COVID-19: Preparing for the future
A series of articles developed by the Global Mobility team to help guide you and organization.
Validation is affirmation and obtaining the knowledge that you are doing the right thing. But, that’s only half the story. Validation is also an ongoing call to action that helps you use past findings to anticipate future change. Therefore, validation helps you identify and prioritize future initiatives that can transform your business. In this week’s article, we will discuss why data-driven Validation is the key to transformation and emerging stronger in the new reality.
Organizations today have more information from more sources than ever before. On one hand, this statement is empowering
as it means that companies today have more resources and measurement mechanisms at their disposal. We’ve seen this illustrated throughout the COVID-19 journey with up-to-the-minute analytics on case numbers and historic trend data.
On the other hand, the amount of data can be overwhelming and confusing. Many organizations continue to struggle with harnessing the true power of their data, which can lead to data overload and a loss of analytic accuracy.
This can happen when an organization is unable to connect disparate data sets leading to incomplete analysis—leveraging only a portion of available, predominantly historical data. Because of the concentration on lagging indicators, an analysis can lack a transformative or future-focused outlook.
As we’ve seen with COVID-19, data needs to prepare us for the unknown, not just affirm things we already believe and understand. This has led to the creation of COVID-19 peak trends and has provided many governments and private agencies with predictions on when states or countries can begin to reopen their economies, get people back to work, and continue to protect human lives.
A broadened, trusted data set provides a mechanism to reframe analytics by identifying past trends that can lead to future predictions.
With millions of people working outside of their home country, actionable data is critical to optimize your workforce and help ensure that you meet the correct balance between short- and long-term career planning and costs. In fact, while information may be available, it’s critical to understand that many global mobility departments are just now leveraging analytics to validate the total number of their mobile employees, confirm how much they’re spending on these individuals, or why talent is even being sent abroad in the first place.
COVID-19 has, for many, been a wake-up call—a time when prescriptive data is critically needed to keep operations moving and has led to the realization that data is de-centralized, data is missing, or that data was not used effectively to arrive at useful answers. At the onset of COVID-19, many organizations realized that they did not have basic data on their employees’ location, let alone prescriptive data. In a new reality, global mobility will need to transition to achieve actionable, manageable insights and emphasize quality over quantity analytics to ensure duty of care and help make future talent lifecycle and mobility predictions.
In fact, it’s this future-focused approach that will allow you to review your Realization and Engagement phase initiatives and assess their current and future impacts.
COVID-19 has also expressed the importance of connecting across talent management and/or business strategy
groups with an emphasis on sharing data. In fact, many companies are already doing this to respond to COVID-19 employee needs. These cross-functional relationships are becoming more important as we emerge from the immediate circumstances presented by COVID-19. It will require global mobility to work more closely and more transparently with these stakeholder groups to predict and respond to fast-paced shifts in company business and talent priorities.
These relationships, cross-functional data, and concentration on future-focused analytics are critical to validate the success of global mobility and help to define global mobility’s strategic future within the company.
Global mobility is one of the most expensive employee programs within a company. While most organizations have some indication, or an estimate of assignment costs, few truly understand the overall costs related to supporting talent mobility globally.
Having the right talent in the right place is critical to business success. A critical component of this is working with your talent management teams to ensure that the right person is being selected for each position in line with overarching talent development objectives and that future plans account for additional costs or complexities in moving key employees.
Preparing to move an individual from one location to another is one of the most time-consuming portions of the overall move process. Not only does this include selecting the right talent, but it also requires taking into account both regulatory and legal requirements which can slow or even cancel a move before it begins. Understanding how your talent identification and initiation processes are working is critical.
Global mobility, while one of the most expensive, is also one of the most personal development opportunities an employee will experience during his/her career. A key measure of success for many organizations is how a global move will impact the employee’s development, post-assignment retention and career trajectory with the company.
Work anywhere is now emerging in response to the challenges of COVID-19 to enable continuing employment and global business operations. It’s therefore important that we protect employees while maximizing productivity thorough work location flexibility.