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Moving, living and working abroad: Achieving a happy and lucrative expatriation in 2011
GLOBAL RELOCATION
PHOTO: SHUTTERSTOCK
RELOCATION4
TIPS
FOR AN EASY MOVE
Moving, living and working abroad: Achieving a happy and lucrative expatriation in 2011
MAKING GLOBALISATION WORK FOR YOU
Ask the expertsNew markets: The implications of the rise of global mobility
Be preparedThe changing laws and regulations worldwide
Real lifeMeet the family that made the move of their dreams
No.1/Dec ’10This is an independent supplement by Mediaplanet
GLOBALISATION WORK FOR YOUWORK FOR YOU
2 · december 2010 An IndePendenT PAPer FrOm medIAPlAneT
The value of the journey - and the destination
Partnering with you today to ensure your organisation is prepared for tomorrow
Mercer has many years of experience working with the world’s leading organisations in designing, implementing and managing expatriate assignment programmes for a globally mobile workforce.
With results on hand from our worldwide surveys and expertise from across the globe, Mercer’s data and web-based tools can help you achieve consistent, competitive and equitable expatriate compensation packages. Unlike other providers, Mercer uses its own data collection sources, combining quality, functionality, accuracy and scope at a reasonable price.
Find out how Mercer can help you build the right expatriate compensation packages. www.imercer.com
Mercer is a leading global provider of consulting, outsourcing and investment services. With offi ces in 41 countries and territories, Mercer brings you factual, objective price information for 295 cities around the world.
Consulting. Outsourcing. Investments.
Travel for trade is not new but, aided by communication and technology, it is now more innovative and far-reaching in influence than ever before, with vibrant and positive effects for companies and their employees both personally and professionally
Global mobility is as old as hu-mankind itself. The ancient mi-gration routes of our earliest ancestors are
well documented and the distanc-es travelled by primitive man still continue to amaze. So global mo-bility is nothing new but its rise and rise has been underpinned by the drive towards globalisation and this, in turn, has been enabled by the massive developments in travel and communication tech-nology that took place throughout the 20th century.
The growth in globalisation has led to major changes in labour mo-bility. Global companies will now frequently select the best candi-dates for a particular role without giving any consideration to physi-cal location. This has trend has al-so been only slightly moderated
during the down turn, according to our members.
Transferring staff across borders for short or long periods, or even for good, adds an extra level of com-plexity to the employer/employee relationship.
Often work permits and visas may be required for both the employee and any accompanying family. In-dividuals may become liable for in-come tax in multiple jurisdictions
Then there is the question of re-muneration and benefits. Does the employer pay this or that allowance?
The employee may have to find appropriate housing, search out suitable education opportunities for their children and ship their household belongings to the new location.
Thankfully there are very rep-utable companies with plans and policies to assist with all these elements.
As Global Mobility is a unique profession, I was convinced that a single body representing the inter-ests of all the professionals work-ing in the industry was needed.
After just two years, the Fo-rum for Expatriate Management (FEM) now has a global member-ship of over 4,700 corporate mem-bers who between them employ over 850,000 cross-border em-ployees. Our goal of being the net-worked community in our field is achieved by an extensive range of both real world and on-line activities.
Brian FriedmanFounder of The Forum for expatriate management
“It’s always a big decision to move your family but it’s been worth it for us”
The Czarneckisrelocated to Australia in 2007
PAge 5
Global RElocation, 1st Edition, dEcEmbER 2010
Managing Director: Willem de GeerEditorial Manager: Katherine WoodleyBusiness Developer:christopher Emberson
Responsible for this issueProject Manager: Hannah butlerPhone: 0207 665 4414E-mail: [email protected]
Distributed with: the Guardian, december 2010Print: Guardian Print centre
Mediaplanet contact information: Phone: 0207 665 4400Fax: 0207 665 4419 E-mail: [email protected]
We make our readers succeed!
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ChallenGes
Reports of the demise of ‘global mobility’ have been exaggerated. Mercer’s own experience, reinforced by our recent International Assignments Policy and Practices Survey, suggests that although the recession has understandably made companies much more cost conscious, the number of international assignments has risen by over four per cent during the past two years. However, assignments to emerging markets are driving this growth.
In reality, relocation practices and policies have been evolving for some time, with companies increasingly keen to see a return on their investment (ROI) in their international assignees. They are achieving this, not by indiscriminately slashing costs, but by reviewing their global mobility strategy and tightening up governance and exception management. So, for example, while there has been a reduction in the number of long-term assignments in favour of more (and less expensive) short-term assignments, companies have also started to integrate mobility with talent management and
are increasingly using international assignments to help develop the careers of their young high-�yers.
What’s more, organisations are also starting to segment assignments by business and assignee need. For example, young ‘Millennials’ at the start of their careers are hungry for international experience, and don’t need the ‘bene�ts’ of the more generous packages given to ‘traditional’ or ‘strategic’ expatriates.
Another trend for companies with large and more complex expatriate populations is to move away from a ‘one-size-�ts-all’ policy in favour of a multi-tier approach designed to re�ect di�erent types of assignment and assignee needs. It can be di�cult to �t individuals from developing countries such as China and India, for example, into a policy developed for Western nationals. What’s more, there may be signi�cant ‘hardship’ or security issues associated with some of the newer destinations, and companies need to adapt their assignment packages accordingly by adding in, for instance, greater hardship premiums.
But while many organisations are understandably reluctant to implement cost-saving measures that reduce the expatriate package, for fear of disengaging good people, there is scope to reduce costs through better programme management. For example, companies are paying more attention to whether they need to send someone on assignment, or whether a local could do the job; they are exerting tighter control of policy ‘exceptions’ – often through a more centralised approach to global mobility management; and they are reviewing relocation supplier arrangements in search of economies of scale.
Global mobility policies and practices will continue to evolve, and managing them is likely to grow increasingly challenging as both the number of countries involved and the range of di�erent types of assignment and assignees increase. Successfully balancing the needs of company and assignee will be critical to success.
Global Mobility in Transformation New trends in a post-recession climate
4 · DECEMBER 2010 AN INDEPENDENT PAPER BY MEDIAPLANET
The secretsof our success
SINGAPORE SKYLINESingapore has been ranked as the easiest place to do business for the second year runningPHOTO: CONTACT SINGAPORE
Singapore’s stable economy and wealth of career opportunities have attracted a vibrant commu-nity of talented professionals over the years - but it is still not always the fi rst relocation destination that comes to mind, especially when competing with other locations in the Asia-Pacifi c region.
With one of the world’s most sta-ble political climates in the world, Singapore has spent the past 50 years investing in developing com-merce and industry. Now, The World Bank, in its Doing Business 2010 re-port, has ranked Singapore as the world’s easiest place to do business for the second year running.
It’s the crossroads of Asia – both geographically and culturally, Kee Ee Wah, deputy executive director
of Contact Singapore, points out: “Singapore is able to o� er a unique blend of the East and West, result-ing in an international society with a global outlook in which it is very easy to adjust and adapt.”
Its reputation for sound fi nancial management has meant more than ever in the recent months of econom-ic turbulence: Singapore continued to experience employment growth in 2009 despite the global downturn,
and was the fi rst country in Asia to come out of a technical recession.
It’s well-known that Singapore has established a robust reputation in many industries, such as fi nance and IT but, as Kee Ee Wah points out, it al-so invests in new growth industries such as interactive and digital media, biomedical sciences and clean tech-nology.
As well as low personal tax and in-fl ation rates and other business ben-efi ts, many also highlight its unpar-alleled quality of life away from the o� ce. “The a� ordable cost of living, low taxes, and e� cient network of public services, safety and extreme-ly low crime rates have led many pro-fessionals to settle here with their families,” Ee Wah points out.
It’s perhaps not surprising that Singapore is consistently ranked as the best place to live in Asia and as one of the most liveable cities in the world – with an amenable climate and a diverse cultural mix evident from the arts and architecture to fi t-ness and food.
EMILY DAVIES
Singapore is ■ the gateway to Asia - around seven hours by air to most Asian destinations.
There are ■ now 7,000 multi-national corporations in Singapore, of which 60% have their regional headquarters in the city-state.
One in three ■ people living in Singapore is from abroad.
FACTS
Kee Ee WahDeputy executive director, Contact Singapore
NEWS
LOOK FOR ALTERNATIVES
AN INDEPENDENT PAPER BY MEDIAPLANET
LOOK FOR ALTERNATIVES
1TIP
Question: ■ Why is Singapore such an ideal destination to relocate to?
Answer: ■ Often overlooked, Singapore combines a global outlook with an international community and strong economy, bringing a wealth of opportunity for many
Following significant invest-ment and development in both infrastructure and provision, Singapore today holds global-ly leading positions in numer-ous areas, including manufac-turing of electronics and petro-chemicals.
But while the city-state re-mains an attractive base for complex manufacturing activ-ities, it is now also seeking to move towards a more knowl-edge-centric and research-based economy, says Kee Ee Wah, deputy executive director of Contact Singapore. This em-phasis on innovation, capital-intensive activities and a glo-balised workforce has shaped Singapore into a city-state “where Asian companies can internationalise and where American and European com-panies make their entry into Asia”, she says.
Further to the developments in the research and develop-ment sector, the IDM industry is also flourishing in Singapore as the industry benefits from a number of investment pro-grammes, including the alloca-tion of SG$500 million over the next five years to fund the de-velopment of a strategic IDM research programme and SG$11 million for a IDM Institute to help boost training.
There are also a number of developments under way to in-crease the capacity of the fi nan-cial district, including the Ma-rina Bay Financial Centre de-velopment – and now, says Een Wah, Singapore has implement-ed a number of changes in the past year to further its vision of becoming a legal services hub.
EMILY DAVIES
How to grow a futureAlways quick to progress, Singapore has undergone even more dramatic development in recent years and made key changes and significant investments
december 2010 · 5An independent pAper by mediAplAnet
“You know things are wrong when you see escalator rage on the Un-derground,” recounts Marek, who faced a four-hour daily commute to his senior IT job in London at an investment bank.
While the Czarneckis had often talked about living abroad, the tip-ping point came with the introduc-tion of tax changes in the UK affect-ing self-employed IT professionals. The couple also felt increasingly concerned for the futures of their three young children. “It was all getting too hard in the UK,” Marek says. “We decided it was time for a better life.”
The couple chose Australia for its lifestyle and career opportunities: after researching they decided on the southern state of Victoria as a place to investigate, with its healthy
economy, temperate climate, modern infrastructure and safe communities.
In 2007 they embarked on a ‘scouting trip’ there, renting a house in a beachside suburb and spending a month exploring Melbourne, con-sistently rated one of the world’s most liveable cities by The Econo-mist, and the surrounding regions.
“We liked Melbourne right from the start,” Marek recalls. “It’s a big city but everything here works well. It doesn’t have the pressure or cha-os of London.”
The Czarneckis returned to Victo-ria for good in September 2007, em-ploying a relocation agent to help them settle. The couple chose Sanc-tuary Lakes, a resort-style residen-tial estate set around an 18-hole golf course designed by Australian golfer, Greg Norman, with beaches, parklands and the city all close. It didn’t take long for Hazel and their three children, aged 10, 4 and 2 to find their feet.
Marek arrived on a skilled inde-pendent visa without a job but was confident he would find a position at the level he wanted - Victoria is a major ICT centre with skills de-mand across many technical ar-eas and the State Government of-fers advice to help migrants find employment.
He now works at Australia Post on a major project to streamline its IT systems: “challenging but it doesn’t overwhelm my life,” he says. “I’ve cut my commuting time in half and I’ve made the move into management so my career is doing very well here.”
Victoria has transformed the Czarneckis’ family life with its re-laxed pace and the “endless choice of social and cultural things to do,” says Marek.
The Czarneckis became perma-nent residents in 2008 and plan to become citizens. “It’s always a big decision to move your family but it’s been worth it for us,” Marek says. “In the UK I worked just to get through life - here, I work to enjoy my life. We couldn’t go back now - our life is much better here.”
Question:■■ Why did marek czarnecki and his wife Hazel leave the UK in 2007 - and why have they not looked back?
Answer:■■ the czarneckis had a comfortable life with their children in Ascot but were increasingly frustrated by the effort
emily davies
How we made it
Our happiness project
A better Lifethe Czarneckis swapped their life in the UK for Australia and love the change of pacePhoto: tourism Victoria
MarekCzarneckileft the UK in 2007
inspiratiOn
Well-resourced
1 Victoria offers exciting life-style and commercial op-
portunities along with its strong economy and advanced infra-structure. Victoria is well-re-sourced to get a business up and running and it is relatively quick and easy to officially register and conduct your business
Australia’s leader
2 It’s worth noting that Victo-ria’s industry strengths are
in the agricultural, food, manufac-turing, medical research, financial services, tourism and cultural in-dustries, while Victoria is Austral-ia’s leader in the new, knowledge-based industries such as informa-tion and communication technol-ogy, biotechnology and environ-mental management.
transparent system
3 Reasons that many business migrants choose Victoria in-
clude its a open and transparent regulatory system, an AAA econo-my rating from Standard & Poor’s and Moody’s Investor Services, an abundance of raw materials, com-petitively priced office space and development sites and an Asian time zone.
employment options
4 While smaller businesses underpin the state’s econo-
my, with over 300,000 of these enterprises playing a critical role in supporting and servicing the state’s manufacturing, service and primary industries, Victoria is also the location of six of Aus-tralia’s 10 largest employers.
WWW.liveinvictoriA.vic.gov.AU
wHy businesses sHould consider Victoria
4
6 · DECEMBER 2010 AN INDEPENDENT PAPER FROM MEDIAPLANET
“In moving to Australia on any visa, the traveller should be aware of the authorised length of stay, their en-titlement to work, study or do oth-er things while on the visa they are using and when they are obliged to leave the country”, says Dr David Crawford, partner, Fragomen LLP, London. “More than that, any trav-eller should be aware of any entitle-ment of other family members, if they are travelling as a family.”
If seeking advice on visa op-tions, it is vital that people set out what they would like to do in Aus-tralia and seek the right visa so-lution, explains Dr Crawford. He points out that the advantage of many visa categories is that they o� er options for many people: “In some cases intending applicants
may not qualify for a visa now but if they understand what options exist they may be able to become eligible for a visa that suits them - for example, through education or work experience.”
When seeking legal advice, rep-utation and recommendations are often vital, Dr Crawford cautions: “This is especially important as vi-sa criteria are regularly subject to
change - an unfavourable visa de-cision will potentially have signifi -cant consequences for an applicant and their family. It is also sensible for a consumer to understand what they want from advice and be able to explain it - initially it may be written advice on options or it may be help throughout a process.”
In Singapore, it is illegal to work on a visit pass, points out Mark Buchanan, partner at Fragomen Singapore: there are draconian penalties for overstaying or being in breach of the work pass require-ments. “Therefore, it is important to apply for the right type of pass de-pending upon the intended plans,” he says, and the easiest approach for professionals is usually to apply for a company-sponsored employ-ment pass. However, there may be a number of options depending up-on whether the individual is being transferred to Singapore by their company, coming to Singapore to look for a job or wants to apply for permanent residence in order to be able to live and work in Singapore.”
SHOWCASE
Know the letter of the law
PASSPORT CONTROLMaking sure you have the right visa for you and your family is essentialPHOTO: CHARLES TAYLOR
EMILY DAVIES
It is essential ■ to fi nd a provider with in-depth knowledge of the different options to make sure that the correct approach is taken for the destination.
In Singapore, ■ for instance, the authorities have tightened up the immigration criteria over the last year, especially for permanent residence applications.
FACTS
Dr DavidCrawfordPartner, Fragomen LLP, London
NEWS
KNOW THE LEGALITIES
AN INDEPENDENT PAPER FROM MEDIAPLANET
KNOW THE LEGALITIES
2TIP
Question: ■ Navigating the legal processes of moving abroad is not always easy. How can problems be kept to a minimum?
Answer: ■ Know your situation and its particular demands – and always seek expert advice
What has happened recently ■
in the global immigration market?
! The global recession has accelerated a trend to-
wards increased enforcement, and this increased focus on im-migration compliance has tak-en three primary forms:
new legislation, introduc- ■ing severe penalties for non-compliance and tightening re-quirements generally, has been brought in
more restrictive interpreta- ■tion of existing legislation is taking place - often more di� -cult to anticipate, and this can be focused on individual appli-cations or leave little room for argument; and,
increased resources for en- ■forcement – such as more peo-ple for site visits and invest-ment in technology.
What has been the effect? ■
! The changes in Australia and Singapore are exam-
ples of this, but the trend is widespread - from the US, to the UK and EU, through Asia and even many of the emerging markets of Africa. Countries are having to respond to the strong domestic political pressure to protect jobs through enforce-ment of immigration rules, which is in many ways a form of protectionism, but not neces-sarily recognised as such. The challenge for governments and business is in balancing this do-mestic political pressure with the reality that it would be counter-productive to stymie business activity at this time, which includes the movement of skilled workers to meet needs.
QUESTION & ANSWERBrendan RyanRegional managing director, Europe, Middle East and Africa, Fragomen Global
Attracting talented individualsto the United Kingdom forwork and investment is criticalto the UK’s economic recovery.Protecting global mobility isessential to retaining the UK’sreputation as an attractiveplace in which, and fromwhich, to invest and dobusiness. The governmentopenly recognises this andfrequently stresses the need forthe UK to show the world thatit is ‘open for business’.Similarly, the consensusamongst businesses in the UKhas consistently been that,curtailing the entry of skilledmigrants, who enhance theproductive capacity of theeconomy (not to mention taxreceipts), will adversely affecttheir individual commercialperformance and hamper their,and ultimately the UK’s,recovery and economicgrowth.
Retaining that talent is, ofcourse, as important asattracting it in the first place.However, present economicconditions coupled with anincreasingly restrictiveimmigration system could leadto a move of skilledindividuals and business inthe wrong direction. Hedgefunds in particular, faced with
tax rises, increased regulationand mounting difficulty inmoving and hiring peopleneeded in the UK maycertainly feel that the grass isgreener on the other side.
Attracting thebrightest and the bestMeanwhile, the governmentwants migration of ‘thebrightest and the best’ to be thenorm, whilst reducingmigration to the tens from thehundreds of thousands by theend of Parliament, andbelieves that the presentsystem is not yielding thatresult as effectively as it could,relying on statistics which itsays show that a number ofthose who applied to come tothe UK as highly skilledmigrants are in fact filling lowskilled vacancies.
The major overhaul of the UKimmigration system inFebruary 2008, introducing thePoints Based System, sawaround 73 existing work routesreplaced by the 5 tier system(one of which (for low skillworkers) was never broughtinto force.
The system, it is said, has notdone enough. The governmentnow wants numbers
drastically cut down but stillneeds the brightest and thebest to keep coming to the UK.As a result, 6 April 2011 willsee the roll-out of some majorchanges. On 23 November2010 the Home Secretary,Theresa May, laid out herplans for a permanent cap andsignificant reforms to UKimmigration law to Parliament.Although economic migrationthrough the Points BasedSystem accounts for only 20%of overall migration, the initialfocus has been on enforcingany reductions through thatvery system with a moreselective approach tomigration.
For those who fit the bill, theyshould find the processbecomes easier. For those whodon't fit, doors are beingclosed.
This creates attractive optionswith paths to settlement forthe chosen ones, they beinginvestors, entrepreneurs,people with exceptionalscientific, research or artistictalent, and high earners withjob offers. Prospects arelooking up for the primaballerinas and Nobel prizewinners of the world.
However, it also makes the UKa less attractive option forstudents, and thosetransferring intra-company inparticular. Students belowdegree level may facerestricted entry in the future.Degree level students will facedifficulty in getting intoemployment with thetraditional bridging category(Tier 1 Post Study Work) likelyto be closed and no self-sponsor routes otherwiseavailable.
Thus, those thinking ofrelocating into, or
contemplating moving out of,the UK need to be aware of thechanges and the impact theywill have at all levels.
What next?Unless you haveentrepreneurial spirit, moneyto invest or are fortunateenough to be one of the 1000deemed exceptionally talentedby the government, the onlyeffective way in is with a joboffer by a company authorisedby the government to sponsoryour entry to the UK. Routeswill continue to be availablefor students but withlimitations. The future of thestudent category is subject to apublic consultation. Routeswill also exist for footballersand some other distinctivecategories.
Despite closed categories andreduced numbers, thegovernment is confident that,based on its statistics, businessneeds will be met and the UKwill still be an attractiveoption.
Fragomen is a highlyregarded global immigrationlaw firm providingcomprehensive immigrationservices for internationalassignments, permanenttransfers and high net worthindividuals coveringcompliance policies andpractices.
For more information, pleasecontact Seema Farazi,Counsel of the UKImmigration practice, [email protected] or on+44 (0)20 3077 5110.
www.fragomen.com
Is the UK open for business?Seema Farazi, Counsel, Fragomen LLP
Fragomen_Ad:Layout 1 13/12/10 15:23 Page 1
8 · december 2010 An independent pAper by mediAplAnet
Whether you have a move already planned, or are just considering it – relocating abroad is a complex proc-ess potentially full of stress, regard-less of your final destination. Throw in additional factors such as a fam-ily, precious belongings, pets and a complicated journey and the possi-bilities for stress are magnified – but it does not need to be difficult.
Moving abroad can throw up all kinds of problems, from the predict-able to the unexpected, points out Paul Swindon, commercial manag-er at the British Association of Re-movers – but most are entirely pre-ventable. “For instance, some things in your home might not be permit-ted in the country to which you’re moving – such as certain plants and
seeds, foods and untreated wood furniture,” he points out. “Your cho-sen remover will know the rules and regulations and talking to an expert on can help avoid these issues at a later stage.” One of the biggest mis-takes, he points out, is not knowing
the requirements of your destina-tion with regard to items permitted until it’s too late.
Much can be done to minimise stress with regard to the logistics of moving when moving abroad, Paul says. In the lead-up to your move, make sure that you speak
to your removal company on a regular basis as even the slight-est change in your circumstances may affect your move, he advises. “They will also be able to answer any questions that you may have, therefore helping to alleviate many of the common stress fac-tors on moving abroad.”
Much of the advice related to a move abroad sounds basic – but is essential, Paul cautions. He high-lights the value of being highly or-ganised and proactive, and the val-ue of always seeking out a reputa-ble organization for your move.
“Make sure that you use an expe-rienced and professional overseas removal company,” he says. Look for recommendation and ask for referrals. “Decide in advance what is to be packed and what to take with you - if you can’t live without it, take it with you!” Do not even consider planning your move for the day of your flight, he points out – always move a day or two before you fly. “Involve children in the moving process – it helps them get used to the idea of moving abroad and their opinion matters too,” he suggests. And finally, pets: “Ship-ping pets is a specialist business - speak to your removal company for more advice.”
Question:■■ moving abroad is a potential minefield of difficulties - how can difficulties be avoided?
Answer:■■ being informed and being prepared will go a long way to making the logistics of your transition as trouble-free as possible
emily Davies
leader to leader
Who wants a smooth move?
Paul Swindonbritish Association of removers
inspiration
Profile Guardian advert outline.indd 1 15/12/2010 18:03
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10 · DECEMBER 2010 AN INDEPENDENT PAPER FROM MEDIAPLANET
“Very often when I’m talking to peo-ple who are moving to Australia I’ve found that they tend to think that opening a bank account is going to be di� cult and they’re not going to understand the banking practices there,” says Paul Bailey, Group Op-erations Manager, Migrant and Ex-patriate Banking, National Austral-ia Bank. “This is really not the case and there are several banks that can help customers open their accounts before they arrive.”
Another key mistake often made, says Paul, is that customers believe their credit history and rating will follow them to their new coun-try - which is also not the case, he says. “When someone arrives in a
new country they are starting from scratch, so it is important that they have the documented evidence to back up their initial applications for fi nance,” he advises. “Our sug-gestion is for them to take at least 3 months’ worth of bank statements and payslips and in some instances it is also possible to ask companies to honour no-claims bonuses that customers had in place in the UK, so we suggest that customers take with them their fi nal insurance certifi cates for their homes and cars that they have insured in the UK.”
It may seem obvious but perhaps one of the most important things to do is to start your research ear-ly, says Paul. “Looking online at the many resources available can help a great deal. We have a simple on-line application process that takes about 10 minutes to complete and most of the time we are able to open accounts for customers in about 48 hours - at this point we provide all
of our customers with a dedicated named banker, who understands the unique needs of a migrant, so they know who they will be see-ing in Australia to fully activate their account, receive their bank cards from and ask questions to be-fore they arrive.” Customers can also provide their new employers with their account details to en-sure there is no delay in receipt of their all-important fi rst wage, he points out.
“When moving abroad the cur-rency exchange rate is crucial for customers so that they have the maximum amount of funds to achieve the dreams they have as part of their move to a new coun-try,” Paul points out. “We suggest that customers talk to their banks or a currency agent to chat through the numerous options they have to transfer money abroad - using an agent to monitor the rates for cus-tomers takes a lot of stress out of the process.” Most crucially of all, says Paul, is to get your account opened early - and well before you arrive in your chosen country.
Question: ■ Why is moving abroad sometimes obstructed by often the simplest mistakes - for instance with regards to everyday but important matters such as personal fi nance.
Answer: ■ Avoid unnecessary stress with thorough research and preparation – and take expert advice wherever possible
EMILY DAVIES
HOW TO MAKE IT
How to fund the dream
ENJOYING THE MOVESetting up a bank account when you arrive to your destination can be easy if you arrive preparedPHOTO: ANDREY YURLOV/
SHUTTERSTOCK
Paul BaileyGroup Operations Manager, Migrant and Expatriate Banking, National Australia Bank
INSPIRATION
What are the common ■
mistakes made with regard to managing the costs of relocation?
! All too often companies se-lect a sole candidate for re-
location without thinking about costs. Moving a single person can be far cheaper than moving a married couple with school-age children. Companies need to control cost in the four big ar-eas of property selection, ship-ping household goods, reloca-tion allowances and tax e� -ciency. The biggest single mis-take is telling the potential as-signee that he is the only candi-date for the job!
How can these be avoided? ■
! Decide whether you want the assignee to live as an
expatriate or as a local. That will determine where they live, what allowances they get and how they are perceived by their new work colleagues. There is a growing trend away from tradi-tional expatriate packages aimed at keeping the assignee whole to more modern “local plus” packages. There is no “one size fi ts all” solution but con-versely companies should think very carefully before allowing any exceptions from standard policy as precedents, once set, only ever ratchet upwards.
How can costs be kept as low ■
as possible for all concerned?
! Consider something inno-vative. Some companies
now offer “flexpat” packages where assignees get lump sum allowances which they can re-tain (in full or in part) if they do not spend the entire amount. Property gainsharing , for exam-ple, may encourage assignees to take a smaller apartment if they can keep some of the cash saved in this way.
QUESTION & ANSWERBrian FriedmanFounder and CEO, Forum for Expatriate Management
BE PREPAREDBE PREPARED
3TIP
12 · DECEMBER 2010 AN INDEPENDENT PAPER FROM MEDIAPLANET
Question: ■ Moving abroad can be isolating - and can also bring with it a host of time-consuming domestic demands. What’s the solution?
Answer: ■ Serviced apartments provide comfort and convenience, catering to the many needs thrown up by relocation
Serviced residences are an excellent solution for anyone considering a move abroad - combining hotel services with the space, facilities and privacy of apartments, they en-able executives on relocation to ful-ly enjoy their lifestyle.
But to get the best out of a serv-iced apartment it’s vital to know your own needs – and expectations, points out Rebecca Hollants Van Loocke, regional general manag-er in the UK for The Ascott (Ascott). For instance, the Citadines-brand-ed serviced residences, which were acquired by Ascott in 2002 and then introduced to the Asia Pacifi c region in 2006, are designed for independ-ent travellers and provide residents with the fl exibility to choose the services they require – whereas oth-er residences, such as Ascott’s Som-
erset-branded serviced residences, are best for families and often fea-ture amenities such as indoor play-rooms and children’s swimming pools. And depending on whether their families are relocating with
them, there is a wide range of apart-ment sizes as well as styles.
Serviced apartments can ease the stress of moving abroad, and not just as a home-from-home with all asso-ciated comforts. Executives on relo-
cation are often concerned whether they can assimilate into their new environment, says Rebeccca – “so much e� ort is made to provide resi-dents with that special feeling of be-ing in their ‘second home’ when they stay with us”, she says. For instance, residents’ programmes including city tours, workshops on local culture and language classes, are organised, providing opportunities to socialise as well as culturally acclimatise.
For residents with children, sta� can help arrange for babysitting services and provide them with useful information on schools and even help arrange birthday parties (for children – and for adults, too). In addition, serviced residences are fully furnished and equipped with cooking facilities and modern con-veniences such as a fridge, wash-ing machine and television while internet and phone connections are instantly available on arrival. The idea, and ideal, is that execu-tives can move into their new ‘sec-ond home’ in serviced apartments without any of the hassle – and with all the fun.
The key to a home away from home
LIVE IN COMFORT For ease and comfort serviced apartments could be a viable option PHOTO: SHUTTERSTOCK
EMILY DAVIES
To find the ■ right serviced residence, consider this checklist:
Location: ■ from proximity to shopping malls and restaurants, to central business districts, embassies and government offi ces, to transport links: what’s important to you?
Facilities and services ■ available
at the serviced residence: from meeting rooms and business centre services and even help with grocery shopping, what would you like?
Lifestyle needs: ■ is there a gym, pool or Jacuzzi, to help you recharge?
HOW TO FIND THE RIGHT SERVICED RESIDENCE FOR YOU
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FIND OUT WHAT IS RIGHT FOR
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FIND OUT WHAT IS RIGHT FOR
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As companies expand their global operations they are send-ing expatriates to new host loca-tions often with harsh or difficult living conditions and sourcing assignees from non-traditional home locations: they have had to find new and innovative ways of encouraging expats and their families to accept an assignment.
Companies need to put in place good pre-assignment prep-aration and destination services support for assignees and their families on arrival including language lessons, cross-cultural training, briefing on the assign-ment location, the job and com-pensation package.
Companies need to be more open and flexible and accept that a “one size fits all” policy may not work in these situations, and be open to looking at alternatives. In addition families from differ-ent cultural backgrounds may have different needs that need to be accommodated. The poli-cies of the past may not work for new and emerging markets.
Companies should continue to refine their business (and people) strategies and the role of interna-tional careers to ensure a return on investment for the company, the individuals and their fami-lies. They should also monitor the assignee population, its de-mographics and the needs of the group as they evolve and adjust approaches to recognise this.
Many companies are now re-alising that it’s not simply a ques-tion of the more money they give people, the better. In the past 4-5 years we have seen a shift in this: the old elements of support that used to be seen as optional and “soft” – intercultural training, language training and spousal training – are now seen as essen-tial, by employer and employee.
Individuals should be fully supported during the assign-ment move, and have access to assistance for the duration. More importantly corporate owner-ship should be established at the outset and the “owning” manag-er should maintain contact for the duration of the assignment.
We encourage our clients to make so-called “soft” services of support and training mandatory and to put them into policy. Re-search and support is key: in ad-vance and once in place, with con-stant contact and assistance with anything from a plumber to social introductions. We encourage eve-ryone to realise that happy people will increase productivity.
This industry has always been involved with new and emerging markets: over time these become developed economies. More inter-esting is the impact of finding tal-ent in these new markets and mov-ing them globally. The traditional model has a very Western bias and some of the basic assumptions are now being challenged.
People are now moving to more remote and challenging loca-tions: we are seeing a significant increase in moves to countries such as Kazakhstan and Iraq. Pre-viously, relocation was seen as an opportunity for a nice experience. Now, people are going to places they might think twice about and may have to be more persuaded.
Question 1:How has the expatriation industry changed with new markets and less-developed economies emerging?
Question 2:How must companies adapt to this?
Question 3:How can it be ensured that people don’t feel let down or isolated as they relocate?
Siobhan CumminsPartner and Head of the Centre of Excellence Mobility for EMEA, Mercer
Helen WaltonDirector of global mobility, AstraZeneca
Miriam DuiganDirector, Pricoa
© 2011 Prudential Financial, Inc., and its related entities. Prudential Financial, Inc., of the United States is not affiliated with Prudential plc which is headquartered in the United Kingdom.
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