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Mobility for Millennials

Hosted by Deloitte

Brisbane Chapter – 15th November 2017

What’s going on?

The Forum for Expatriate Management (FEM) is the premier, worldwide online and real-world community for Global Mobility professionals. Through our content and events we distil best practice across regions, industries and functions and provide valuable networking opportunities. We are looking to extend our reach and deepen our networks, offering more value to our current members in the following ways: • Expanding our community-focused website with new channels and features • Establishing a new model for our Summits to drill down into the details • Rolling out a completely new model for our Chapters to connect online • Growing our Directory for connecting with industry leaders and suppliers

The Number 1 Professional Global Mobility Network for the 21st Century

Mobility for Millennials

Hosted by Deloitte

Brisbane Chapter – 15th November 2017

Global Mobility Tax Update

• Superannuation reforms

• Single Touch Payroll - recent developments

Immigration Update

March 2018 Changes

Temporary Skills Shortage (TSS) visa to replace the subclass 457 visa

Grandfathering TRT Arrangements Announced

Grandfathering TRT arrangements released by DIBP which applies to all 457 visa holders whose

application was made before 18 April 2017.

Who are the millennials?

Who are these people? How many do you think are millennials?

Generation profile

Myth vs. reality How are millennials different?

Millennials will comprise 75% of the workforce by 2025

… and 59% are willing to work abroad.

How would you describe millennials?

Risk-seeking…

Entitled…

Spontaneous…

People-focused…

Extroverted…

Flexibility and purpose-driven…

Characteristics of millennials

Millennials appear more loyal to employers than a year ago (or perhaps less confident).

Millennials looking for stability (especially in mature economies).

The 2017 Deloitte Millennial Survey: Apprehensive millennials seeking stability and opportunities in an uncertain world

Increasing loyalty and a desire for certainty

Deloitte 2017: The Millennial mindset – Work styles and aspirations of millennials

Deloitte’s Business Chemistry framework

Myth vs. reality


Millennials…

• Dislike ambiguity even more than previous generations

• Wary of change

• Least likely to identify as risk-taking

• More likely to focus on outcome and goals rather than people

• Highly networked yet “secret introverts”

• Most stressed generation

• Grown up with recession and global conflict

Business chemistry and generations


How millennials differ from non-millennials

Millennials and global mobility Survey results

Copyright © 2017 Deloitte Development LLC. All rights reserved. 17

17%

17%

83%

92%

64%

68%

67%

69%

Global FEM

Freelance flexibility with full-time stability

The 2017 Deloitte Millennial Survey: Apprehensive millennials seeking stability and opportunities in an uncertain world; and

2017 How are millennials impacting Global Mobility?

Flexible time Employees choosing when they start/finish work

Flexible location Employees choosing to work from the office, from home or other locations

Flexible role Employees choosing, within certain guidelines, what they do as part of their job

Flexible recruitment Different types of contracts, crowd-sourcing talent, etc


Organisational ability to attract, retain and develop millennials

Performing well 50%

Average 34%

Under-performing 8%

Significantly under-performing

8%


Global mobility’s ability to attract, retain and develop millennials

World Class 0% 0%

Performing well 58% 28%

Average 34% 44%

Under-performing 8% 22%

Significantly under-performing

0% 6%

FEM Global


What are your key challenges with millennials?

=#1 Lack of

understanding of their needs

=#1 Our technology

is not adapted for millennial needs

#4 Challenges with

attracting millennials to go on assignment

=#2 Packages do not

include non-traditional move types

#3 Rigid structure

=#1 No clear link

between global mobility and career development

=#2 Program and/or

policies does not provide the flexibility required


What global mobility policies are currently used for millennials?

0%

0%

25%

33%

33%

42%

50%

Swap program

Self-select

Graduate / Early career

Expat lite

Permanent transfer / local plus

None

Developmental

58% of organisations have global mobility policies for millennials


What global mobility policies will be added or updated for millennials?

0%

0%

9%

9%

18%

27%

27%

55%

Swap program

Self-select

Expat lite

Permanent transfer / local plus

Developmental

Graduate / Early career

None

Planning to add flexibility to existingpolicies

73% of organisations plan to update or add policies for this generation


Current state

None

Policy

Service delivery model

Communication and/or training

Technology

Process, Governance, Vendors and Reporting

Future state

What current vs. planned initiatives are used to differentiate global mobility for millennials?

50%

25%

17%

17%

8%

0%

Policy

Technology

Service delivery model and Process

None

Communication and/or training

Governance, Vendors and Reporting

42%

33%

25%

25%

17%

0%

75% of organisations plan to introduce global mobility initiatives for millennials...


Which areas will have the greatest impact on global mobility’s ability to attract, retain and engage millennials?

Policy

Service delivery model

Technology and Communication

1

2

3

Process

Governance, Vendors and Reporting

4

5

“Clear development

pathway and options

post secondment”

“Opportunities,

benefits, $ and

stability”

• What do you do now to attract, retain and engage millennials through global mobility? (Current state)

Table discussions

• What do you wish you could do within Global Mobility to better meet the needs of millennials? (Future state)

How do you attract, retain and engage them?

Why is global mobility a good idea for a new generation?

Millennials are more engaged when they…

... have a sense of purpose

... feel generally in control and empowered

... feel that they have a positive influence on the workplace and the wider world

... work in an inclusive and collaborative work environment

... have flexibility in their work arrangements

Source: 2017 Deloitte Millennial survey

Although these attributes are focused on millennials, they extend beyond the new generation and may be widely applied to

experienced professionals and senior level employees

Attributes that would appeal to the Millennials in a global mobility program?

• Purpose/meaning

• Flexibility & choice

• Exposure & connectivity

• Diversity & inclusion

• Social status/recognition

• Fun

• Technology

• The ability to bring their authentic

self to work

• The ability to build on their global

business acumen

Policy types for millennials

What are other organisations doing?

Rotation program

Group training

Short term assignments

Swap programs

Community-based assignments

Remote working teams

Nomination program for rising stars to work in a select number of

countries over a period of 2 years. Clear promotion plan after the

program.

International group training programs where groups of 15-20 young

professionals (typically professionals who start their role at the same time) are provided with training opportunities once a year.

Short term assignments to selected specific locations with the main

purpose of helping junior staff deepen client relationships and build

networks. Central funding is used to move people.

A structured program targeted at peer groups which provides an

employee with an opportunity to “swap” with their peer in a similar role in another country.

Community development assignments in emerging markets to help solve

critical problems while providing employees with leadership development opportunities.

International exposure via international working teams (without having to

physically move to a new location). Working in a diverse multi-cultural

team/project to build a global mindset.

Generation profiling As part of HR strategy planning, create empathy maps for different

workforce generations (millennials, gen X, baby boomers and gen Z).

Thank you

General information only

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means of this presentation, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should

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