Mobility Insights #1 - Planning Ahead
March 14, 2023
Key considerations for relocating your top talent
Whether you work in Global Mobility, Human Resources, or are responsible within your business for the operations of looking after key talent in your organisation - you'll definitely be confronted with the challenge of either moving vital employees to new destinations, or relocating senior or other project-specific individuals to new locations as your business grows and expands.
Planning ahead for any new assignment is key - not only to ensure you meet your business objectives, but also to make sure that the employee experience is the best you can make it. Whether you've moved people before or are looking to move your first international employee, making sure you make the right decisions at the time you offer a role, or an assignment to any member of staff is really important.
Here are some top tips from us about the things to think about in advance before you send your employees to start the next step of their career adventure in a new country:
- Immigration and Work Permits: Ensure that the employee is legally authorized to work in the new country. This may require obtaining work permits and visas, which can be a time-consuming process. Employers may need to engage with local immigration authorities or hire a third-party service to assist with the process. We can help you plan ahead with a range of Visa & Immigration services designed to make sure your employees can arrive in their new country with maximum compliance with local immigration laws - and don't outstay their welcome!
- Compensation and Benefits: Review the employee's compensation package and ensure that it is aligned with local market norms and laws. Consider factors such as cost of living, taxes, and currency exchange rates. Additionally, determine if the employee will continue to receive benefits from their home country or if they will need to enroll in a local benefits plan.
- Tax Compliance: Ensure that the employee and the employer are compliant with local tax laws. This may require engaging with local tax authorities and/or hiring a tax professional to ensure compliance with local laws and avoid double taxation.
- Relocation Support: Consider offering relocation support to help the employee with the logistics of moving to a new country, including finding housing, setting up bank accounts, obtaining a driver's license, and other essential tasks. Providing language training or cultural orientation can also be helpful to help the employee acclimate to their new surroundings. Don't forget that we provide a wide range of Destination Services like Home Finding, Settling-in, and local services designed to help your employees find a home and get settled in their new country.
- Legal and Regulatory Compliance: Ensure that the employee's employment contract and any other relevant documents comply with local laws and regulations. Consult with local legal counsel to ensure that the contract is legally binding and enforceable.
- Health and Safety: Ensure that the employee has access to appropriate health care services and is aware of any local safety regulations or customs that may impact their health or well-being.
- Communication: Ensure that the employee is kept informed of any changes to policies or procedures that may impact their employment. Provide regular opportunities for communication to address any concerns or questions that the employee may have.
- Reporting / Metrics & Data: Plan ahead to capture relocation specific spend to measure the effectiveness of your Global Mobility policies, analyse return on investment and provide the necessary reporting to senior stakeholders about the success of your assignment programme.
- The Extra Mile: Sometimes a little bit extra can go a long way - find out if you have room in your programme for some added extras to help smooth the transition period and help make your employee feel special and valued. We provide a range of local lifestyle and concierge services which can help your employees feel at home and give them space to enjoy their move to a new city and time to spend focusing on the things that really matter.
So whether you're a seasoned professional or moving somebody for the first time, we've got a solution for anyone looking to move their global talent around the world. So whether you're interested in a relocation programme made up of world class services, or alternatively looking for support to build and grow your Global Mobility offering, we can help you with a range of offerings including:
- Relocation Policy programme design
- Group Move consulting
- VIP / EVIP Move management
- Project Management
To find out more and for more information about how we can help you, please feel free to reach out to us for more information via either our website or by email at the details below:
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Achieve Cost Savings and Compliance in Global Mobility with Expert Audits of Household Goods Processes In the dynamic world of global mobility, achieving cost savings and maintaining compliance are paramount for any successful relocation programme. As organizations expand and relocate talent across borders, the complexity of managing these processes increases. Partnering with a consultancy business can streamline these efforts, particularly through a robust audit process. This blog delves into how a consultancy business can help a Global Mobility team achieve cost savings and compliance, with a special focus on auditing household goods processes. The Importance of Auditing in Global Mobility An audit in global mobility is a comprehensive review of the processes, policies, and practices involved in relocating employees. It identifies inefficiencies, uncovers potential compliance issues, and highlights areas for cost reduction. Auditing household goods processes is crucial, as these often represent a significant portion of relocation expenses. How Auditing Household Goods Processes Drives Cost Savings Identifying Inefficiencies: Vendor Performance: Audits can evaluate the performance of household goods vendors, ensuring they provide the best value. Inefficient or overpriced vendors can be replaced, leading to substantial cost savings. Process Streamlining:** By examining the entire relocation process, audits can pinpoint unnecessary steps and streamline operations, reducing time and costs. Volume Management: Accurate Volume Estimation: Misestimating the volume of household goods can lead to unexpected costs. An audit ensures accurate volume assessments, preventing overcharges. Cost-Efficient Packing and Shipping:** Audits can suggest more cost-effective packing methods and shipping routes, optimizing the entire process. Negotiation Leverage: Vendor Contracts: Armed with audit data, companies can negotiate better terms and prices with vendors. Knowing industry benchmarks and current spend patterns strengthens bargaining positions. Bulk Discounts:** Identifying opportunities for bulk shipping can lead to discounts, reducing overall expenses. Ensuring Compliance Through Audits Regulatory Adherence: Local Laws and Regulations: Different countries have varying regulations regarding the import and export of household goods. Audits ensure compliance with these laws, avoiding fines and legal complications. Customs Documentation: Proper documentation is critical for customs clearance. Audits verify that all necessary paperwork is complete and accurate, preventing delays and penalties. Policy Compliance: Internal Policies: Audits ensure that relocation processes align with the company’s internal policies, maintaining consistency and fairness. Expense Policies: Reviewing expense reports for household goods moves can prevent fraud and misuse of funds, ensuring compliance with financial policies. Risk Management: Insurance Coverage: Audits check that appropriate insurance coverage is in place for household goods during transit, mitigating the risk of loss or damage. Vendor Reliability: Ensuring that vendors meet compliance standards reduces the risk of partnering with unreliable or non-compliant service providers. How can working with a Consultancy business help with your audit process? Consultancy businesses bring specialized expertise to the table, making them invaluable partners for global mobility teams. Here’s how working with a consultancy partner can help you achieve efficiencies in your relocation processes: Expertise and Experience: Industry Knowledge: Consultancy firms have extensive knowledge of best practices and industry standards, enabling them to conduct thorough and insightful audits. Global Reach: With experience across various regions, they understand local regulations and can ensure compliance in multiple jurisdictions. Objective Analysis: Unbiased Assessment: Consultants provide an objective review of household goods processes, free from internal biases. Comprehensive Reports: They deliver detailed reports with actionable insights, helping companies implement effective changes. Continuous Improvement: Ongoing Support: Beyond initial audits, consultancy businesses offer ongoing support to continuously refine and improve household goods processes. Training and Development: The consulting business can also provide training to internal teams, equipping them with the skills needed to maintain cost-efficient and compliant processes. Conclusion In the realm of global mobility, a well-executed audit process is a powerful tool for achieving cost savings and ensuring compliance. By focusing on household goods processes, companies can uncover significant opportunities for optimization. Partnering with a consultancy business enhances this effort, providing expert guidance, objective analysis, and ongoing support. For global mobility teams, the path to efficient and compliant relocation programmes begins with a robust audit process. By leveraging the expertise of a consultancy business, companies can navigate the complexities of global mobility with confidence, ensuring that every relocation is as cost-effective and compliant as possible. Realm is a global consulting services business specialising in Global Mobility, based in London. If you’re looking to make changes to your Global Mobility programme or feel like you would benefit from some additional support and guidance, why not reach out to us for a chat ?
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