Unlocking ROI through Evolved Mobility Programs

Insights from EY’s 2024 Mobility Reimagined Survey

The EY 2024 Mobility Reimagined Survey has delivered critical insights into the role of mobility agility in driving business resilience. As businesses navigate an ever-evolving global landscape, understanding how to optimize return on investment (ROI) from mobility programs becomes paramount. This survey gathered responses from over 1,000 mobility industry professionals across 21 global regions and identified five key drivers essential for evolving mobility functions: strategic alignment, talent linkage, digital focus, flexibility, and use of external expertise.

The Three Tiers of Mobility Adoption

Respondents were categorized based on their adoption levels of these drivers:

• Evolved Functions: Representing 25% of respondents, these organizations show the highest adoption levels and are leading the way in leveraging mobility for business resilience.
• Emerging Functions: This middle 50% demonstrates moderate adoption, indicating the potential for growth and improvement.
• Effective Functions: The remaining 25% have low adoption levels, indicating significant room for advancement.

ROI and Mobility: A Direct Correlation

A standout finding from the survey is that organizations focusing on the five key drivers are more likely to achieve positive ROI from their mobility programs. The ROI tracking has seen a notable increase, with nearly all employers now monitoring it, up from 80% in 2023. Despite this, a universal standard for tracking ROI remains elusive. The most common metrics include performance ratings (64%), cost (56%), and the function’s impact on business revenues and finances (54%).

Strategic Alignment: The First Driver

Strategic alignment is crucial for maximizing ROI. By embedding mobility into the broader organizational strategy, companies can ensure that mobility initiatives contribute directly to overarching business goals. This alignment reduces operational silos and enhances data exchange across functions, leading to more informed decision-making and greater business resilience.

Talent Linkage: Investing in Future Leaders

Evolved mobility functions recognize the broader benefits of talent development. Nearly all evolved functions are tied to two or more core areas of talent development, compared to just 41% of effective employers. These core areas include developmental programs involving mobility experiences, mobility woven into career milestones, early career programs with mobility steps, and mobility opportunities for top talent. Such integration boosts employee engagement and retention and ensures a steady pipeline of future leaders.

Embracing Digital Tools: The Role of GenAI

Generative Artificial Intelligence (GenAI) is revolutionizing the mobility landscape. The survey reveals that evolved programs are nearly twice as likely to use GenAI routinely as practical functions. While 71% of mobility functions use GenAI occasionally, only 22% employ it regularly. However, 79% of employers believe that GenAI will positively impact their function, particularly regarding flexible working, employee experience, and new job opportunities. Investing in digital tools like GenAI enhances efficiency and drives significant ROI.

Flexibility: Adapting to Modern Work Models

Flexibility in mobility programs is critical to enhancing the employee experience and supporting modern work models such as hybrid and remote work. Evolved business functions demonstrate a greater willingness to mix and match resources, providing superior service to the organization while increasing efficiency and reducing workload pressures. This adaptable approach ensures that mobility programs can swiftly respond to changing business needs and external factors.

Leveraging External Expertise

Utilizing external expertise allows organizations to access specialized knowledge and alleviate pressure on in-house resources. This strategic use of external providers can drive significant ROI by enhancing the quality and efficiency of relocation and global mobility programs without overburdening internal teams.

Actions to Drive Evolution to join the ranks of evolved mobility functions, organizations should:

1. Act Strategically: Embed mobility into the broader organizational strategy and enhance data exchange.
2. Integrate with Talent: Link mobility to talent development goals and enhance the relocation and mobility experience.
3. Promote Digital Tools: Prepare for widespread adoption of GenAI and other digital innovations.
4. Build People-First Programs: Develop flexible, inclusive, sustainable relocation and global mobility strategies.
5. Develop Resilient Models: Address rising risks from new work models and international regulations, leveraging external expertise.

Conclusion

The survey underscores the importance of evolving mobility functions to drive business resilience and ROI. By focusing on strategic alignment, talent linkage, digital innovation, flexibility, and external expertise, organizations can unlock the full potential of their mobility programs. As the business landscape evolves, these insights provide a valuable roadmap for companies striving to enhance their mobility strategies and achieve superior outcomes.

For more insights and to discover how evolving mobility programs can enhance your organization’s success, connect with InterLink Relocation Resources. Our experts are ready to help you navigate the future of talent mobility. Reach out to us at info@interlinkrelocation.com today!