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:
The Success of Dual Career Couples Key in Transfer
Annual Survey Examines Costs of Living Around the World
H-1B Visas Complicate Remote Work Policies
The Success of Dual Career Couples Key in Transfer
The Permits Foundation has released its International Dual Careers Survey Report 2022 featuring feedback from global mobility professionals. The report provides key insights on a host of issues of key importance to mobility professionals. Fully 98% of respondents report that transferring mobile employees international was very important (78%) or important (20%). Drilling down more into specific mobility issues, 58% of organizations have had employees turn down international assignments because a spouse or partner was able to access work. 44% of companies had employees return from international assignments specifically due to career concerns of their spouse or partner. Employee and dependent visa processing remains a troubling hurdle for many with 81% citing the need for more online processing options and 73% identifying the need to shorten processing times. The value of global mobility remains clear with 91% of organizations saying international mobility facilitates the transfer of knowledge, skills, or technology. More than 78% of respondents found global mobility essential to develop international management potential and develop a global mindset. The survey provides a lot of updated insights that are well worth reviewing in full. The report can be accessed here: Permits Foundation Report
Annual Survey Examines Costs of Living Around the World
Hong Kong has been named the most costly city to live and work abroad in this year. After being pushed to second place by Ashgabat, Turkmenistan, in 2021, Hong Kong has reclaimed pole position in Mercer’s 2022 Cost of Living index. It is the fourth time in five years that the Asian financial hub has been named the most expensive destination for overseas workers.
Inflationary pressures worldwide have accelerated, increasing living expenses in Hong Kong and elsewhere. Meanwhile, ongoing Covid limitations and rising political uncertainty have made it more expensive to compensate staff who are sent to Hong Kong.
Expatriate packages are getting more expensive, owing to the fact that desirable housing has become more expensive. "Part of it is the real estate market,” said Mercer partner Vince Cordova told CNBC Make It. “The other part is the cost of goods and services and also the political uncertainty. The people who are going to be there will need to spend more to live well,” he said.
Mercer's cost of living index is used by businesses and governments to set compensation for expatriate workers. The index attempts to compare accommodation expenses and the price of goods and services in local markets against their relative cost in New York City.
The U.S. Added 372,000 Jobs in June as demand for workers continues to exceed the number of people looking for work. All eyes are looking for a potential recession on the horizon but there is nothing in the jobs report to support those concerns. --Wall Street Journal
Housing-Affordability Index Drops to Lowest Level Since 2006 as The National Real Estate Agents Association’s Home Purchaseability Index fell to 102.5 in May. The Affordable Index incorporates the median existing home prices, median family income, and average mortgage rates. --Real Estate Guru
After hitting all-time highs, gas prices are finally coming back down. The price of worldwide benchmark Brent crude oil fell to about $104 a barrel Thursday, down from nearly $115 last week and well off the highs of nearly $140 briefly reached in March. --NBC News
Fears of recession drive the Euro down and the Dollar up. --Los Angeles Times
H-1B Visas Complicate Remote Work Policies
Employment immigration laws have remained the same in recent years, although many employment policies have evolved. Immigration specialists advise employers to keep track of the movements of workers holding H-1B visas.
In addition to delays in the immigration system, the introduction of hybrid and remote work has complicated the management of H-1B visa workers. There are a number of potential hazards that may develop if these complications are not dealt with adequately, according to employment immigration experts.
In an increasingly competitive job market, some workers — including those with H-1B visas — are looking for remote employment opportunities to expand their professional horizons. The transition to remote work is already a minefield of issues, but it gets even more complicated when they have an essential employment visa such as an H-1B visa.
Minnesota Employee Relocation Council Holds Summer Session via Worldwide ERC.
85 U.S. Airports Receive $1 Billion For Upgrades, Biden Administration Announces via Forbes
Eight Business Books to Challenge Your Thinking via MIT Sloan
You Can Help Forge the Future of Workforce Mobility via Worldwide ERC.
A One-Hour Layover is Not Enough Anymore’: A Flight Attendant’s Tips on Surviving Travel Now via NY Times
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.
Reputedly one of the friendliest countries in the world, Canada has gently elbowed its way to the top of the most popular country in the world for relocation. While it is true that Canada is home to 20% of the world's freshwater, the longest highway in the world (Trans-Canada Highway at 4,680 miles), and fully 77% of world maple syrup production, it is likely that Canada's incredibly intentional welcome is the primary reason. Canada plans to welcome 1.3 million new immigrants from 2022-2024 with programs such as Express Entry, Family Class Sponsorship, LMIA work visas, and Provincial Nominee Programs. In fact, Canada has published a coherent immigration plan to strengthen the economy, reunite families, and help refugees.
Canada is currently experiencing historically low levels of unemployment and has identified immigration as its key strategy to offset an aging population.
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