An international expatriate assignment is a complex and risky beast. The amount of communication, processes, planning, regulatory hurdles, emotional stress, and the sheer number of people internally and externally involved is staggering. There are so many opportunities where the "train could come off the tracks." Failed assignments do happen!
And did I mention these assignments are usually very expensive? Non-compliance adds cost to the situation (think fines and penalties or permanent establishment issues), along with some other negative side effects (think delayed timelines on client projects or negative impact on corporate reputation).
But obviously the opportunity and positive results for companies continues to outweigh the negatives. Most mobility programs build themselves to address or minimize risk, seeking to be at least compliant on the tax and immigration side of things. Understanding and properly managing the risks associated with expatriate assignment programs is an absolute requirement for mobility teams. It is the baseline for a world-class program. Try this if you want to ponder further about a world-class mobility program.
This new article from Global Tax Network will help you understand the multiple risks hiding in any and each expatriate assignment and provides some exceptional advice on the steps to take for minimizing those risks to protect your program, employees and company.
After reading that article, download our "Planning for International Mobility Survey Report" to gain further insights into what the highest rated mobility programs are doing when planning for international mobility.
Today’s global challenges have raised the stakes for both companies and countries. While companies are increasing global relocations, attempting to balance both cost control and growth, countries are responding in kind by tightening regulatory compliance for cross-border assignments and business travelers. The increase in global relocation in the face of increased scrutiny has resulted in heightened risk for those managing mobility programs. How do you manage global assignment risk? Below we outline key risks as well as four steps to consider in helping your organization effectively manage global assignment risk.