Employees benefit from career advancements and employers can fill skill gaps and expand into new markets.
A new study shows relocating employees abroad can be beneficial to both business and employees. Conducted by TJinsite, the survey results showed 70 percent of organisations think relocation is especially important for talent acquisition and retention. This percentage was significantly higher in larger companies, those with 500+ employees. With a larger workforce staff mobility is higher and the cost of relocation can more easily be absorbed.
A lack of talent and business expansion were named as the main reasons for relocation. The results also revealed relocation is the first choice for employers and is preferable over hiring new staff in the case of business expansion. Over half of companies stated relocation solved the problem of skills shortages in particular areas.
In terms of employee benefits, many companies believe relocation is beneficial to career progression. Many use it as platform from which to introduce a wider career development programme for employees.
In the Global Mobility Survey 2012, commissioned by the Sante Fe Group, one of the top reasons for a growth in international assignments was support of individual employee talents (40%). The top reason for assignments over the next year was expansion into existing markets (52%), expansion into new markets was the second most popular reason (49%). Sending employees abroad to fill local skills shortages was the third most popular reason (44%).
Industry experts know relocation is challenging for both employee and organisation. For an employee, especially one with a family, relocation presents challenges in the changing work environment, spousal worries and living environment. Corporate challenges include providing enough support, and filling the vacated position. If well planned, relocation both domestically and internationally can advance an employee’s career as well as fill skill shortages in the local market and aid expansion.