06 Dec Forces Shaping Global Mobility — and Why You Need to Keep Track of Them
A member-nation and one of the prime movers of the European Union decides to depart from it. A populist president that everybody predicted would lose will soon be sworn in as the Chief Executive of the United States of America. Nobody could have predicted these tremors that shook the world in 2016. And after they had transpired, everybody is left wondering as to what form the world they live in will soon take.
Still, nobody can turn back the clock. And despite the protectionist elements that are looming to possibly change the immigration rules and foreign relations policies, isolationism is not in the cards. Angela Merkel, Chancellor of Germany who has been facing a lot of pressure since allowing thousands of Syrian refugees to enter her country, has said that nations cannot return to a “pre-globalized” world. The internet, faster and more efficient mass transport, and movements of entire communities from one region to another are but a few reasons that have made the entire globe “interconnected.” There can be no turning back.
There are both leaders and impersonal forces that shape globalization or this interconnectedness in different eras. The Harvard Business Review actually points to two controversial figures: Genghis Kahn, whose Silk Road forged a bridge between the land masses of Europe and Asia; and Margaret Thatcher, whose laissez-faire capitalism and Britain-first mentality made her people and her neighbors take a good hard look at the pros and cons of globalization.
McKinsey and Co. names a few factors that continue to shape globalization, which in turn will impact global mobility and your work as a global mobility specialist to see to it that your organization remains robust during these hard times:
- Emerging markets. These rising countries with a huge and younger population will inevitably become the preferred market of many international companies which are looking for greater avenues for their products and services. They will also be the source of talent that is educated, highly motivated, and with lots of energy to spare. Developed countries, however, do not immediately seize on these opportunities because of genuine concerns about political instability, currency fluctuation, and breach of intellectual property. But this untapped market cannot be ignored or dismissed forever, and it is an impetus for globalization because it continues to attract or turn the head of even the most cautious conglomerate head in search of new opportunities.
What this means for you as a global mobility specialist: Emerging markets can be a source of talent for those who are willing to learn, who are open to instruction, and who are willing to try their fortunes in a developed world — and yet who may not command as high a salary as the traditional expatriate executive.
- The increasing role of government. Governments all over the worlds are taking the lead in buffering their economies. In light of recent events, this can be caused by their need to assure their public that their financial and political environments are safe and solid. At the same time, the national leadership in countries like Brazil and India are knocking on the doors of the most open countries in the quest for potential places where they can invest in.
What this means for you as a global mobility specialist: Political parties can rise or fall with the economy, and today’s popular leader can be tomorrow’s exile. As a global mobility specialist, probably the one area where you can find some measure of security to support your company’s efforts are with the government laws and principles themselves. Personalities may disappear, but if you understand the workings, cultural precepts, and mindset of the government infrastructure of the country you are dealing with, then you may have more maneuvering ground to act in.
- The global flow of goods and information: Management executives believe that this non-stop trade of capital and data will continue to spur innovation and make the people more aware of the product that they are buying. New products will be invented that will fit the customized requirements of the consumer. This trend drives globalization because the exchange will happen between nations, and not just between cities.
What this means for you as a global mobility specialist: With the world becoming a global village, you have access to a lot of information that can help you wisely allocate and use your resources. Talent recruitment is not the only benefit of international networking. You can gain knowledge of the industry’s best practices, insider tips on how to handle your assignees, and connect with various platforms that will help you find the best deals for services like relocation and accommodations. California Corporate Housing actively networks with global mobility specialists to show them the housing options they can avail of for their assignees, while maximizing the value of each dollar.