Last week, members of our CapRelo team attended the Worldwide ERC Global Workforce Symposium in Boston, MA. Throughout the event, we tweeted pictures, observations and tidbits of information learned during the sessions we attended.
Multigenerational Workforce and Millennials
Several of the sessions we attended discussed millennials. Did you know that EVERY 8 seconds a millennial joins the workforce and every 8.5 seconds a baby boomer leaves the workforce? Here's a brief summary of some of the things we learned.
Five things to keep in mind about Millennials as transferees:
- They move less stuff
- They don't mind frequent moves
- They require less "kid" services
- They are quicker to leave
- They want an "experience"
Millennials at a glance:
- Strong appetite for working abroad
- See an international experience as an opportunity for progression
- Committed to training and development
- Seeking a simulating atmosphere that creatively blends work and life
But most of all:
Relocation Service requests for Proposals
We also learned a little bit about what corporations consider before going out to RFP for relocation services and the process they follow to identify the right provider. We found out what some experts say about the "why" of the RFP. The most important factors for issuing an RFP?
- Service enhancements
- Cost savings
- Time since the last market investigation
- Perceived opportunity based on market knowledge
- Current supplier not performing
- Awareness of what the end state needs to look like (big picture) and the ability to communicate that
- Buy in from leadership
Tips for a Global Work Environment
- Create teams, share ideas
- Recognize cultural differences, overcome barriers
- Encourage transnational innovations
- Legitimize diversity, manage complexity
- Encourage people to build bonds and personal relationships
We learned a lot, but we also made time for some fun!