Singapore has been ranked #1 for both quality of life and happiest country in Asia, and that’s because the economic, political, socio-cultural environments – including healthcare, education, and transportation — are all top notch.
When we ask our service providers to weigh in on the challenges expats face when settling in to life in Singapore, there are very few downsides reported. Basically speaking, according to PERC and the anecdotes we hear from our clients and assignees, it is one of the easiest countries to adjust to when relocating from virtually anywhere in the world.
In this blog, we will address the various components of expat life in Singapore, highlighting the pros and cons.
For the tenth annual edition of our workforce mobility survey, we took a fresh approach. As you know, the survey’s first decade was all about how workforce mobility was responding to challenging real estate markets across the U.S. and Canada. Our 2016 edition has expanded to a global survey, identifying the top “game changers” that will require mobility professionals to re-examine how they administer their programs in the future.
According to the survey results, mergers, acquisitions and divestitures represent the most prominent workforce mobility game changer, experienced by 55 percent of responding companies over the past year and anticipated by 42 percent in 2016. Unfortunately, while mergers and acquisitions are designed to build scale, expand markets and acquire talent, few organizations anticipate the impact on
Similarly, the mood is generally positive, as is the latest real estate report: fewer distressed properties, fewer foreclosures, continued appreciation.
Speaking of hot, that’s a word your local Realtor might use to describe the real estate market. In fact, we’re seeing a lot of emerging “hot spots” across the United States—areas that are experiencing favorable real estate market conditions. Sure, questions remain. How long will the trend last? When will the Fed raise the interest rates? What impact will that have? When will supply increase to cool off appreciation? When will TRID be an afterthought?
We have no choice but to wait. As the answers unfold, let’s enjoy what summer has to offer. Here are some market highlights from the National Association of Realtors (NAR):
Conventional wisdom and experience dictate that saying you want to break up and actually doing it are two very different things. That’s why many people were genuinely surprised when the majority of UK citizens voted to support British departure from the EU in the recent referendum.
Although the intent to exit is now official, the full scope of what leaving the EU will entail is still unknown. Cancelling UK treaty obligations could be relatively easy, but negotiating new trading relationships, tax treaties and immigration rules and regulations could be much more difficult and take much longer, without any guarantee of success. In the interim, there are some things that are important to understand regarding the implications of the Brexit referendum, particularly in regard to workforce mobility.
Although it may be a new term to you, the Safety of Life at Sea (SOLAS) treaty has been around since the wake of the Titanic disaster to ensure that all ships are soundly constructed and safe to operate. The latest SOLAS amendment, created in response to a rise in reports of ships sinking at sea due to under-reported cargo weights, will require all container weights, including contents, to be verified prior to shipping. This amendment goes into effect on July 1, 2016.
In some areas of the world, such as the United States, Canada and most of Europe, gaining access to container scales should not pose a problem. But in certain regions of Asia, Africa and South America, where shipments are typically graded by volume instead of weight, there could be issues.
The Weichert Move Network has been monitoring these developments and strategizing with our move management partners as to how to best address the new regulation once it goes into effect. While there will be a lot written about SOLAS in the coming weeks, there are basically two things our clients and their globally mobile assignees need to be aware of: Continue Reading →
In today’s highly competitive work environment, employers are seeking ways to effectively expand their talent pool, and are also recognizing that the global mobility of talent is a key driver of growth. While employers seek to leverage the collective knowledge and experience of their employees, diversity of the globally mobile workforce has not kept pace with the profile of the general workforce. Specifically, when it comes to embracing a more diverse workforce, LGBT employees face significant barriers to global mobility opportunities.
Forward-thinking companies are incorporating Diversity and Inclusiveness initiatives into their global mobility programs wherever possible, and where restricted by law, are both working around and creating solutions that help LGBT employees seek out and accept international assignments as part of their career journey. Through the efforts of strong leaders, these companies are implementing inclusive solutions to foster the success of all international assignees, by considering the individual support needed by all candidates. Above and beyond the challenges to promoting a more inclusive corporate culture, the current global regulatory environment is dynamic and increasingly complex.
We are proud to be playing a significant role in this week’s Worldwide ERC Americas Conference in Houston, May 18-20. In addition to our sponsorship of the event, several Weichert Workforce Mobility subject matter experts will be sharing their insight and promoting industry knowledge.
Gustavo Higuera, Regional VP of our LATAM Operations, will be one of the featured experts during the Global Thought Leaders panel. Moderated by Peggy Smith, President of Worldwide ERC, this panel will see Gustavo discussing some of the most critical industry issues alongside experts from such companies as Chevron, Visa and The Brookings Institute, to name a few.
Additionally, Weichert Workforce Mobility and Weichert Corporate Housing will be partnering for a session entitled Duty of Care: How to Assist Your Employees When a Medical, Physical or Natural Crisis Occurs. Marea Nathanson of WCH (a member of the 2016 NRC Planning Committee) will moderate the panel and our EVP and General Counsel Steve Jones will be a featured panelist.
If you are attending this year’s event, we hope you’ll take the time to check out these sessions.
With talent shortages well documented and voluntary turnover largely caused by a lack of career development opportunities, your global workforce mobility program can be a strategic tool for supporting diversity and inclusion. What follows are some best practices to consider as you secure meetings with HR/Talent Management to align your 2016 goals:
Unfortunately, women are still in the minority among the expatriate community, as stereotypes often prevent managers from asking females to consider an assignment. For example, assuming a young female executive would rather settle down and have children than advance her career through an assignment. Some ways that companies can increase the number of women considered for international assignments include: Continue Reading →
Companies have been relying on temporary assignments for several years now, as they help them meet short-term business objectives and retain employees who are reluctant to permanently relocate. However, as competition for the most highly-skilled workers intensifies, companies are using temporary assignments in a more strategic way — to fuel their talent pipeline.
Rotational assignments are becoming one of the more commonly used types of temporary moves, with nearly one-third (32%) of companies responding to our annual survey syaing their rotational volume will likely increase.
Rotational assignments are defined as a series of two or more assignments, typically short in duration, upon completion of which, an employee typically settles into a final, permanent location. The selection process is often rigorous, and companies focus on candidates who anticipate staying with the company long-term and possess the ability to transfer skills and experience learned on assignment back into the company. Continue Reading →