In the past, the ex- and repatriation of domestic talent can been seen as a loss to the economy. The so-called “brain drain” caused by the outsourcing of skilled talent to first-world and developing nations overseas supposedly reduced the stock of talent for American corporations.
However, in today’s global economy, the mobilization of talent can be a boon to employers as well as their employees. The emergence of competitive economics overseas—especially in BRIC (Brazil, Russia, India and China) countries, as well as the UAE and Qatar—creates a huge potential for overseas cultivation of domestic talent that can furnish unprecedented growth opportunities.
Benefits For Employers
Strong professional talent is one of the most coveted resources in any industry. So it should come as no surprise that most Fortune 500 companies will go to great lengths to keep important executives happy with their contracts. But what are the benefits for sending then away?
For one thing, multination corporations with outposts overseas can help to solidify their foreign markets by mobilizing up and coming talent at home. Acting as ambassadors from their flagship offices, they can help address talent shortages, close skill gaps, and accelerate business growth.
Benefits For Employees
Some of the personal benefits to individuals may seem obvious. Moving overseas for work can be a great opportunity to see the world and learn about new cultures. Lower cost of living in certain nations can also boost your spending power.
But with mounting globalization accelerating every year, there are added career advantages to working overseas. Language acquisition, networking opportunities, and even simply overseas experience will all be huge assets for rising executives in the coming decades.
Global Mobility For Your Talent
Efficiently mobilizing talent overseas is a complex endeavor that requires access to supply chains and overseas freight transport, negotiation of foreign laws and immigration policies, as well as compliance oversight, cultural training, and more. If your business is considering implementing a mobility program in your business, you need a partner who can help you save money and retain the talent you are investing in.
At NWI, we work closely with your business to customize the global mobility plan that is right for your needs. With 40+ years of collective experience, our team has forged strong relationships with businesses and supply chain service providers based on trust and excellence. Read more about our services here.