Today, companies operate between multiple locations and attract top talent from around the world. As people and skills transfer between cities and countries, businesses are changing the way they attract and retain the best and the brightest talent from around the world. Recently, MOVE Guides' CEO and founder, Brynne Herbert wrote a piece for Talent Management that addresses how companies can adapt to growing levels of global talent mobility (predicted to grow by 50% by 2020, PwC) and benefit from this major shift. Below, we have highlighted themes from her article on the evolving future of global mobility and how companies can adopt new tools to streamline business processes and improve employee experiences.
Evolving Definition of Talent Mobility
Long gone are the days of the traditional expatriate. Today, talent mobility involves a wide range of mobile employees moving for various purposes. This could mean a new hire moving to Hong Kong for their first job out of university, an employee transferring countries or an experienced manager completing an expatriate assignment across the world. The modern employee also craves this type of mobility and views it as an opportunity to advance their career, learn new skills and widen their networks.
Getting the Right Talent in the Right Place
Today, approximately 36% of companies report difficulties in finding talent to fill vacant roles (ManPowerGroup). In order to address this skill gap, companies can look towards a strong talent mobility strategy that will ensure they get the right talent into the right positions by leveraging internal external talent pools outside their home market.
Empowering the next generation of future leaders
Millennials are taking the workplace by storm and 71% expect and want to do an overseas assignment during their career (PwC). It is also now widely recognized that future leaders need to build cross-border skills, cultural awareness and a strong networks between countries, cities and offices. A strong global mobility strategy can provide this new demographic with the global opportunities they seek and help with the company's engagement strategy with new career development opportunities in new locations.
Streamlining business processes
89% of organisations plan to increase the number of internationally mobile workers in the coming two years but only 8% believe they have a sophisticated and innovative global mobility program. Companies face many pain points when it comes to mobility, including complex and time-consuming processes, cost pressures, high compliance burdens when operating across many countries, and challenges to delivering a great employee experience. In order to effectively address these challenges, companies must transition to a modern management system that streamlines all processes and brings all mobility stakeholders together.
Moving to the cloud
Today, the average HR system is 6.5 to seven years old (Deloitte) and nearly 60% of organizations are planning to implement new HR or talent management systems (Mercer). Cloud technology is revolutionizing the HR industry and is the ultimate solution for companies that want to globally connect their workforce, deal with the ever increasing complexities of global mobility management and bring all stakeholders into one central hub. Just like Salesforce and Workday created a market defining cloud application, the future of global mobility is also in the cloud with intuitive technology that empowers employees and HR departments with resources available 24/7 on the web, mobile and tablet.