Business Globalization Enhances Global Mobility and Employee Development
Business globalization refers to the expansion of economic activities across national borders and regions, facilitated by advances in technology, communication, and transportation. It has significant implications for both businesses and employees, as it creates new opportunities and challenges in the global market. One of the key aspects of business globalization is global mobility, which is the movement of employees from one location to another for work purposes. Global mobility can take various forms, such as short-term or long-term assignments, international transfers, or remote work.
Global mobility is not only a response to the needs of business globalization but also a driver of it. By enabling employees to work in different countries and regions, global mobility helps businesses access new markets, customers, and resources, as well as diversify their talent pool and enhance their innovation capacity. Global mobility also helps businesses align their strategies and operations with the local contexts and cultures of their target markets and foster cross-cultural collaboration and learning among their employees.
For employees, global mobility offers many advantages for their personal and professional growth. Working in different locations exposes them to diverse perspectives, experiences, and challenges, which can broaden their horizons and enrich their skills and knowledge. Global mobility can also improve their career prospects, as it demonstrates their adaptability, flexibility, and willingness to learn, and increases their visibility and network within the organization and the industry. Moreover, global mobility can enhance their well-being, as it allows them to balance their work and life preferences, and enjoy the benefits of living and working in different places.
According to the latest statistics, global mobility is on the rise. In 2023, it is estimated that approximately 3.4 billion people have been employed worldwide, compared with 2.28 billion people in 1991 – an increase of around 1.1 billion people. The International Labour Organization (ILO) reported that the number of international migrant workers increased by 9% between 2017 and 2022, reaching 169 million. A survey by Deloitte found that 51% of organizations named increased engagement, flexibility, and well-being as important benefits of remote work, and that 72% of organizations planned to increase their investment in virtual assignments and remote work arrangements.
These trends indicate that business globalization and global mobility are here to stay and that they will continue to shape the future of work. Therefore, it is essential for both businesses and employees to embrace the opportunities and challenges that they bring, and to leverage them for their mutual benefit and success.