The Future of Global Relocation: Looking Further Than You Can See
Posted by: Cindy Madden, Director, Consulting Solutions
“It is always wise to look ahead, but difficult to look further than you can see.” Hard to argue against the words of Winston Churchill. Yet, in this world’s fast-paced environment, staying ahead of the curve and successfully predicting future trends and challenges―many of which may be very hard to see coming―is key to the success of a business.
Relocation is no different, and recent research allows us to make some informed predictions about what the future will hold for companies moving and attracting talent globally. Read our latest Mobility Insights: The Future of Global Mobility, which outlines what we consider to be some of the key future trends in global mobility and talent management.
What Lies Ahead for Global Mobility?
Cartus’ recent Policy & Practices survey highlighted the emergence of duty of care as a core concept of international employee mobility, which is likely to continue to increase in importance as companies grow internationally. The survey also highlighted that expansion into emerging markets is the third most critical driver of global relocation activity, with respondents naming 72 countries as ‘new’ destinations.
If we frame these findings in the context of forecasted changes in the composition of the global workforce, we can begin to predict how the roles of mobility and talent management need to evolve. For example, research suggests that by 2020, Millennials will form 50% of the global workforce, yet, while valuing international experience, very few are actually willing to go on assignment to emerging markets. Bridging this gap between supply and demand will require ever more flexible and personalised approaches to mobility programmes.
Changes in the global workforce and the very nature of work itself is predicted in a recent World Economic Forum report, The Future of Jobs: Employment, Skills and Workforce Strategy for the Fourth Industrial Revolution, which informs us on future disconnects between desired and available skills. So, we can start to think about how mobility and talent management can play a key role in developing a future strategy, where existing workforces are trained and re-trained continuously through their lifecycle, and key talent is sourced globally.
These are just some of the future trends and dynamics global relocation professionals should start to consider to ensure they are prepared for the challenges that lie ahead.
Read our latest Mobility Insights: The Future of Global Mobility, for more information on key future trends in global mobility and talent management. Be sure to also visit our newly redesigned Resource Hub for the latest information on global mobility trends and best practices.