- New research from AXA reveals 98% of big businesses surveyed say a globally mobile workforce is important, with a third saying it is critical to their success
- But staff working abroad want increasing flexibility with three-quarters of employers saying people want to commute internationally and continue living at home
- Those working internationally reap the rewards with many workers boosting earnings and career prospects
Despite the unstable economic climate, unexpected political change and the impact of technology on societies the world's biggest companies still view a flexible and globally-mobile workforce as key when it comes to building a successful business, according to new research from AXA.
The study revealed that 98% of employers see a globally mobile workforce as important to achieving their objectives with a third believing it to be critical. More than half of the businesses questioned said sending staff on global assignments has improved the performance of their international operations and 44% said it improved employees' skill level.
However, the research revealed that while employers see international working as key, their staff do not necessarily want to move permanently to another country. Three-quarters of employers surveyed said there is a trend for staff to accept jobs based abroad while they continue to live at home: They become international commuters.
More than a third of firms said staff increasingly want to work abroad on short-term contracts and commute from their home country, with 27% saying that staff do not want to relocate permanently. The rewards for working internationally do, however, appear to make the commute or relocation worth the effort. The majority of staff working on international assignments said they took global placements to gain higher pay and benefits with 47% saying they took roles to gain accelerated career development and improve their skills.
Tom Wilkinson, CEO of AXA's global healthcare team stated, "Having an international workforce is critical for businesses that want to capitalise on the huge opportunities available in our global economy.” He continued, “While we read much about economic and political uncertainty in some countries, the reality is that businesses that take a global outlook are able to flex their operations to take advantage of growth markets wherever they may be.”
While the Internet and improved communications technology has made it easier for businesses to work globally, the key differentiator remains the talent of the people that organisations employ. Taking a flexible approach to pay and benefits that allows staff to remain connected to family and home while also accelerating their careers and creating commercial value for their employers is vital if international assignments are to succeed.
The need to get the right people for international assignments may partly explain why big businesses are willing to be more flexible with staff around how they structure international assignments and pay and benefits packages but the survey reveals that these postings come at a price for employers. On average, the firms surveyed said it cost them USD 50,267 over and above an employee's base salary for each staff member they have working abroad, with three-fifths of employers saying pressure to manage international assignment costs has increased in the past five years.
Paul Arkwright
Publisher
