Back in October, we organized several panels with Global Mobility experts and uncovered key trends that could reshape the workforce in 2024. If you missed these panels, make sure to check them out here!
In this blog, we'll share the critical predictions and takeaways from industry specialists and how your company can prepare for the upcoming shifts.
Key points include:
- Flexible global policies
- More focus on compliance
- Rising demand for short-term nomad visas
- Cost pressures: an opportunity, or a challenge
Flexible global policies
At Beyond Borders Berlin, we spoke with Reece Procter, Global Mobility Lead at HR software company Personio, about how 2024 could present a barrage of long-term legislative changes. To prepare in good time and keep policies equitable to all employees, Reece stressed the importance of a flexible and fit-to-culture approach.
For instance, Personio offers an international work model called PersonioFlex that enables employees to work across multiple countries. It offers flexible options based on employee preferences and lifestyles, and this flexibility could be key for the company to stay abreast of legislative changes across different countries.
To add to that, PersonioFlex has benefitted over 1,000 employees in over 6,000 operational days. According to Reece, prioritizing global mobilization policies could improve outcomes in staff retention and overall culture.
Reece also believed that companies should strategically present Global Mobility as a priority in CEO agendas. For instance, your team can highlight a hiring challenge to the board and senior leadership that a relocation program could solve. Promptly filling the vacancy with a qualified relocated talent directs the CEO's attention to the value and benefits of a well-established Global Mobility strategy, raising the chances of more leadership buy-in and resources for 2024.
More focus on global compliance
Germany remains one of the most popular destinations for talent relocating to Europe. We spoke with three relocation leaders based in Berlin to uncover their insights on changing Global Mobility trends, particularly around policies: Lorna Ather, Global Mobility Manager at Delivery Hero; Michali Henig, Head of Global Mobility at HelloFresh; and Donald Jurries, Benefits Management and Global Mobility & Immigration - Europe & Asia at Wayfair.
All agreed that a rising number of companies will recognize the importance of balancing business policies with Global Mobility processes in 2024. But as companies adapt to the new economy and employment standards, leaders must inevitably ensure global compliance. The key to achieving that? Your knowledge.
Michali shared, “Our expertise in Global Mobility is going to be a gatekeeper, a better gatekeeper for organizations in terms of how we make reasonable decisions.”
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Rising demand for short-term nomad visas
Global Mobility specialists in London shared that more companies have started accepting short-term work relocations, digital nomad visas, and permits. These could eventually match and overtake the popularity of company-sponsored visas in 2024 and beyond. The trending practice enables talent to continue traveling and working internationally without requiring employers to sponsor multiple types of visas.
Although taxation remains an issue for governments with workations (since countries cannot tax workers under these arrangements), companies have become more accepting of short-term corporate relocation. Sally Flaxman, Head of Global Mobility at Remote, an employer of record, believes that more countries should start lobbying for short-term nomad visas since these workations would ultimately improve a country's economy in ways other than taxation.
As with the panel in Germany, the Global Mobility experts interviewed in London believe that more companies could see compliance as a priority in 2024. The rise in employee-led relocations would require more stringent compliance practices to monitor, validate, and track the unique journey of every employee.
Cost pressures: an opportunity, or a challenge
Our discussion with industry experts in Amsterdam revealed Global Mobility as a potential long-term solution for mitigating cost pressures from an uncertain economy. Colette Sloet tot Everlo, People Operations Specialist at Otrium, an online fashion outlet store, believes 2024 could bring a greater need for corporate relocation teams to justify their budgets with top management in response to lingering cost pressures. However, while Colette believes that relocations might come under pressure, global working could prove a cost-effective way to offer flexibility that sources critical talent and keeps it engaged.
“Working from abroad is a relatively cheap perk, but a perk that people really love. If you trust your people that they can do the job from abroad, it's a cheap way to offer a certain flexibility.”
Giuseppe Lacerenza, an investor and operator originally from Italy who relocated to the Netherlands, recognized the importance of rethinking talent strategy. Giuseppe believes that in 2024, more companies should consider international talent pools and the cost benefits of investing in Global Mobility.
Prepare for 2024 with Localyze
At Localyze, we believe talent should be free to move and work internationally, free of bureaucracy. We help you achieve a seamless Global Mobility process through frictionless technology, transparent communications, and dedicated services to guide your team and talent through the most challenging shifts of 2024 and beyond.
Book a demo with Localyze today to discover the most cost-effective relocation strategies tailored to your team.