During a recent event that I attended in London, a panelist asked the crowd how they measure return on investment for talent mobility. Not to my surprise, no one could answer the question. In fact, one attendee stated that return on investment and the ability to show quantitative value of talent mobility wasn’t even a topic their company was able to discuss.
For almost every other function within the 21st century organisation, including those in HR, the ability to track cost and measure success with real-time access to information is essential to operating in an optimal manner. So, why is talent mobility treated differently?
According to PwC, only 36% of organisations currently have access to the right data in order to manage their globally, mobile employees and only 8% believe they have a world-class system in place. This means that 64% of companies struggle with manual and labour-intensive processes for extracting data and translating it into actionable insight.
Data is powerful because it equips companies with valuable information to make more informed and educated decisions that drive better results. This is as true for the business stakeholders as the employees who move. Even what you call ‘gut feeling’ is based on experience accumulating data from repeat decisions and learning from their outcome time after time.
In a mobility programme there are many areas that are ripe for improvement including policies, processes, vendor management, compensation approach and tax planning.