The world has become a very small place thanks to technological advancements that allow us to travel, communicate and conduct business on a global scale. This has given rise to a globalised workforce which demands life-changing professional experiences that allow them to explore different cultures, meet new people and generally broaden their horizons.
If organisations are serious about talent retention, they need to take global mobility seriously. And it appears that – overall – they are doing so: according to a 2018 survey by Allianz Care, 70% of organisations believe that “offering expat assignments increases staff loyalty”. But what more can they do to use global mobility as a tool for talent retention?
The mobile generation
There’s a common misconception that millennials – people born between the early 80s late 90s – are sensitive souls who will be living with their parents well into their 20s. When in fact, this is the first truly mobile generation, for whom digital communication technology is the norm and jumping on a flight is as simple as hopping on a bus.
So, it’s no surprise that this mobile, flexible and tech-savvy section of the workforce is determined to seek out professional opportunities overseas and are proactive in doing so. For example, between July 2016 and July 2017, MoveHub.com saw a 60% increase in the number of millennials relocating abroad. Unless organisations factors millennials modern lifestyle expectations into their talent management, they will struggle to retain them – in fact, they might not be able to recruit them in the first place.
Talent management strategy
Talent management strategies aim to maximise the performance of an organisation’s workforce by engaging employees and satisfying their needs. It’s not simply a case of hiring the right people and training them; you need to retain them as well. Consequently, there’s a correlation between effective talent management and achieving organisational goals.
Any business that operates globally should be aware that international employee mobility forms a key element of a talent management strategy. Failure to satisfy the demand for global assignments that have a lasting effect on professional and personal lives will leave organisations vulnerable to losing their most valuable asset: people. People they’ve invested a considerable amount of time and money in to help achieve their goals.
Guaranteeing successful relocations
A bad relocation could be even more damaging to employee morale than not providing global mobility as an option in the first place. That’s why organisations often seek the services of a destination service provider like Simply London – the leading relocation agency for London. They can manage all aspects of a successful relocation on their assignee’s behalf – from finding somewhere to live and selecting a school for the kids to setting up utilities and registrations. This frees up time to settle into their new home and achieve the work-life balance they crave; leaving them fully motivated to focus on their new role.