The renewed interest in Global Domestic Mobility is not a new point of conversation, but certainly one that is gaining even more traction in 2022. While international travel restrictions imposed following COVID-19 have eased, many organizations continue to focus their recruitment efforts domestically in search of the best and brightest talent.
And, quite frankly, amid a fierce battle for skilled talent – which is being felt in virtually every industry around the world – it makes good business sense to ensure that domestic policies address country- and city-specific nuances and circumstances to effectively attract talent within each domestic pool. A blanket “domestic” policy can lose its relevance in certain local markets, resulting in benefits that don’t align with local needs, service models that are impractical, and a lack of the right incentives for employees to relocate. Alternatively, domestic policies that are too locally focused can result in disjointed, administratively burdensome mobility processes.
Throughout the pandemic, Weichert’s Advisory and Client Services teams were flooded with questions and requests for guidance in building out a formal set of guidelines for administering domestic moves outside of the US, UK, and Canada – countries where we typically see the most relocation activity. But we were keen to generate some discussion surrounding Global Domestic policy development among our clients in the APAC region, so we hosted a number of corporate roundtables with local contacts.
Here are some of the salient points that came out of these roundtables:
The trends unfolding across the APAC region are consistent with what mobility professionals are seeing in other parts of the world, with mobility assertively taking the stage as a powerful tool in the war for talent. While the costs of relocation are significant, more organizations are recognizing that greater consistency in their Global Domestic Mobility framework can ultimately save money by creating efficiencies in recruitment and program administration, with the overarching goal of building and developing the talent pipeline.
As the world emerges from the worst global health crisis experienced by anyone alive today, so many APAC companies are on the cusp of returning to the growth they were known for, pre-COVID. Recognizing the burgeoning need for highly-skilled talent, coupled with the challenges of hiring globally, we see the sense of urgency to revisit the development of Domestic Relocation policies and programs to ensure that they are relevant, magnetic, and in alignment with the company’s mobility objectives.
Inside Insight from Our Advisory Team
From our extensive research, our global domestic survey, and our roundtables, we see that organizations are recognizing the need for greater consistency and streamlined administration of global domestic policies and programs. It is also evident that companies need special incentives to attract critical talent.
How, then, do organizations achieve these goals and simultaneously create more equity across domestic policies to align with overarching Global Mobility objectives?
Rather than adding new benefits or extending and expanding benefits that result in exceptions to policy and create unwanted precedents, Weichert recommends handling these requirements outside the relocation budget. Instead, mobility can advise the business, based on industry best practices, on how to structure incentive payments when critical milestones are met. This strategy not only encourages relocation acceptance but also helps secure the company’s investment over the long term.