03 Sep Global Mobility Recruitment to Grow by 50% till 2020
The year 2020 is roughly two years away, but global mobility managers should start planning for it this early. Why? While the recruitment and hiring of foreign nationals increased by 25 percent in the last ten years, they will soar by 50 percent from this current year to 2020.
That means that whatever recruitment plans global mobility managers have in their pipeline by now, that will increase by at least half in the next two years. The search for talent will inevitably rise as well, and global mobility managers will do their best to edge out the competition to get the cream of the crop.
According to the latest research by PriceWaterhouseCoopers, the trends that are emerging now and which will dominate the industry later will be so radically transformative, that those who are not prepared for it can be left in the sidelines.
The second trend is a result of the first trend. Recruitment campaigns will become even more competitive. Assignees will realize their worth and that they are in demand. They will start comparing compensation packages and perks with an intensity and diligence they had not shown before.
They will keep asking the global mobility managers the opportunities, privileges, and benefits that they can enjoy and experience in their company uniquely. Given this kind of recruitment arena, the global mobility manager must not just make sure that the compensation package is higher than norm, they must also polish their skills in negotiation, communications, and persuasion.
The third trend the research notes should not come as a surprise, as it is prevalent in almost all industries around the world. The millennial workforce will make up the bulk of the assignees for the next generation.
The so-called global mobility map is undergoing seismic changes that will inevitably impact the tasks and processes of a global mobility manager such as their recruitment campaign, the demographics of their assignees, the way they deal with said assignees, and the overall influence of the assignees they recruit on their company.
The first trend that the research makes should come as welcome news for global mobility managers: the number of assignees that companies will be looking for will accelerate exponentially.
The Guardian has its own independent report saying that 72 percent of the international workplace will be composed of millennials by the year 2025.
There will still be Baby Boomers, many of them senior management who are not yet keen on retirement. Gen-Xers will still be hard at work in their posts, but what makes them different from millennials is that they cannot be as mobile or flexible. The Gen-X managers and senior leaders are already used to a prestigious compensation package, have spouses and children to think of, and will prefer a more stable long-term post where they can grow roots as they watch their families grow.
The millennial and Gen-Z talents are not so homebound or earth-based. Many of them graduate from university expecting to work in a foreign country, as a way to get valuable international training or as a means to boost their career.
These workers will also not be rigid when it comes to their compensation package. Global mobility managers who want to woo them into signing onboard would be better off offering perks and privileges that are more experiential, than monetary.
These young talents want to live life to the full while working and learning. For example, they might prefer cozier accommodations with some tech devices, situated right in the middle of their new region of employment, as opposed to a higher salary. Instead of increased paid leaves, they might prefer perks that can enhance their work-life balance.
If the global mobility manager is living in an area that promotes this kind of value, like Northern California, then he just might find it easier to tap into the millennial and Gen-Z psyches than most of his colleagues.
If the global business landscape is opening its doors wide for these two young generations, it is also extending the same courtesy to emerging countries or regions. These are cities, communities, nations, and continents that are fast proving their competitiveness and are catching up with the so-called developed economies.
Their own economies are booming, thanks to a growing market as well as the spread of dynamic enterprises that are using technology to break boundaries.
These emerging countries can also become emerging talent hubs for global mobility managers. Many of the talents in these places still want to study in the west or make their fortune in countries like the United States.
Global mobility managers might find them to be more open, accommodating, and enthusiastic especially for these reasons. An opportunity to work in a tech hub, coupled with online mentoring and professional courses, just might be the right offer to whet their appetite.
Finally, the last trend that global mobility managers have to account for is the increasing cross-culturation that will define future international teams.
In an age dominated by social media, the lone-wolf expatriate will become the exception, and not the norm. Teams assigned to various regions will be assembled, and their members can come from different ethnicities and communities.
For example, a fast-rising startup in Silicon Valley will need not just one engineering genius but an entire department who will be made up of Asians, East Europeans, and Pacific Islanders. Global mobility managers would have to adjust their paradigm and hiring choices accordingly.
They would also have to emphasize certain aspects in their selection criteria, such as the ability to work with multi-ethnic teams, mobility, and acceptance of an evolving kind of diversity.
At the same time, the global mobility manager would have to be flexible enough to create and disband a team at a moment’s notice.
One client company might ask for one department this month. After six months at the end of the project, they must be able to dissolve the team as a unit and then assign their respective members to various international posts.
An evolving multicultural team, the capacity for mobility, a massive talent market of millennials and the younger Gen Zs — welcome to the global mobility map of 2020.