It used to be that only the largest global organizations like ADP and ExxonMobil and IBM had a need for an actual global mobility program. These days it is not uncommon for small and mid-size organizations to receive obscure relocation requests from valuable employees or be presented with a unique business opportunity requiring “boots on the ground” in a foreign market.
All of the sudden, where is the global mobility program you didn’t know you needed?
Where to begin?
Global Mobility Trends shows the following are the top four biggest challenges pertaining to global mobility:
- Compliance/Risk Management
- Containing Mobility Costs
- Assignee and Family Adjustments
- Mobility Program Administration
And this is merely scratching the surface. Thankfully, there are a wide array of service providers and vendors that can help you through the challenge of Global Mobility programs.
- Look into local Relocation Networks, newsletters, or forums
- Call your international CPA firm, like EKS&H for expatriate tax management and other international tax matters related to global mobility
- Call Velocity Global for employer of record solutions
- Contact SHRM for valuable articles and resources
- Read this beginner’s guide white paper from Ernst & Young
Competing for Talent with Mobile Millennials:
Consider the onslaught of companies like Remote Year which seeks to streamline the process of working abroad. Experience shows us that it is far more complicated than their simple and appealing website would have you believe, but I still think they have hit on something really interesting in the Millennial workforce that is not going away.
The fact remains that many employees (Millennial and otherwise) are drawn to an opportunity to work abroad and are intrigued by opportunities of global exposure (also proven by steady increases in study abroad programs). We all know international experience is sought-after career exposure, and if you are able to offer or easily accommodate that, you are immediately at a unique competitive advantage in the race for talent.
If it is a part of your culture to facilitate global growth through an international employee footprint, you need to be sure you are executing a global mobility program efficiently and compliantly, balancing both the engagement of the employee and the bottom line of the business. We would love to strategize about this with you and show you a cost-effective, fast, and compliant method that could play a valuable role in your global mobility program – Global Employer of Record.