The economic growth of India is undeniable and much of the growth has been driven by foreign companies investing in India. With the abundance of highly skilled talent in India, more outbound mobility from India into the U.S. and Europe is likely to rise. Regardless of the type of move, the wide range and available talent supports the growth of outbound relocation from India.
It's no secret, the demand of higher knowledge and expertise will continue to increase. Companies will need to proactively review whether their current global policies are fitting according to the culture and needs within India? With the increasing number of relocations outbound from India, what are the corporates offering to maintain a competitive advantage over their competitors?
Mobility into India is currently tricky as suitable accommodations for employees and their families is difficult to find and preparing expats for the culture is often an afterthought. How, and what are corporates doing so relocation to India remains attractive for their employees and their family? In the article, Mr. Rohit Kumar suggests that global mobility managers have to come to terms with the need for "assignees to India to have complete support." He goes on to say, “We’ve seen first-hand how companies are reducing the number of days support they offer their assignees. This is often self-defeating. A company might save $500 but leaving a family on their own will leave them frustrated and exasperated. The burden of this experience will have a knock-on effect on the productivity of the employee in their new role in India.” Therein lies the challenge for most mobility managers in making a financial case for the extra day or two of service.
The success of an assignment matters for your employee and your company, what are you doing to make sure each, and every assignment is successful? For starters, expectations should be set up front with employees, however it's a balancing act as the assignees should be more focused on their role rather than the issues they may encounter with culture and housing.
India’s encouraging economic data shows the extent to which India is an attractive place to do business and therefore likely to make an even bigger impact on global mobility than it is now. “The Indian economy is growing reasonably fast, at around 7-8% per annum for the next 10 years,” says Mr Kumar. “In effect, that means GDP will almost double in the next five years from nearly US$3 trillion today to close to US$5 trillion. This is a phenomenal number.“A lot of this growth will come from international companies, particularly American and Japanese companies. Their faith in China is shaken as costs and conditions there become more difficult.