Feeding Economies
Globally, a highly detrimental contradiction concerning expats is very widespread. Open minds and supportive attitudes concerning expats can generally be encountered in cities everywhere. Expats are, however, also one of the most underestimated groups of people.
This may come as a surprise to those who have never given them much thought nor relocated themselves. Living abroad reveals contradictions lurking in many walks of life.
Especially when relocating to a country of foreign language to one’s own. Research of official city websites reveals a lack of even basic information in English. Düsseldorf’s is some 95% German, for instance, and Montreal 100% French. This is understandable and even commendable due to the enormous investment required to maintain multilingual and up to date content. The issues are obvious.
Feeding Economies
Expats are required in key positions at many companies in virtually all cities worldwide. Their presence benefits business growth thus feeding the local economy. So too direct consumerism of expats who are already residents.
The main beneficiaries of Amazing Capitals online publications and resources are cities and their local companies who require solid support to assist them in their goal of attracting international professionals. The knowledge available also helps those same companies wishing to retain expats.
The eGuides present a powerful portfolio of articles and posts designed and written specifically to inform, support and empower expats in their new location. All aspects concerning The Location and Things To Do are covered on the online resources as are the multifaceted themes of Expat Life. Clean, clear presentations guide give answers, guide to other sources or recommend other solutions. The benefits are self-explanatory.
- Greater productivity and growth of companies
- Reduced costs through retention of contented staff
- Improved reputation of employers of expats
- Enhanced attractiveness of the location
- Beneficial image improvement and portrayal
- Increased corporate donations
- Local demographic adjustments
- Rise in numbers of consumers
Research is sketchy. However, the most recent publications reveal fascinating and potentially costly insights. Attempted engagements can fail because potential expat employees are not aware of the full offer that the city and the region provides. Some claim an over 50% failure rate in attracting. Those engagements that have a positive outcome require much individual support for a relocation to succeed.
In order for them to be more engaged at work, international employees need to experience quality of life. The prospect of retaining foreign employees can also seem demanding with a failure rate of between 30%-50% while the cost of finding a replacement can, according to global statistics, be beyond 100-200% of their salary.
Retaining expats is fundamentally linked to their ability to integrate and lead better lives in their new location. They cannot achieve that without access to knowledge.
The Research
Family members’ inability to adjust to a foreign assignment has been identified as one of the most critical causes of expatriate failure . – Haslberger A., Brewster C. 2008. The expatriate family: an international perspective. J. Manag. Psychol. 23 324–346.
It is well known in expat circles that many assignments fail because spouses or the kids are unhappy. According to AXA’s own “World of Work” report 54% of HR directors at multi-national companies say that staff terminating international assignments early did so due to family concerns. – Lucille Abendanon on AXA Global Healthcare.
Client Quote
Equally, local companies are supported and profit from the knowledge of the [Amazing Capitals Neuss] eGuide. In this manner, particularly medium-sized businesses are assisted in attracting expats to their company and thus counteracting a shortage of skilled workers. – Peter Fischer, Press Spokesman, City of Neuss.
Further sponsors and partners include city departments, state or local institutions and corporations. Let’s talk to see how this works for you. Join the growing Amazing Capitals family and become a sponsor when you are ready.
By Vincent Green, Oct 7 2021
RETAINING EXPATRIATES
Improving the chance of companies retaining international employees in their location is a challenging task for city authorities. Life as an expat is complex. The need for balance, contented interaction and feeling at home is key. Those that underestimate the necessity to support are likely to lose valued residents.
ATTRACTING EXPATRIATES
Talented individuals make choices. Far too many cities trust that companies in their city are capable of filling vacancies from abroad. They do little to support their local expat ecosystem. Meanwhile, other locations appear more desirable and win the competition of attracting and retaining international professionals.
To the surprise of newly arrived expats, beaches exist even in landlocked locations. These may be the shore of a river, lake or reservoir. Discovering fine sand for walking, playing, relaxing and picnicking is a hot topic whatever the season. So too parks, hiking and nature trails. All are form part of the comprehensive knowledge on every eGuide.
