Crossing International Boarders: Why Executives are Moving Overseas
Wayne Bruce, CEO, Ccentric
Now more than ever, people are willing to move abroad for an executive job opportunity. In response to this international trend, we conducted the Ccentric Executive Mobility survey as a way to monitor insights into what motivates leadership talent in healthcare, life sciences and academia to relocate globally.
From the outset we understood that international relocation was keenly accepted by many with an enormous 84 per cent of our sample agreeing to this. Of these, 64 per cent would engage in a three year commitment. This resounding enthusiasm for relocation is a game changer in business and opens many doors to national brain gain should employers offer a package in line with high-priority interests of potential employees.
An Employee Value Proposition (EVP) answers the key question of “Why someone would want to work here as opposed to the firm next door?” Understanding motivation is important for organisations to consider when developing or refining their EVP. Our survey broke down these factors into four critical areas:
Certain aspects of a country encourage people to choose one over the other. Our survey looked into this and concluded that 86 per cent considered ‘quality of life’ as the most important factor when relocating. Next with 61 per cent of the field was ‘personal security’, followed closely by ‘cost of living’ (60 per cent) and quality of ‘education and health facilities’ (55 per cent).
The brand behind the employing organisation is a strong motivating influence for executives. ‘Culture’ (61 per cent) and ‘leadership’ (58 per cent) stood out as the two leading preferences for respondents when choosing a company. With respect to gender, we found that males placed significantly greater value on job security, working in a supportive workplace and the ability to innovate.
Though remuneration (67 per cent) was the most influential factor related to the job based on our survey, the ‘characteristics’ of the position, ‘work/life balance’ (56 per cent) and ‘professional development’ also scored highly.
Salary proved the most dominant factor in terms of remuneration and reward with 91 per cent of the respondents selecting this in their top three deciding influences. Relocation assistance packages were also taken into consideration. From a gender perspective, women rated leave entitlements as less important in their decision making process than men
Understanding employee attitudes and motivation is not a new concept. Frederick Herzberg, one of the biggest names in business management performed studies in the 1950s to determine which factors in an employee’s work environment caused satisfaction or dissatisfaction. He theorised that the below were influences that affected how people felt about their job.
Motivators for satisfaction:
- Work itself
- Company policy
- Relationship with peers
- Relationship with the boss
- Work conditions
Dissatisfies were also referred to as ‘hygiene factors’ in that they require maintenance to avoid dissatisfaction and do not provide significant motivation alone. Herzberg felt that if organisations follow this model and satisfy their people’s needs, they would find more productive employees.
Today, relocating to a new country is an increasingly realistic option, providing people with an exciting range of career and lifestyle opportunities. National brain gain is achievable when an attractive EVP is established, bearing in mind the critical factors that are associated with motivational influence.