The War for Talent: What Does It Mean For Your Global Mobility Program?
Trending terms such as “The War for Talent” and “The Great Reshuffle” have been regularly heard throughout the Global Mobility industry in 2022 and continuing into 2023. If you’re unfamiliar with these workforce and talent trends, symptomatic of the COVID-19 pandemic, here’s a quick synopsis:
The Great Reshuffle:
The Great Reshuffle, also known as “The Big Quit” or “The Great Resignation” refers to the time period from early COVID-19 pandemic to current day, where employees are quitting and redirecting their careers in search of a job that offers better opportunities, personal and career fulfillment, and better suits their values and life choices.
The War for Talent:
The War for Talent refers to the struggles faced by companies in recruiting and retaining successful and talented employees. Employers are being put in a position to attract and retain employees with competitive opportunities, or risk missing out on talent to more desirable organizations. The key here is not only recruiting, but then retaining the talent.
What does this mean for your Global Mobility program?
From employee concerns such as lack of work-life balance to dissatisfaction with career advancement and opportunities, employees are more willing than ever to switch jobs in order to meet their wants and needs. Although it seems like finding applicable talent has been scarce, 53% of American workers say they would retrain for a career in a different field or industry if they had the opportunity. Therefore, the Great Reshuffle and The War for Talent are not the end of quality talent, but a call for all organizations to elevate their current and future employees’ experiences and ensure that they are offering competitive and valuable opportunities to current and future employees.
“Today, candidates have unlimited choice. Employers that don’t offer flexibility will see higher turnover as employees move to companies that offer a value proposition that better aligns with their desires. The time is now to reevaluate traditional hiring and retention tactics and provide a superior candidate experience” – Vikram Ahuja, CEO & Co-Founder of Talent500.
At this point, the Great Reshuffle has created such a flux state in the job market, it’s no longer enough to just offer unlimited PTO, casual Fridays and monthly pizza parties, it’s time to seriously consider both the employees career and personal wants and needs!
What creates a competitive job package?
Besides competitive pay and health benefits, it’s important to take into consideration other factors of an employee’s experience that can truly affect whether or not they stay in their role or join in the Great Reshuffle. More than ever, employees are feeling the need to grow/advance in their careers, feel immersed in their role, and have unique and meaningful opportunities.
Upskilling is a big benefit for the employee and a goal that all employers should have for their workers. If The War for Talent is making it hard to find new talent options, it seems natural that leaders should begin seeing internal mobility as a critical piece in retaining employees and strengthening their competitive edge in the job market; Employers who invest in an employees long-term goals and career growth are the companies that top talent are more drawn to. Therefore, leaders should be encouraging internal promotions and continuous learning by offering more courses, certifications, and other professional development tools.
Organizations should be committed to investing in upskilling tools, programs, and opportunities that strategically plan to meet their current and future needs. During a time where The War for Talent is making recruitment difficult, upskilling can fill talent gaps and cut down on recruitment costs. Lastly, upskilling makes room for a succession plan to form; when a path is developed for top talent to move forward, they are more likely to feel satisfied in their career, therefore creating a stronger retention rate.
Global Mobility as a Development Tool
Global Mobility has traditionally been utilized in order to strengthen an organization’s presence in the global market. While that is still a huge strength and opportunity for global expansion, and perhaps even global talent hiring, it’s time to consider Global Mobility as a competitive advantage for the talent you seek to hire or retain.
Any high-performing and successful employee is not going to desire a job where they remain complacent in the same job duties and roles every day. Global Mobility is a fantastic way to provide employees and potential talent with an opportunity that wouldn’t be available to them otherwise. Global Mobility offers the ability for employees to travel to new places, immerse into a new culture, further their career through instilling flexibility, resilience, cross-cultural communication skills, the ability to adapt to new circumstances and to deal constructively when the inevitable roadblocks arise.
How to create a successful and strategic Global Mobility program:
You’re probably thinking that all of this sounds great, but how does a company start to implement and dive into providing a successful and thorough Global Mobility program? There’s no doubt that a lot goes into launching and maintaining a beneficial program. Lucky for you, Ineo has the tools that you require to do so!
Ineos Global Mobility Platform
Ineo’s Global Mobility Platform has the ability to help you save time, streamline Global Mobility management, and enhance the experience of mobile employees — all in one integrated platform.
Ineo’s Global Mobility software offers full lifecycle assignment management and integrates every aspect of the mobility workflow– from supplier partner management to global compensation. Leveraging Ineo’s global tax knowledge, the platform integrates data entry and reporting with logic to support the complexities of Global Mobility programs. Stay in touch, on track, and on budget with the Ineo Platform.
There’s a lot that goes into a comprehensive Global Mobility solution and we’d love to tell you more about Ineo’s Global Mobility Platform. Reach out to our team of mobility experts today!
Compliance is key!
Reach out to Ineos Mobility Tax Professionals who can provide an expert level review to corporate mobility programs and RMCs to ensure your mobility policies comply with country-specific payroll tax and withholding laws. Some of the benefits of this audit process include:
Line-By-Line or Policy-By-Policy Review
Our tax professionals will look at each individual component from a tax compliance perspective and offer guidance on necessary revisions.
Accurate Tax Coding According to Policy
We ensure that each and every expense category an assignee or transferee might incur is tax coded correctly within the policy.
Gross-Up Policy Review & Revisions
Our experts will review and revise your gross-up policies, for while these policies may seem similar to payroll withholding laws, there are significant differences.
Demo our platform today!
Enhancing your organization’s offerings for employees is always a step in the right direction. Take a look into The Ineo Platform today to learn more about how our Global Mobility Software and other Global Mobility Tools can assist you in maintaining a successful and robust program. Reach out to our Global Mobility experts and explore the possibilities.
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