04 Nov Global Mobility Talent Forecast: Many of Them are Millennials — and Women
As one of our earlier California Corporate Housing blogs points out, the global mobility landscape is fast being peopled by millennial hires. Many of these twenty-to-thirty something talents are eager to claim assignments abroad, seeing in them opportunities for learning and advancement. They also provide the unique experiences that many in their generation seek, and these postings are adventures that their more localized colleagues can only envy.
Women are emerging as global mobility assignees among this fresh new blood, yet they seem to be an untapped market. A PWC study shows that willingness to work overseas among millennial women is at an all-time high of 71 percent, but to date only 20 percent of them are actually stationed in foreign offices. Another dichotomy arises in the fact that 60 percent of multinational companies are turning to global mobility strategies to create a steady line of succession that will ensure continuity. Yet only 22 percent of them are actively targeting the development of female leaders, especially among the young.
Glass Hammer forecasts that a revolution will be taking place. One reason traditional recruiters do not actively hire women for overseas posts is their apprehension that these women either have families in their country of origin who they will eventually miss. Or, if single, they will eventually want to settle down and have their own. Yet this perspective is fast being debunked as global jobs are becoming gender-neutral, and women breadwinners show no hesitation about being assigned overseas. Modern technology like the Internet and Skype teleconferences have made the building of family relationships easier as compared to a decade ago.
Global mobility specialists who want to recruit this burgeoning sector of potential hires must discard past notions and keep in mind the following:
First, according to ATC, know where the parties who are most interested in working in the U.S. are located. Millennial women who are eager to explore greener pastures in this country can be found in China, Denmark, Hungary, and Colombia. Meanwhile, their colleagues in Japan, Hong Kong, and Vietnam may not be so inclined.
Second, the United States of America remains the number one preferred work destination of female assignees. Regions like Northern California attract heightened interest because of the diverse culture and the opportunities in the cutting-edge tech industries.That alone will increase the success of your recruiting pitch by 50 percent. The U.S. is followed by Canada, U.K., Australia, and France.
Third, women are far more willing to handle difficult work situations than men if it means advancing their careers or enhancing their standard of living in a foreign country. Male assignees may waffle if the country or region’s economic conditions, climate, and health environment are far from stable or structured, but lady assignees will take all these limitations and challenges in stride and cope, if it means a better paycheck and greater professional development in the long run.
Finally, if you want to have the women assignee of your choice sign the dotted line, your offer must carry at least a few of the following: a competitive salary, career opportunities that will allow upward mobility, a professional and stable working environment, substantial employee benefits like health insurance, and a corporate program that encourages work-life balance.