SMU-IE Singapore Business Growth and International HRM Masterclasses 2016

Will your job still exist in 2030? What will the workplace look like in 15 years’ time? What does this mean for employers and employees? A 2014 study launched by CBRE and Genesis discussed how workplaces will change and alongside with it, how employees will change. The people agenda will take on more urgency as to how people are employed and deployed; where they work, what their motivations are, become top concerns leaders in organisations would have to grapple with. Clearly, accelerated globalisation, climate change, demographic shifts (war for talent rages on), digitalisation, individualism, and technological convergence are mega trends that will significantly impact our workplace and people.

Amid the mega trends, people issues are the top most concern as found by a recent study by the Singapore Human Capital Leadership Institute. In fact the number one issue that keeps regional HR directors awake at night is that of identifying and developing the next generation of leaders.

Companies need to stop thinking of employees as family or free agents, and start thinking of them as “allies on a tour of duty”. The most globally competitive organisations align their talent management practices with the strategic decisions regarding where and when to send employees as international assignees. These organisations know who they have on international assignments and why they are there from the perspective of the assignments’ strategic goals. In turn, these organisations are able to leverage the competencies gained from the international assignees’ experiences upon their return and retain the entrepreneurial employees for their business needs to succeed in this networked age.

However, while goods and services today can flow across borders seamlessly, the same cannot be said of human capital.  International assignments are often still seen as expensive and administratively challenging.  The complexities of cross-border mobility are further exacerbated by diverse compliance requirements and the individual expectations and circumstances of each employee.

Yet, as organisations grow, expansion overseas become inevitable and the need to move employees overseas become critical. It is therefore, imperative for companies to have well thought through HR frameworks on policies and processes that are effective, affordable and scalable.