - Cover2
Mobility - February 2021 - 1
Mobility - February 2021 - 2
Mobility - February 2021 - 3
Mobility - February 2021 - 4
Mobility - February 2021 - 5
Mobility - February 2021 - 6
Mobility - February 2021 - 7
Mobility - February 2021 - 8
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Mobility - February 2021 - 18
Mobility - February 2021 - 19
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Mobility - February 2021 - 21
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Mobility - February 2021 - 29
Mobility - February 2021 - 30
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Mobility - February 2021 - 35
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Mobility - February 2021 - 37
Mobility - February 2021 - 38
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Mobility - February 2021 - 40
Mobility - February 2021 - 41
Mobility - February 2021 - 42
Mobility - February 2021 - 43
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Mobility - February 2021 - 45
Mobility - February 2021 - 46
Mobility - February 2021 - 47
Mobility - February 2021 - 48
Mobility - February 2021 - 49
Mobility - February 2021 - 50
Mobility - February 2021 - 51
Mobility - February 2021 - 52
Mobility - February 2021 - 53
Mobility - February 2021 - 54
Mobility - February 2021 - 55
Mobility - February 2021 - 56
Mobility - February 2021 - Cover3
Mobility - February 2021 - Cover4
https://www.nxtbook.com/ygsreprints/WERC/mobility-april-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-march-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-february-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility_122020
https://www.nxtbook.com/ygsreprints/WERC/mobility_112020
https://www.nxtbook.com/ygsreprints/WERC/mobility_102020
https://www.nxtbook.com/ygsreprints/WERC/mobility_092020
https://www.nxtbook.com/ygsreprints/WERC/mobility_082020
https://www.nxtbook.com/ygsreprints/WERC/mobility_072020
https://www.nxtbook.com/ygsreprints/WERC/mobility_062020
https://www.nxtbook.com/ygsreprints/WERC/mobility_052020
https://www.nxtbook.com/ygsreprints/WERC/mobility_042020
https://www.nxtbook.com/ygsreprints/WERC/mobility_032020
https://www.nxtbook.com/ygsreprints/WERC/mobility_022020
https://www.nxtbook.com/ygsreprints/WERC/mobility_012020
https://www.nxtbook.com/ygsreprints/WERC/mobility_122019
https://www.nxtbook.com/ygsreprints/WERC/mobility_112019
https://www.nxtbook.com/ygsreprints/WERC/mobility_102019
https://www.nxtbook.com/ygsreprints/WERC/mobility_092019
https://www.nxtbook.com/ygsreprints/WERC/mobility_082019
https://www.nxtbook.com/ygsreprints/WERC/mobility_072019
https://www.nxtbook.com/ygsreprints/WERC/mobility_062019
https://www.nxtbook.com/ygsreprints/WERC/mobility_052019
https://www.nxtbook.com/ygsreprints/WERC/mobility_042019
https://www.nxtbook.com/ygsreprints/WERC/mobility_032019
https://www.nxtbook.com/ygsreprints/WERC/mobility_022019
https://www.nxtbook.com/ygsreprints/WERC/mobility_012019
https://www.nxtbookmedia.com