Oxford Economics states that 28% of current business would be lost without in-person meetings. Add to that Ernst & Young's prediction that there will be a 60% increase in the number of people sent to growth markets within the next three years, and the reality is that there will be increased risk within global mobility programs.
Travel is now being built into the employment contract and is basically a work requirement. Shorter stints for more employees is a key trend in global mobility, and, with more people roaming, there are risks related to personal safety. Geo-political instabilities, terrorism and natural disasters are some of the potential causes.
At the same time, many companies are not preparing employees for these risks. How does your program support the stress and challenges experienced by global employees?
First of all, given the increased risks the majority lack emergency protocols (60%) and don’t offer regular updates about political or personal security in the host destination (62%). Moreover, almost 70% of respondents do not provide their expats with psychological counseling, which could address the stress and challenges experienced by global employees. In general, survey participants agree that softer support for international assignees and their families is underused, partly because their benefit is quite hard to assess. According to UnitedHealthcare Global, these report findings confirm the visible gap between recognized human capital risks and responses to these risks. Highlighting the lack in security-, health-, and wellbeing-related support, as well as cost saving-oriented sacrifices in these important areas, UnitedHealthcare Global concludes that these gaps are representative of the new era of globalization and call for innovative and borderless solutions.