Unicorn (Candidate) Migration Trends to Consider

Let’s face the music, or the new reality that attracting executives to move across the country for an opportunity has become increasingly difficult for a variety of circumstances. As businesses look to recruit top talent at executive levels, understanding the shifts in migration trends before you launch a search, better yet, as you plan a position, might be the difference of landing a great candidate in a reasonable amount of time, or dragging out a search for the unicorn who can’t be found. Let’s look at some of the factors and trends together that might shape how your organization moves forward in conducting a national executive search. 


Understanding the 2024 Relocation Landscape 


The 2024 Allied Migration Report paints a picture of a U.S. population increasingly seeking affordable living spaces, a better work-life balance, and more favorable economic conditions. Despite a 20% overall decrease in interstate relocations from 2022 to 2024, the main driver of those relocating is the alignment of their personal and professional goals. 


The report also underscores the shift toward midsize cities and suburban areas as more desirable destinations. This trend is being driven by a combination of rising housing costs in major cities, economic uncertainty, and a greater demand for improved quality of life. Companies looking to relocate candidates must consider a range of factors to ensure that they are not only attracting talent but also providing a work environment that matches these evolving preferences. 


Here are 5 key aspects that companies should score themselves against to determine how desirable their location is for the market. Depending on how one scores, it can help highlight the probability of relocating or needing to adjust the candidate profile to match candidates in the current geographic market not needing relocation. 


1. Housing Affordability and Living Costs 


One of the most significant motivators for relocation in 2024 is housing affordability. In 2023, soaring housing costs in urban centers like San Francisco, Los Angeles, and Chicago pushed many people to consider smaller cities and suburban areas where the cost of living is lower. 


When relocating candidates, it's crucial for employers to consider how the cost of housing in their city or region will impact the candidate’s overall financial well-being. If your company is in a higher cost area, providing a sign-on bonus towards housing can be one lever to pull to cover the gap. 


2. Remote Work and Flexible Work Arrangements 


The rise of remote work in the wake of the pandemic continues to shape relocation patterns. With many employees now able to work from anywhere, some candidates are looking for jobs that allow them to live in more affordable or attractive locations while still benefiting from a competitive salary. The ability to work from home (or a hybrid model) has made relocation less about proximity to the office and more about finding a place that offers a better quality of life. 


For employers, it’s essential to evaluate whether the role can be offered remotely or with flexible work arrangements. If the company is headquartered in a high-cost city but allows employees to work from anywhere, the business might be able to attract candidates from more affordable regions while offering competitive salaries. On the other hand, if the position requires in-office attendance, it’s important to highlight the benefits of relocating to that city—such as lifestyle factors, community offerings, and career advancement opportunities. 


3. Job Market and Industry Opportunities 


Candidates are increasingly moving to regions where job markets are thriving, particularly in industries like technology, renewable energy, healthcare, and finance. The 2024 Allied Migration Report noted that states with growing job markets are experiencing strong inbound migration. How would classify your region’s overall job market? 


Candidates want to know that if they were to relocate, and for some reason down the road they leave the organization – what other opportunities exist for them locally. If there are no other reasonable and likely options related to their industry, or expertise - this can pose another hurdle that needs to be addressed. 


It’s essential to evaluate whether the region offers the kind of industry opportunities that will keep the candidate’s career trajectory on track. 


4. Tax Policies and Financial Incentives 


Tax policies are a key factor influencing relocation decisions in 2024. States with no income tax have seen an increase in inbound migration, with people moving to these states in search of more disposable income. The economic uncertainty and high inflation rates in 2024 have made individuals more conscious of their financial situations, and tax-friendly states are becoming increasingly attractive. 


Employers looking to relocate candidates should consider the tax implications of moving employees to specific regions. 


5. Quality of Life and Lifestyle Considerations 


Beyond financial factors, candidates are also considering lifestyle factors when deciding where to relocate for work. According to the 2024 Allied Migration Report, many people are moving to regions that offer a better balance of work and life, which includes access to quality healthcare, good schools, recreational activities, and a desirable climate. 


For employers, this means understanding the lifestyle preferences of potential candidates and emphasizing how the region supports these needs. 


What’s the Score? 


So how did your region score? How will it impact how you go to market with the position? Did you adjust the candidate profile to mirror what exists in the local candidate market, or is your region highly desirable to attract the unicorn? 


As migration patterns evolve, companies that adapt their candidate profiles and expectations to these shifting dynamics will be well-positioned to thrive in an increasingly mobile workforce. 

New Opportunity: Corporate Development Manager

By Christine Kennedy • March 12, 2025
Corporate Development Manager About the Company Impel is a family of companies that offer comprehensive flow management solutions in partnership with each other and the best manufacturers in the world. Each of Impels branches represent individual brand cultures and span the West Coast. Impel serves customers in water, wastewater, agriculture, industrial, manufacturing, energy and mining. Impel was founded in 2021 with a vision to build a “one-stop shop” to serve municipal and industrial fluid management needs by acquiring complementary capabilities in contiguous geographies. The platform launched with the first acquisition of PumpTech , a premier distributor of high-quality pumping products and systems serving the Pacific Northwest. Subsequent acquisitions have grown Impel to over ten fluid management companies throughout the US. Impel is backed by Pike Street Capital , a private equity firm based in Seattle, WA. Recently, Pike Street successfully raised capital to fund additional acquisitions. Impel is actively pursuing growth opportunities and remains focused on acquiring and partnering with family-owned and operated companies in the sector. About the Role This is a key position managing the acquisition process within Impel. You will participate in all aspects of the investment process including industry/market research, deal origination, strategy and execution, and relationship building with acquisition target owners, executives, investment bankers and other intermediaries. This is a great role if you’re looking to own the deal process and progress your skillset as a deal professional. This role will give you deep insight into the entire acquisition process while closing multiple deals a year. We are a fairly lean team and believe in cross functional work so come with a growth mindset and you will develop a skillset across each business function; Our team believes in developing our team members. Primary Responsibilities Perform company analysis, including initial screenings, financial modeling and valuation, due diligence, consultation with external advisors, and preparation of materials for internal investment meetings. Responsible for M&A project management processes to include, but not limited to, valuations, letters of intent, due diligence analysis, financial planning, and business case development. Analysis of risks and opportunities of M&A activities, translate this into fact-based and well-reasoned insights on the valuation and structural impact of various acquisitions. Drive market research and strategic fit analysis. Conduct research on prospective sector opportunities and market trends and develop and present data-based opinions to inform decision-making and price transactions. Participate on deal teams to help structure and execute transactions, including coordinating the deal process and legal and transactional documentation. Special projects working directly with C suite, functional leads, and regional vice presidents. Qualifications 2-6 years experience in private equity, consulting, financial DD/QoE, investment banking, accounting, or corporate M&A Exposure to other diligence areas including commercial, operational, market sizing, risk analysis, customer and supplier, agreement review, etc. Excel and PowerPoint expertise Value oriented Strong communication skills Commitment to high professional standards Credentials: CPA preferred Interested in Learning More? 180one is a retained search firm and has been engaged by Impel to manage this search. If interested in learning more about the opportunity, please contact Tom Haley /503.334.1350/ tom@180one.com

The 4 Letter Word That Every Private Company Should Know About – LTIP

By Greg Togni • March 10, 2025
Long Term Incentive Plans (LTIPs) and Why to Implement Executive compensation is a nuanced and multifaceted subject that involves a delicate balance between rewarding top talent and aligning their interests with the long-term success of the organization. Typically, executive pay packages consist of three primary components: base salary, annual bonuses, and long-term incentive plans (LTIPs). While base salary and annual bonuses have historically been the most visible and commonly discussed elements of executive compensation, LTIPs are increasingly being recognized as the third and arguably most important leg of the stool. LTIPs serve as a tool for aligning the goals of executives with those of the company over the long term, offering rewards that are tied to the sustained growth and profitability of the organization. As businesses evolve and face growing challenges, LTIPs have become a central component in shaping how executives are compensated, ensuring they remain focused on creating long-term shareholder value. Over the past 75 years, LTIPs have been a common feature in public companies, where stock options, performance shares, and other equity-based incentives align executives with shareholder interests. It hasn’t been until the past couple of decades that private companies have implemented LTIPs to align executives' interests with the long-term success of the company, but also almost out of necessity to compete for the same talent who might already possess an LTIP as part of their compensation. What Are Long-Term Incentive Plans (LTIPs)? Long-Term Incentive Plans (LTIPs) are compensation structures designed to reward executives for achieving long-term business goals. Unlike annual bonuses, which are typically tied to short-term financial metrics, LTIPs are structured to reward performance over a longer time horizon—usually three to five years or more. The primary purpose of LTIPs is to ensure that executives are motivated to focus on sustainable growth, value creation, and the long-term health of the company. The Factors Driving the Adoption of LTIPs in Private Companies According to a survey by WorldatWork, approximately 63% of private companies are using LTIPs as a means of rewarding executives and aligning their interests with the company’s long-term success. Several factors have contributed to the rise in popularity of LTIPs in private companies, ranging from the quest for competitive advantage to changes in organizational dynamics and evolving employee expectations. But the following reasons might shed additional insight: Companies with LTIPs Have 30% Higher Revenue Growth: Research by the National Center for Employee Ownership (NCEO) found that companies that implement equity-based LTIPs experience 30% higher revenue growth compared to those that do not. The statistic underscores the positive impact of LTIPs on a company’s overall performance, as they drive executive focus on achieving goals that lead to sustained revenue growth, innovation, and market expansion. 91% of Executives in Private Companies Cite LTIPs as Key to Retention: A survey by Korn Ferry found that 91% of executives in privately held companies consider LTIPs an essential factor in their decision to stay with the company. The statistics demonstrate the significant role LTIPs play in retaining key talent, ensuring that executives are motivated to stay with the company over the long term. By offering equity-based compensation, companies can reduce turnover and keep their leadership team focused on long-term objectives. Companies With LTIPs Are 50% More Likely to Meet Exit Targets: According to a report by Bain & Company, private companies that implement LTIPs are 50% more likely to meet or exceed their exit targets during mergers, acquisitions, or initial public offerings (IPOs). By aligning executives' interests with long-term value creation, LTIPs motivate leadership to work toward achieving the performance metrics that will maximize the company’s value at the time of sale or public offering. Transitioning Ownership and Succession Planning: For family-owned businesses or privately held companies with a significant ownership stake held by a small group, succession planning is another critical factor in the decision to adopt LTIPs. As the company grows and the leadership team evolves, there may be a need to transition ownership to new management. LTIPs can help retain key executives during this period of change, providing financial incentives that keep the team focused on the company’s long-term growth even during periods of uncertainty. As businesses strive to remain competitive and evolve in an increasingly dynamic marketplace, the adoption of LTIPs has evolved as a key driver for optimizing performance. No longer limited to public companies; private companies have increasingly recognized the benefit and need for these compensation structures. Perhaps adding these 4 simple letters (L-T-I-P) to a company’s compensation program could be the difference maker that they’ve been looking for.

New Opportunity: Assistant General Counsel

By Greg Togni • March 3, 2025
Assistant General Counsel With roots going back to the 1960’s, Forest City Trading Group (FCTG), may have started as a small lumber yard run by two immigrant brothers, but has since grown into North America’s largest wholesale lumber product distributor. FCTG facilitates the distribution of products across 6 continents through our network of 12 operating companies and over 800 employees. The company’s impact is far-reaching, especially when considering that one in every ten houses today is built using products sourced and sold by our operating companies. As proponents of forest sustainability, FCTG actively supports suppliers who use sustainable forest management practices that promote forest sustainability and result in long-term environmental, social, and economic benefits. Due to significant growth over the last decade, and expecting strong growth in years to come, FCTG is adding an Assistant General Counsel to their legal team to support growth and help scale the business. Position Overview Forest City Trading Group is seeking a highly motivated and skilled Assistant General Counsel to report directly to, and support, the General Counsel and assist in managing the company's legal operations. The ideal candidate will have strong legal expertise, excellent communication skills, and the ability to collaborate effectively across different business units. This position offers an exciting opportunity to be a part of a dynamic team while contributing to the growth and success of the company. Key Responsibilities Provide legal support to the General Counsel on a variety of corporate, commercial, regulatory, and operational matters. Assist in the company's legal department operations, including document management, contract review and negotiation, legal strategy, and corporate governance. Draft, review, and negotiate contracts, agreements, and other legal documents to ensure compliance with applicable laws and regulations. Assist with the management of corporate compliance and risk management programs, including conducting legal risk assessments and providing recommendations for mitigation. Collaborate with cross-functional teams (e.g., finance, IT, human resources, marketing, trading operations) to provide legal guidance on operational and business issues. Advise on employment law matters, including policies, employee relations, and compliance with federal and state employment laws. Handle legal research and due diligence for mergers, acquisitions, and other corporate transactions as needed. Manage outside counsel and vendors, ensuring legal matters are handled efficiently and cost-effectively. Assist with litigation and dispute resolution matters, including managing internal investigations, handling settlement negotiations, and overseeing litigation strategy. Stay updated on legal developments and regulatory changes that may impact the company’s operations and provide proactive legal solutions. Qualifications and Skills Juris Doctor (JD) degree from an accredited law school. Licensed to practice law in Oregon. Minimum of 5 years of legal experience, with preference for some experience within a corporate or in-house legal environment. Experience in corporate governance, commercial contracts, employment law, and regulatory compliance. Strong analytical skills with the ability to identify and solve complex legal problems. Excellent written and verbal communication skills. Ability to work independently, manage multiple priorities, and maintain a high level of professionalism under pressure. Strong interpersonal skills and the ability to build effective relationships with internal stakeholders at all levels of the organization. Ability to handle confidential and sensitive information with discretion. Preferred Experiences Experience supporting operational functions, such as HR, marketing, and compliance, in a corporate setting. Previous experience managing outside counsel and coordinating legal projects. Experience with construction and material supply contracts. Interested in Learning More? 180one is a retained search firm and has been engaged by Forest City Trading Group to manage this search. If interested in learning more about the opportunity, please contact Lisa Heffernan/ 971.256.3076/ lisa@180one.com
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