Is Global Talent Mobility Valuable Today?
This Article Is Authored By MSI Global Talent Solutions Global Talent Mobility remains a strong component of a company’s Human Capital Strategy, highly valued by both the company and the employees it attracts and retains.
Global Talent Mobility has remained a strong and robust value segment of a company’s global human capital strategy, particularly over the past years. It has grown into a thriving ecosystem with the ability to meet major shifts in a company’s globalization efforts and HR’s fast-paced critical turns to support business and employee needs. Companies are juggling factors such as:
country borders remaining tight and regulations constantly changing
the fluidity of where is work performed (return to office, remote work from home, from anywhere, or hybrid)
the current strength of an ‘employee market’
increasingly complex global risk and compliance requirements
a sharp focus on diversity and inclusion
compensation vs. cost-of-living (inflation)
Global Talent Mobility remains a key integrator to manage the juxtaposition of these factors that impact business results. Layered on to these factors, companies are deciding what defines their ‘workforce’ with the inclusion of:
borrowed talent (contingent/gig workers)
joint venture employees
employer of record services
talent mobility vs. job mobility
All broaden the landscape of when, where, and how to source global talent.
Global Talent Mobility must flex to the current business upheaval, human capital evolution, and workforce demand. There has never been a better time.
Six Areas of Opportunity
1. Upskill Global Talent Mobility Teams to Master the ‘New Mobility’
Mobility teams must upskill to manage the broader range of ‘mobility’ to rapidly react and effectively facilitate responses to changing company, HR, and employee needs. This requires balanced alignment between Global Talent Mobility, Talent, Tax, Data & Analytics, Finance, and Technology to ensure the ‘new mobility correlates to business and HR priorities.
2. Using Global Talent Mobility to Manage Talent Outcomes
Global Talent Mobility can attract and retain talent on a global basis. The ability to offer international careers remains a key attraction for workers looking to build global business acumen and increase cultural adaptability. Searching for the right talent at the right time means using Global Talent Mobility for the right reasons.
Creating a link between Global Talent Mobility and Talent Management remains a goal for many companies. The discussion is not new and continues because it is not easy to do, and it is hard to measure return on investment over time. That said, companies are getting closer to mapping the link through advanced technology by developing performance and career tracking frameworks. Data analytics enable better tracking and measurement of performance, learning, development, cultural adaptability, and career movement, which becomes more evident and relevant.
The framework should have the ability to look at:
destination location roles and what value those roles bring
who owns the talent (home or host location)?
tracking what learning the talent achieved and its effect over time
career development obtained and its effect over time
performance management and talent indices
The goal is a more meaningful return on investment tracked over time (once the assignment ends).
3. Use Diversity and Inclusion in Global Talent Mobility Decisions
Looking at the global landscape, companies have better options today. They can see local talents' strengths and weaknesses and choose how they wish to support them. They can re-skill, upskill, or supplement the workforce to support immediate business needs by using borrowed talent, or move a job vs. relocating a worker. Global Talent Mobility maintains the diversification of talent they manage. The better able to have a broader talent pool, the greater the opportunity for diversity and inclusion.
With so many opportunities in the global workforce, Global Talent Mobility supports critical human capital decisions by implementing the right platform from which to manage the right talent based on the business need:
Borrowed talent: Contractor, Contingent/Gig workers can work from anywhere
Employer of record services
Job vs. talent mobility
Joint venture employees
4. Have Global Talent Mobility a part of your Business Strategy
Typically, Global Talent Mobility reports to Talent, Compensation, or HR. But having Global Talent Mobility working directly with the business places it in the optimal position for greater business outcomes and realization of ROI. Not being close enough means that direct conversation is often not possible, leaving a vague interpretation of what the business is asking for by an ‘HR middle person.’ It is difficult to assess what the business is asking for vs. what the business needs. If Global Talent Mobility is at the forefront with the business, fewer mistakes happen, the right questions are asked (and answered) in far less time, and the word ‘no’ (for compliance reasons) is easier to understand. Global Mobility Teams do not create the barriers to doing global business, they manage the barriers in support of the business. Working in tandem with the business, there is a better guarantee that the business will move forward far more expeditiously.
As a result, Global Talent Mobility is no longer an operational team, but a business team member requiring transparent budget allocation. The more Global Talent Mobility knows upfront, the better the mobility budget to actual financials will be.
5. Listen to Your Workforce
With the sweeping changes to the workforce today, workers are more vocal about their needs. A strong percentage of workers want and need to live globally (the majority are millennials and Gen Z). How they choose to do it is by changing mobility policies. Listening to their needs ensures your Global Talent Mobility Policies align. As inflation rises, the topic of compensation and cost of living so too rises. While this is not a specific conversation for Global Talent Mobility, it does become one when you are moving a traditional expatriate overseas (this occurs more than the market realizes), hiring a foreign national, or permanently transferring a worker from one country to another. How workers move is one thing (they find ways to move that may not be traditional or company approved), but how they are paid matters to all. Partnering with Compensation/Total Rewards and your compensation data provider is a critical component in mobilizing your talent. Most workers are willing to move to a new country for quality work-life balance, job security, and flexible working hours in their new host country. Work from anywhere is a driving change, allowing the workforce to choose where they live. Companies must be willing to accommodate their needs to find and secure the best global talent.
6. Make Advanced Technology and Data Analytics Part of Your Solution
As new forms of talent mobility continue to transform the global stage, companies must invest in advanced technology and data analytics to ensure effective management, compliance, and governance. Using comprehensive data analytics allows a company to link mobility spending to business and financial outcomes, know where to cut waste, and where to increase investment to deliver the best business results. The goal is to design mobility frameworks to measure mobility ROI so Global Talent Mobility is resilient and becomes leading edge.
For more information, please contact MSI – at email@example.com