Welcome to Mobility Minute, a newsletter published every Friday by Worldwide ERC for the benefit of members and the global mobility and relocation industry as a whole. If you get Mobility Minute weekly, please forward this issue to colleagues in the Workforce Mobility industry. If this was shared with you click here to get your own free subscription and access the archives.
What's happening?
Here's a quick glimpse of what you'll find in this week's Mobility Minute:
Security Exchange Commission hears from the Global Mobility industry on proposed sustainability reporting rules
Applications are now being accepted for the 2023 Worldwide ERC Board of Directors and 2023 Foundation Trustees
The Importance of Virtual Mentorships in the Hybrid Workplace
Global Mobility Priorities on SEC Proposed Rule for Environmental Sustainability
We made the regulators aware of our recent survey – The Road to Sustainability: What Companies Are Doing and Why – and explained how its findings demonstrate that our members are making concerted efforts to employ sustainable business practices while recognizing the impact on small and medium-sized businesses.
What is important for Global Mobility?
Recognizing and acknowledging the global nature of so many industries like ours, we asked the SEC to make the following changes before finalizing the rule:
Global Standardization: The United States should engage with foreign governments on the sustainability reporting requirements to ensure as much as possible a consistent international framework.
Small Business Threshold: Corporations should not be required to report the sustainability impact involving small businesses within their supplier network or, at a minimum, less onerous reporting requirements for small and medium-sized businesses should be included.
Reasonable Implementation Timeline: Sufficient time must be allowed between a final rule and initial reporting periods to allow industry associations to educate members and bring consistency and best practices to bear.
Call to Serve on 2023 Worldwide ERC Board and 2023 Foundation Trustees
Worldwide ERC is seeking industry leaders willing and able to serve on the Worldwide ERC Board and the Foundation for Workforce Mobility. These governing bodies provide leadership on organizational mission, vision, values, and strategic direction. The selection process for both bodies is highly competitive and reflects the need and commitment to diversity and inclusion.
The deadline for applications for both is July 20, 2022
2023 Worldwide ERC Board of Directors
We are seeking members with leadership experience, industry knowledge and volunteer commitment to apply for a total of 4-5 Board positions (comprising 1-2 corporate mobility professionals and 2-3 service providers) for a three-year term commencing January 1, 2023.
Successful candidates will be visible leaders who have been active and engaged in Worldwide ERC activities, are effective in leveraging professional industry networks to support Worldwide ERC, and offer insights and perspective that will inform the organization's thought leadership.
Detailed responsibilities and attributes sought in 2023 candidates can be found here. Applications can be found here.
Foundation for Workforce Mobility
We are also seeking leaders for the Foundation for Workforce Mobility, which relies upon volunteer efforts to further its mission to energize the global community through charitable giving and to make sure all communities touched by global mobility are actively aware of, inspired by, and engaged in our charitable efforts worldwide.
Detailed Foundation responsibilities and attributes sought in 2023 candidates can be found here. Applications can be found here.
2022 Global Workforce Symposium Call for Proposals
We are seeking case studies of resiliency, innovation, and lessons learned in navigating the challenges and laying a course for a better future. The submission deadline is June 28, 2022. Selected proposals will be scheduled to be presented live at GWS in Las Vegas from October 26-28.
The cost of owning a home in the U.S. surges above the cost of renting due to continued rising home prices and dramatic increases in mortgage rates. The financial choice--comparable in 2021--now makes home ownership more than $800 more expensive than renting every month. Early speculation is the shift will cool the housing market. --NY Times
The U.S. Federal Reserve has signaled a 0.75-percentage-point rise in interest rates as early as July. As the Fed struggles to arrest rising inflation, the U.S. Congress is pressing Fed Chairman Jerome Powell on the risk of creating an economic recession with higher interest. --Wall Street Journal
As British Airways workers at London's Heathrow vote to strike over the summer and rail strikes in the UK are estimated to cost $660 million in lost travel revenue, some begin to fear the UK's reputation for business travel is at risk. --Skift
While Amazon grapples publicly with unionization, the shortage of warehouse workers may represent a greater risk for the company's growth plans. Amazon's internal research bluntly summarizes; “If we continue business as usual, Amazon will deplete the available labor supply in the US network by 2024.”-Vox
The Importance of Virtual Mentorships in the Hybrid Workplace
Mentorship is an effective tool for connecting personal aspirations and principles to one's profession, allowing people to blend the two in order to achieve more significant results. Despite greater efforts by businesses, nearly 85% of workers worldwide are still not engaged or actively disengaged at work, according to Gallup. And a University of Miami study found that 65% of young people reported increased loneliness since the start of the Covid-19 pandemic, and 80% reported “significant depressive symptoms.”
Why is this important?
It is critical for businesses to explain why mentoring is necessary and why it is important for the company. When a mentorship program's overall objectives are tied to a business's core values in virtual mentoring, it may be easier to maintain a shared corporate culture even if individuals are not in the same physical location.
Thrust Carbon, which provides emission data for companies to track and measure their carbon footprints, has partnered with Corporate Traveler to provide a tool for travelers to see emission data for flights, hotels, and car rentals throughout the journey. Corporate Traveler also will introduce a search results filter for carbon emissions and display sustainable hotel badging. --Business Travel News
70% of organizations implemented larger salary increases in 2022 compared to 2021, with 21% reporting “significantly higher” levels of compensation. Those who anticipated implementing increases in November 2021 estimated an average of 4.2% but have averaged 4.8% so far in 2022. --PR Newswire
Data security and customer experience are the most significant factors for fostering brand trust. 58% of consumers ranked protecting personal data as the largest consideration, a jump of 11 points in the past six months. --PWC
Nature-adjacent real estate is a hot amenity for homebuyers who can afford it in 2022. Developers are responding with 'naturehoods' that have access to open spaces and outdoor recreation opportunities that emphasize environmental sustainability. --Wall Street Journal
On Tap
2022 Global Workforce Symposium, October 25, 2022 – October 28, 2022 — We’re living in a time of great transformation. The global pandemic and the advance in technology is changing how humans live, move, and work. What do these changes mean for the workforce mobility industry? Join us this fall as we build the game plan for how mobility responds. Click here to learn more about the 2022 Global Workforce Symposium.
