By Barry Morris
Welcome to CapRelo's LinkedIn Blog Edition where we dive right into global mobility leadership with firsthand expertise to address the many challenges and changes that affect the relocation industry. This month we sat down with Barry Morris, President and CEO of CapRelo, to discuss the top three global mobility trends that you should know about. So let's dive right into Barry's top three trends to watch!
3 Mobility Trends to Watch
From HR to finance, global mobility has always presented complex challenges affecting multiple business disciplines. Industry experts have seen the influences of several key global mobility trends. Employee needs are shifting away from the traditional demands we typically see. The methods we're applying to help manage them are changing too. Three specific global mobility trends have piqued my interest this year. These trends are exciting to because I think they present significant opportunities for companies to improve their business strategies for managing global employee mobility.
Dual Career Couples
Relocating employees whose spouse or partner is also pursuing a career are now the rule rather than the exception. Fifty-six percent (56%) of prospective workers decline an overseas job because of family concerns or the perceived effect on a partner's career. Accommodating the dual-career family impacts global mobility managers for than ever. Relocating a modern family abroad can no longer be accomplished as simply as it was when a single earner was the norm. Now companies must consider policies that might include such options as spouse/partner assistance with job hunting, work permits, income replacement, or other means of compensating for the loss of a partner's job.
The Employee Experience
We see companies beginning to place more focus on better preparing their employees for their move. As common as global assignments/location change has become for companies and their employees, it is crucial that they stay trained and experienced to keep that competitive advantage. These global mobility trends mean that companies are supplying much more support and are becoming increasingly hands-on in the management of that preparation. Support ranges from social events to acclimate the employee to formal cross-cultural training and education.
The Shifting Role of Global Mobility
The demands of the dual-income family and improved assimilation experiences call for a significant shift of the part of global mobility departments. We see these departments and the managers who lead them taking on additional roles as advisers or consultants for the employees in a much more extensive way than ever before. Employees and senior leadership are relying on global mobility professionals for advice and help regarding everything from payroll and P&L forecasting to cultural acclimation. More than fifty percent (50%) of companies are adjusting their global mobility policies to more flexible ones that better fit the dynamic needs of their employees and families
As we can tell from these 3 global mobility trends, we're seeing an unprecedented change to the conventional methods of global relocation. One-size-fits-all policies—and the accompanying mindset that clings to these policies—are facing substantial threats that must be faced head-on. Families change, cultures respond, and business must adapt. We see these necessary adaptations as rich opportunities to heighten employee satisfaction and improve enterprise performance across the P&L and around the world.