The recent Olympics in London showcased the best of the world's talent from a sporting perspective, so we thought it would be interesting to comment on how organisations are linking talent with global mobility.
This time of year tends to be very busy for in-house global mobility teams, with many companies keen to ensure any expatriates with families are settled in the new location ready for the next academic year. This year appears to be following the same trend for some of our clients, whereas others are noticing a decrease in international moves generally, mostly due to the current economic climate and various cost-cutting measures.
Professional Services firms have been linking talent to mobility effectively for years and it has enabled them to attract and retain some of the best graduates who want to work internationally during their career. Commerce & Industry clients are catching up and we have seen a number of global mobility roles in the past few years more closely aligned to talent and a focus on internal mobility too.
In these challenging economic times, clients are looking at cost effective ways to retain their top talent. Promoting internally and moving employees overseas not only reduces recruitment costs but enables a business to have effective succession plans in place too.
A successful global mobility strategy must tie in closely with the idea of career development as the purpose of an assignment is no longer the assignment itself: it's what comes next. Our Reward and Global Mobility team, previously worked in mobility himself at both RBS and PwC and he backs this view:
“It is no great secret that one of the biggest challenges for expats can be their repatriation to their home country. Life seemingly returns to ‘normal’ having had excellent opportunities or elevated positions whilst on their assignment so sometimes their level of engagement may drop after repatriation. Returning home can feel like a demotion and at this point many returning expats may begin to look for new jobs with other organisations to fulfil their career aspirations. Having a plan in place to ensure expatriates are given the right opportunities on their return is becoming more and more important and this is where the talent teams come in.”
Currently, we are finding that the global mobility recruitment market is not as buoyant as it was earlier in the year. This could be because the teams are currently very busy managing expatriate moves as outlined above, or simply because there is less of a demand for mobility professionals due to reduced expat volumes.