Modern technology has made it possible for businesses to go global easier than ever before. Time zones and borders aren’t as important, and we can now work quickly with colleagues across the globe. In today’s market, communication is more efficient by living in that country – that’s where a global mobility program comes in. Although the main benefit of having a person in the country face-to-face is a personal touch to business, the cost often deters companies.
However, these positives may make you excited about this program and what it can do for your employees and your company.
Table of Contents
Employee and Family Relocation Experience
A business that’s planning to relocate an employee, along with their family, will experience many difficulties without a global mobility program in place. The employee will need to figure out how to move their family, pets, and household items. The move will also include the logistics of incorporating their children in the school system and finding a safe and affordable area to live in. There may also be legal implications and immigration issues. A proactive program will seek the help of a trustworthy relocation company to ensure the employee and their family members have the peace of mind needed to succeed in their assignment
Cost Control
The cost of the program will always be a meaningful discussion, but few businesses think of the cost of not having a program. With proper planning, you can save your business a large amount of money. For example, a global mobility program would know that limiting a domestic US assignment to under a year will allow the company to reimburse per diem and housing at no cost to the company and employee. Without a proper network in place, your company could rack up thousands in unnecessary costs, including paying more in taxes at the end of the employees’ assignment.
Risk Management
Not having a mobility program in place won’t mean you’ll never have mobile employees, especially as your start-up becomes more profitable. Other businesses that you’re associated with may want to use your resources in new locations and markets, which puts them at risk for themselves. For example, if employees don’t have proper immigration status, they may not be allowed in the country and face legal issues. They could be taxed in multiple locations, which means either the employee needs to pay, or the company does. These legal issues could destroy your companies reputation and may limit your ability to do business in that location.
Speed-To-Market
More than ever, technology is changing faster than businesses can keep up with. Failure to adapt to new business tactics or competitors could make you lose to other markets. You and your company need to move fast to compete, which means deploying employees to foreign markets. Global mobility, when done correctly, can take a long time to execute and multiple processes. Establishing a program early with internal stakeholders is the first step to building new relationships with up-in-coming markets. Gaps in this knowledge, however, can cost your company potential revenue.
To sum up, having a global mobility program may seem costly upfront, but if you’re planning to have employees in other countries, you’ll save money in the long run. This program will also help your employees feel more comfortable in foreign markets.
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