Despite economic headwinds, talent mobility remains key to business growth in Canada

According to the results of a recent survey, many of Canada’s leading businesses view talent mobility as a critical tool for driving business success and expanding markets.

Talent Mobility
Conducted by the Canadian Employee Relocation Council (CERC), the survey polled 75 organizations, representing most of the major industry groups in Canada about their mobility management practices."Given the current state of the Canadian economy, we weren't surprised to see that a third of the companies are bullish on their international moves to support business expansion outside Canada", said Stephen Cryne, President and CEO, Canadian Employee Relocation Council."However, this strategy is dependent on the ability to acquire and move top talent which involves a thorough understanding of international tax, visa and immigration compliance not to mention the impact a move can have on the employee's family."The bi-annual survey, conducted between February 1 and April 30, 2015, found that technical/professional and skilled trades account for the majority of international transfers, followed by management personnel.While the majority of companies expect no change in volumes for permanent moves, 25 per cent are preparing for an increase in long-term assignments and 33 per cent of companies expect increased numbers of short-term assignments in the next 12 months."The anticipated increase in short term international assignments is largely due to greater business opportunities, business expansion and in some cases cost reduction measures", added Mr Cryne."When you look at industries such as manufacturing where domestic performance is down, focusing on international markets makes sense, particularly where you can leverage a lower Canadian dollar."Key findings:
  • Europe, the Middle East and China are the top three destinations for international moves.
  • The average cost of an international transfer ranges between $110,000 and
    $125,000.
  • A three year international assignment can easily top $1 million when taxes, housing, schooling and international medical care are factored in.
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