Employers must consider numerous factors when searching for a reliable global mobility management company. However, the factor that should top the list is the company’s financial standing.
Relocation involves much more than just a move from point A to point B. At its core, a mobility management company provides the support and stability an organization needs to ensure a smooth relocation. This includes reinforcing business objectives, strategic training, and filling any gaps while moving employees, their families, and their belongings from one location to the next. Most importantly, the mobility management company manages a number of financial transactions supporting your program. Selecting a financially weaker mobility management company puts your program at risk.
Why It Matters
When selecting a global mobility management partner, mobility managers should first research each company’s reputation for professionalism and financial stability. The global mobility management company may be responsible for managing the distribution of expense reimbursements to your relocating employees and payments to third-party vendors for the essential services they provide. When a company remains financially stable you can have confidence that they will pay both your employees and service providers on time, ensuring uninterrupted, quality service.
While important, costs alone do not provide insight to a company’s stability. Instead, consider overall financial strength to ensure that your mobility management company can provide service that meets your employees’ needs, regardless of external factors that may impact the market.
How Stability Helps Meet Objectives
Productivity drives the bottom line for all companies, regardless of industry. During a relocation, employers aim to provide a smooth transition for employees to maximize productivity and business continuity. Because of this, choosing an experienced and fiscally stable global mobility management company is of paramount importance. Support from a seasoned and financially sound mobility management company establishes a strong base of technical and human resources to provide the support necessary for continued productivity.
A mobility management company must have access to funds to make payments to employees and third-party vendors on time. Financial stability ensures there are no complications regarding payments, helping everything run as smoothly as it should.
Financial support prevents delays meeting business goals and deadlines by acting as a safety net when issues arise. Without a strong foundation, your mobility management company could go under in the middle of moving your employees. Imagine an employee arriving in an unfamiliar country only to learn his or her belongings are stuck in customs, or even worse, were not even transported because suppliers were not paid.
Financial stability brings peace of mind that your mobility management company can provide consistent support to help you maintain productivity, meet business goals, ease the anxiety of relocating employees, and fill any remaining gaps.