Managing Relocation on a Tightening Budget
Posted by: Kenneth Kwek, Managing Director, Asia-Pacific
As mobility teams continue to face ever-tightening budgets, what can companies do to make sure that every dollar counts when implementing their relocation programs? It’s a question raised by many of our clients and one I recently addressed in an article, Mobility on a Shoestring in HRM Asia magazine, a leading publication for HR professionals in the Asia-Pacific region.
In today’s new business environment, the majority of companies have already undergone years of cost saving initiatives. Certainly, compensation and benefits is one area that they have already cut back on for most, if not all, of their international assignees. So, now that those gains have been realized, where else can we look to reduce cost?
Understanding the Inputs and Outputs of Your Mobility Program
A thorough understanding of the inputs and outputs of your mobility program is key to stretching your budget further. In the HRM Asia article, I shared that companies that make the most significant savings over time look at every aspect of their mobility program and do this on a continuous basis. If you don’t have a strong sense of the objectives for each of your international assignments, it’s impossible to allocate resources effectively.
Don’t Underestimate the Little Things
Of course, in addition to looking at the bigger picture, we shouldn’t neglect to review program components like housing, household goods shipments, schooling and language training. For example, we’re seeing online language training classes fast-becoming a viable option. Having improved in quality over the years, virtual training offers assignees and their families both flexibility and strong learning outcomes.
Find Out More
Read the HRM Asia article for useful recommendations relocation professionals can use to implement cost saving initiatives. Or, for more information on other aspects of global mobility, check out our Resource Hub on Cartus.com.