Talent still matters. The coronavirus didn't change that at all, but it has changed how talent management teams and recruiters are working to engage and secure new talent. Here are a few trends and predictions that we have been writing about that are worth considering:
- For many companies, there are a reduced amount of resources available to develop and retain key talent. The pandemic's negative impact on travel and to the economy has most definitely created challenges for developing people through both domestic and global assignment opportunities. Relocation budgets are increasingly being challenged and likely to decrease.
- While some employees are still relocating, mobility programs are mostly seeing reduced volumes, and many employees and families have placed their relocations on hold for the time being. However, see what lessons are being learned during the pandemic for creating an improved employee experience: "Unprecedented challenges in an unprecedented time"
- A greater number of roles and positions will be able to be handled remotely from anywhere and this could have a reduced volume knock-on effect. Check out this recent post that explains more: "Is 'WFA' now the biggest talent attractor?"
- Along a similar theme, de-location might be the hottest new policy in global mobility! Read on about this trend here: "How to make the most out of your 'de-location' program"
- Global mobility has an opportunity to "get strategic" and secure a seat at the table by providing greater insights and guidance in this new mobility environment. See a couple of our recent posts that explore how mobility managers and directors can elevate their impact: "Does mobility have a seat at the table?" and, "What does 'doing more' look like for global mobility?
- Almost half of employers are predicting a fairly quick bounce back and that they will resume "business as usual" when it comes to global mobility, continuing with the same number of international moves as before the pandemic hit — even with the possibility that COVID-19 infection rates may rise again, with tighter travel restrictions being put back in place and borders being re-closed. At the same time, many suggest something counter to this idea of a quick bounce back and ask themselves, "Has COVID-19 'put a fork' in the long-term assignment?"
- Global mobility will be focused on how to support DE&I initiatives within companies. Try this post and this post and this post.
- With mobility programs re-evaluating their situations due to the impact of the pandemic, many are re-thinking their level of outsourcing, their partners and their policies. Try this post: "What is the right approach to policy for your mobility program?"
- New mobility lanes are developing as employees consider dense, urban high-cost locations versus more suburban and rural destinations that have fewer people and lower costs. We might also see more domestic and regional international activity versus fewer cross-continental moves.
Let us know which of these resonate with your program and whether you are seeing additional trends!
Returning to how things were before doesn’t look set to happen any time soon, with business travel historically rebounding from crises at a slower pace than leisure travel. Some countries, such as the US, have also restricted visas in a bid to boost their economy and protect national jobs by encouraging organisations to hire locally – rather than relying on contracting or sub-contracting foreign workers during the pandemic.