Talent Mobility and the Millennial Generation

In today’s highly globalised world, workers around the world are constantly seeking opportunities to relocate in order to develop their careers. Companies are also investing in moving their talent to other locations. This is known as ‘Talent Mobility’. Simply put, Talent Mobility is the movement of talent to where it is needed the most. It is about making the pivotal talent a corporate asset and making it available for the most critical business initiatives while taking into account the career interests of the employee. Talent Mobility is a strategic initiative that helps companies to optimally leverage their organisational talent pool to fuel business growth. It enables organisations to help build skills in the areas that matter most to their business organisations. 

In 2010, PwC released a report, ‘Talent Mobility: 2020 – The next generation of international assignments. This report was based on trend data regarding international assignments for 900 companies, population data and the opinions of both, CEOs and workers around the world. The study revealed that over the coming years, businesses will have an increasing need to deploy their talent across the world. Not only will the number of international assignments increase, but the general spread of assignments throughout the globe will also show a significant increase, with there being a greater emphasis on new and emerging markets.

The report states the business world is in the midst of fundamental change and in the next decade, the ability of organisations to manage their global talent efficiently will mark the difference between success and failure. According to the report, we are living in a world where the best and brightest talent are prepared to follow their own agenda and opportunities, wherever they may be, irrespective of who is offering them.

While enough is being written about Talent Mobility and how it benefits organisations, I feel the need to explore this topic from employees’ perspective, especially the millennial generation. In this piece, I will discuss the importance of international assignments for millennials – the newest entrants in the workforce.

With training and development fast becoming one of the most valued employer benefits, millennials regard international assignments as a crucial part of their personal development. Opportunities that come in early on in the career are favourable, since this is when employees have fewer responsibilities and have the capacity to move out for work purposes. According to PwC’s report, “The millennial generation is leading the way and many employers have already modified their global talent strategy specifically to appeal to this growing section of the workforce. Some organisations are offering international experience to new recruits straight out of college, and one company PwC is working with has tailored its international assignment strategy to millennials by making overseas’ assignments available earlier, before they have family ties, and for shorter periods.” 

A formal international assignments programme / policy results in a win-win situation, both for employees, as well as their employers. Employees benefit by gaining international experience, growing personally and professionally, thus enhancing promotion aspects. This is where employees get their maximum career acceleration. Employers, on the other hand benefit by expanding the distribution of knowledge and skills and promoting global culture.

The report further states, “The opportunity to travel and gather new skills and experience is a strong incentive for this generation and many employers are harnessing in their efforts to attract and retain the best. Millennials have a strong appetite for working abroad; 71% of those questioned at the end of 2011 said they wanted, and expected, an overseas assignment during their career”.

According to the Ministry for Overseas Indian Affairs’ annual report of 2012-13, more than 28 million Indians live and work abroad, and that number looks set to rise even further. So, why this rise? The world has become more accessible – with advancement in technology and the way we travel – millennials are keen on cashing in on this opportunity. As compared to previous generations, millennials are considered to be more flexible about moving out – wherever they see a better opportunity.

Given the increasing emphasis on studying the Liberal Arts, millennials from emerging markets feel opportunities abroad help them find roles that are more meaningful and a better match to their area of study or interest. 

The millennial generation gives more importance to fulfilment and happiness, thus giving higher importance to work-life integration. To help in this, they are willing to hop jobs at greater frequency and are ready to try out different roles and workplaces, while enhancing their knowledge and gaining more skills. Working abroad offers a diversity of opportunities that lets employees experiment to find the right skills required to jumpstart a successful career. The graph below highlights the number of employers millennials are ready to have in their careers.

It has often been said the millennial generation is the most privileged generation because they grew up in a period of rapid technological advancement. Given the ease in travelling around, many have already travelled around the world during their growing up years, thus giving them a glimpse into other cultures. After entering the workforce, these groups of people are only too happy to take up assignments in other locations, which give them the opportunity to further explore other cultures.   

An opportunity for an international assignment, especially to the company’s headquarters, brings employees closer to heads of businesses, thus giving them a deeper insight into the company’s vision. This is especially motivating for someone who has entered the workforce recently.

As someone who has recently entered the workforce, these individuals are still finding their feet. An international assignment at this stage helps them understand the workings of the business world and also opens up more avenues for them, in turn helping them understand their true calling. 

A long term international assignment is often favourable for employees across the globe. As a standard operating procedure, companies have well defined travel policies. Employees travelling on long term assignments receive allowances in addition to their regular salaries. This allows employees to save better, which helps them build their future.      

It is becoming increasingly evident, Talent Mobility, or more specifically, Global Mobility, is a strategic initiative that organisations cannot ignore. A clearly designed global mobility programme can capitalise on the skills that employees gain on the job through training and experience, thus increasing employees’ value to the organisation as well as in the marketplace. On the other hand, employees have a chance for a new role within their existing jobs, which will ensure they stay challenged, engaged and committed.