Over a third of the expat workforce (37%) are more likely to relocate to their home country, according to a new report based on the Cigna 360 Well-Being survey which spoke to over 18,000 people from around the world. However, despite the homeward drift from those who live overseas, COVID-19 has done little to dampen the aspirational nature of the expat lifestyle. In fact, the appetite to experience life overseas has increased with nearly a quarter (23%) of people currently based in their home country expressing a desire to relocate.
35% of local employees have cited better job opportunities and career paths as their top reason for moving overseas. Other key motivators include the desire to broaden cultural experiences (35%) as well as to learn new skills (27%). The survey also found that while expats have reported higher well-being scores than local employees, HR and business leaders need to prioritize adequate well-being support systems for the expat workforce amid pandemic fatigue and uncertainty about the future.
"Whether it is helping inexperienced expat professionals settle into a new country or providing longer tenure expats with ongoing support to manage stress, supporting their whole health should be a key priority as we usher in different ways of living and working.”
Expat anxieties grow
Pandemic-induced issues such as job uncertainty have stoked stress and financial worries amongst expats. While the expat workforce has demonstrated higher well-being scores than locals overall, 89% say they are suffering from stress as compared to 82% for locals. In particular, expat professionals have expressed their worries around family finances (30%), lack of job opportunities (24%) and education (16%). Almost a third (30%) of all expats thinking about relocating home cite future finances as one of their top concerns.
Despite this, close to half (45%) of expats have reported high resilience compared to 37% of local employees living in their home countries. Jason Sadler, President, Cigna International said, “The global expat workforce has been integral in helping businesses around the world unlock new opportunities. As these individuals continue to face challenges like travel restrictions and financial worries, it is critical that organisations provide the necessary support for expat employees as they adjust to their new work and home life. Whether it is helping inexperienced expat professionals settle into a new country or providing longer tenure expats with ongoing support to manage stress, supporting their whole health should be a key priority as we usher in different ways of living and working.”
HR leaders must address gaps in expat support
According to the report, the majority of expat workers have expressed interest in their companies to play a bigger role in providing support structures that help them manage their overall stress, but many are not meeting these expectations. There is an opportunity for businesses and HR leaders to bridge the gaps in expat support infrastructure. For example, more than half (57%) of expats have indicated a preference for holistic support and resources to help manage work-life balance but these are only in place for 30% of expats currently. 56% are also keen for more mental health support but this is only available to 30% at present.
Michelle Leung, Human Resources Officer, Cigna International said, “COVID-19 has profound implications for how HR and business leaders should look at talent management strategies to attract and retain a globally representative workforce. As expat professionals increasingly look to employers to help adjust to their new work and home life, businesses that will remain competitive in the long-term are the ones that go above and beyond to provide expat talent with support systems that help manage their overall stress and concerns.”
Paul Arkwright
Publisher
