When you’re looking for a reliable global mobility management company, there are numerous factors to take into consideration. At the top of your list should be the company’s financial standing.
Relocation is much more than just the physical move from point A to point B. At its core, a global mobility management company provides the support and stability an organization needs to ensure a smooth relocation. This includes providing services and reinforcement for business objectives, strategic training purposes and filling any potential gaps—all in addition to getting employees and their families and belongings from one location to the next. Most importantly, the mobility management company manages a number of financial aspects to support your global mobility program. Without a strong financial foundation, a mobility management company simply cannot operate effectively.
Why It Matters
One of the first things you should do when selecting a global mobility management partner is to research the company’s reputation for its professional and financial stability. If it’s not stable, how can it provide that security to you and your company? The global mobility management company may be responsible for managing the distribution of expense reimbursements to your relocating employees and payments to third-party vendors for the services they provide. Each of these transactions is an essential part of a relocation. When the company is financially stable, you can be confident that everyone is getting paid the right amount at the right time and that the process will continue uninterrupted.
Selecting a provider based solely on cost provided no insight as to its stability. Instead, consider its financial strength to ensure that your mobility management company can provide financial services for all the necessary pieces of the relocation puzzle, regardless of any external factors that may impact changes in the market.
Where It Helps Meet Objectives
Productivity is a common concern for all companies, regardless of industry: It drives the bottom line. During a relocation, the objective is to provide a smooth transition for your employee so that productivity is not affected and business continues as usual. As Czech Republic resource Expats points out, choosing an experienced and fiscally stable global mobility management company is of paramount importance. Support from a seasoned and financially sturdy mobility management company establishes a strong web of technical and human resources to provide the support necessary for continued productivity.
A mobility management company must have access to funds to make payments to employees and third-party vendors on time. Financial stability ensures there are no complications or hiccups regarding payments, helping everything run as smoothly as it should.
Financial support prevents delays in business goals and deadlines by acting as a safety net in the event of relocation mishaps. Without this support, it’s difficult to guarantee a mobility management company won’t go under in the midst of a move. Imagine an employee arriving to an unfamiliar country only to learn his or her belongings are stuck in customs, or even worse, were not even transported because suppliers were not paid. Stress from these types of situations negatively affects productivity.
Similarly, a global mobility management company should follow best safety and security practices to ease any anxiety related to the move, so employees can focus solely on getting acclimated and jumping right back into work.
Having the confidence that your mobility management company can provide the support needed to maintain productivity, meet business goals, ease the anxiety of relocating employees and fill any remaining gaps is essential.