The global workforce is expanding, crossing international borders. With a digital, hybrid, or remote workforce, employees can (and want to) work from anywhere.
But what does this mean for companies with employees relocating to different parts of the world?
Organizations need to develop a global mobility strategy. It cannot be an afterthought or a temporary solution. The people you need to want it. It takes them to keep your business on an upward trajectory.
This can be complicated for business leaders to strategize and find global mobility solutions.
We’ll cover what global liquidity is, why it’s important and challenging, and how your company can build effective liquidity.
What is global mobility?
The world seems to be getting smaller and smaller as we know it. We are more connected than ever, which means we are feeling the impact of our global workforce. First, let’s understand what global liquidity means.
Global mobility may have traditionally focused on senior leadership and high-potential talent in rotational programs, but the scope has changed. Over the past few years, new trends have been emerging in global mobility programmes and the world of work. With the massive disruption to the way the world works, it’s important to have an effective global mobility program.
3 reasons why global liquidity matters
Global mobility is evolving in tandem with human capital trends. Looking at them side by side, we can draw some conclusions about the importance of global mobility in future work.
Among the interesting insights in the report:
- 51% of organizations cite increased engagement, flexibility, and well-being as important benefits of remote work.
- 72% of executives cite “employee ability to adapt, retrain, and take on new roles” as the most or second most important factor in responding to future disruption.
- 41% of executives say upskilling, reskilling, and mobility are among the most important actions they take to transform their jobs.
So what does this have to do with the importance of global liquidity? Here are three reasons why global mobility is important for any expanding organization.
Who facilitates global mobility?
By now, we know that global liquidity can be complicated. Consider these experts and their roles as you assemble your coveted team to build an effective global mobility program.
Your compliance and legal team – Your organisation needs legal advice on everything from employment law to compliance. Different rules might apply to employees becoming officially multi-year expatriates rather than employees chasing their dreams of working as digital nomads everywhere.
Your human resources team – The bulk of your global mobility team will likely be made up of HR professionals. Benefits, total rewards, and benefits are three key areas where HR will play an important role.
But you may also need help from an HR business partner or even talent acquisition to provide input. Work with your human resources executive to identify and define the correct roles.
Your employee experience specialist Change is disruptive, so it’s no surprise that global mobility can disrupt the employee experience. When designing a global mobility strategy, keep in mind the role of employee experience. You’ll need people who are passionate and knowledgeable about what employees want and need.
Every organization is different, so depending on the structure of your company, it might look different to you. In essence, global mobility is inherently cross-functional. Keep key stakeholders in close contact with the project. Your stakeholders should understand the goals, expectations, and purpose of the project.
It is safe to say that global mobility is much greater than the relocation process. Whether you’re looking to improve your relocation tool process or develop a strategy from scratch, most organizations can benefit from some support so you can choose Noah Mobility for relocation companies and individuals.
Consider how Better Up’s personalized growth and development can make people transformation part of your mobile strategy. The future of mobility is in your hands.