The relocation of corporate headquarters can be upsetting for employees. When planning a move, employers should highlight what's in it for workers, while considering if remote work is an option for those who won't relocate and revising employee handbooks.
Why Do Companies Move?
The main reason companies choose to relocate to another state is because the new home is employer-friendly with respect to its employment laws and has a pro-business regulatory environment, said Cristina Portela Solomon, an attorney with Foley & Lardner in Houston.
For example, Texas is considered an employer-friendly state, she said, noting it has a low tax burden—0 percent corporate income tax, 0 percent personal income tax and 8.25 percent combined sales tax rate—a healthy economy, a low cost of living and a skilled workforce.
These facts might be framed as beneficial for employees, particularly the absence of any personal income tax.
"Locations that have a strong workforce due to a robust post-secondary education system will meet the needs of a relocating employer," said Jazmyn Barrow, an attorney with Ogletree Deakins in Cleveland. The availability of a talented, diverse workforce is another key consideration for employers that are relocating headquarters, she said. Both reasons could be viewed favorably by workers, who might like proximity to a strong university system and a diverse work environment.
Human capital may be a driving factor behind a move, noted Richard Greenberg, Susan Groff...
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