GMAC Global Relocation Services to Offer Free Online `Webinar` November 22 to Present Comprehensive Analysis of the Past Decade`s Relocation Trends
OAK BROOK, Ill.--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Nov 16, 2004--Responding to many employees` hesitancy to accept overseas assignments due to family concerns and job related issues, a growing number of companies in America and throughout the world are offering programs and services aimed at easing the transition to a new country, according to GMAC Global Relocation Services.
Analyzing data going back 10 years to the first time the company published its Global Relocation Trends Survey, GMAC Global Relocation Services found that 40 percent of companies surveyed in 2003 offered education and training support for employees` families. In 1993, the first year of the survey, only 15 percent offered education and training support for families.
GMAC Global Relocation Services will offer a free online ``Webinar`` presentation and analysis of its 10-year Global Relocation Trends Surveys on November 22 at 10 a.m. (CST). To register, contact Gerianne Salzbrunn at 630-427-2068 or [email protected].
The comparative analysis also found that nearly a quarter of companies (24 percent) offered career-planning assistance to employees` partners who relocated with them in 2003. Only 15 percent of companies offered such assistance a decade before.
However, company officials said firms still need to do more in this area: Last year, 86 percent of relocating employees were accompanied by their partners, half of whom were employed before the relocation. But only 16 percent of them were able to find work upon relocating.
``Not surprisingly, the comfort and well-being of immediate family members - from children`s schooling to partners` ability to find work - is of paramount concern for expatriates,`` said Rick Schwartz, president and CEO of GMAC Global Relocation Services. ``Our analysis clearly shows that more and more companies are realizing this and are taking solid steps to address employees` concerns. It will be very interesting to observe how these trends continue to transform companies` relocation policies and practices over the next decade.``
Schwartz said the biggest shift observed in relocation trends was the length of expatriate assignments. In 1997 (the first year GMAC Global Relocation Services examined assignment length), more than 80 percent of expatriates spent between one and three years on assignment. By comparison, in 2003 the overwhelming majority of assignments - fully 70 percent - were for less than one year, as companies` attempted to contain costs in an increasingly competitive international business environment.
``Increasingly, clients are asking for help in restructuring their programs to save money while still achieving their program objectives,`` Schwartz said.
The comparative analysis also found that:
-- While the number of female expatriates almost doubled between 1993 and 2003, men still accounted for the vast majority of expatriates overall (82 percent in 2003 compared to 90 percent in 1993).
-- The percentage of married expatriates dropped from 64 percent in 1993 to 55 percent in 2003.
-- Fewer expatriates are heading off to assignments with children in tow: 59 percent in 1993 compared to 51 percent last year.
-- In a reflection of companies` growing concerns about employee attrition, 86 percent of companies in 2003 said they provided repatriation support, compared to 52 percent in 1995 (the first year the survey examined this issue).
Schwartz said GMAC Global Relocation Services is already inviting companies to participate in its 2005 Global Relocation Trends Survey at www.gmacgrsglobalsurvey.com. Results of the 11th annual survey will be released in the Spring.
About the Survey
The 10th annual Global Relocation Trends 2003/2004 review was conducted and issued jointly by GMAC Global Relocation Services, the National Foreign Trade Council, and the Society for Human Resource Management. Since the first findings were issued a decade ago, the comprehensive reports have come to be regarded as the most reliable and respected sources of global mobility data and trends.
About GMAC Global Relocation Services
GMAC Global Relocation Services, a subsidiary of GMAC Home Services, is a provider of global relocation and assignment management services. Headquartered in Oak Brook, Ill., GMAC Global Relocation Services provides customized services and maintains an extensive worldwide reach, with service centers and partner companies in more than 200 locations across 110 countries through its Global Relocation Partnership. More information on the company can be found at www.gmacglobalrelocation.com.
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