Month: April 2020

Categories
Domestic Relocation Domestic Relocation Challenges Global Mobility Global Relocation Global Relocation Challenges Global Relocation Tips Visas and International Travel

Best Travel Tools for Relocation Programs

Business meeting on the train

Companies should incorporate the best travel tools into their corporate relocation programs. Global Mobility Solutions’ industry benchmarking study shows that only 23% of Relocation Management Companies (RMCs) provide any form of travel tools. GMS is a leader in the relocation industry on this point, providing a full range of useful resources for transferees.

Industry Benchmarking Studies Highlight Best Travel Tools

GMS has recently published several Industry Benchmarking Studies to help companies learn whether their company’s relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking. For example, companies can learn whether their relocation program offers the best travel tools as compared to those offered by competitors in their specific industry.

The relocation industry’s best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. This review will also help your company learn about the relocation industry’s many solutions to meet ever-increasing client requirements and employee needs.

Five Best Travel Tools for Relocation Programs

There are five best travel tools for relocation programs. All of these tools can be designed to work seamlessly with each client’s travel policy and relocation programs:

1. Compliance to Company Travel Policy

An online travel tool quickly and easily communicates guidelines to employees. Best travel tools for compliance also show specific features and options for each client’s policy. Limits that match policy guidelines should also be shown, to help employees choose the most appropriate options.

2. Tracking Travelers (GPS)

Tracking employee travel is important for several reasons. Companies need to ensure the safety of employees during their travels, so knowing where they are at any given time is extremely valuable. Also, companies need to track the number of days-in-country for reporting requirements.

3. Compliance for Entry, Re-entry, and Taxes

Companies need to track the number of days an employee stays within a country for reporting requirements that may relate to tax issues, or specific work permits. Also, countries may have specific entry/re-entry requirements.

4. Best Travel Tools Bill Direct to Client, or to GMS

Many companies appreciate the option of direct billing. Billing travel costs directly to the client, or to GMS with no markup back to the client, has many benefits:

  • Paperwork reduction
  • Administrative cost reduction
  • Simplified processes
  • Employees don’t need to submit for reimbursements
  • Itemized invoices show all travel expenses

5. Custom Reporting Options

Comprehensive reports that show every element of travel and costs are helpful to clients for managing travel budgets and programs. Reports that are customizable can help measure program effectiveness and readily highlight areas that are out of compliance.

How Can Companies Learn About the Best Travel Tools?

Companies should review their current travel policy and relocation program to determine if they are using the best travel tools. RMCs with expertise and experience in travel policies for relocation programs are a valuable resource for policy reviews. Companies should schedule a policy review on a regular basis to learn about the latest features to streamline and enhance reporting and compliance requirements.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients benchmark their relocation program and incorporate the best travel tools into their business travel policy. Our team can help your company understand how to provide the best travel tools for your traveling employees.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn how to incorporate the best travel tools into your company’s relocation program. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Business Services Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Global Mobility Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends

Travel Guidance: Staying Ahead of the Curve

A multi-generation African-American family sitting together on a park bench on a sunny autumn day. A 10 year old boy is hanging out with his father and his great grandfather.

In the midst of urgent travel guidance from the United States, federal agencies, and other nations, employers should practice due diligence in assisting their employees on assignment. The U.S. Department of State has issued a Global Level 4 Health Advisory: Do Not Travel. Even within the United States, additional travel restrictions are arising. For example, the state of Texas has implemented travel restrictions on those who want to enter the state. Several other locations may be considering local restrictions. Many US cities have “shelter-in-place” mandates aiming to protect citizens most at risk during the COVID-19 pandemic.

Employees on Assignment During Travel Guidance

Worldwide ERC® reports that over 13,500 US citizens have requested assistance from the State Department to return to the United States. Such assistance is becoming extremely challenging as airlines reduce their number of flights, and other nations close their borders to travel. Major regions such as the European Union are developing plans to restrict non-essential travel from other countries.

For employers that have employees on assignment in other nations, support and communication are critical. It is possible that some employees may need to remain in place for an extended period of time. Employers should be sure to inform employees on all aspects of their situation. They should also provide as much support as possible, so the employees and their family members can have peace of mind.

Relocation Management Company Resources for Global Assignees

Relocation Management Companies (RMCs) have a wealth of knowledge, experience, and resources to provide assistance for global assignees. GMS recently shared information with its clients to cover many of the issues surrounding travel guidance and how to provide support for global assignees.

Important Points for Employers to Consider for Global Assignees Include:

  • Extending temporary housing for those employees on global assignment who need extra time to determine how to repatriate to their country of origin
  • Extending relocation benefits to allow for more than one year
  • Many clients have initiated a global assignment but are asking their employees to work at the home location for the time being. Clients need to be thoughtful about how this may impact visa and taxation issues. GMS recommends clients consult their tax and immigration provider for support
  • Approving additional tenancy management, home maintenance, and grocery delivery when necessary
  • Since almost all business travel has been restricted, restrict all home leave trips for global assignments as well
  • Due to travel guidance restrictions, offer virtual services such as destination support and settling in services, immigration assessments, and visa country spotlights

What Does This Mean?

During the COVID-19 pandemic, travel guidance is constantly changing. Employers may have global assignees impacted in several ways by various restrictions, border closures, and reduced means of transport. As a result, employers should work to ensure continual and up-to-date communications with employees on global assignment. They should also consider revising several aspects of their relocation and travel policies to ensure employees receive as much support as possible as they try to navigate changing travel guidance, restrictions, and closures.

What Should Employers Do About Travel Guidance?

Employers with global assignees impacted by travel guidance, restrictions on movement, and other issues impacting their mobility should speak with an experienced and knowledgeable RMC. RMCs with established local presences and vast networks of top providers offer valuable insight into how best to communicate issues and resolve difficult situations. They can also provide the necessary resources and support for employees and their family members. Experienced RMCs will be able to offer technology and resources directly, locally, and even virtually as each individual situation requires.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to respond to changing travel guidance, border closures, and other issues and restrictions affecting global workforce mobility. Our team can help your company understand how to assist global assignees with virtually any relocation issue. As a result, this will help them and their family members have peace of mind, and be able to focus on their assignments.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to learn more about how our company can help your global assignees during times of continually changing travel guidance and other restrictions, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Global Mobility Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends United States Economy

Vehicle Program for Foreign Nationals Relocating to the United States

Happy man receiving keys for his new car in a showroom.

Global Mobility Solutions’ clients often have transferees relocating to the United States who can use a vehicle program to obtain a car. Arriving from outside the country, foreign nationals quickly realize they need a vehicle after their arrival. Many international locations have extensive public transportation options. Most US cities lack extensive inter-city rail options, and often do not have robust local bus or light rail service throughout the metropolitan area, so transferees need a car.

A significant hurdle these transferees face is that they often do not have established credit in the US. As a result, they will not have a credit profile that lenders can use to determine their creditworthiness.

GMS spoke with Afia Arneja, Senior Vice President, International AutoSource (IAS). Afia agreed to share her expert guidance on this topic.

Challenges of Getting a Car in the US for International Assignees

According to Afia, many transferees moving to the US are not prepared for the challenges they will face when it comes to getting a car. Having a solution for their transportation is low on their list of priorities. However, upon arrival, these transferees suddenly understand the urgency of having a vehicle in this country with its large cities and wide suburban areas.

Biggest Obstacles That a Vehicle Program Helps Transferees Overcome

1: Lack of Credit History

Afia notes that many transferees are unaware that their overseas credit history doesn’t transfer with them to the US. If they are new to the US they will have to establish a credit history to obtain a loan for a new car. Some banks or financial institutions may offer a solution, but that comes at a cost in high-interest rates. These high rates are how these institutions offset their credit risk with the transferee.   IAS recognized this issue very early on. Serving the transferee community for over 20 years, IAS built unique programs by leveraging their manufacturer relationships. IAS also provides finance and lease options for transferees. These options are much more reasonable than those offered by banks and financial institutions.

2: No Access to International Driver History and Records

Similar to credit history, driving records do not transfer to the US. Unfortunately for transferees, Afia says this means that most insurance companies will consider transferees as new drivers. As a result, these insurance companies will charge them a premium for auto insurance. IAS is a full-service vehicle program provider that has partnerships with leading auto insurance companies to solve this problem for their customers. As a result, IAS can provide reasonable auto insurance rates with no penalties for not having a US driving history.

3: Confusing Car Buying Options Compared to Easy to Use and Easy to Understand IAS Vehicle Program

Upon arrival in the US, transferees are exposed to many car-buying solutions. Navigating through the overwhelming number of dealers and buying services that promise the “best deal” can be daunting.   Afia notes that IAS created a vehicle program to protect transferees from overpaying for their automobile. IAS has pre-negotiated prices with manufacturers that provide factory-direct access and cut out the middleman. Without having to work through a dealer, transferees receive competitive prices and avoid all the hassles of negotiation.

4: Driving Options

Transferees need to identify the right solution for their transportation needs. Afia believes this starts with determining the length of stay in the US. Many transferees need expert guidance to help them find the right option for their situation. The IAS vehicle program provides products that fit any situation.

For assignments less than 12 months, ReadyDrive Rental is a long-term rental program that offers competitive rates. Often these rates are lower than most corporate rates available with insurance coverage included.

For 2-3 year assignments, there are lease products available. These products take the hassle of selling the car at the end of the job out of the equation. Financing options are also available for those planning to stay longer than 3 years.

Important Points to Note on Working with IAS to Obtain a Vehicle for a Foreign National

  1. IAS does not require a local credit history to help transferees obtain a vehicle. However, an important point to note is that buying or leasing a vehicle is extremely helpful for a foreign national to start building credit in the US.
  2. IAS is able to connect with partners to obtain competitive insurance rates for the transferee. Of particular importance is that IAS can do this even if the transferee does not have a local driving record.

What Does This Vehicle Program Solution Mean?

Foreign national transferees who want to obtain a car in the US have multiple solutions with the IAS vehicle program. Even if the transferee does not have credit in the US or a local driving record, IAS can provide a solution for their needs. Solutions might include buying, leasing, or renting a vehicle.

What Should Employers do About a Vehicle Program?

Employers with foreign national transferees who want a vehicle in the US should review the various options offered through the IAS vehicle program. Relocation Management Companies with knowledge and experience can provide guidance on industry-leading solutions such as those offered by IAS. Employers should also review their relocation policies to determine if enhancements are necessary. Adjustments to policies can be made to further assist foreign national transferees who want to use the IAS vehicle program.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how to communicate to foreign national transferees any issues related to obtaining a vehicle in the US. Our team can help your company understand how to proceed by providing guidance on how to help transferees obtain a car through the IAS vehicle program.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to discuss your company’s need to help foreign national transferees learn about the IAS vehicle program in the US, or give us a call at 800.617.1904 or 480.922.0700 today.

Categories
Domestic Relocation Challenges Domestic Relocation Tips Household Goods Relocation Challenges

Ensuring a Safe Household Goods Move During COVID-19

The young Family is enjoying their new Home

If you need to schedule a household goods (HHG) move during COVID-19, you are not alone. Millions of people move every year, and the month of May is often the start of the busy moving season. In fact, May is “National Moving Month,” and the month of June is usually the busiest month for people who want to move. People who have sold their home, purchased a new one, or are moving into a new apartment during this time may not know how the current pandemic will impact their plans.

The American Moving & Storage Association (AMSA) has issued guidance for consumers to ensure safety for all involved in the moving process. Moving companies such as North American Moving Services have issued specific COVID-19 Business Continuity Plans to help everyone to remain safe during this global pandemic.

AMSA Guidance for Consumers who Move During COVID-19

For consumers who will move during COVID-19, the following guidance provides clear direction. It also includes easy steps to take to ensure everyone’s safety throughout the entire process.

  • Communication is important for everyone
    • If anyone in your home is isolating or under quarantine, call immediately to reschedule
  • Avoid the natural tendency to shake hands when you greet the moving team
    • Smile, greet warmly, and then give proper social distancing
  • Provide direct access to sinks, water, soap, paper towels, hand sanitizer, and trash bins
    • Moving teams should have additional supplies if needed
  • Always use fresh supplies of packing materials
    • Rolls of tape, packing papers, shipping and storage boxes, and any other supplies

What Does This Mean for Your Move During COVID-19?

Many GMS clients have employees, new hires, and transferees in various stages of their HHG move during COVID-19. These services are often considered essential, and people may have no other choice but to proceed with their scheduled move.

We Can Get Through This!

GMS knows this is a difficult time for everyone. However, we can and we will all get through this together. We need to focus on doing the right thing every time. Following AMSA guidance to ensure a safe HHG move during COVID-19 will provide peace of mind for the moving team and those who are moving.

What Should Employers do for Employees who Move During COVID-19?

Employers should share as much information with their employees, new hires, and transferees about how they can arrange a safe move during COVID-19 as possible. The AMSA guidance for arranging a safe move should be shared, along with any other information that may be helpful such as how they can create a video survey for their household goods prior to the move.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to share helpful information with employees, new hires, and transferees on their HHG moving process. Our team can help your company understand how to incorporate the AMSA guidance on arranging a safe HHG move during COVID-19 into your relocation program.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to learn more about how your company can communicate the AMSA guidance on arranging a safe HHG move during COVID-19, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Global Mobility Global Relocation Global Relocation Tips Global Relocation Trends Relocation Best Practices Relocation Challenges Relocation Programs United States Economy Visas and International Travel

Successful Language Training: What Does it Look Like, and What Can it Provide?

Male CEO talking during a business presentation in a board room. Copy space.

Successful language training often helps employees determine if they can easily accept a global assignment. Many transferees may have a commanding grasp of several languages. Language proficiency and other professional skills often prepare them well for work in a new location. However, their family members may not be as proficient in multiple languages. The prospect of relocating to a destination where language may become a barrier can be daunting.

Employers should inquire as to whether transferees, their spouses, and their family members have proficiency in the language that is most in use at their new location. If they do not have proficiency, employers should provide assistance with language training.

What Does Successful Language Training Look Like?

Language training programs may include several helpful elements. All of these elements work together to provide transferees and their family members with valuable communication skills. These programs provide professional resources that are proven to assist transferees and their family members successfully settle in to their new location.

GMS spoke with Inigo Lopez, CEO of BiCortex Business Language Services to learn more about how participants can get the most out of their language training programs. Inigo agreed to share his expert guidance on this topic.

Successful Language Training Should be Efficient

Inigo notes that for greatest efficiency, students should study in a private class. Also, the number of student in group classes should always be kept to a minimum. The best solutions are tailored to the student’s specific needs including:

  • Preferred location (home, office or a neutral location)
  • Level of education
  • Business industry
  • Student’s professional and personal objectives

Language training that uses multiple methods to teach students typically has the highest rate of success. These methods may include conversation, use of visual aids, grammar exercises, and self-study. Also, students report higher levels of satisfaction with the training program. As a result, they are also more highly motivated.

Successful Language Training by Expert Language Trainers

Inigo believes the best language training providers work with trainers with the following profile:

  1. Significant number of years within the field of education
  2. Native and multilingual teachers
  3. Qualifications from renowned colleges and universities
  4. Highly motivated specialists with excellent customer feedback

Language Training and Complementary Services

Beyond language training, good solutions offer a range of complementary services. Inigo believes language training and other services can work together to help students reach the highest level of success. For example, tutoring can extend beyond language to include academic support in schools, preparatory classes for examinations, diplomas, and entrance exams, or writing papers.

Additionally, training should incorporate a wide variety of formats. Live online classes, online module learning, and custom solutions all work together to help students learn at their own pace.

What are Students of Successful Language Training Saying?

Inigo provided comments from several students who have utilized language training solutions successfully. Their comments show the amount of value that language training can provide:

M. recently relocated from Colombia to the United States

“My goal is to learn the English language because now we live in the United States…the language training classes helped me a lot…my level is very low as a beginner. My advice to others who want to learn a new language would be that first you really need to want to learn and receive classes both on grammar and tenses, classes can be online as it is similar to face to face in my experience.

The best thing for me is to simply learn, I love to learn more things every day. English for me is a priority and is a goal of mine in 2020. My favorite resources were the internet based tools and videos.”

R. recently relocated from India to the United Kingdom

“My main goal is to be fluent in it, and be confident. So far it is good, my teacher helps very much, and I like her classes. My advice to others is try to use English every day, read books, when looking for a word you do not know yet, always use more than one dictionary.

The best thing about learning a new language is that I am able to develop my confidence level, improving my social interaction and encouraging connection between peers. For me, the best way to learn has always been watching movies and shows. A good way to learn and practice English is to talk with our friends.”

What Should Employers do About Language Training?

The most successful company relocation programs provide a wealth of support programs and services for transferees and their family members since they are often key to ensuring a successful relocation. GMS provides our clients with an extensive range of language training programs as well as other valuable business services so employee relocations are successful. Our high-touch service model fully extends to helping transferees and their family members with everything they need during their relocation process.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop successful language training programs to help their relocating employees and their family members settle in to their new location. Our team can help your company determine the best language training solution for your relocation program. As a result, this will help promote successful relocations.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to discuss successful language training solutions to help your transferees and their family members, or give us a call at 800.617.1904 or 480.922.0700 today.

Categories
Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Relocation Best Practices Relocation Management Talent Management Talent Mobility

Healthcare Corporate Housing Solutions: Covering All the Bases

A group of doctors with face masks looking at camera, corona virus concept.

During the COVID-19 global pandemic, there is a dramatic rise in the need for healthcare corporate housing solutions. Many GMS clients in the healthcare industry suddenly find an increasing demand for a truly mobile workforce. These clients need to deploy their professional staff quickly and efficiently to several different locations.

Since GMS has many clients that already use corporate housing solutions, our team can implement a program almost instantaneously. This allows our client’s front line healthcare workers to focus on their immediate task and gives them peace of mind for their housing solution in a new destination.

What Do Healthcare Corporate Housing Solutions Include?

Direct Experience and Metrics That Matter

Clients seeking healthcare corporate housing solutions should expect a coordinated approach to its housing needs. Solutions should include a very high-touch level of service quality to reflect the needs of the client’s employees. Providers should have direct industry experience with proven long-term results. Metrics such as a 100% client satisfaction rating are indicative of an industry-leading program. As such, this reflects unparalleled dedication to service and quality by the provider.

Healthcare Corporate Housing Solutions: What are the Standard Services?

GMS leverages the strength of a multiple bid process to seek out housing choices among quality providers that meet clients’ budgetary restrictions and policy parameters. As a result, clients can save significantly on temporary living costs. Standard services include:

  • Domestic and Global Coordination
  • Auto Rental and Return Trip Management
  • Over 2 million properties worldwide
  • Fully Furnished Properties, with Utilities and Amenities
  • 95% or Better Match Guarantee
  • Online Tours of Properties
  • Electronic Lease Paperwork
  • Roommate Matching (if needed)
  • Direct Billing Arrangements Available
  • Available Signature Services such as Housekeeping, Grocery Delivery, Houseware Packages, and Special VIP Services

GMS also coordinates, reserves, and arranges the direct billing of fully furnished apartments, unfurnished apartments, and extended stay units.

Healthcare Corporate Housing Solutions: How Does the Process Work?

The general process for arranging temporary housing has three specific stages: Request, Reserve, and Completion. Each of these three stages follow a robust and client-focused set of steps designed to ensure client and transferee satisfaction.

Request

  1. Client submits a request for temporary housing to GMS
  2. GMS contacts the transferee to confirm the details and initiate the housing search
  3. Client approves housing search results (optional)
  4. GMS provides search results to transferee for selection

Reserve

  1. GMS reserves the transferee’s housing selection
  2. Lease documents and arrival instructions are sent to transferee (via DocuSign)
  3. GMS Relocation Coach contacts transferee to confirm selection is to their satisfaction

Completion

  1. Housing costs are directly billed to client on a monthly basis
  2. GMS Relocation Coach contacts transferee monthly to confirm satisfaction and comfort
  3. GMS Relocation Coach checks with client 30 days prior to housing term expiration to manage vacate or renewal
  4. Transferee vacates housing property at expiration

What Does This Mean for Healthcare Corporate Housing Solutions?

Employers seeking healthcare corporate housing solutions should work with a Relocation Management Company (RMC) that has the knowledge and experience to provide a full range of housing options across the entire housing process. RMCs should provide additional helpful programs such as Pre-Decision/Pre-Hire Services with needs-based counseling and mobility assessments, as well as Premier Travel Coordination throughout the entire relocation process.

Resources for transferees should include proprietary relocation technology, area tours, orientations, and virtual destination spotlights. All services should be provided either in-person or virtually, to suit the transferee’s need. By working together, we can all get through these rapidly changing times and help our healthcare workers to focus on what they do best—treating and helping patients to recover from COVID-19.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients with temporary housing solutions to meet their specific needs. Our mobility consulting team can help your company learn about the range of healthcare corporate housing solutions that provide the best options for the employer as well as its employees.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn more about healthcare corporate housing solutions from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Business Services Global Relocation Challenges Global Relocation Tips Relocation Challenges Visas and International Travel

Business Faux Pas: Top 5 Tips to Cultivate Good Global Relationships

Old Ways Wont Open New Doors sign

Global Mobility Solutions’ clients know that business faux pas can inhibit the development of a mutually beneficial relationship. Some customs that are completely acceptable in one country may not be acceptable in other countries. As a result, even the smallest gesture might not give a positive reflection. There are many ways to avoid these scenarios. Companies should provide resources and training for employees to help them learn how to cultivate good global relationships.

Top Emerging International Markets for Global Relocation

Many companies actively seek the top emerging international markets for investment. Companies focused on growth have a number of paths to choose as they look into global expansion. These choices may include some of the following:

  1. Business travel
  2. Short term assignments
  3. Work with a local partner
  4. Utilize services of International Professional Employer Organizations (PEO)
  5. Establish a local presence

Companies that are planning to use one or more of these paths should follow specific tips to avoid business faux pas. Careful research and investigation will help ensure good global relationships.

Top 5 Tips to Avoid Business Faux Pas

1. Research information about the location

GMS provides a number of valuable information resources for our clients. Global and Domestic Spotlights highlight information about culture, education, cost of living, climate, and many other points. Each of the spotlights provides information that can be used to learn more about important points for business contacts.

MyRelocation® Video Spotlights provide visual insights into a destination. Viewers can easily identify points of interest. They can also see the type of location, whether large city, suburban town, or small city located in the countryside. As a result, each of these locations will help the viewer understand how best to approach contacts in those areas.

In-depth research on a specific location can provide important points. For example, the city of Los Angeles recently enacted new regulations that may impact clients in various ways, and could certainly lead to business faux pas. This kind of research can also be provided with customized requests focused on specific locations and topics.

2. Get to know your contact

Many companies and their employees have robust pages on Linkedin. This social networking platform has risen in importance as a place where business people communicate with each other on relevant topics. Groups may be formed that are specific to interests such as Quality Auditing or Content Marketing. A contact’s participation in a group may provide helpful information on topics of importance to them.

Professional Organizations may have information about members. For example, the Arizona Department of Real Estate includes information on all licensees and brokers. Visitors to the website can search within the Department’s Public Database on topics related to licensing, education, development services, and compliance.

3. Ask questions to avoid business faux pas

Within your company or other professional contacts, do you know others who have visited the location? If yes, they may provide good information about the location, customs, and people. The more these contacts share with you, the better your chances are for creating a positive experience and avoiding business faux pas.

Do you or others in your circles know specific contacts at the location? Perhaps a supplier may have a facility located there. It may be helpful to reach out to these contacts and ask questions about their lives and experiences. Inquire as to what these contacts enjoy doing in their spare time, and what tips they can share about the local culture.

As you plan your travel, the places you stay may be able to provide valuable input for your visit. Contact local housing providers and ask if they have information about the location they can share. If you will be staying at a hotel, often the concierge is a source of valuable local information.

4. Review the business

Diligent research on businesses and contacts should include reviewing any publications such as the company’s annual reports, press releases, websites, and social media pages. Much of the contact that is shared can provide good insight into what is important for the company. It may also provide a number of talking points that can help open doors and leave an impression that you care about the company and their issues, needs, and goals.

Many business journals publish articles about companies. While not all of these articles are authorized, they may still provide helpful information. Some business journals to review include the Financial Times, The Wall Street Journal, Crain’s Chicago Business, and The Economic Times. Keep in mind that referencing an unauthorized article about a company to your local contact would indeed be a business faux pas.

5. Attend cultural training to learn how to avoid business faux pas

A virtual trainer for culture allows employees to access training anytime, anywhere. Cultural training modules include several topics in helpful settings, such as:

  • Personal training via webcam in one-on-one sessions
  • Trainers help employees learn how to view cultural differences to promote synergy
  • Guidance to operate in business settings includes practical and actionable points
  • Skill-sets found in other cultures are leveraged to help the employee learn more
  • Values such as mutual respect and understanding are shared and reinforced

Cultural training can be critically important as businesses pursue growth in countries that may be quite different from their own. For example, China’s culture includes a unique concept called “good guanxi.“ In China, the primary focus in business is relationships, not tasks. As a result, companies seeking to do business in China should learn the best ways to build business networks with good guanxi. This will go a long way toward avoiding any business faux pas.

What Should Companies do About Business Faux Pas?

Companies should work with a qualified Relocation Management Company (RMC) that has extensive experience in helping companies understand global issues. The RMC will help them understand how to research information about locations and companies. Additionally, the RMC will help the company learn how best to prepare for global expansion, whether through direct staffing efforts with global assignments or with the use of an International PEO.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients learn how to avoid business faux pas, with a goal of cultivating good global relationships. Our team can help your company understand how to research locations, people, and companies. We can also help your company learn how to leverage cultural training modules for employees to promote successful global business development.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. As a result, GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn more about how your company can avoid business faux pas and cultivate good global relationships. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Global Relocation Tips Global Relocation Trends Visas and International Travel

Brexit Financial Industry Impacts May Change Global Market Dynamics

Brexit's effects on corporate employees

European Union (EU) authorities are looking to change rules that may result in Brexit financial industry impacts for international banks. As a result, the financial rulebook known as MiFID II could be up for amendments that would negatively impact the United Kingdom (UK).

What is MiFID II?

MiFID II is reform legislation governing the financial industry. It came into being following the 2007-8 financial crisis. The EU’s purpose with MiFID II was to regulate financial markets in the trading bloc, and enhance protections for investors, thus restoring confidence.

MiFID II includes policies governing the following:

  • Commodities Trading
  • Derivatives Trading
  • Futures Trading
  • Record Keeping
  • Research Spending
  • Stock Trading

What Would Brexit Financial Industry Impacts Mean for International Banks?

Several Brexit financial industry impacts would alter how international banks interact with the EU and the UK. These impacts include:

  1. Financial services firms based in London must depend on an equivalence process to gain access to the EU
  2. The equivalence process will require the UK to prove to the EU that its rules post-Brexit are at least as strong as the EU’s
  3. The EU could unilaterally decide to exclude UK firms
  4. Equivalence process allows the EU to unilaterally change the requirements for equivalence

Should the EU choose to amend the MiFID II or alter the equivalence process, these changes will affect industry transactions. International banks with locations in the UK will face Brexit financial industry impacts that might:

  1. Halt adoption of open access, a provision meant to increase the competition in derivatives markets
  2. Remove the requirement that money managers pay separately for investment research and trading services
  3. Prevent large financial firms from providing research at low prices considered harmful to competitors

What Does This Mean?

Brexit financial industry impacts may be more far-reaching than initially thought. Since London is currently the largest financial market in Europe, other market areas in the EU may look to alter rules to help them gain business and increase their industry presence. As a result, financial services firms in the UK may soon face significant hurdles with respect to transactions in the EU.

What should Employers do About the Brexit Financial Industry impacts?

Employers in the UK should review their preparations for various Brexit scenarios that may arise in the negotiation phase. The Brexit Bill does not include all of the specific provisions that directly apply to financial industry points of concern. Issues covering these points may be determined during subsequent negotiations between the UK and the EU during 2020.

The UK has published several valuable resources with Brexit guidance for business. Companies should be sure to review the UK’s guidance to ensure they prepare accordingly. The UK has set up a portal to share information on the new rules for living, working, travelling, and doing business in the US and EU starting in January 21.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to respond to changing industry and international requirements. As a result, our team can help your company understand how various Brexit financial industry impacts may alter your need for relocating UK and EU workers.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to determine how Brexit financial industry impacts may affect your relocation program, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Visa Program Consultation

Properly managing a visa and immigration program involves meticulous coordination, precise communication, and worldwide interaction with government agencies, corporate personnel, and relocating employees.

At GMS, we provide you with peace of mind in knowing your mobility program is fully compliant and being managed by the best in the industry.

Request a no-pressure, courtesy consultation from a GMS Mobility Pro. We’ll be in touch within 1 business day.

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

About

About Us

Careers

GMS Client Login

Privacy Policy

 

Contact

Contact Us

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904 

Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

Accessibility by WAH

Looking for something?