As recorded from heads of HR at large companies in Malaysia and Singapore, here's four mobility trends to watch in the coming year:
- Mobility will be a balancing act among various needs
- Well-defined, end-to-end mobility objectives
- Transfer of knowledge and skills from foreign to local talent
- Permanent transfers will keep growing as a trend
Further, the predictions are that talent mobility will continue to see volume increases to support knowledge and skills transfers, employee development and career growth as companies seek to address the ongoing skills gaps that exist throughout the APAC region.
However, costs will remain a high priority to address. Companies will need to carefully balance and understand the business purpose versus the cost of mobility. As traditional long-term assignments have been reduced over the years due to cost, permanent transfers have become the primary option for getting talent into a certain location.
Companies are also looking at supporting a rising volume of self-initiated employee transfers with less generous relocation benefits. Engaging talent with opportunities to move within the region is an interesting strategy that is likely to pay off for companies seeking top talent.
It will be interesting to watch how companies address employee needs as it relates to talent mobility options to keep them developing and engaged. A high-functioning and knowledgeable mobility team with flexible policies and processes will be an advantage in the future.
For those that want to consider more regarding cutting costs on their mobility program, consider our white paper: Understanding the Cost of Your Mobility Program. And, for more information on understanding employee-initiated mobility, or handraisers as we call them, check out our white paper: Understanding Employee-Initiated Mobility.
According to Strategy Analytics’ “Global Mobile Workforce Forecast”, the global mobile workforce is set to increase to 1.88 billion in 2023, accounting for 43.3% of the global workforce. With a future comprising a mobile workforce on the horizon, in this feature, we draw focus to the highly-anticipated workforce mobility trends HR leaders based in Singapore and Malaysia foresee for the year ahead. Mobility is also about mobilising funds, technology, expertise, mindset, culture and all relevant and related needs that will take centre stage. “The solution is balance. We need to balance the need/want of the company with not only the need of the employees, but also the country or society and the economy as a whole. The ecosystem needs to be balanced not only with dollar and cents but also with values and the post-effect of any mobility.”