Could an overseas job be in your future? Despite a slowing economy, an overwhelming majority of multinational corporations remain highly optimistic about the global outlook for their businesses and say they plan to send more employees on overseas assignments in the months ahead, according to the new Global Relocation Trends Survey, published annually by GMAC Global Relocation Services.
The worldwide survey of 154 multinational firms found that 68 percent of corporations are ramping up their employee assignment efforts. Of those, 95 percent say they plan to either increase the number of employees being transferred or stay at the same level as last year. A mere 5 percent expect to decrease the number of employees relocating in 2008. The firms that participated in the latest survey manage a total worldwide employee population of 4.3 million.
According to GMAC Global Relocation Services, the optimism is impressive in light of a looming recession in the United States. Helping offset this, are booming markets in China and steady expansion of the European Union, which has created a vast and relatively open marketplace for trade encompassing some 500 million people.
Still, corporations are not immune from global economic challenges. Despite this projected growth, the majority of companies (58 percent) indicated they are cutting back on expenses for international assignments in response to economic conditions. At companies that are reducing expenses, 29 percent of respondents -- the highest since the survey began tracking this subject – indicated they are reducing policy offerings and financial incentives for relocating employees.
Among the other findings:
Family concerns were cited as the most common reason for assignment refusal (89 percent), followed by spouse career concerns (62 percent). Family-related issues play a key role throughout the duration of international assignments; 28 percent of respondents cited family concerns as the top reason for early returns from assignments.
Fifty-six percent of expatriates were relocated to or from the headquarters country, which was below the historical average of 65 percent.
The annual turnover rate for all employees is 13 percent, compared to 25 percent for expatriate employees during assignments, and 27 percent within one year of completing assignments.
Nineteen percent of expatriates in this year’s survey were women, more than the historical average of 15 percent. Also: 50 percent of expatriates were 20 to 39 years old.
Sixty percent of expatriates were married, less than the historical average of 66 percent. The percentage of married men (51 percent) was the lowest in the report's history. In addition, 51 percent of expatriates had children accompanying them (a match for the previous all-time low in the 2003/4 report); the historical average was 57 percent.
The United States, China and United Kingdom were the most frequently cited locations for expatriate assignments.
China, India and Russia were the primary emerging destinations – and also were cited by survey participants as the most challenging locations for expatriates.
For information on how to receive the full survey, click here.
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Could an overseas job be in your future? Despite a slowing economy, an overwhelming majority of multinational corporations remain highly optimistic about the global outlook for their businesses and say they plan to send more employees on overseas assignments in the months ahead, according to the new Global Relocation Trends Survey, published annually by GMAC Global Relocation Services. 
