Money is a commodity which will invariably be in short supply. As mobility teams continue to face ever-tightening budgets, what can companies do to make sure that every rupee spent on the relocation program counts? It’s a question raised by many of our clients.
In today’s new business environment, most 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 and reported in quarterly business reviews with much fanfare, 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. 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
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.
If you work in the global mobility space, do hit up on the comments below, what cost saving have you brought about, we would love to hear from you, and maybe feature your companies efforts in a series of blogs.