87% of business leaders believe empowering employees to relocate boosts talent retention and satisfaction

A recent report from leading global mobility platform Localyze has found that relocating for work, whether it be short or long term, has a positive impact on employee performance and happiness in the workplace.

78% of business leaders claim that offering relocation support improves employee’s performance at work, while 87% stated that short-term mobility options, such as short-term relocations, boost employee retention and satisfaction.

Global mobility is an HR function that enables companies to transfer employees across borders from one country to another. These transfers, also known as assignments, can broadly be classified as business travel, short-term, long-term, or permanent.

According to Gartner 80% of millennials want to spend part of their career abroad, forecasting that 48% of workers will be hybrid and fully remote by the end of 2023, with 39% working hybrid and 52% working on-site.

Hybrid working policy adoption can be divided into mandated office visits, rigid hybrid and flexible hybrid; each option drives different outcomes for employees and businesses.

Reports from EY state that 84% of employers believe that offering flexibility will positively impact their ability to recruit talent. Whilst business leaders battle over RTO, talent continues to flock to companies embracing global mobility. Talent no longer just requires the ability to work from home but wants to feel empowered to relocate across the world.

Speaking to industry leaders and innovators at Localyze’s ‘Beyond Borders’ event series, Hanna Asmussen (pictured above), CEO and co-founder of Localyze, explained that employees empowered to work anywhere in the world are investing back into their work and demonstrating higher levels of productivity and engagement.

As the talent pool becomes increasingly global, so do professionals’ needs, motivations and responsibilities outside of work. Whether it’s relocating to look after family or exploring a new country with work as a steppingstone, global mobility is no longer a nice perk; it’s a requirement for businesses to remain competitive.

The report revealed that, in the post-COVID era, the appetite for new travel experiences is on the rise and up-and-coming talents actively seek out employers who support their development. If these opportunities do not materialise, many change employers, costing companies much more than potential relocations.

Hanna also shared that companies are increasing their global hiring, and with this, the demand for technology like global mobility platforms is only going to increase.

According to Hanna: “Global mobility is an investment in a company’s most important asset: its people. Global mobility options boost job satisfaction and create opportunities for employees to further develop their careers. Our data shows that if leaders offer this desired flexibility, employee loyalty will increase and performance will improve. This is particularly crucial at a time when every market is experiencing talent shortages.”

Hanna concluded, “Global mobility is not just a luxury perk that businesses should only offer during times of prosperity, but a critical business enabler that can supercharge performance, profits, and culture when every advantage can make or break a company.

The future of work should not be confined to the office, our homes, or our countries. Global, mobile, and borderless businesses that invest in that vision will be the ones to achieve the most growth, be the most resilient, and retain the best talent.

Global mobility options enable organisations to balance employee retention and performance and should be a crucial offering to supercharge the future of work.”