While a vital function for international organisations to be successful in a global marketplace, Global Mobility has long been regarded as creating significant financial and operational complexity.
Typically, international assignees make up just 1-2% of the workforce yet they create a substantial workload and are usually three to four times more costly than a domestic employee.
Why? Because Global Mobility is a highly complex operational function that requires a collection of business processes to take place in multiple jurisdictions in a variety of currencies.
Organisations often rely on external specialist vendors to deal with relocation, compliance and the ongoing management of assignees. With data and payments dispersed across internal and external functions and systems, the costs are high and inefficiencies great.
In Global Expat Pay’s experience support costs alone are 25-40% higher than necessary with a significant proportion of each vendor’s costs related to data collection and validation.
But this doesn’t have to be the case…
Global Expat Pay has recognised the challenges faced by the sector and teamed up with Western Union Business Solution to develop a platform that allows the consolidation of data management and payments into one place. It integrates data from multiple vendors, systems and sources, to deliver insights and reporting that help drive strategic decision making and forecasting.
Functions – such as data provision to vendors, cross charging reports, payroll instructions and tax authorisation lists – are all automated, increasing accuracy and freeing up resource to focus on more business impactful activities.
And, with access to real-time exchange rate quotes and a secure global financial network through our Western Business Union Solutions partnership, intermediary fees are reduced.
Download our report
Global Expat Pay’s joint report with Western Union Business Solutions looks at the challenges faced by today’s Global Mobility operations, and how organisations can reboot the current Global Mobility operations model. Download it here.
Alternatively, get in touch. We’d love to tell you how we’re making Global Mobility operations more efficient.