Industry News

Global Growth Requires Greater Workforce Mobility and Flexibility

Posted by Neil Shah on Sep 19, 2017 11:30:00 AM

Global PonyWang

The economy today is truly global, and businesses are constantly finding opportunities in new international markets. Global assignments are a common method for extending operations beyond borders, and businesses recognize the need to lay the groundwork for strong connections wherever their employees must go. New surveys by global health insurance company AXA Healthcare uncover common themes between employers and employee expectations who are worlds apart and highlight some keys for opportunities for operational success.

Businesses Want Growth

Nothing novel about that, but how they go about it makes a difference. Improving company performance is a common goal when scoping out new markets, and 51% of the survey respondents say international assignments have definitely helped achieve that. Similarly, 44% said these assignments improve employees' skill level, making them a stronger source for growth during and after working internationally. The important key to hitting the ground running anywhere is a strong foundation for remote workforce management and strong employee engagement, keeping everyone connected.

Employees Want Flexibility

HR specialists who responded to the survey put an emphasis on finding the right talent for any international assignment. While growth is a motivating factor for individuals, flexibility often comes first. Employees interested in global assignments often preferred short-term contracts while also wanting the reassurance their employer was looking out for them. Paid accommodation at the destination, international health insurance and income protection are high priorities, while also being able to stay connected to home and family. If the talent is right, employers seem willing to be flexible on pay and benefits to ensure commercial success afar, and they should be.

Being Internationally Invested

According to the survey, companies have already begun to approach global assignments with greater flexibility in pay and benefits with the expectation of advantageous growth as a company and for the employees involved. On average, this flexibility incurs an average additional cost of $50,267 per assigned employee, but that's a small price to pay for having the right people in the right remote place.

For more information on this interesting survey, you can dig further over on HR Technologist.

Topics: Global Workforce Management

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