CapRelo Blog

Global Mobility Management Company Financial Stability

Posted by Amy Mergler on Thu, Mar 07, 2019

Silhouette of businessman standing with back on hill topWhen 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.

Global Mobility Management Financial Stability Article

Topics: global mobility management company, global mobility management, financial stability

Benefits of Using Global Mobility Management Company Compensation Services

Posted by Amy Mergler on Thu, Aug 02, 2018

Top view of successful businessman standing near the entrance of labyrinthCompensation services are so complex that it may make sense for companies to outsource them to a specialist. Global mobility management companies have extensive experience working with the regulatory requirements of different countries, so they know the relevant intricacies of local compliance and reporting. Because they understand the challenges the employer faces, they know how to relieve the employer of the burden of administration so the company can concentrate on more strategic objectives. In addition, they understand the requirements of compensation data collection by country and can assume this laborious task for the employer.

Global mobility management companies that offer compensation services have technology and processes in place that allow for fast, accurate and compliant reporting. This eliminates the need for companies to invest in acquiring these platforms and results in considerable cost savings.

In addition, they provide the required expertise and manpower. This prevents employers from having to invest in acquiring employees with this knowledge, which can be both challenging and expensive when the level of expertise needed to manage compensation services for a number of different global locations is taken into account.

Furthermore, ensuring accurate, timely payroll and reporting prevents companies from running into problems with regulatory and tax agencies at home and host locations. Being compliant and responsible not only prevents problems, it can pave the way for more business opportunities in the host locations.

A global mobility program can offer significant value to a company, not only due to the business opportunities it presents, but also because it facilitates the attraction and retention of quality talent. However, to remain in compliance with the rules and regulations of various countries, a well-run global mobility program needs accurate, timely administration and bookkeeping. Working with a global compensation services provider offers companies a cost-effective way to gain access to the expertise, manpower and resources needed to maintain centralized, organized payroll and tax reporting. And when the service provider assumes the responsibility of maintaining the latest technology platforms, it frees up the company and its employees so they can concentrate on their core business efforts.

The Value of Global Compensation Services

Topics: compensation services, compensation and benefits, global compensation services, global mobility management company, global mobility policy

Streamline Global Mobility Success: Increase Efficiency and Lessen Risk

Posted by Amy Mergler on Mon, Jul 02, 2018

Process Optimization on the Mechanism of Metal Gears.All successful endeavors are the result of an efficient operation or organization. Coherence, order and precision oil the wheels of process and reveal the value of efficiency. A company with high organizational capacity is one that can deliver. This is especially true for global mobility management.

When you engage with a successful mobility management firm, you reap the benefits of solution-based practices, better focus and a strong and vetted support network. Outsourcing your mobility management services takes the heavy lifting off of your hands so you can spend time and resources on the big picture: continuing your company's success. Ultimately, handing over the reins to a trusted and seasoned mobility company provides faster decision-making capabilities, quicker response times and a significantly reduced exposure to the risks involved in this process. 

A professional and experienced global mobility management company streamlines all internal business processes and becomes your number one resource for a smooth transition.

Efficiency Matters

Citing research that close to 50% of employees are still under the impression that global mobility management services are intended merely for supporting those relocating, HRO Today reported that providing strategic and expert advice to company leaders and stakeholders should now be an expectation in the industry. Rather than waste time and resources on an overly bureaucratic and complex system, you want a mobility management company that gets things done in a smart, fast and practical manner. You also want a provider that can deliver on tactical analysis benefiting your company's business decisions, talent acquisition and bottom line.

Consider the benefits your company can gain by working with a reputable global mobility management company:

1. Response Time

Working with a global mobility management company that understands your organization and its specific needs fosters a trusted partnership. The opportunity to build a relationship with a seasoned single point of contact who identifies with your company's unique strategies can really set a mobility company apart from the competition. Having that single point of contact is not just beneficial for human resources and company leaders, but for the relocating employee as well.

2. Streamlined Solutions

When you're in the midst of a relocation, there can be a lot of moving pieces and important milestones. Regardless of what you're managing, you need a digital solution that offers quick, easy and seamless access to all of your information in one place. It is essential to have data for suppliers and orders, taxes and payroll, and policies and process controls under one roof to manage relocations efficiently. Furthermore, when integrating sensitive data, it is also imperative to ensure the protection of the company and your employees.

A streamlined solution can help automate tasks and processes while keeping your company on track to reach financial goals, deadlines and business objectives.

3. Alignment with Business Strategy

As detailed by Deloitte in its "Global Business Driven HR Transformation" report, global mobility management solutions are no longer effective as a one-size-fits-all formula. Instead, a carefully crafted plan specifically tailored to your business needs is essential to achieve your goals and bolster talent development, helping to ensure success before, during and after the relocation. When a global mobility management company is efficient in its operations, companies can benefit from the focus on unique strategies and goals, as well as most cost-effectively utilizing existing talent.

Global mobility management companies capable of delivering knowledgeable and seasoned guidance to your organization are crucial in matching business and talent development, according to Deloitte's findings. Proper guidance ensures that relocations and assignments are based on insightful research and planning, sending the right employees on the right endeavors.

According to The Society for Human Resource Management (SHRM), talent management ranks as the number one worry among most companies. The data highlights the need for a global mobility management company to work successfully in tandem with an organization's existing talent management program. This supplements the current initiatives to boost productivity and drive competition.

4. Reduced Risk

Rather than trying to navigate compliance, legalities and the fine print on your own, work with the expert itself: a global mobility management company. Collaborating with a group of experienced professionals that will dive right in and get the job done not only increases efficiency, but lowers risk as well.

According to calculations from FIDI (the largest global alliance of professional international moving and relocation companies), failed overseas assignments are not uncommon and they can result in costly financial burdens of up to US $400,000. When you include airfare, salary and bonuses, school tuition, housing costs, transportation needs, visa fees, ancillary charges and the taxes associated with these reimbursements, mobility is an expensive investment for any company to make. To help secure a return on this investment, it's imperative to partner with an experienced, trusted and efficient global mobility management company.

Leaning on the expertise of a global mobility management company can make a positive difference in the moving and adjustment period for employees. As Deloitte explains, professional services and resources that help employees and their families during a relocation are much more likely to reduce the risk of failed assignments.

 

When you want your company's business to continue full steam ahead during a relocation, engaging with an efficient global mobility management company can help deliver ideal response times, streamlined solutions, alignment with your business strategy and reduced risk. When you choose the right mobility management partner, you can be confident your business will meet or surpass its goals.

Streamline Success

Topics: global mobility, global mobility management company, mobility management company, mobility management, global mobility management

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