Professional services firms are increasingly moving young professionals to regularly develop capabilities. Learn how MOVE Guides can help support your analysts, associates and new hires.
It used to be the case that international opportunities were only available to senior managers who had climbed the corporate ladder and earned the chance to travel. Nowadays though, that model has been turned on its head, with more and more young professionals being offered the opportunity to gain international experience, whether as part of a global graduate program, during their analyst years or later on as established associates.
Ongoing challenges in the job market and wider economic climate have meant that new graduates are facing a tougher time than ever finding work, and are looking further afield to kickstart their careers. Being offered the chance to develop cross-cultural capabilities is a huge draw in an increasingly globalised world, with young professionals appreciating that in order to rise through the ranks of an international business, the ability to broaden their skill sets is a significant benefit.
With more and more international assignments being offered to employees in the early stages of their careers, traditional expatriate packages are no longer considered the norm. Young professionals no longer expect the lavish packages of days gone by, instead valuing the opportunity and experience it offers to develop their careers. Having grown up with the internet, Gen Y employees are used to accessing information on demand, booking services instantly and taking control of their experience.
Facing increased cost pressures, companies are fast recognising these preferences for autonomy, transparency and choice, and crafting policies to suit their young professionals. One way of approaching things is by using tiered policies to ensure that appropriate levels of support are offered to each type of employee, including managed lump sums in order to cater to these preferences.
Where a more senior employee may receive a full relocation service, including destination services and school fees, managed lump sum policies allow companies to cap the costs associated with a relocation for other employee levels, such a new hires, without leaving the employee left to fend for themselves and risk an unsuccessful transfer. MOVE Guides helps companies to reduce the costs and administration associated with employee moves, by leveraging best in class technology to deliver an enhanced employee experience with full move support from our MOVE Advocates.