Once you set a hierarchy up, you can rightclick the parent and choose "hierarchy > select all children", and then right click once more and choose "wrap selection", to get good movement around the layout view - all hierarchy parts will move together and resize proportionally too.
EDIT: Hmm, I checked keyboard shortcuts, I can see ENTER to wrap selection quickly, but don't see a "select all children of hierarchy" shortcut, unless W works (although it says this is for containers). If W works, then that's super convenient!