After three years of Contraction, international assignment activity is on the up with 64 percent of global companies reporting that they are sending more Employees overseas.
Some 63 percent of global companies expect an upward trend to continue in 2012, signalling a return to pre-recession activity levels. Healthcare, Pharmaceutical and Energy industries lead resurgence, Financial Services industry hits new lows. Greater growth reported from companies headquartered in the Americas than those in Europe. In spite of global economic malaise, multinational companies are increasing the pace of international assignments, according to the Global Relocation Trends Survey report, published by Brookfield Global Relocation Services.
In the 2012 Survey report, companies reporting growth in international assignee populations jumped nearly 50 percent from 2011 and well beyond what has been. This year’s results indicate a return to activity levels not seen since 2007 suggesting that, regardless of regional economic woes, multinational corporations are mobilizing workers to fill skills gaps and develop talent, especially in emerging and developing markets. Notably, assignment activity outside the headquarter country location continued to rise hitting 46 percent, an all time high, and another sign that companies are diversifying their sources for talent and looking farther afield for new market opportunities. Many new locations were cited as top destinations for international assignments including Malaysia, Spain, Indonesia, Argentina, Kazakhstan and Colombia.
“In last year’s survey, we were encouraged by the optimism companies showed in predicting a return to positive international assignment growth; but with the prolonged weakness in the US economy and the escalating sovereign debt crisis in some European countries, we were doubtful of that forecast coming true, but it has,” said Scott Sullivan, executive vice president of BGRS, “The significant increase in actual assignments in 2011 and the optimism for continued growth for 2012 suggest that corporations have adjusted to these unstable environmental conditions and are focused again on the future and growing their businesses internationally.” Research for this report was compiled from 123 companies around the world; combined, these firms manage a worldwide employee population of 6.9 million. Brookfield Global Relocation Services will present key findings of its 17th annual survey on Thursday, June 28, 2012, during a complimentary webinar that will provide a comparative analysis of the important global mobility issues facing businesses today.