Report by Brookfield Global Relocation Services Finds Some Industries, Including Oil and Gas and Telecommunications, Have Increased International Assignments While Others Are Sharply Cutting Back
WOODRIDGE, Ill.--(BUSINESS WIRE)--The ongoing economic downturn has forced many companies to dramatically scale back the number of employees they are relocating for international assignments, but has left other industries virtually unscathed, a new report exploring international mobility trends from Brookfield Global Relocation Services (http://www.brookfieldgrs.com) has found.
In fact, certain industries – among them telecommunications, oil and gas – are experiencing an uptick in their employee relocation activities due to mergers, emerging global markets and other factors, according to a recently released report, International Mobility: The Impact of the Current Economic Climate. The report queried senior international mobility professionals responsible for international assignment strategy at a number of the world’s leading companies.
Combined, the mobility managers interviewed from a select group of corporations representing a worldwide employee population of more than 2.2 million employees. Industries represented in this report included: pharmaceuticals, manufacturing, consumer products, industrial services, professional services, information technology, telecommunications, retail, utilities and the financial services sectors.
“This report is a supplement to our 2009 Global Relocation Trends Survey and is an industry-by-industry look at which sectors are being hit hardest – or hardly hit at all -- by the ongoing global economic challenges,” said Scott Sullivan, executive vice president of Brookfield Global Relocation Services.
Sullivan said that 33 percent of companies expect to increase the number of employees they relocate this year, while 67 percent expect to either decrease or maintain the number of employees they relocate.
“Although a higher number of industries are scaling back their relocation efforts, others are seemingly immune and are even benefiting from these circumstances and the economy,” Sullivan said. “This report offers a fascinating look at how economic variables are impacting international mobility.”
The report’s findings pointed to four key trends currently facing multinational companies:
- A reduction in the volume of assignments due to the recession. This is occurring in industries that have been hit especially hard by the economic downturn, including: automobile manufacturing, information technology service and the financial services sectors.
- Changes in the volume of assignments. However, these changes are not directly caused by the recession. This trend is impacting the high technology, engineering, retail, financial and information services industries.
- No impact so far, but companies expect a general tightening soon. These industries include pharmaceutical, food and consumer products manufacturing, and logistics sectors.
- An increase in the number of employee relocations. This trend is primarily occurring in the telecommunications, oil and gas sectors, and with some professional services firms.
Sullivan noted that companies and industries that are experiencing increased relocation activity are typically involved in:
- A merger or acquisition
- Moving into new international partnership arrangements
- Developing emerging markets
- Creating global tools, processes and programs
- Creating a cohesive culture or employer brand
- Closing long-term global capability and skills gaps.
Brookfield Global Relocation Services conducted this study as a supplement to its Global Relocation Trends Survey, which is published annually since 1993. Each year, the Global Relocation Trends Survey provides companies with in-depth information and analysis on global mobility trends. (To obtain a complimentary copy of the Global Relocation Trends Survey or the financial services spotlight, go to: http://www.brookfieldgrs.com/insights_ideas/grts/).
The company will host a complimentary Webinar presentation exploring the findings of this study on Thursday, Sept. 17. Participation in the Webinar is free and limited to the first 100 registrants. To register, go to: http://www.brookfieldgrs.com/insights_ideas/grts/2009_GRTS_Economic_Climate_Webinar.asp
About Brookfield Global Relocation Services
Brookfield Global Relocation Services (http://www.brookfieldgrs.com) is a leading, full-service outsourcing partner of end-to-end employee relocation, assignment management and mobility consulting services for multinational organizations worldwide. The company serves corporations throughout the world and manages over than $2 billion in relocation-related transactions.
Contacts
Siler & Company
Hugh Siler
(949) 646-6966
hugh@silerpr.com