Top Global Mobility Risk Mitigation Challenges for Corporate Relocation
International assignments are integral components of many companies’ global growth strategies, but with such global growth comes risks that can keep corporate mobility managers up at night.
A Dynamic Global Mobility Landscape
The landscape of global mobility risk is complex and filled with potential potholes on the road to an employee’s successful international assignment. Political instability, security concerns, and/or health and safety issues are some of the top challenges employees and their sponsoring employers may face.
Addressing issues surrounding corporate global relocation risks requires a proactive, honest, and detail-oriented approach. It is critical corporate managers overseeing employee international assignments are knowledgeable and empowered from within and form close, collaborative partnerships with experts. This will help them navigate hazards with confidence and ensure the well-being of their employees and the duty of care obligations of their employers sending them.
Consider the top risks and ways to mitigate them:
Security
Terrorism, crime, geopolitical tensions –each pose unforeseeable dangers. Progressive companies will implement comprehensive security assessments and threat analysis to identify vulnerabilities and develop targeted risk mitigation strategies. Employee training on situational awareness, personal safety protocols, and emergency response procedures should be conducted. For clients, leveraging cutting-edge technologies such as online dashboard “heat maps” to show company employee / business travel assignment locations and cybersecurity protocols enhances online security to monitor and respond to potential threats in real-time.
Political Instability
To address political instability, global mobility managers must see the importance of staying ahead of political risks. They build networks of local partnerships and leverage geopolitical experts to gain valuable insights into the countries and regions where employees are assigned. By developing crisis contingency plans and protocols, they can respond quickly to political shifts, ensuring the safety of employees and the continuity of operations.
Health and Safety
Pandemics, natural disasters, employee medical conditions, on-assignment emergencies and more demand meticulous preparation. Proactive risk management involves developing crisis response plans, integrating remote monitoring systems, and ensuring access to telemedicine. By conducting pre-assignment medical assessments, organizations can identify any pre-existing health conditions and provide continued, appropriate on-going assignment support and resources. There are also options available for medical insurance coverage to consider such as:
- Employer-sponsored health insurance: comprehensive plans for employees provided with employment; covering medical expenses. Includes check-ups, emergencies, hospitalization, and dental/vision.
- International private health insurance: individual plans for global medical expenses; covering inpatient and outpatient services, emergencies, and medical repatriation.
- Travel insurance: May provide limited coverage for emergencies, accidents, and medical repatriation, but there is usually a limit for travel insurance policies and how long one can be living in a foreign location; companies should understand all policy limitations.
Crisis response and emergency evacuation plans are often overlooked in the overall planning of a move, but doing so is essential. Doing so during a crisis is not the time.
Regularly monitoring and checking in on employees’ well-being on assignment – regardless of their location – is also best practice and NEI regularly checks in with employees during their assignments for clients.
Collaborative Relocation Services Partnerships
By forging strong, mutually supportive partnerships with NEI Global Relocation, risk consultants, expert global security firms, global emergency evacuation companies, as well as local authorities, companies will gain access to invaluable expertise and worldwide resources.
Sharing best practices through industry collaborations and information-sharing networks further strengthens risk management efforts. Engaging in 24/7 open lines of communication with employees creates a culture of safety and empowers employees to be active contributors in risk mitigation.
Collaborative partnerships also foster a sense of mutual support and shared objectives among global mobility stakeholders. By combining resources, knowledge, and expertise, companies can effectively address complexities surrounding global mobility risks and strengthen both their operations resilience and the well-being of their employees during a global assignment on the company’s behalf.
Global Relocation Duty of Care Responsibility
As organizations expand around the world and send employees to locations for permanent work or temporary projects, each employer has an obligation to safeguard their mobile workforce. The Duty of Care concept includes a legal, ethical and moral obligation to reduce risk and provide the elements for a safe environment for employees during their global relocations or assignments.
By prioritizing Duty of Care, companies can demonstrate their commitment to not only individual employee / family welfare, but a commitment to conducting thorough risk assessments, implementing proactive security measures and developing robust health and safety protocols. Integrating Duty of Care principles and strategies into risk mitigation strategies, companies can foster a culture of employee safety and well-being.
Transform Risk into Opportunity
NEI believes risk management is essential for protecting both employee and company interests and for navigating the complexities of global mobility.
Organizations can transform risks into opportunities for growth, innovation, and sustainable success. By embracing risk management and mitigation practices, HR professionals can steer through the various, fluid challenges of international moves and assignments with confidence and help ensure the success of their organizations’ goals and projects.
If you would like to discuss policy change, risk mitigations or duty of care or any other topic impacting your global relocation programs, please reach out to your NEI representative.
Top Global Mobility Risk Mitigation Challenges for Corporate Relocation
International assignments are integral components of many companies’ global growth strategies, but with such global growth comes risks that can keep corporate mobility managers up at night.
A Dynamic Global Mobility Landscape
The landscape of global mobility risk is complex and filled with potential potholes on the road to an employee’s successful international assignment. Political instability, security concerns, and/or health and safety issues are some of the top challenges employees and their sponsoring employers may face.
Addressing issues surrounding corporate global relocation risks requires a proactive, honest, and detail-oriented approach. It is critical corporate managers overseeing employee international assignments are knowledgeable and empowered from within and form close, collaborative partnerships with experts. This will help them navigate hazards with confidence and ensure the well-being of their employees and the duty of care obligations of their employers sending them.
Consider the top risks and ways to mitigate them:
Security
Terrorism, crime, geopolitical tensions –each pose unforeseeable dangers. Progressive companies will implement comprehensive security assessments and threat analysis to identify vulnerabilities and develop targeted risk mitigation strategies. Employee training on situational awareness, personal safety protocols, and emergency response procedures should be conducted. For clients, leveraging cutting-edge technologies such as online dashboard “heat maps” to show company employee / business travel assignment locations and cybersecurity protocols enhances online security to monitor and respond to potential threats in real-time.
Political Instability
To address political instability, global mobility managers must see the importance of staying ahead of political risks. They build networks of local partnerships and leverage geopolitical experts to gain valuable insights into the countries and regions where employees are assigned. By developing crisis contingency plans and protocols, they can respond quickly to political shifts, ensuring the safety of employees and the continuity of operations.
Health and Safety
Pandemics, natural disasters, employee medical conditions, on-assignment emergencies and more demand meticulous preparation. Proactive risk management involves developing crisis response plans, integrating remote monitoring systems, and ensuring access to telemedicine. By conducting pre-assignment medical assessments, organizations can identify any pre-existing health conditions and provide continued, appropriate on-going assignment support and resources. There are also options available for medical insurance coverage to consider such as:
- Employer-sponsored health insurance: comprehensive plans for employees provided with employment; covering medical expenses. Includes check-ups, emergencies, hospitalization, and dental/vision.
- International private health insurance: individual plans for global medical expenses; covering inpatient and outpatient services, emergencies, and medical repatriation.
- Travel insurance: May provide limited coverage for emergencies, accidents, and medical repatriation, but there is usually a limit for travel insurance policies and how long one can be living in a foreign location; companies should understand all policy limitations.
Crisis response and emergency evacuation plans are often overlooked in the overall planning of a move, but doing so is essential. Doing so during a crisis is not the time.
Regularly monitoring and checking in on employees’ well-being on assignment – regardless of their location – is also best practice and NEI regularly checks in with employees during their assignments for clients.
Collaborative Relocation Services Partnerships
By forging strong, mutually supportive partnerships with NEI Global Relocation, risk consultants, expert global security firms, global emergency evacuation companies, as well as local authorities, companies will gain access to invaluable expertise and worldwide resources.
Sharing best practices through industry collaborations and information-sharing networks further strengthens risk management efforts. Engaging in 24/7 open lines of communication with employees creates a culture of safety and empowers employees to be active contributors in risk mitigation.
Collaborative partnerships also foster a sense of mutual support and shared objectives among global mobility stakeholders. By combining resources, knowledge, and expertise, companies can effectively address complexities surrounding global mobility risks and strengthen both their operations resilience and the well-being of their employees during a global assignment on the company’s behalf.
Global Relocation Duty of Care Responsibility
As organizations expand around the world and send employees to locations for permanent work or temporary projects, each employer has an obligation to safeguard their mobile workforce. The Duty of Care concept includes a legal, ethical and moral obligation to reduce risk and provide the elements for a safe environment for employees during their global relocations or assignments.
By prioritizing Duty of Care, companies can demonstrate their commitment to not only individual employee / family welfare, but a commitment to conducting thorough risk assessments, implementing proactive security measures and developing robust health and safety protocols. Integrating Duty of Care principles and strategies into risk mitigation strategies, companies can foster a culture of employee safety and well-being.
Transform Risk into Opportunity
NEI believes risk management is essential for protecting both employee and company interests and for navigating the complexities of global mobility.
Organizations can transform risks into opportunities for growth, innovation, and sustainable success. By embracing risk management and mitigation practices, HR professionals can steer through the various, fluid challenges of international moves and assignments with confidence and help ensure the success of their organizations’ goals and projects.
If you would like to discuss policy change, risk mitigations or duty of care or any other topic impacting your global relocation programs, please reach out to your NEI representative.
