Every game requires training and preparation
Relocating to an area in the vicinity of the Games over the next 18 months will need extra care and planning according to Pricoa Relocation.
As always, the 2012 Olympic Games being held in and around London promise to be an exciting spectacle.
Those relocating to this area over the next 18 months need to take extra time to plan and prepare for the extra activity which the Olympics will bring to any major metropolitan area hosting this major event.
The UK Border Agency estimates the numbers of Olympic athletes, Paralympics athletes, coaches, officials, press, and media attending ‘The Games' to be over 40,000 during the 60-day sporting event. They also expect the ‘Olympic Effect' to cause a 3 percent rise in overseas visitors.
So what might a transferee expect if relocating to London?
Because the Border Agency and customs departments need to increase security, transferees should plan for delays in processing Visa and Immigration papers. There will be a partial closure of London streets. This means moving companies will experience access restrictions to certain roads. It also means the hours per day they can deliver Household Goods (HHG) will be reduced. Delays may affect clearing, shipping, and delivering HHG from overseas.
In some instances, delays may be 3 - 4 months before the Game open. So planning now is essential.
Based on previous Olympics, temporary accommodation suffered a shortage. For the London metro area, Pricoa Relocation expects shortages in the City, East London, and Canary Wharf. And, since several events will be in Hyde Park, expect accommodation shortages in the Kensington, South Kensington, Notting Hill, Mayfair, and Marylebone areas.
Landlords renting long-term properties may be reluctant to accept second-year renewals to take advantage of higher rates for short-term lets. If your transferees will be in London metro area during this time, be proactive and discuss the situation with them and landlords now.
Residential agencies predict long-term lets and temporary accommodations may rise by 10 - 15 percent in the next 18 months. Companies not using a fixed cost approach for HHG may see massive increases in their relocation budgets. This may be the case, as moving companies encourage more expensive shuttle methods for air, sea, and road.
How expats can avoid this increase in relocation budget
Earlier or postponed relocation
Consider the shortage of properties and the delay HHG arrival and relocate your transferees before May 2012 or after September 2012.
Home search in advance
We encourage Global Mobility Specialists to organise a ‘home search' trip before relocating the transferee thus avoiding the need for a serviced apartment. If you like this solution, also consider including rental furniture in your budget until HHG are released.
Consider a fixed cost approach to HHG
Fixing the cost of HHG for the year can minimise the affect of sudden price increases. Read our article Quote vs. Fixed Model at http://www.pricoarelocation.com/resource_library.htm
Increase communication with your transferees
During the 2012 Olympics, brief your transferees routinely. Explain this unusual situation for any large city. Help them understand that ‘flexibility in how they approach' their relocation can still be an exciting adventure. Reassure them that HHG delivery, home search, and location of their serviced apartments need not be looked at negatively because Pricoa Relocation Services as their partner will help.
Prepare and Train . . . Just Like the Olympians
1. Consider now how the ‘Olympic Effect' may influence your employees' relocation and your business.
2. Plan ahead with your suppliers. Discuss what steps they are going to take to help you avoid issues.
Pricoa Relocation's objective is to help you prepare and train for the Olympic Effect. We want your transferees and you to both win. We'll keep you updated with new information on this subject.
In fact, this June 2011, Pricoa Relocation is conducting a Workshop focused on Relocation and the Olympics. To register, email firstname.lastname@example.org.
Learn more about our trends in relocation at www.pricoarelocation.com
© 2011 Pricoa Relocation Services a division of Prudential Financial, Inc. and its related entities.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.