Cost control, but not only.
If cost control is still a top challenge for employers when designing their mobility programs, it is far from being their only focus. One clear trend is increasing complexity: with stronger demand for flexibility, one-size-fits-all is not an option anymore. But opportunities lie ahead too, as the mobile employees become a key asset in globalised economies.
- The evolving profile of expatriate employees, with new generations and countries entering the scene, offer companies both the opportunity and challenge to manage an increasing variety of mobility programs
- Introducing greater flexibility can help not only comply with budget constraints, but also address needs and expectations of different generations of employees, as confirmed by three-quarters of companies responding to the Cartus mobility survey (2014)
- Mobility practices are increasingly integrated in overall business strategies, in particular linked to expansion into new markets
- If expatriates are an asset in globalised economies, companies face an extra challenge in balancing the imperative for cost control with longer term strategic growth objectives
- Measurement: it is essential to integrate variety into the most appropriate monitoring system, by identifying right data and analytic approach
- More and more companies are adopting a global approach to coordinate tailored solutions with central governance and control, thus matching cost control with enhanced return on investment and strategic growth
- Employees increasingly value not only an attractive compensation but also meaningful careers and relations with their employer. They are global citizens but face a less secure future. Clearly communicating your commitment to their protection, wherever they are and will be, is key to retain them and ensure the success of your assignment projects.
- Gauging risks: 2014 proved not all risks can be predicted and uncertainty should be a central component in employers strategies. The Ebola crisis and impact of global terrorism signal the need to protect your investment abroad with rapid response and assistance capacity at global scale.