Nearly all of the global mobility people we speak to at MOVE Guides mention an increase in permanent moves among staff. Many of these self-initiated relocations come with limited relocation support, host country payrolls, and local packages. In most instances, we see the use of permanent transfer policy with a cash lump sum to help with relocation expenses. Frequently, we also see employees take pay cuts for moves abroad.
In today’s global society, most young professionals expect to live and work abroad. They seek career development, follow spouses, or just want a cross border cultural experience, often even more than they want monetary gain. They have grown up with mass connectivity through the internet and social networks, widespread travel, and globalization, making them more comfortable with moving abroad than generations before them. They also recognize that, in a global economy and at multinational organizations, international experience, networks and capabilities are a critical part of career promotion. As mentioned last year by Lorna Davis, Global Biscuits Category Head at Kraft, at the Financial Times Woman at the Top Conference, “Young professionals need a global zig-zag to make it to the top of multinational organizations.”
“Why do you want to stop someone who wants to be mobile? We just reduce their package,” said Karen Oppermann-Calvert, International Tax and Social Security Manager, EADS, at a recent conference.
The challenge for global mobility professionals will be to support and manage this growing demographic with relocation services that don't increase costs or create a loss in productivity. New global relocation options like MOVE Guides offer a solution to support this demographic without a corresponding increase in cost or administration.