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New Report from EY on the Positive Impact of Talent Mobility

5 Jul 2023 04:13 | Sharon Michnay (Administrator)

EY published the results of the EY 2023 Mobility Reimagined Survey and the insights examine how talent mobility is underutilized at most organizations.

How Reimagined Mobility Can Help Organizations See Reward and Not Risk

In today's globalized economy, workforce mobility is more important than ever. By sending employees on international assignments, organizations can gain access to new markets, build relationships with key stakeholders, and develop their talent pool. However, mobility can also be risky. There are legal, compliance, and tax considerations to take into account, and the employee experience is critical to the success of any mobility program.

The EY 2023 Mobility Reimagined Survey reveals that many organizations are not realizing the full potential of their mobility programs. The survey found that only 30% of respondents believe their organizations are effectively managing the risks associated with mobility, and only 25% believe their organizations are providing a positive employee experience.

This article discusses how organizations can reimagine their mobility programs to mitigate risk and maximize reward. The key insights are as follows:

  • Employee experience is as important as mobility execution. Organizations need to focus on providing a positive employee experience for those on international assignments. This means providing clear communication, addressing any concerns or challenges, and ensuring that the employee's family is also supported.
  • Mobility can cultivate cross-border growth for people and organizations. By sending employees on international assignments, organizations can help them develop new skills and perspectives. This can lead to increased productivity, innovation, and cross-border collaboration.
  • Organizations need to realize the full strategic and tactical value of mobility programs. Mobility can be a powerful tool for achieving business goals. Organizations need to carefully consider their objectives and develop a mobility program that is aligned with those goals.

One outstanding piece of information comes in the form of this chart showcasing the powerful impact of an integrated talent and mobility program.

The article concludes by providing some recommendations for how organizations can reimagine their mobility programs. These recommendations include:

  • Streamline mobility processes and invest in the right technology. This will help to reduce friction and improve efficiency.
  • Increase awareness of tax, immigration, and regulatory risks. This will help organizations to mitigate risk and comply with regulations.
  • Integrate mobility with other HR functions. This will help to ensure that mobility is aligned with overall HR strategy.

By following these recommendations, organizations can reimagine their mobility programs to mitigate risk and maximize reward. This will help them to attract and retain top talent, build a global mindset, and achieve their business goals.

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