Short-Term Expat Assignments On The Rise

expat network

Short-Term Expat Assignments On The Rise

A majority of multinational companies expect to increase their use of short-term assignments for expat staff in 2016, according to consultants Mercer. Over the next year or so, around half of companies anticipate an increase in the use of permanent transfers, developmental and training assignments and locally-hired foreigners. A smaller proportion expect to see an increase in more traditional long-term assignments.

Mercer’s Worldwide Survey of International Assignment Policies and Practices report covers 831 multinational companies with approximately 29 million employees combined. It found that over half of companies increased their use of short-term and permanent assignments over the past two years – whereas only 43% increased the use of long-term assignments.

The top five drivers behind international assignments are; to ‘provide specific technical skills not available locally’, to ensure ‘know-how transfer’, to provide ‘specific managerial skills’, to facilitate ‘career management and leadership development’ and fulfil ‘specific project needs’.

In the future, 57% of companies expect the number of key or strategic assignments to increase, 51% expect to deploy a higher number of younger assignees and 41% anticipate more assignments to remote locations. Companies reported the highest expected increase in assignments to be deployed to US, China, UK, Singapore and Brazil.

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.