As 2017 kicks into full gear, it has become increasingly apparent that employees are more mobile that ever and that this trend will only continue. Assignee levels have increased by 25% over the past decade, and a further growth of 50% is predicted in the mobile workforce by 2020 according to the PwC report Managing Tomorrow’s People.
Relocate Magazine investigated these trends by having conversations with numerous corporations that provide global mobility programs. Five key trends can be identified from these conversations which influence the way mobility is managed – from supporting talent management to building an effective international leadership pipeline.
1. Centralization, with a regional lens – “Change is both constant and rapid and many companies have found they can be more nimble by centralizing their global mobility programs and maintaining regional administration.”
2. Transparent is the new black – “Precise, easily obtained, rapidly analyzed, timely, targeted and more extensive data, metrics and reporting play a considerable role in the decisions made by global mobility professionals and their companies. Organizations are using mobility data to make policy and deployment decisions, create financial forecasts and formulate projections about possible organizational and program outcomes.”
3. Ownership is changing hands – “Ownership is changing: companies are shifting to an HR ‘shared services’ model, with global mobility reporting in to this department.”
4. On the wane: traditional global assignments – “Traditional long-term assignments are continuing to dwindle. They’re expensive, and often come with a six figure price tag. More cost-effective assignment options include permanent relocations, local-plus packages and short-term assignments.”
5. Compliance is a serious business – “It’s the nature of global expansion that the risk increases exponentially with opportunities for growth. The more global and mobile the workforce, the greater the potential for immigration, tax, legal and regulatory mishaps.”
What these trends point towards is the need for greater flexibility with relocation programs. As assignments become shorter and new technology allows greater capabilities to work from across the country and overseas, being nimble is the best way to proactively plan for attracting top talent and ensuring your top producers are set up where you need them to be.
If you would like to learn more about global mobility trends or what Archibald’s commitment to quality, flexibility and savings can mean for your relocation program, send us and email at email@example.com or give us a call at 503-726-7400.