Culture shock is a well-known phenomenon in global relocation. However, many companies fail to recognize and address culture shock when it happens closer to home. Employees moving North to South or East to West within the same country are actually just as likely to experience some form of culture shock as if they had moved around the world, though perhaps not to the same degree. The difference is how we treat them.
You may have heard that TRC Global Mobility recently became an employee-owned company. What, exactly, does that mean if you are a TRC client or prospective client?
Employee ownership empowers employees. By giving employees the autonomy and flexibility to make judgement calls based on the customer’s needs, we streamline processes and increase customer satisfaction. Our employee-owners know that their actions affect their customers, and ultimately, the success of our company, and they take ownership of their decisions. In short, your success is their success. (more…)
With such a major investment at stake, candidate assessment has become de rigueur for international assignments. But relatively few companies apply such a rigorous assessment to a potential domestic relocation. While the cost of most domestic relocations pales in comparison to a typical global assignment, it is still substantial. And a failed domestic assignment can have the same repercussions for the company: a loss of investment and talented employees.
Relocating abroad presents challenges, but often the most difficult part of an international assignment is returning to the home country. The sad reality is that more than 25% of international assignees leave their employer within two years of returning home.
With such a substantial investment in each international assignment, it’s wise for companies to plan for a successful re-entry from the beginning of the process. Aside from closing out the host country household and moving the family back to the home country, companies should consider potential reverse culture shock issues the assignee or family may experience as well as the employee’s career path. (more…)
TRC Global Mobility Completes Sale to ESOP
– Company Now 100% Employee Owned-
MILWAUKEE, Wis. (October 18, 2016)– TRC Global Mobility, an employee talent mobility company providing services for U.S., international and government clients, announced today that it has transferred 100% ownership of the company to its employees via an Employee Stock Ownership Plan (ESOP).
An ESOP is a qualified retirement plan that buys, holds, and sells company stock for the benefit of the employees, providing them with an ownership stake in the company. TRC Global Mobility Chairman and Founder Paul Haislmaier finalized the sale in September 2016. (more…)
Employees on international assignments typically observe the holidays of their host country location, which is sometimes a bit of a surprise for the expats. They might be American citizens working for an American company in its Paris office, but they will be celebrating not U.S. Independence Day but French Bastille Day! They usually receive the same paid time off they received at the home location, but sometimes local laws or practices dictate a different arrangement. Employees on assignment also are given allowances for at least one trip home per year. (more…)
A typical international assignment package includes not only base compensation but also a variety of premiums. These incentives can vary greatly depending on your policy and culture, the competitive environment in which your company operates, the level of the employee and the global assignment location.
While most of us struggle with taxes in our native country, imagine what it must be like trying to determine your tax obligation in another country. Making sure you stay square with both the home and host countries requires professional assistance so most companies offer tax services as a part of their general employee relocation services package.
Shipping personal goods can represent a significant expense for companies and a significant source of stress for expatriates. Careful counseling is important to ensure employees do not move goods they will not be able to use in the new location (e.g. televisions; excessive or very large furniture that will not fit in the destination housing; and very heavy and bulky items, like pool tables).
Most goods are typically shipped by sea, with a small air allowance for items that will be needed immediately.
The first few days of an international relocation tend to be exciting yet trying. To reduce stress and help employees adjust to their new environment, most companies provide a series of destination and settling in services to the families. Usually this means allowing employees to spend two to four days at their new location handling all of the time-consuming errands that need to happen before they can begin getting into a routine. (more…)