Sending your local team of experts to work for another office overseas is usually the case when there is a need for a transfer of knowledge to the local teams or for global leadership development. However, relocating employees to work in an international assignment doesn’t come cheap. On average, it costs $300,000 per employee per year, considering housing, relocation, tax equalization, and other expenses. This is why companies usually reserve international assignments for their high-potential employees or those with specialized skills that can’t be found locally.
Considerations for International Assignments
Apart from the cost of such a transfer, there are cultural differences and potential language barriers to navigate. It’s also important to ensure the employee is a good fit for the new location and has the necessary skills to succeed in the position. Ultimately, if done well, an international assignment can provide a unique and valuable experience for both the employee and the company.
Planning & Preparation for International Assignments
It is essential to carefully plan and prepare to ensure a smooth international assignment process for employers and employees. By establishing clear expectations, providing ample support, and fostering open communication channels, companies can facilitate a positive experience that benefits both parties. This requires attention to logistical details and a solid commitment to employee well-being. By implementing such practices, organizations can enable their employees to thrive and contribute to the company’s success in the global market.
International Assignment Made Easy
Employer of Record (EOR) solutions can offer valuable support to companies looking to relocate employees for international assignments. EORs can assist with the administrative burden of managing a global workforce, ensuring compliance with local laws and regulations, and providing in-country expertise. Additionally, EORs can help alleviate some of the financial burden associated with international assignments by delivering cost-effective payroll, benefits, and tax solutions. Finally, by partnering with an EOR, companies can streamline their international assignment process, allowing them to focus more on developing their employees and expanding their global footprint.
Olivia Yu has decades of experience in the Human Resources industry. She’s the Regional Director for Asia Pacific of a famous international HR company. Olivia’s international experience inspires her to write articles about human resources and global staffing.