NEW YORK--(BUSINESS WIRE)--A recent survey commissioned by MetLife found that 67 percent of American employees are interested in taking an expatriate (expat) assignment through their employer—stints lasting three months or more in another country—indicating that American workers have a strong desire to travel abroad for work. Yet with just 15 percent saying they have taken an expat assignment, and 24 percent unsure whether their employer even offers them, employees are not finding expat opportunities or are unaware of how to take advantage of them.
Gen X is as motivated to be an expat as Millennials
Seventy one percent of Gen Xers are interested in an expat experience, which is statistically equivalent to Millennials (75 percent). Despite the clear interest among both generations, only 12 percent of Gen Xers have ever gone on an expat assignment, versus 19 percent of Millennials. When asked what would motivate them to take an expat assignment, both groups indicated working abroad appeals to their desire for trying new things and sense of adventure:
|
Millennials |
Gen X |
||
|
45% |
52% |
||
|
45% |
46% |
||
|
45% |
46% |
||
|
32% |
36% |
||
|
29% |
36% |
For employers, this is an opportunity to engage a significant segment of their workforce. As the 2019 MetLife 17th Annual U.S. Employee Benefit Trends Study revealed earlier this year, Gen X is the least happy generation of employees at work, feeling both overlooked and under-engaged. Promoting expat assignments may result in meaningful support of this demographic.
Expat assignments can boost talent acquisition and retention strategies
Employee interest in temporarily relocating abroad for work is an opportunity for savvy employers to promote their expat programs as a compelling talent acquisition tool. Interest in expat assignments is also more or less consistent across U.S. geographic regions,1 thus, employers who promote expat opportunities may have a competitive advantage in markets experiencing low unemployment and talent shortages.
Although “increased salary” (44 percent) is one of the top three reasons for wanting to be an expat, money is not the only motivator for wanting to go global. “The desire for a new experience” comes out on top (45 percent) followed by “curiosity/sense of adventure” (41 percent). Employers can leverage these motivators to not only identify the best candidates for current expatriate opportunities, but to draw the attention of potential new employees who are looking for more than monetary gains from their workplace. For example, higher-income employees, or those with over $100,000 in household income, not only express greater interest in expat assignments2, but also place more stress on professional development3 as a motivator to take on an expat assignment than their counterparts.
“Thanks to globalization, communications advancements, and a general appetite for acquiring experiences rather than things, it’s no surprise that the desire for expat experiences remains strong,” says Ann Deugo, head of MetLife Worldwide Benefits, the company’s expat business group. “Having an expat program is only the first step; employers should also take a look at expat benefit offerings to ensure they are customized to meet the specific needs of people who are living abroad. Those needs are unique to each expat assignment and catering to them will ensure a successful assignment for the employee as well as the employer.”
Research Methodology
This report presents the findings of a CARAVAN survey conducted by Engine among a sample of 1,004 adults comprising 502 men and 502 women 18 years of age and older. The online omnibus study is conducted twice a week among a demographically representative U.S. sample of 1,000 adults 18 years of age and older. This survey was live on April 22-24, 2019. Respondents for this survey were selected from among those who have volunteered to participate in online surveys and polls. The data have been weighted to reflect the demographic composition of the 18+ population.
About Engine
Engine is a new kind of data-driven marketing solutions company. Powered by data, driven by results and guided by people, we help our clients make connections that count—leading to bottom line growth, an inspired workplace and business transformation. With global headquarters in New York and 17 offices across North America, the UK, Europe and Asia-Pacific, Engine offers clients a vast range of marketing solutions—including insights, content, distribution, data and technology. Find out more at enginegroup.com or follow us @Engine_US.
About MetLife Worldwide Benefits
MetLife Worldwide Benefits has been providing personalized solutions for globally-mobile employees for nearly 60 years. MetLife Worldwide Benefit’s products are underwritten by Delaware American Life Insurance Company, a MetLife affiliate domiciled at 600 North King Street, Wilmington, DE, 19801, and other affiliates. For more information, visit https://www.metlife.com/global-employee-benefits/globally-mobile-solutions/
1 When asked “How interested would you be in taking an expat assignment,” the respondents who answered positively was the same across US regions: Northeast (68%), Mid-West (70%), South (64%), and West (69%).
2 74 percent are interested, vs. 64 percent of all others.
3 46 percent cite as a motivator, vs. 21 percent of all others.
