The way that specialised talent chooses their next employer is changing and global mobility is at the heart of the debate. That’s according to a new report*.
The report, ‘How to design mobility policies for a global workforce’, reveals that more and more specialised talent is flocking to organisations that offer flexibility to travel for work. According to the report, 54% of employees in a survey conducted by EY said that if they aren’t offered the flexibility they want in a job, they’re likely to quit. While according to research by Graebel Companies, 84% of workers said they would be willing to relocate for work, and 46% were willing to relocate internationally.
To support the growing desire for international work, countries are opening their borders to the 35 million digital nomads that are working remotely around the globe. European countries are actively embracing the digital nomad global trend, positioning themselves as highly desirable work destinations. In Germany and Portugal, specialised digital nomad visas allow people to reside and legally work within their borders. If businesses embrace flexible remote work policies that enable employees to work from any location or relocate for temporary or longer periods of time, this will help them attract and retain talent that may seek employment elsewhere.
Many companies are already taking advantage of these policy changes to reap the benefits of how attainable talent across borders is becoming. Having increased search parameters when filling vacancies can help close the talent gap, and ultimately, global mobility enables organisations to tap into a vast pool of talent from around the world, attracting unique skills, expertise and knowledge into their businesses. In fact, 35% of business leaders believe that a globally mobile workforce is key to meeting strategic objectives.
Businesses of any size can benefit from allowing employees to work abroad, for both short and long term international placements. However, a study by Allied revealed that small to midsize companies most commonly relocate their employees compared to larger businesses, with 64% of those employees receiving compensation packages for their work-related moves. By offering structured international work assignments, organisations demonstrate their commitment to employee growth and development, while creating a pipeline of future leaders that can navigate international challenges. Recognising this, 90% of employers say they will either sustain or increase their company’s mobility scope over the next three years – highlighting the trajectory of global mobility.
There is a risk that businesses that don’t implement global mobility policies will fall behind their competitors, and impact employee retention. Industries such as healthcare, construction, hospitality and tech are already experiencing talent gaps. According to Finances Online, 67% of companies believe that skilled labour shortages are the top construction industry challenge. This is only set to grow, and so failure to evolve now could be detrimental. For example, the construction industry in North America is projected to require almost 600,000 more employees to meet demands, which could be filled with international workers – and this can only be achieved with agile mobility practices.
Hanna Asmussen, co-founder and CEO at Localyze said: “There is significant value for businesses that embrace international talent pools and offer relocation or international placement opportunities for existing employees. Innovating workplace policies by harnessing flexibility is key for the future of work.
“However before businesses rush to offer their employees the opportunity to work internationally, no matter what industry they operate within, they must consider the details. Otherwise, they risk losing more time and resources in the process, or lacking the knowledge they need to navigate complex and varied regulations across destinations.
“Our report aims to create a strong foundation for businesses that haven’t already implemented robust global mobility policies to begin thinking about how they can create and roll out scalable programs for their entire workforce.”
Localyze report here.
