Global mobility experts are excited about Kuala Lumpur, Malaysia’s capital, as an emerging market for relocating employees. Referred to as A City of Opportunity, it offers multiple socioeconomic, security and financial incentives for multinational companies. More than 70 Forbes Global 2000 companies have used Kuala Lumpur as their preferred hub to relocate, expand or enter the Asian market.emerging market apac global mobility
In June 2016, the United Kingdom (UK) voted to leave the European Union (EU). On March 29, 2017, the UK officially invoked article 50, a clause in the EU’s Lisbon Treaty that outlines the steps to be taken by a country seeking to leave the EU voluntarily, kicking off a two-year countdown to this departure, which is widely referred to as Brexit.Brexit
Today, a very special ceremony marks the opening of the 2018 Winter Games. Athletes from all over the globe will gather in South Korea to represent their countries and compete for gold.extended business travelers short-term assignments international short-term assignments immigration logistics culture duty of care tax implications
The President signed H.R. 1, also known as the Tax Cuts and Jobs Act, into law after the U.S. House of Representatives and Senate approved the final version of the bill in December 2017. As the global mobility community assesses the effects the tax reform will have on our industry, companies are also evaluating the impact on their organizations, budgets and strategies. Lexicon® Relocation has developed this reference tool to help guide our clients and partners along the way.tax reform
Transferee satisfaction: 42% of respondents felt that an employee survey provided the best measure of success of a mobility program.
It is no surprise that the traditional measurement of 'noise' surrounding an employee's relocation experience is still a barometer for determining the effectiveness of a mobility program. Global mobility and HR professionals often span multiple roles in conjunction with managing an RMC and their program. When customer satisfaction is low and noise is high, it adds to the workload of the HR team.
Technology and data analytics: 29% of surveyed visitors expressed they needed or were interested in learning more about technology tools to gather data on their programs.
The industry continues to look for the appropriate technology to collect, analyze and report data. HR professionals are eager to find data and predictive analytics tools that will enable them to define the most successful profile of an assignee, understand trends to enhance program objectives and leverage data for accurate forecasting.
ROI and retention rates: 17% of respondents indicated employee ROI and retention rates were a primary factor in determining success.
More and more, HR professionals are looking for the right formula on how to best identify key metrics needed to effectively measure ROI on employee assignments. While meeting business needs and hidden costs were identified as two metrics, the industry continues to narrow its focus on talent retention during and after assignments.
Achieve business objectives: 12% of those surveyed indicated that meeting corporate objectives was their primary focus for measurement.
Only a small percentage of those who responded expressed this as the primary method of measuring their program. However, almost all participants indicated the most successful programs were those where the global mobility function was acutely aligned to the growth and financial goals of the company.
There is no uncertainty in the fact that global mobility is on the rise. Effectively defining the right metrics for your organization is key to the success of any mobility program. The fact of the matter is, there is no one-size fits all formula. It takes the appropriate combination of the above measurements and aligning them with your culture, to prove ROI and meet business objectives.
If you’re interested in learning more about how Lexicon Relocation works in tandem with mobility professionals to assist in developing the best formula to measure your programs, contact us today.
Thank you to all those who participated and we look forward to seeing you next year in Seattle. global mobility measuring mobility program ROI of mobility programs retention rates expat retention Worldwide ERC worldwide erc conference erc gws
23 Trends Global Mobility Managers Need to Know
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On May 1, 2017, the U.S. Department of State issued a Europe Travel Alert for “U.S. citizens to the continued threat of terrorist attacks throughout Europe.” This is due to recent attacks in the United Kingdom, Sweden, France, and Russia undertaken by the Islamic State (ISIS), Al-Qaeda and their affiliates.employee relocation relocating employees
Upcoming changes to the H-1B visa program may pose new challenges to global mobility across industry lines. The tech industry is expected to be most impacted due to the significant portion of its talent pool coming from abroad, with India accounting for approximately 70% of all H-1B visa workers.H1B Visa compliance and global mobility global mobility