Welcome to Mobility Minute, a newsletter published every Friday byWorldwide ERC®for the benefit of members and the global mobility and relocation industry. Here's a quick glimpse of what you'll find in this week’s issue:
Over 1,400 Global Mobility Professionals Gathered at GWS2022
Jim Carroll Inducted to Hall of Leaders
Twitter Highlights from GWS2022
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The Global Workforce Symposium 2022 Issue
Over 1,400 Global Mobility Professionals Gathered at GWS2022
The 2022 Global Workforce Symposium is the only event of its kind that unites our industry to shape the future of workforce mobility. At this week's conference, over 1,400 professionals from the mobility and relocation industry were present to learn and connect.
In her opening remarks, Worldwide ERC® CEO and President Lynn Shotwell said that it is important for everyone to remember that our industry is developing in the wake of a number of worldwide changes that have affected how we live, work, and play. As Shotwell explained it, "The game has changed."
During the welcome address, Wynn Resorts Chief Sustainability Officer Erik Hansen spoke about the resort’s sustainability program. Additionally, keynote speaker Eric Boles challenged the audience to accept the possibility of failure and to grow from those experiences, and he explained that if we don't put ourselves in new situations, we won't grow.
This year, Worldwide ERC® honored James “Jim” Carroll, SCRP, SGMS-T, GPHR-SCP, as a four-time Distinguished Service Award recipient, earning him induction into the Hall of Leaders. The Hall of Leaders award recognizes Carroll’s years of distinguished and noteworthy contributions to Worldwide ERC. Of the countless members in Worldwide ERC history, only 60 have been deemed extraordinary enough to be inducted into the Hall of Leaders.
Carroll’s accomplishments were formally recognized, and was inducted into the Hall of Leaders at the Global Workforce Symposium in Las Vegas. We are pleased to welcome him to the Worldwide ERC Hall of Leaders! This honor is well-deserved, given his significant contributions to our industry.
Whether you were at GWS2022 or not, following the #GWS2022 hashtag on Twitter was the best way to stay in the know about the goings on in Las Vegas. Below are some highlights from the feed.
Global Economic Snapshot
House prices are now falling in nine rich economies. The drops in America are small so far, but in the wildest markets they are already dramatic. In condo-crazed Canada, homes cost 9% less than they did in February. — The Economist
The Internal Revenue Service recently announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. The Inflation Reduction Act extended certain energy-related tax breaks and indexed for inflation the energy-efficient commercial buildings deduction beginning with tax year 2023. — IRS.gov
Women in all parts of the world migrate across international borders in order to improve their quality of life by earning higher salaries. This labor mobility—a process wherein workers migrate for economic opportunity—empowers people to raise their standards of living. — Harvard International Review
Rewards programs regularly increase award prices, which are the number of points or miles needed to book a hotel night or flight. That practice devalues these currencies over time and renders customers’ collection of points and miles less useful. Yet, interestingly, the opposite effect seems to be happening this year.
Is Inflation Affecting Travel Points and Miles?
Many rewards programs’ points have become more valuable this year compared with the previous year. American Airlines’ miles increased in value, from 1.2 cents per mile in 2021 to 1.5 cents in 2022. United Airlines’ miles jumped from 1 cent per mile to 1.2 cents per mile. In fact, almost every domestic airline's miles either increased in value or stayed the same, year over year. Cash prices went way up this year and award prices (e.g., the number of miles needed to book a flight) also went up, but not as much.
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