Skilled talent shortages will continue to impede global growth, and if not addressed, could have a significant impact – an estimated 85.2 million unfilled jobs in 20 major economies – by 2030. In the face of fierce competition for talent, employee mobility programs can drive business growth, increase agility and promote diversity and inclusion goals. Yet many HR executives are hesitant to implement or expand a program because they’re concerned about costs. But companies are learning that mobility programs are an investment that offer a remarkable return.
A flexible mobility program that remains as agile as the organization can generate substantial value in employee engagement and productivity. Perhaps most importantly, the right mobility program can help your company win the war for talent. Here are five ways your modern mobility program can make a difference:
1. Improve access to talent: Earlier this year, U.S. unemployment hit a 50-year low, resulting in increased competition for workers with sought-after skills. Mobility programs aren’t just about relocating employees physically—they are the embodiment of a new definition of work; a combination of traditional full- and part-time employees, remote workers, digital nomads, giggers and contractors. A contemporary mobility program allows organizations to recruit beyond physical boundaries and improve their ability to attract top talent regardless of location.
2. Proactively address complexities around immigration: Research from the National Foundation for American Policy illustrates how difficult the current environment is for HR professionals seeking visas for overseas talent. Regional compliance with regulations like, for example, the EU’s General Data Protection Regulation (GDPR) presents another set of challenges. A modern mobility management program enables companies to take a more proactive approach to government policies and regulations that affect businesses, allowing them to stay informed, make their voices heard, model scenarios and develop forward-looking strategies.
3. Scale mobility benefits to organizational value: Traditional mobility programs offered all employees the same suite of benefits. That approach doesn’t always work since employee contributions aren’t uniform. A modern mobility program factors in employees’ value to the company and could include tiered or capped benefits tailored to the skill set and experience of a team member, as well as to the organization’s culture and budget needs.
4. Customize mobility benefits to fit employee needs: One-size-fits-all programs don’t work for employees anymore. The on-demand economy has conditioned people to expect personalization in virtually all aspects of their lives, and while one set of employees might value support for relocating with their children, another might not use that benefit but would appreciate help moving pets. With a flexible mobility program, your company can accommodate individual preferences, increasing employee satisfaction.
5. Improve organizational awareness of emerging workforce trends: A modern mobility program can serve as an invaluable resource in a rapidly changing world. Insights from trade associations, supply chain experts and other mobility-related professions can help businesses identify patterns and build alliances so they can weather changing economic conditions and evolving policies and regulations.
The “war for talent” accurately captures the struggle HR professionals find themselves facing today. An evolving workforce, a growing skills gap and the changing expectations globalization brings are challenges for companies of all sizes. An effective mobility program can drive growth and enhance agility to address those challenges if the line of reasoning shows the advantages of outpace cost concerns.
If you’re facing a cost push-back, consider building a business case around these five points to demonstrate how a modern mobility program can pay dividends beyond the expenses associated with the initiative. With a mobility program that improves access to talent, addresses immigration complexity, offers benefits tailored toward individual and organizational needs and new alliances that keep the company informed of emerging trends, you can compete for talent — and win.