Tips for Getting Millennial “Vacation Movers” to Stay For GoodApril 25, 2017
Millennials are flocking to cities like San Francisco, Denver and Seattle, but a new Mayflower Mover Insights Study shows for many, these moves are only temporary.
Dubbed “vacation movers,” two in five (41 percent) of millennials have moved to a new city without the intention to settle down permanently. And, more than half of millennials say they’re likely to make a “vacation move” in the next five years.
Millennials are both practical and adventure seeking. The study shows their top reasons for making a vacation move are:
- To work at a new job (40 percent)
- A new lifestyle or experience (30 percent)
- To find a new job (26 percent)
The good news? Eighty-seven percent of millennials do plan to settle down in one city eventually, with one in four saying they’ll have a permanent home before age 30.
Here’s what they’re looking for in a city to call home:
- Job opportunities (66 percent)
- Affordable cost of living (60 percent)
- Good housing options (58 percent)
As cities continue to compete for the best and brightest talent, here are some key takeaways from a recent survey conducted by DCI that aims to educate communities on tactics to attract and retain a quality workforce:
- Jobs trump location. This means employers are your biggest talent attraction asset.
- It’s smart for economic development organizations to partner with local tourism groups to shape visitor perceptions of the place as somewhere they could live. First-hand experiences are key for millennials in choosing a location.
- Let the locals tell your story. Encourage residents to promote your region and its opportunities, and don’t underestimate the large influence they can have on friends and family regarding your city as a great place to live.
- Money talks. Salary plays a major role in people’s job search and relocation decisions. But don’t worry, if your salaries aren’t as high as other cities, be sure to market a low cost of living and affordable housing as a way to set yourself apart from the competition.
For more information on how to attract talent, check out DCI’s newest research report “Talent Wars: What People Look for In Jobs and Locations.”