In today’s global workforce, companies must handle the complexities surrounding talent mobility. Global mobility, the process of moving a business and its employees to a new country, is a solution to this problem. However, adopting a global mobility effort isn’t always easy.
Challenge Related to Global Mobility
Finding the right global mobility solution can only come from knowing the challenges you’ll face. Here are 5 things companies need to navigate before they can capitalize on the benefits.
Global Mobility is Expensive
Creating an international business is expensive, but moving your employees out can be especially pricey. To compensate for these costs, employers may offer subpar relocation packages. However, lack of support is the major reason why assignments fail or become costly.
Global Mobility Needs Experts
Your current HR staff may not be able to handle your relocation strategy, so you shouldn’t expect them to. A poorly thought-out policy will spell disaster for your company. Before creating your strategy, hire a relocation team or other stakeholders that can reach your mobility goals.
Global Mobility Takes Time
Businesses hold off on international expansion because of how long it takes. They may feel it’s easier not to implement a global mobility strategy, especially if their company has a loyal national audience. But, you may force yourself out of the market if you don’t adapt.
Global Mobility Requires Communication
Some businesses won’t speak to their staff about their plans for global expansion or their timelines for the project, but that’s a huge mistake. If everyone is on the same page, they’ll be able to adopt your strategy in a way that’s comfortable for your brand, business, and employees.
Global Mobility Should be Flexible
While it’s true that you can’t create a flimsy global mobility policy, it also can’t be too rigid. Stringent policies may not prove beneficial to your employee’s circumstances, so you need to focus on the value they provide for your business, not when or where they complete their work.
The Benefits of Global Mobility
Once you create a rock-solid global mobility strategy, you’ll be able to cash in on the benefits. Here are 5 benefits that make the process of adopting global mobility more than worth it.
Global Mobility Give you Access to More Talent
When you move your business overseas, you gain access to a wide variety of talent in that new country. You’ll be able to hire people you initially couldn’t due to tax compliance issues or a culture/language barrier. If you allow your employees to work remotely, even better.
Global Mobility Accesses a Bigger Market
Whether you sell your products locally or internationally, marketing to a new country can be a challenge due to cultural nuances. But if you’re able to hire employees who grew up in the culture, they’ll have an easier time adapting your advertising copy to this new market.
Global Mobility Attracts More Quality Hires
Quality employees work for quality employers, and quality employers offer their employees benefits, like remote work, competitive relocation packages, and high wages. By adopting a global mobility strategy, you’ll instantly see offers roll in from candidates all over the globe.
Global Mobility Increases Your ROI
Even though global mobility and strategic talent management are aligned, the function remains a low priority for companies. Although upfront costs are high, your return on investment can be even higher with the right policy, which may encourage you to expand your business further.
Global Mobility Keeps You Competitive
Your competition is adopting a global mobility strategy, and because they’ve done so early, they don’t have to fight for space in the international world. Eventually, the rest of the globe will join them. If you start your global mobility strategy now, you’ll be able to stay competitive.
