CapRelo Blog

Worldwide ERC Global Workforce Symposium wrap-up

Posted by Amy Mergler on Tue, Oct 13, 2015

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:

  1. They move less stuff
  2. They don't mind frequent moves
  3. They require less "kid" services
  4. They are quicker to leave
  5. 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?

  • Innovation
  • 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

  1. Create teams, share ideas
  2. Recognize cultural differences, overcome barriers
  3. Encourage transnational innovations
  4. Legitimize diversity, manage complexity
  5. Encourage people to build bonds and personal relationships

 

We learned a lot, but we also made time for some fun!

 

 

 

 

Topics: workforce mobility, WorldwideERC, global mobility, millennials

Global Mobility Specialist (GMS®) Certification - What Is It?

Posted by Rick Bruce on Wed, Dec 18, 2013

Brian Shea accepting his Global Mobility Specialist certification
Brian Shea, accepting his GMS certification
from Laura and Peggy from WERC.
The Global Mobility Specialist (GMS®) certification identifies professionals involved in the employee relocation arena as being well-trained in global workforce mobility. The GMS® designation includes courses for initial certification and continuing education, which focus on both traditional and current global mobility trends.

GMS® Certification


Since Worldwide ERC® began the GMS® certification program in 2004; over 3,850 people have earned specialist designations through global mobility training. These certified professionals live and work in 58 different countries around the globe.
In 2010, Worldwide ERC® introduced the Senior Global Mobility Specialist (SGMS®) designation for those who have already earned certification as a GMS®. Since inception of this designation, almost 150 professionals have achieved SGMS® certification.

Why GMS® Certification Is Important


To maintain your GMS® certification one needs to complete the continuing education (CE) courses every three years. The GMS® program targets training and education for global mobility requirements, which can be much more complex than domestic relocations.

Having this designation or working with someone with this designation can help in the following circumstances:

  • You are an HR professional administering international relocation policies and programs.
  • You function as overseer and manager of global relocations that are administered by a third-party professional relocation firm.
  • You advise, consult or facilitate buying, selling or legal issues involved with international real estate transactions.
  • You have responsibilities for effective management of global tax issues and foreign taxation differences that affect transferees.
  • You are responsible for satisfying immigration requirements for employees relocating to foreign countries.

Free Article:  A Guide to Developing  Relocation Policies

The GMS® Certification Review Board helps ensure that this program curriculum remains up-to-date and current. This means you’ll be working with people who always receive pertinent information, whether they are pursuing their GMS® certification or the continuing education credits to keep their designation. Working with a certified GMS® is an important advantage to your transferees. Whether relocating domestically or internationally, transferees will appreciate the benefits of their certified knowledge.


Topics: workforce mobility, WorldwideERC, GMS

Do Your Employee Loss-on-Sale Relocation Policies Need a Second Look?

Posted by CapRelo on Thu, Dec 23, 2010

Relocation Policies

The fear of losing money on a home sale is one of the key factors that keeps employees from wanting to relocate. It's a valid fear in today's market, especially if employees homes are already “under water” (that is, they owe more on the mortgage than the home is worth) due to increased interest rates, second mortgages or home equity lines of credit.

One way corporations are making the decision to relocate easier for homeowners is with loss-on-sale policies that help employees recoup some of the financial loss they may face when they sell their current home. If your company doesn't have any loss-on-sale relocation policies -- or if you have one that hasn't been effective in increasing your workforce mobility, it may be time to give your employee loss-on-sale relocation policies a second look.

According to a survey completed by ERC, 46% of companies have a loss-on-sale policy in place. Another 18% deal with loss-on-sale on a case-by-case basis.

Loss-on-sale policies can add as much as 33% to a company's relocation costs. But not having such a policy can make employee relocation difficult, if not impossible in some cases. The most successful loss-on-sale relocation policies share financial responsibility with the seller in a way both parties find equitable.

Capital Relocation Services has been successfully implementing consistent and equitable loss on sale relocation policies for its clients since the start of the real estate crisis, and will help your company keep from reinventing the wheel each time you deal with an employee with a home that faces a loss-on-sale.

Topics: workforce mobility, Corporate Relocation Costs, loss-on-sale relocation policy

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