- 53% of large corporations in Singapore intend to increase or maintain international assignments while 62% of small and medium-sized enterprises (SMEs) are planning to reduce them
- Singapore has the highest proportion of companies (45%) looking to increase shorter-term assignments
For most multinational corporations, talent mobility has always been a cornerstone of a comprehensive workforce strategy. Enter the Covid-19 pandemic: borders were closed, people were grounded, and we resorted to remote working - a model now widely adopted across the globe.
Evolving landscape of global mobility programmes post-pandemic
Understandably, Covid-19 has resulted in a slowdown of international assignments. However, other pain points and considerations have been holding back organisations for a long time, even before the pandemic.
These factors include:
- High cost of international assignments
- Administrative challenges amid changing regulatory and compliance requirements
- Increasing need to satisfy diverse employee expectations against an ongoing war for talent
- Rise of remote and hybrid working supported by enhancements in communication technology
- Larger local talent pool
These are all crucial considerations employers need to keep in mind as they evaluate the most suitable way to resource their business, how they can better support globally mobile employees, as well as attracting and retaining talent.
As we enter the post-pandemic age of work, is there still a place for global mobility programmes?
Based on our findings, global mobility will continue with an increased focus on senior-level assignments, strategic hires, relationship-building and talent development roles. We have identified three key profiles in terms of how employers view international assignments moving forward:
- Maintain - More likely to increase or maintain its current volume of international assignments
- Reduce - Decreasing international assignments, instead choosing to substitute with short-term assignments, remote working and hiring local talent
- Localise - Shift from international assignments to local hiring entirely
At a global level, more than half (57%) of large corporates are looking to ramp up or at least maintain international assignments at current levels. However, the results paint a different picture for SMEs, with more than half (51%) of respondents in all markets surveyed falling into the Reduce or Localise profile.
Using Singapore as a case study, 53% of large corporates fall into Profile 1, with nearly 60% saying they will increase international assignments. However, as many as 62% of SMEs in the nation fall into either Profiles 2 or 3, the highest proportion among all markets surveyed. At the same time, Singapore also has the highest proportion of companies (45%) looking to increase shorter-term assignments.
The future of healthcare support for talent mobility
When selecting a healthcare partner, benefits and service excellence at the right price are the fundamental criteria. Employers are keen to ensure employees stay healthy and productive and view health insurance as a major contributor to talent acquisition and retention. As such, many now place high importance on benefits and services that support overall health and well-being, including the mental health of their employees.
When asked what benefits are of most interest to companies as employers, stress management (33%), mental health support (30%) and wellness consultancy (30%) come out on top in Singapore.
As mentioned above, global mobility programmes come in different shapes and forms. There is appetite for flexibility in plan design to cater to different scenarios, but our respondents also expressed that too much flexibility can introduce complexity for employees and more work for HR and mobility managers. Structured plans are preferred as they bring simplicity and help encourage employee engagement. So, what’s important is having a variety of plan options to meet the needs of mobility managers and the employees they service.
Employers should choose health insurance plans that best meet the needs of their employees, depending on which profile they belong to.
For those in Profile 1 with many expats that are on long-term assignments and who travel frequently, an international insurance plan which covers their medical needs wherever they are is essential for peace of mind. Adaptations will need to be made for those in Profile 2 who are reducing long-term international assignments and adding more short-term assignments to the mix. Finally, for those in Profile 3 who are moving away from international assignments, a domestic insurance plan is the way to go.
Furthermore, given the high cost of international assignments, employers are keen to put some cost containment measures in place. Some ways that our respondents in Singapore use to manage cost include incentivising employees to use in-network doctors (46%), encouraging employees to use telehealth (44%) and introducing a tiered plan (41%).
Over to you
In a competitive talent market where candidates increasingly value their well-being, a good compensation package, a comprehensive healthcare plan, and work arrangements that fit the employees’ priorities are all key to attracting and retaining employees, especially when it comes to the globally mobile. Having the right mix of international assignments and local talent and complementing it with the most suitable healthcare solutions can make a huge difference to the cost effectiveness of your workforce strategy and how well employees feel supported.
About the Research
This research was conducted from January to March 2022 with Cigna Healthcare’s SME clients and brokers in one-on-one interviews across 8 markets, including Singapore (10 Brokers; 3 Clients). Interviews included mainly clients with international plans.
Cigna Healthcare also commissioned research with our client and broker contacts and employers to identify how the international healthcare market is changing and how Cigna Healthcare can best adapt to these changing needs. Quantitative interviews took place from February to March 2022 with 318 employers.
