{"id":4358,"date":"2020-12-14T04:29:35","date_gmt":"2020-12-13T17:29:35","guid":{"rendered":"https:\/\/insyncnetworkgroup.com\/how-companies-can-retain-returning-expats\/"},"modified":"2023-07-03T01:59:57","modified_gmt":"2023-07-02T15:59:57","slug":"how-companies-can-retain-returning-expats","status":"publish","type":"post","link":"https:\/\/insyncnetworkgroup.com\/how-companies-can-retain-returning-expats\/","title":{"rendered":"How Companies Can Retain Returning Expats"},"content":{"rendered":"
There is no doubt that 2020 has shone a light on repatriation for both organisations and individuals alike. With over 400 000 Aussies returning throughout the year, many are heading home with their employer and actively looking for ways to leverage their international knowledge, skills and relationships.<\/p>\n
For many expats the lure of an overseas assignment is the opportunity to acquire global leadership experience and position them for career progression upon return. For organisations, it\u2019s an opportunity to invest in their high potentials, building out leadership succession and capturing valuable market intelligence to support business growth strategies.<\/p>\n
Unfortunately though the repatriation journey is fraught with challenges for both the returning expat and the organisation that took them overseas. Many discover that the next career step is simply not there, the timing for progression doesn\u2019t line up or the depth of challenge \/ opportunity to leverage their newly acquired international experience is not as rich as they had hoped for.<\/p>\n
The reality is it can all too easily become a retention nightmare for the organisation and their talent development strategy. With expat assignments not cheap (the average assignment costs three to four times more than an employee\u2019s salary back home) and recent reports suggesting that up to 28% of expats leave their employer within the first 2 years of return, there is a very real risk to the organisation\u2019s return on investment.<\/p>\n
Failing to retain repatriates also quite literally gives new meaning to the saying \u2018one man\u2019s loss is another man\u2019s gain\u2019 with former employees walking straight out your doors and through the doors of your competitor. When they do, they take with them their IP, insights and networks all of which you have made a significant investment.<\/p>\n
So what steps can organisations take to ensure that this highly motivated, experienced talent pool doesn\u2019t walk out the door?<\/p>\n