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Survey highlights career benefits of expatriate assignments

INTERNATIONAL REWARD

Survey highlights career benefits of expatriate assignments

Executives looking to advance their career should consider an expatriate assignment, according to a survey by Mercer Human Resource Consulting.

The survey of 23 multinational companies found that, as well as transferring skills, career development is a major driver of expatriate assignments. As many as 62% of participants said that more than half their top executives had been on overseas assignments.

Key survey findings

  • Assignment failure: The two major causes of assignment failure are the "inability to demonstrate an international mindset" and "poor leadership skills". "Change aversion" and "lack of networking skills" were also cited as problems.
  • Candidate selection: Only 48% of participants have a formal selection process for placements. Of those that do, the majority use interviews as the main selection tool.
  • Evaluation: Only a minority of companies (13%) formally measure the success or failure of expatriate assignments.
  • Costs: Nearly half the participants (41%) do not monitor the costs of expatriate assignments. Of those that do, all measure pre-assignments costs, 50% assess costs during the assignment and 21% measures post-assignment costs.

A final word

"Measuring expatriate costs gives companies far greater control over assignments, and helps to ensure they get value for money. The cost of an expatriate can be at least three times that of a domestic employee, and shareholders will want to see a return on the investment in these individuals." — Lesley Lorraine, European principal, Mercer.

Want to know more?

Title: 2002 Expatriate Risk Management Survey, Mercer Human Resource Consulting.

Methodology: The survey examined expatriate assignments that were typically over one year's duration. Of the 23 participant companies, the majority were parent companies based in Europe (78% have headquarters in the UK or Continental Europe). The majority reported a global sales turnover of more than £1,000 million.

Availability: For more information about the survey, contact Lesley Lorraine at Mercer in London, tel: 020 7802 3767, email: lesley.lorraine@mercer.com.

To read the press release online jump to . . .

www.mercerhr.com/pressrelease/details.jhtml?idContent=1065135

Mercer Human Resource Consulting is the largest consulting firm of its type in the UK, "helping organisations create business value through their people". It employs over 3,500 staff in 17 office locations in the UK, serving 7,000 corporate clients.

www.mercerhr.com

Posted 2 September 2002