The rock band Van Halen will forever be remembered for spandex, teased hair and changing lead singers more often than most people change socks. But there’s another side to VH that you likely never suspected: the band that launched such hit songs as “Hot for Teacher” and “Jamie’s Cryin” pioneered a unique methodology for spotting red flags that can be valuable to today’s corporate mobility managers.
Yes, you read that correctly.
It all starts with M&Ms. Brown M&Ms, to be precise.
Mexico is the second largest economy in Latin America, after Brazil. The country has an export-oriented economy with more than 90% of trade under free trade agreements. In recent years, exports of manufactured products have been expanding more than 10% per year, mostly due to the increase in car production.Due to new laws, Mexico has changed its regulations regarding oil and telecommunications, opening the market to foreign investors, with the oil industry growing particularly in the southeast states of Campeche, Veracruz and Tabasco.
Mexico’s housing market and economy are still recovering somewhat from the economic slump, which resulted from the US downturn. However there are many developers building new homes, which keeps prices at a reasonable level, and interest rates are relatively low in the social sectors due to subsidies. Low interest rates, salary and employment growth, longer payment terms and a recovery in consumer confidence are also expected to drive housing demand.
The real estate market is not well regulated in Mexico and properties rent very quickly. Landlords are requesting monthly rent payments in cash as many banks are now required to regulate recurring payments and report to the government for tax purposes. Continue Reading →
Last month, I partnered with Mark Frederick of IOR to present a webinar on the alignment of workforce mobility and talent management. As a follow-up to that session, Mark has written a guest post for our blog that expounds upon some of the concepts raised during the webinar. Specifically, the critical but often overlooked practice of assignment candidate selection.
The hallmark of a savvy Talent Mobility professional and department is behaving both strategically and proactively. One of the more neglected areas of Global Mobility support is on the front end of international assignments. Too often, candidates are chosen quickly without adequate decision making and then whisked away into support services before they leave the country.
A stronger, more strategic approach is to build talent pools of employees who would be ideal candidates for a global assignment. This type of process is all about identifying talent proactively, and the best place to start is with the business unit leaders. Mobility professionals are often “invisible” to the business units, so reaching out to them proactively will not only let them know who you are, but also brand you as a strategic business partner within the organization. Ask the business unit leaders to identify the talent they have that they think would be both interested and qualified for an international assignment and capture that group in a database. Continue Reading →
As companies face tighter competition for the best available talent, internships provide an opportunity to fuel their talent pipeline and present themselves as an employer of choice. According to the National Association of Colleges and Employers, the intern conversion rate in 2015 was 51.7 percent, making internships a healthy recruiting solution. Even more importantly, this report indicated that employees who completed an internship (or co-op program) with their employer are more likely to still be with the company at both the one-year and five-year retention benchmarks. Continue Reading →
Many HR professionals still manage workforce mobility as a purely tactical process, moving talent between points without considering each assignment’s long-term impact on their employees or their companies’ vision. But that’s a shortsighted approach, because workforce mobility can help organizations move the needle on their overarching talent management goals.
Our latest webinar saw Ellie Sullivan, SVP of Weichert Workforce Mobility’s Advisory Services team up with Mark Frederick, PhD, Director, Global Talent Management with IOR, to examine techniques to effectively align mobility with your talent strategy and provide insight into tools and “better practices” to improve the selection, development and retention of key talent.
During the program, they discuss case studies and personal experiences that will help you make meaningful program improvements, boost ROI and gain greater employee engagement. You can access the recording here.
We often hear that “nobody goes to college for a career in relocation.” In some ways it’s true; ours seems to be one of those industries that people find themselves building careers in without ever really planning to. One thing that may help change this, and raise mobility’s profile as a worthy vocation, is our summer intern program.
The idea for an intern program was suggested by our President, Dave Bencivengo, during his first Town Hall meeting of 2016 as a means of attracting, engaging and retaining talent. The idea caught the interest of Lindsey Cramer, Counselor in our Morris Plains office, who raised her hand to get involved.
“Along with a few other colleagues, I represented Weichert Workforce Mobility at a career fair at Seton Hall last year,” says Lindsey. “And a lot of students seemed genuinely interested in our business and wanted to know if we offered internships. When Dave mentioned it, it seemed a good time to revisit the topic and see what we could do.”
Once Dave greenlighted the idea, Lindsey assembled a team of colleagues representing different areas of the company to determine what a Weichert internship would look like and what areas of our business could provide the deepest engagement, and construct the program from the ground up. Continue Reading →
Brazil is the seventh largest economy in the world and the largest in Latin America. In recent years, the country has been one of the fastest growing economies in the world primarily due to its export potential. The country’s trade is driven by its extensive natural resources and diverse agricultural and manufacturing production. Also, rising domestic demand, increasingly skilled workforce along with scientific and technological development, have attracted foreign direct investment. However, bureaucracy, corruption and weak infrastructure remain the biggest obstacles to economic development.
The vast majority of expatriates who visit Brazil are surprised to know that they can find some of the same things that they have in their country of origin including food, many accessories, modern buildings, as well as many other expatriates areas as the country has become increasingly international.
The cost of living is also surprising to the assignee community; currently Brazil is very costly, not only in housing but all consumables.
With the steady increase in demand for a highly flexible and mobile workforce, Companies are growing concerned about a number of risks when it comes to business travel. These include employees using business visas to circumvent work visa obligations, violations of tax laws, the inability of their company to track length of trip stays, and employees misrepresenting their business travel activities. In this post, I’ll present statistics that demonstrate the urgency of the situation, identifying red flags and recommendations for overcoming the obstacles in managing extended business travelers.
A recent survey (2015) sponsored by NFTC and conducted by the law firm Berry Appelman and Leiden revealed the following statistics:
• Although about 60% of companies reported that their employees take over 500 international business trips annually, only one third of all respondents has a written business visa travel policy.
• The overwhelming majority of respondents (77 percent) would like to have improved capability to track business visa travel. Today, only one in ﬁve global mobility pro grams track all business visa travel.
• Authorization for business travel is generally approved by the business unit or employee manager in the employee’s home country. Companies then rely on a variety of resources (e.g. law ﬁrm, visa processing company, internal resources) to process the business visas.
In response, we felt it appropriate to create what we consider to be the Best Practices for extended business travelers. To get started, it makes sense that your company understands your areas for exposure, engages in due diligence and identifies specific risk areas: Continue Reading →
The report provides an outlook for workforce mobility trends affecting all industries, an analysis of such mobility hot topics as flexible programs and programs for millennials and a discussion of major challenges that could impact the deployment and management of mobile talent in the coming years.
Some of the most valuable insight in our survey comes from breaking down the results by industry. So for our latest infographic, we’ve pulled out some of the insight we collected from companies in the retail sector. Here’s what they told us.
Fall usually means football and the end of baseball. This fall, all eyes are on the Fed as the threat of an interest rate increase is the main concern. Interest rates are the wild card in the continued slow but steady housing recovery. My view is that housing has “recovered” because 2006 peak prices were never sustainable.
If a rate increase occurs, there are two schools of thought on the potential impact. First is that the increase will reduce purchasing power and snuff out any further chance of continued price increases and demand. The second is that sideline (rate) watchers, those who have contemplated a home purchase, will jump into the purchase market for fear of losing out.
This second scenario will add to what we have largely seen over the past several years as a “rate-driven” demand. When we can get to a point where rate changes are offset by substantive wage growth, and both first time buyers and others can act based on needs, we will have cleared a major hurdle.