The pandemic undoubtedly created uncertainty which caused many to ask - Do people still want to relocate? With the pandemic adding another level of complexity, now more than ever, assignees are considering, what is best for my family?
How has the Pandemic changed the future of Technology in Mobility?
The pandemic undoubtedly created uncertainty which caused many to ask - Do people want to relocate? There was always the worry about family, social issues, politics, health, and safety. But now with the pandemic adding another level of complexity, now more than ever, assignees are considering “what is best for my family?” This all leaves a bit of uncertainty lingering in the Mobility industry of, what next?
We recently welcomed Benvio Strategy Council members Wes Okumura and Eric Halverson to Benivo Bites for a three part series to look at the rise in use of technology spurred on by the pandemic and the increase in remote working, and what that means for the future of technology in Mobility.
Nitzan feels the Pandemic made us younger in the sense of being more adept at using technologies as we were forced to use new technology such as Zoom to function in our daily lives and work and remain connected to each other. It has forced us to be more connected in virtual way and changed the nature of the mobility function. In some ways we are more connected now than ever. As stated, International mobility became domestic mobility with remote workers.
So, two things are occurring, focus on the assignee experience and then how to manage the new remote population. A big focus is on reducing cost but while traditional mobility is declining, remote working has increased so there is a need for greater automation to do more with less. Technology now ESSENTIAL AND CENTRAL to everything! As Marshall McLuhan who developed concept of Global Village said of Technology - “it is the central nervous system that connects to whole body. “
Nitzan points out we are seeing more self-service offerings as employees are more willing to receive digital support, they are now expecting it. Also trends to core flex and lump sum are on the rise as people want the ability to select what works best for them.
RPA Robotic Process Automation
This will have big impact on society and mobility. Per Wes Yukumura, RPA has been around for a few years and applied over all corporate functions (finance, accountancy, etc.) and now in mobility. It offers a low-cost way to automate by take manual processes and make them automated therefore eliminating human error but also freeing up human time for people to better connect. This Application Programing Interface idea is to allow separate systems to talk to each other and can be one way API or two-way API. The value of using separate tool is to aggregate data from all different sources that have not connected by API.
Using RPA is not about competitive advantage but about staying in the game.
Big Data and Predictive Analytics
Using predictive analytics to take data and use it to give insights that could not have before by putting all data from multiple vendors in one centralized platform to create live alerts, dashboard, etc. and use that data for future predictions and business decisions.
During the pandemic, more companies are now bringing data in house. They see how important it is to know where employees are and want to control the data, they before were not exposed to and use it to get predictive analytics.
Predictive analytics is being used in all areas included employee success, based on trends and locations. The data can predict if the employee will be a good fit. Another area is in determining program type – what is needed to meet the employee’s needs? Should the program be core-flex or lump sum? From perspective of vendors, predictive technology can shed insights on such areas as what best time of day to make sales call?
Could you have BOTS for questions for employees? Can BOTS show empathy? A BOT frees up mobility teams from doing manual repetitive work so they can spend more time building the human relationship with the transferee. BOTs allow companies to free up the human resources to deliver more empathy and connection building.
Virtual reality - how can that change mobility? This newer feature in the industry can reduce the need to travel and also help determine if a full relocation is needed opposed to business travel.
Blockchain
Blockchain and Crypto currency could change how payments are made by making banking less of an issue and more efficient.
The mobility function will change radically next 5 years. The administration aspects need to be leveraged by technology and the traditionally mobility role is going to become more strategic and linked to talent management. The role will be under greater scrutiny and more internal focus.
Future of Technology in Mobility Series
To hear more of the discussion on technology in Mobility, check out the three part series and hear Nitzan, Wes and Eric's predictions.
Part 1: The Future of Technology in Mobility
Part 2: What's Happening Now
Part 3: A Glimpse into the Silicon Ball