Human Resources: Study by Human Capital Institute Reveals Workers’ Attitudes about Relocation

CHICAGO – November 16, 2007 – Today at the Chicago Talent Summit, the Human Capital Institute, a global think tank, educator and professional association will release a research study that examines the role community characteristics play in workers’ decisions about where to settle and where to seek their next job opportunity. The study was conducted in collaboration with Monster®, the leading global online careers and recruitment resource.
Authored by John Eggert, Ph.D., and Allan Schweyer the report, titled “Talent Markets: The Importance of Location in the Competition for Human Capital,” draws upon survey findings to guide employers and regional governments in becoming more effective at recruiting and retaining talent.

“Employers and governmental entities within a given region can play an important role in attracting new talent by promoting the unique advantages they offer to residents in concrete terms,” said Schweyer, president and executive director of the Human Capital Institute and author of ‘Talent Management Systems.’ “Our study found that the ‘brand,’ or perception of a city, is a critical factor in the decision-making process for candidates. Therefore, cities and employers that understand, manage and promote their brands will be best positioned to attract and keep knowledge workers of all ages.”

Key Findings:

•People are hard to move. The majority of respondents say they are satisfied with their community; therefore it is advisable to look for new employees among people in transition – recent college graduates or those who have recently lost their jobs, for example. However, companies should also seek to recruit workers who are in transition mentally but have not yet taken action; this could include new parents who feel increased financial pressures, or an older couple when one takes an early retirement, or an individual who is getting bored with a job.

•People think about cities in the abstract, but they make relocation decisions concretely. Job opportunities, clean and safe communities and cost of living are the most powerful factors in attracting talent to area particular region. However, as other amenities do help influence an individual recruit’s decision to move, these should be conveyed in as concrete a manner as possible. Don’t tell them about the lakefront; take them for a walk on the beach.

•The negative images of the city may have a stronger impact than the positive. Employers need to acknowledge less flattering misconceptions about their region and look to address them during the interviewing process. While these issues should not be the focus of an interview, listening for concerns and addressing them head-on can help mitigate negative preconceived notions.

•“Town and Gown” issues will not improve without more integration and alignment. Both corporations and universities need to continue to produce new knowledge to thrive, and must cooperate to ensure success. Corporations must learn about how the university prepares its future workers and should take an active role in making curriculum suggestions. Likewise, university faculty and administration should stay abreast of job market environment for which they are preparing their students.

Workers’ Top Three Preferred Metropolitan Areas
Survey respondents said their preferred top three metropolitan areas for job relocation, in order of preference, are:

San Diego
San Francisco
New York

The top three least preferred cities for relocation are, in order of least preference (some cities made both lists):

New York
Detroit
Los Angeles

New York made both the most and least preferred list. Respondents were asked to choose their first, second and third choice of cities to which they would consider relocating. FortiusOne has created a map that shows other hot spots throughout the country. http://www.geocommons.com/workspace/show/5255

ABOUT MONSTER

Celebrating its 10-year anniversary, Monster is the leading global online careers property. A division of Monster Worldwide (NASDAQ: MNST), Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 22 local language and content sites in 20 countries worldwide. Monster is the official online career management services sponsor of the 2004 U.S. Olympic Team. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://recruiter.monster.com.

ABOUT THE HUMAN CAPITAL INSTITUTE

The Human Capital Institute is a global think tank, educator, and professional association defining the agenda and setting the pace for the new business science of human capital management. With over 90,000 members in over 40 countries, HCI offers a new association framework that cuts across the silos of recruitment, HR/OD, finance, sales and marketing, operations, manufacturing and IT. We provide key executives, line managers and human capital professionals with the newest education, most effective tools and best practices in talent strategy, acquisition, alignment, engagement, deployment, measurement, and retention. The future belongs to leaders with innovative ideas and strategic knowledge. We invite you to learn, share and grow your career with HCI's comprehensive resources, and join our high-achieving, forward-looking membership community. For more information, please visit: www.humancapitalinstitute.org

Human Capital Institute
Laura Polas
866-538-1909