Malte Zeeck, Founder and Co-CEO of InterNations, spoke at the XING Feel@Home event in Zurich, about the importance of supporting international hires throughout the relocation process, and the impact that employee happiness has on the retention of international talent.
As the global war for talent continues to intensify, hard-to-source employees and difficult-to-fill vacancies are just part of the job description for HR professionals. Employers are increasingly having to look beyond borders in order to source their talent, a process which comes with a heavy price-tag.
Despite this ever-increasing trend of sourcing talent from abroad, many companies still struggle with the retention of their international hires. While international hiring is a costly process for companies, losing international talent foots an even heftier bill.
The Expat Insider 2018 Business Edition, a report based on the 2018Expat Insidersurvey with 18,135 respondents, looked at international hires and foreign assignees — what aspects of relocation support they receive from their employer, and how happy they are with life abroad.
When comparing the two expat types, the differences are significant. Although faced with the same challenges, international hires consistently receive less relocation support from their employer, and are generally unhappier with life abroad. The primary contributors to their unhappiness? A lack of socializing opportunities and the absence of a personal support network in their new location.
These findings should prompt employers to question: How can their international hires be better supported throughout the relocation and onboarding process, and what impact could this have on the retention of their international talent?