14 Sep Global Mobility Pros: Relocating Employees May Help You Retain Them
In today’s evolving work landscape, the importance of employee retention and fostering success cannot be overstated. While some strategies come into play, one particularly powerful approach gaining prominence is talent mobility — its pivotal role in attracting, retaining, and developing top talent.
Talent mobility is all about providing assignees with opportunities for growth and advancement. It involves diversifying their experiences, sharpening their skills, and enriching their perspectives. An effective talent mobility program can significantly contribute to an employee’s journey towards long-term success.
One of the key aspects of talent mobility is its contribution to career development goals. Such programs give assignees the chance to build their careers by offering diverse assignments, cross-functional projects, and job rotations.
According to a recent State of Mobility report, the outcomes experienced personally or professionally due to relocation are substantial. This includes an increase in salary for 48% of the relocating assignees, the acquisition of new knowledge and skills for 43%, and expanded professional connections for 42%.
Relocation strengthens an employee’s knowledge base, broadens their business perspective, and develops their functional or strategic expertise. This ultimately fosters personal growth and advancement. The impact is so profound that 84% of mobile employees in the State of Mobility report agreed that they would not have advanced in their careers as quickly if they hadn’t relocated for a corporate assignment.
Talent mobility isn’t just about moving people from one place to another; it’s about propelling their careers forward, enabling them to reach new heights that may not have been possible without these experiences.
By providing assignees with the opportunity to explore challenging roles, organizations not only bolster their employee retention but also ensure that their workforce is constantly growing and adapting to the changing demands of the modern work environment.
Beyond career development, talent mobility plays a crucial role in succession planning. Preparing employees to take on leadership roles is vital for the continuity and growth of any company. Talent mobility programs provide employees with the necessary skills, capabilities, and personal support to become potential successors for key jobs.
For example, the State of Mobility report highlights that 74% of employees believed that those who relocate are more likely to be put on a leadership track. By offering opportunities to gain relevant skills and training through relocation, organizations can cultivate employee loyalty that leads to long-term employee retention and the maintenance of business continuity. This not only ensures a steady pipeline of leaders within the organization but also fosters a sense of ownership and dedication among employees, contributing to a thriving corporate culture.
Importance of talent mobility
When strategically developed and efficiently executed, talent mobility can serve as an outstanding tool for HR teams to attract, retain, and harness top talent. It can align with workforce priorities, nurture careers, promote diversity in the workplace, and support succession planning. Talent mobility becomes a cornerstone of organizational success.
Today, companies are operating in a rapidly changing business environment, propelled by technological advancements and global competition. In this landscape, the need for skilled and adaptable talent is paramount. Talent mobility programs, when appropriately tailored to a company’s specific needs and goals, can be a game-changer.
To harness the strategic importance of talent mobility, organizations must create a well-structured framework for its implementation.
Here are some key steps:
1. Identify the goals: Before implementing a talent mobility program, organizations should clearly define their objectives. These may include improving employee retention, fostering leadership development, enhancing diversity, or achieving specific business outcomes.
2. Assess the current workforce: Understanding the skills, experiences, and aspirations of the existing workforce is crucial. This assessment helps identify the talent that can benefit most from mobility opportunities, even on a global scale.
3. Develop customized plans: Companies should tailor talent mobility plans to individual employees, considering their career goals and the needs of the organization.
4. Communicate effectively: Clear and transparent communication about talent mobility
programs are essential. Employees need to understand the benefits, opportunities, and expectations associated with mobility. Global mobility professionals can help assignees with intercultural training.
5. Offer necessary support: Employees going through mobility programs should receive the necessary support, including training, mentorship, and resources, to help them succeed in their new roles.
6. Monitor and adapt: Talent mobility programs should be subject to continuous evaluation and adaptation. Data analytics can provide insights into the effectiveness of the program and help make necessary adjustments.
By implementing well-structured talent mobility programs, employers can unlock the potential of their assignees, accelerating their growth and preparing them for leadership roles. This not only leads to higher employee retention rates but also positions the organization for long-term success in a competitive business environment.
To thrive in the AI era and beyond, organizations must invest in talent mobility as a cornerstone of their talent management strategy. It’s a win-win, benefiting both employees and the organization as a whole.
Employee retention is a critical aspect of any successful organization. When employees choose to relocate for work and then stay with the company for an extended period, it’s a sign of a mutually beneficial relationship. There are several key factors that contribute to the staying power of relocated employees, and understanding them can help organizations foster long-term commitment and growth.