New Ideas for Succeeding in a Disrupted World
Economic and political leaders have met at the World Economic Forum in Davos (WEF) to discuss current and future major global trends. These trends are impacting global talent mobility, and, in many cases, talent mobility is part of the solution to address current and future workforce challenges. Let’s bear in mind the bigger picture beyond daily mobility activities and explore how mobility management connects with global megatrends shaping our future.
When Women Thrive
2017 headlines prove that people talk the talk, but are not walking the walk. Data, facts, and talk are not moving the needle – in fact the economic gender gap has widened to 217 years. Leaders and organizations must ask themselves, "Are we making progress or noise?"
Talent mobility must play its part to help foster gender parity within the managerial workforce. Going on international assignment is normally a precondition in reaching top managerial levels within many multinational companies. A shockingly low percentage of the expatriate workforce is female. Increasing the participation of women in the globally mobile workforce can help them break the glass ceiling and reach the top.
Healthy, Wealthy, and Work Wise
Seismic shifts in demographics, where people are living longer than ever before, are rapidly forcing changes in the way people work and challenging the relevance of traditional definitions of employment and retirement. Organizations need to stay fully involved with employee health care, professional development, and financial security.
Globally mobile employees are particularly at risk of having a fractured pension history, healthcare coverage gaps, and complex financial issues to address. Ageing mobile employees facing retirement and healthcare issues as well as new generations (Millennials and Generation Z) starting their international career with debts and little financial visibility, need support. In addition to providing an expatriation package, a growing number of organizations are introducing financial advice and guidance in terms of healthcare and retirement for their mobile talent.
The Future of Work
Work patterns are evolving to respond to the rapid technological changes as well as the expectations of the new generations. Understanding these changes is critical to adapt mobility practices to the realities of the new global business environment.
Many mobility programs have been traditionally designed for employees on long-term assignments planning to spend a significant part of their career with the company. The future of work is about speed and change: faster learning and progression as well as more frequent career changes. International assignees are increasingly on shorter and more diverse forms of assignments including extended business trips, virtual mobility, third country assignments, and commuters. The rise of the gig economy means that a growing number of assignees might not even be employees of your company.
Mitigating Risks in a Disrupted World
Mobility managers are stakeholders in risk management. All too often international assignees are on the front line when disaster strikes and HR teams need to play their part in ensuring the safety and well-being of employees.
The WEF’s 2018 Global Risk report, prepared in partnership with Mercer’s parent company Marsh & McLennan Companies, details the most pressing issues that companies and governments are facing and explore possible future shocks that organizations need to anticipate.
Follow the discussions that have taken place in Davos to learn how to succeed in a disrupted world.