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Generation Y & Z in Global Mobility

It’s an exciting time to be working in global mobility.

Data from PwC’s “Talent Mobility – 2020” reveals that in the last decade, international assignee levels have increased by 25%, and is predicted to grow by a further 50% by 2020.

According to several studies the generational-shift in mindset and priorities is proving to be a true advantage for global mobility as millennials create their own space in the workforce, having fewer obligations and being more willing to move globally for their careers.  

Furthermore,  due to technology, Generation Y & Z has grown up with more global access and been instilled a global mindset which has created an interest in international experience and working away from their home country.

Following the steps of Generation Y, Generation Z is increasingly viewing the world without boundaries. As geography is shrinking due to the fact that the world is going “online”, generation Z’s mindset is becoming more global.

Research conducted by Accenture Strategy revealed that 83% of generation Z are willing to relocate internationally  for a job .

Generations Y and Z consist of a workforce of independent and empowered individuals, who would be more than happy to start a career abroad as they see the opportunity as a “rite of passage”.  This is great for businesses looking for talent as the candidate pool is now global.

PwC’s “Talent Mobility – 2020” further revealed that only 18% of millennials plan to stay in their current jobs for a long period and are constantly on the look for new opportunities.

Skills shortage alongside a global ageing population has lead to talent scarcity that will intensify global competition for talent which will increase the need for governments to import individuals and fill workforce gaps.

As a consequence, regulators and governments will increasingly realise the benefits of global mobility for economic growth which will motivate them to increase collaboration with businesses in order to remove barriers of global mobility.

Competition for talent is at an all time high, meaning there has never been a better time to widen the net and look globally for hire. Cornerstone are here to help you, we deliver an extensive range of relocation support and management service internationally.

Sources:  PWC “Talent Mobility 2020”       Accenture “Gen Z Rising”

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