Millennials move most for work, more than half on their own dime

The average millennial moves more than twice a year, more than baby boomers and Gen X.

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The top reason Americans move is for a new job, a Hire a Helper report found. However, millennials are most likely to move for this reason, with 41% citing a new job as the motivation for relocation. Baby boomers (27%) and Gen Xers (29%) instead cited a "fresh start" as their main reason for moving, the report found. 

The report surveyed nearly 1,000 Americans to determine why people uproot their lives to move to a new location. While jobs are the top reason people move overall, the majority of companies causing the move don't offer any financial assistance. 

SEE: Recruiting and hiring top talent: A guide for business leaders (free PDF) (TechRepublic)

More than half (58%) of respondents who moved for a job said their company did not provide any financial help during the relocation. The average cost of a local move is $1,300, while a long-distance move typically totals approximately $6,000, becoming burdensome for some people, the report said. 

The significant cost of moving had either a moderate or major effect on 51% of respondents' decision to accept a job offer, indicating that companies may want to consider monetary benefits when looking for non-local talent. 

Moving to a new city or state is intimidating for employees, making financial assistance especially helpful for reducing stress. Nearly 40% of employees said they don't feel like experts in their new city, the report found. People who felt overwhelmed in their new location took an average of 3.7 months to get around without using directions. 

Companies also need to welcome employees who relocate, since 35% of employees reported making their first friends at work. Other respondents who moved to a new city for work said they used social media (24%), clubs/groups (20%), a gym (20%), and city events (17%) to make friends. 

If companies want to land top talent, they must offer top benefits, particularly to employees moving long distances, the report found. 

For advice on how to attract these hires, check out How to recruit a new hire from out of state, and keep them for the long term on TechRepublic. 

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