This week the management team at Gerson Relocation have come across an interesting article on developments in the global mobility sector, which we wanted to share with our relocation blog readers.
The article, which can be read in full here, examines a series of rapid and relevant changes in the global mobility and corporate relocations industry which could impact our clients.
According to the article, there is a growing importance in hiring and retaining high performance employees. There is huge importance being placed on talent retention.
The global mobility landscape was very different a decade ago, and if an assignee’s family wasn’t happy with a global mobility assignment, it was a case of grin and bear it for the duration of the contract.
This is not the case these days – and HR departments are much sharper when it comes to ensuring that an assignee is retained. HR is being more flexible than ever before.
Why is the global mobility sector changing so much in just a few years? It comes down to cost. When one considers that it takes 4-5 years to train key talent for a specific role, which might be a unique role created for them or a particular project, then it’s clear why talent retention is a hot topic. Some positions can’t just be advertised on the open job market.
If an assignee leaves, the impact on a business can be huge – in terms of replacing the employee, as well as retraining another new assignee. Some costs are intangible, too.
Another element worth considering is the amount of company and client experience carried by senior talent within an organisation – this unique mix of understanding of a company and how to operate in an international mobility setting provides an invaluable resource.
If you’d like to find out more about Gerson Relocation and our global mobility services, please feel free to contact us here.