COVID19 has rapidly altered our immediate concerns on mobility, employment and Health & Safety in the workplace.
This will transform the way business leaders look at employee mobility and talent over the next 18-24 months.
Human resources leaders have a crucial role in this regard. HR professionals ensure the growth strategy for their business is executed effectively through the full capability of its people. As businesses emerge from COVID19, human resources leaders will be tasked with implementing against a backdrop of variability and ambiguity.
What trends can HR leaders expect to see in Talent Mobility?
Work-from-home (WFH) policies in response to the pandemic were hurriedly put in place by many organizations. This will spawn the emergence of Work Location Synthesis. With an eye towards the well-being of its employees, human resources leaders are advocating for blended formats around work location.
New Health & Safety Standards
Mobility between office locations and WFH with a focus on new health & safety standards around decontamination and workspace will require staggered schedules. Investment in enhanced sterilization deep-cleaning, ergonomics for WFH office space and PPE protocols need to be established and planned for now.
Relocation of employees is likely to shift from international to domestic. Economists agree that we will see a medium-term period of de-globalization. This will lead to a reduction in FDI (foreign direct investment) flows as well as immigration and employee movement internationally.
Growth Industries Will Emerge
Growth industries will emerge from the volatility of the recession. Labor instability is anticipated to bring about both surplus and shortage pools and will result in the redistribution of skills and workforce portability.
Domestic Commerce Prioritized
Global trade will continue, however, the transformation from Global to National Mobility Drivers means that commerce inside national borders will surpass international priorities for at least the next two years. International executive and employee relocations will slow while domestic relocations will experience a material upsurge as downsizing firms reallocate executives and growing firms move talent.
Read more about our relocation industry benchmark report on rebuilding after COVID-19 here.