Global workforce is “vital" for business, multinationals say

Over half say sending staff to global assignments has helped improve operations

Global workforce is “vital" for business, multinationals say
Almost all (98%) employers across the globe believe that mobile workforce is important to achieve their objectives, according to a recent survey commissioned by insurer AXA.

Despite global economic and political uncertainties, a third (35%) of the respondents stressed that such a workforce is critical to their goals. Results came from a survey of 250 HR directors working for multinational companies.

Data also revealed the benefits of sending staff to global assignments: A little over half (51%) said their international operations improved, while 44% said doing so improved their employees’ skills.

However, this doesn’t necessarily mean that multinationals are aiming for permanent relocation. About 38% said their staff increasingly want short-term contracts for global assignments, and 27% said their do not want to move permanently.

But the rewards for those who move permanently appear to be worth the effort. Of the HR directors asked, 42% said their companies tend to promote staff at the end of their assignments and 40% said they help staff find new roles within the country they are working in to employ the local knowledge they have developed.

Results showed companies have a hard time finding talent. Some 46% of the HR directors said finding the right people is the key challenge they face. Similarly, such assignments can cost employers. The companies said it cost them an average of $50,267 over and above an employee’s base salary for each staff member working abroad. Three-fifths (61%) of the HR also said pressure to manage international assignment costs has increased in the past five years.

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