Breakthrough to the Future of Global Talent Mobility 2016 GLOBAL MOBILITY TRENDS SURVEY VISIT THE GLOBAL MOBILITY TRENDS MICROSITE globalmobilitytrends.brookfieldgrs.com

Explore the response to each question in the survey by region, industry and mobility program size. CONTENTS

Respondents' Profile 4 New Challenges for Global Talent Mobility 5

THE TALENT MANAGEMENT GAP 7 Leadership and International Experience 8 The Talent Pipeline 10 Sending a Person vs. Sending the Right Person 11 Candidate Readiness: A Hidden Risk? 11 Cost Containment Becomes Commonplace 12 Inconsistent Cost Management Practices 13 The Demand for Actionable Data 14

STRATEGIES + SYNERGIES = SUCCESS 17 Maximizing Millennials 17 Better Governance 18 The Link Between Governance and Outcomes 19 Organizational Connections and Business Partnerships 19

CONCLUSION: BREAKING THROUGH 21 THE BARRIERS TO DEMONSTRATE INTRINSIC VALUE RESPONDENTS’ PROFILE

21ST ANNUAL REPORT Respondents’ Company Headquarters

INSIGHTS FROM AMERICAS EMEA APAC 163 GLOBAL COMPANIES 54% 40% 6% REPRESENTING OVER 11 MILLION EMPLOYEES

Respondents’ Industry

Engineering and Manufacturing 23%

Consumer Products 16%

Information Technology 15% Respondents’ Mobility Program Size

Energy 12% <=100 Financial ASSIGNEES Services 12% 51% Healthcare and Pharmaceuticals 10%

Other 10% >100 ASSIGNEES 49% This report highlights a small but important number of companies with greater alignment to talent management practices whose global mobility programs show signs of delivering new levels of strategic contribution.

NEW CHALLENGES FOR Respondents’ Company Headquarters GLOBAL TALENT MOBILITY

We have positioned our analysis of the data Although many companies see evidence of talent contained in this survey against the framework mobility’s potential to attract and retain key of the competitive realities of the global economy talent and have taken certain steps to align and the increasing demands being placed on supporting business practices, the prevailing view Human Resources functions to help drive overall is that the breakthrough for most is yet to occur. business success. Companies’ approach to cross- border employee mobility continues to be strongly This report explores these challenges through influenced by current economic conditions, such the results of the 21st issue of the annual Global as the slowing pace of growth in China, volatility Mobility Trends Survey. We also highlight a small in the oil and gas industry, and growing challenges but important number of companies with greater in key emerging markets such as those in South alignment to talent management practices whose America. Companies continue to find an ever- global mobility programs show signs of delivering increasing gulf between the demands of their new levels of strategic contribution. businesses and the supply of candidates with the required education, skills and future potential We would like to thank the 163 Global Mobility necessary to fully execute on both the opportunities, leaders who took the time to respond to our and the challenges identified by the senior survey and to share their thoughts. We recognize management teams. Millennials, soon to be the that Mobility leaders in today’s world are extremely largest segment of the population in the workforce, busy, and we greatly appreciate the generous gift will present a unique set of expectations having a of their views and experience. bearing on attraction, engagement and retention for companies. We hope that you will find this report insightful and a valuable source of information for your As such, the role of Human Resources functions journey of talent mobility transformation. in equipping their multinational enterprises with the required talent is more challenging, yet ever more critical. And as companies need to move Diane Douiyssi employees across borders to enable global growth, Director of Consulting Services talent mobility has become a key contributor T: +1 480 778 7804 to an organization’s overall success. E: [email protected]

Gill Aldred Yet, we often see gaps between the expected Director of Consulting Services role of the Global Mobility function, and the T +44 (0) 20 7920 3814 capabilities needed to successfully meet E: [email protected] and execute on the associated challenges.

Brookfield Global Relocation Services 5 Role of the Global Mobility Function

Ten percent (10%) of the respondents report Nearly half (46%) of the respondents indicate that the role of the Global Mobility function that the Global Mobility function is focused is aligned with the wider talent agenda and on ensuring globally mobile employees receive actively engaged in workforce planning optimal levels of service support. and people effectiveness. 10% 46%

44%

Another significant portion (44%) relays that the primary role of the Global Mobility function is to provide expert advice to stakeholders throughout the company. THE TALENT MANAGEMENT GAP

In this year’s survey we asked respondents how process. A contributing factor is that Mobility they would best describe the role of the Global leaders often lack the ideal level of visibility to the Mobility function in their company at this time. company’s wider talent management objectives Nearly half (46%) of the respondents indicate and therefore have limited access to the metrics that the Global Mobility function is focused that could better enable measurement of the on ensuring globally mobile employees receive organizational value rendered from talent mobility. optimal levels of service support. Another significant portion (44%) relays that the primary role of the Global Mobility function in their Gaps exist in the integration of organization is to provide expert advice to international assignments into the stakeholders throughout the company. Only 10% of respondents report that the role of overall career management process. the Global Mobility function is aligned with the wider talent agenda and actively engaged in workforce planning and people effectiveness. There are examples of emerging success stories and companies are moving methodically in Providing high levels of service to relocating the right direction. It is increasingly clear to employees and their families is unquestionably our respondents that aligning mobility to the a fundamental expectation for Global Mobility company’s talent agenda can help companies teams. However, meeting the business challenges break through to a more strategic and effective of today and tomorrow may require many approach to attracting, developing and retaining companies to reset resource focus and priority. key talent.

Gaps exist in the integration of international assignments into the overall career management

Brookfield Global Relocation Services 7 61% of the survey respondents say their company has communicated to employees that taking an international assignment is important to optimize their careers.

LEADERSHIP AND INTERNATIONAL EXPERIENCE

Companies are focusing on creating a pipeline However, we find that many companies have not of future leaders with global management yet fully adopted those practices that would experience. International assignments can be deliver on the potential the mobility holds for a significant draw and may be seen as a pathway attracting and developing talent. For example, to career enhancement for current employees. nearly three-quarters (73%) of companies don’t Many companies have developed robust rotational maintain a candidate pool for future international programs designed to give individuals that critical assignments, and 33% don’t have a process for international experience, which is increasingly employees to designate themselves as willing to seen as fundamental and an essential leadership accept an international assignment. In addition, competency. Often companies are taking this a only 23% of respondents report that they have a step further and formally communicating to their specific process in place that incorporates formal employees that taking an international assignment career planning from the point of time an can be a substantial step forward in their career employee accepts an international assignment. trajectory. In fact, 61% of the survey respondents say their company has communicated to employees that taking an international assignment is important When looking to attract top talent, to optimize their careers. a global organization can utilize its mobility policies and programs In addition, when looking to attract top talent, a global organization can utilize its mobility as a means to differentiate from policies and programs as a means to differentiate the competition. from the competition. This can become especially important when looking to attract Millennials who often are drawn to opportunities that include an Is promoting international assignments as a international experience. We found a considerable pathway to leadership a hollow promise? It can number of companies are doing just this; 41% of be if companies don’t have career and assignment the respondents tell us their companies are using management practices in place to support their mobility policies for recruiting desired the employee. Skepticism then grows – as do talent externally. assignment refusals – if candidates are uncertain that the career gain is worth the life disruption.

8 Brookfield Global Relocation Services 41%

73% of the respondents' companies use their mobility policies for recruiting don’t maintain a desired talent externally. candidate pool for future international assignments.

33%

don’t have a process for employees to designate themselves as willing to accept an international 23% assignment.

only have a specific process for career planning from assignment acceptance. THE TALENT PIPELINE 48% For some time, there has been discussion about the need to develop a closer synergy between are unsure whether their international assignee Global Mobility, Talent Management and the attrition rate is greater than that of their business to meet the challenge of a growing overall employee attrition rate. talent shortage. Based on the survey data however, it appears that companies may still have a way to go to reach that important connectivity and partnership. While a majority of companies (54%) report that they have enough internationally experienced talent to meet their business needs, one-fifth (20%) are unsure if they do. Accordingly, the design and execution of mobility programs is ideally informed by a clear line of sight to the company’s talent development goals pertaining to global skills.

On an equal plane – and consistent with the below findings concerning costs – many respondents do not measure, or have visibility into, the attrition rates for international assignees. Nearly half (48%) of the survey respondents say they are unsure whether their international assignee attrition rate is greater than that of their overall employee population when comparing similar positions.

It’s safe to say that measurement is the first step towards effectively managing assignee attrition and the ability to improve retention over time.

10 Brookfield Global Relocation Services SENDING A PERSON VS. SENDING THE RIGHT PERSON

When we asked respondents what they believed caused assignments to go awry, poor candidate Nearly 80% of companies don’t selection is the number two reason after family formally assess the adaptability of related issues. In addition, 14% of the respondents indicate that an initiative to improve the process international assignment candidates, of candidate selection would increase their and only 29% use some type of self- company’s return on the investment made assessment tool. in international assignments.

Yet, nearly 80% of companies don’t formally Better matching of candidates with the demands assess the adaptability of international assignment of a particular international assignment is a key candidates, and less than one-third (29%) use area where the Global Mobility function can bring some type of self-assessment tool. Self-assessment greater impact and ultimately contribute to critical tools have a role in equipping potential international business goals, including talent retention and assignees with the information to either self-opt the performance results from those going out of assignments or to identify additional areas on assignment. of focus for improvement.

CANDIDATE READINESS: A HIDDEN RISK?

As in the case of candidate selection, candidate The inability to adapt to the host location is readiness is an area where the Global Mobility among the top three most commonly noted function can bring its expertise to optimize reasons as to why assignments are unsuccessful. assignment success. According to the survey Ensuring that intercultural training and skills results, over a quarter (26%) of the assignees are consistently provided to assignees and the going abroad to take leadership positions do not accompanying families are foundational steps to possess the necessary skills for a leadership role reducing the number of assignees experiencing in the host culture. In addition, nearly one in five difficulty adapting to the host location and assignees (18%) experience notable difficulty business environment. Mobility leaders are in in adapting to the host location. a good position to leverage their understanding of the cost of assimilation support versus It is well understood that adaptation issues total assignment cost and to educate their can lead to diminished performance – in some organizations about the benefits of a greater instances assignment failure, as well as potential use of these resources. attrition, either on assignment or post repatriation.

Brookfield Global Relocation Services 11 COST CONTAINMENT BECOMES COMMONPLACE

Like the rest of the wider business community, Mobility leaders continue to be expected to find For many companies savings and realize efficiencies. The high cost of global mobility programs, and the focus on cost there simply may be reduction, has consistently come across in this survey’s results since the onset of the financial no further room downturn in 2008. According to this year’s survey, to reduce benefits nearly 70% of the survey respondents say that there had recently been an effort to reduce mobility without seriously program costs in response to business and economic conditions. The respondents also tell us that affecting the containing the cost of international assignments integrity of is equal in importance with compliance and risk management as the most challenging factors the program. in managing international assignments today.

The most common reported initiative to control costs in this year’s survey is a greater use of alternatives to long-term international assignments. Reduction of policy provisions offered to assignees dropped to 6th place, after many years of ranking as the top cost control initiative.

For many companies there simply may be no further room to reduce benefits without seriously affecting the integrity of the program. What’s more, nearly all (96%) respondents report that the pressure to reduce costs has either increased or stayed the same compared to last year. Rather than a waning focus on cost, we see this as the normalization of cost pressure. Although natural cycles in different industries have allowed for an ebb and flow in cost focus historically, today the demand to contain costs is simply an everyday and standard part of doing business.

12 Brookfield Global Relocation Services INCONSISTENT COST MANAGEMENT PRACTICES

Despite indications that the pressure to contain cost continues to be a considerable concern for require a cost benefit Global Mobility leaders, our survey reveals that analysis as part of the business justification for an many companies have not yet adopted cost 26% international assignment. planning and associated management practices. As an example, only 61% of the respondents prepare cost estimates for all assignments, and only 26% of the respondents require a cost benefit analysis as part of the business justification for all international assignment types. Only half of the respondents (51%) report that they consistently track the actual total costs of international assignments. 61% prepare cost Although the percentages are somewhat higher estimates for all when isolating companies that say they are under assignments. active cost reduction efforts, the increase is only marginal. Creating visibility to estimated and actual assignment costs is recommended to achieve optimal cost results and to facilitate internal discussions concerning the business case for overall spending levels or within specific categories. consistently track the Many companies seem to be answering cost actual total costs of 51% international assignments. cutting demands by reducing the number of assignments or changing their mix to include more of the increasingly popular “one way transfers”. Nearly half (48%) of respondents who indicate that cost pressures have increased also report a decrease in the number of international assignments in 2015. While reducing the number of assignments unquestionably reduces program costs, eliminating opportunities for international assignments could also have other unforeseen opportunity costs, particularly in terms of talent development, filling the leadership pipeline and retention of key employees.

Brookfield Global Relocation Services 13 THE DEMAND FOR ACTIONABLE DATA

Enabled by technology, Human Resources leaders are looking to make significant improvements to operational effectiveness and transform their organizations. An important part of that shift involves a greater focus on data driven decision making. Mobility leaders not only need accurate data to quantify their program’s value, but also to initiate more meaningful conversations within Human Resources and with business partner stakeholders.

Mobility leaders not only need accurate data to quantify their program’s value, but also to initiate more meaningful conversations within Human Resources and with business partner stakeholders.

We see a majority of Global Mobility leaders facing this reality, with over half (59%) of the survey respondents indicating that the quantity and breadth of mobility program related analytics expected from their senior leadership has increased in recent years.

On the other hand, mobility teams face many challenges to effectively deliver on this demand, as the infrastructure in place is often not adequate. Nearly half (44%) of the survey respondents note the top challenge in producing accurate reports is that the data resides in multiple, disconnected sources. Another 19% report that the data is not being captured. When we asked what type of data-driven program information the Mobility leaders would like to have, not surprisingly many respondents referred to the total cost of their assignments.

14 Brookfield Global Relocation Services 59% of the survey respondents indicate that the quantity and breadth of mobility program related analytics expected from their senior leadership has 44% increased in recent years. report the top challenge in producing accurate reports is data residing in multiple, disconnected sources.

19% report the second biggest challenge in producing accurate reports is data not being captured. Role of the Global Mobility Function

Ten percent (10%) of the respondents report that the role of the Global Mobility function is aligned with the wider talent agenda and actively engaged in workforce planning and Nearly half (46%) of the respondents indicate people effectiveness. that the Global Mobility function is focused on ensuring globally mobile employees receive optimal levels of service support. 10% 46%

44%

Another significant portion (44%) relays that the primary role of the Global Mobility function is to provide expert advice to stakeholders throughout the company. STRATEGIES + SYNERGIES = SUCCESS

If in many companies the Global Mobility function is experiencing a connection challenge and remains somewhat apart from the wider talent discussion, a small but important number of companies are realizing a greater alignment to talent management practices. And, consequently, their global mobility programs are taking on a different appearance than traditional models.

MAXIMIZING MILLENNIALS

As Millennials become a substantial part of the of international assignees who are 20-29 years old global workforce, there is a growing body of and nearly 10% fewer international assignees in research that says their perspectives about work the range of 40-49 years old. and careers are markedly different than that of their work colleagues from other generations. International opportunities are an expectation Companies with greater alignment of perhaps a majority of Millennials, yet most of mobility and the talent agenda companies have not yet established a plan or programs to address this dynamic affecting the are sending more Millennials on future of their workforce. international assignments than the rest of the survey respondents. Most survey respondents indicate that today the highest percentage of their assignees is between 40-49 years old, with the second highest Within organizations nurturing and building a percentage between 30-39 years old. The 20-29 truly globally capable workforce, an international years old category came in nearly last, ahead of assignment is often viewed as the ultimate only the 60+ category. Given the high visibility development opportunity. This certainly holds and cost of international assignments, it’s believed true in our survey as those companies that rank that the investment in international assignments is individual employee development as part of their most easily rationalized when applying it to older, top three international assignment objectives also presumably more experienced employees. have a higher percentage of their assignees that are 20-29 years old. Leveraging this generation’s Interestingly, that distribution looks different for willingness to seek out international experience companies that see the role of global mobility will also help contain overall program costs. in their company to be a strategic driver of their However, it is important for companies to fully talent agenda. Those companies are sending more incorporate the international assignment Millennials on international assignments than experience into the overall career plan in the rest of the survey respondents. In fact, order to maximize the return on investment. those companies have double the percentage

Brookfield Global Relocation Services 17 Maintaining a formal candidate pool for future assignments.

44%

BETTER GOVERNANCE

The companies that view the role of global mobility 27% to be a strategic driver of their organization's talent agenda tend to have better processes in place, and the gaps discussed earlier in this report are Company uses a fewer in number. These companies are at the candidate self- assessment tool. forefront of utilizing candidate identification, selection and assessment, have formal candidate identification processes in place and have integrated 44% career management into the assignment lifecycle.

These companies are more likely to have formally communicated to employees that international assignments are important to career optimization, 29% have complemented this initiative with their career planning, and adopted a repatriation strategy tied to retention, compared to the overall survey Company has a respondents. They also take a more active role in specific process for career planning repatriation planning, with a greater percentage from assignment than overall survey respondents mandating job acceptance. identification at the end of the assignment.

The companies that view the role of 31% global mobility to be a strategic driver 23% of their organization's talent agenda tend to have better processes in place.

Company has a formal repatriation strategy linked to Companies aligned to the talent agenda also tend career management to have better cost management practices in place /planning and than the overall survey respondents. For example, retention. a significantly higher percentage (81% vs. 61% overall) require cost estimates for all assignment 18% types, and a higher percentage track the actual cost of assignments. 31%

All Aligned to respondents talent agenda

18 Brookfield Global Relocation Services THE LINK BETWEEN GOVERNANCE AND OUTCOMES

There is evidence in this year’s survey results that While 14% of companies overall tell us that the companies that take a more strategic view of rate of attrition for their international assignees global mobility see positive outcomes in their is higher than for their general population, program. For example, they report a smaller that number is less than half that (6%) for the percentage of assignees that experience notable companies that see mobility as aligned to their difficulty adapting to the host location; they talent agenda. In addition, a greater percentage also indicate a smaller percentage of assignments report that the percentage of international with unsatisfactory outcomes due to insufficient assignees that leave voluntarily within one year candidate selection rigor than the overall of repatriation has been decreasing over the survey respondents. past few years.

Companies that see global mobility as aligned to their talent agenda report that assignees are Companies that take a more strategic promoted more rapidly and more frequently than view of global mobility see positive the overall survey participants. In addition, there outcomes in their program. are also positive differences in international assignment attrition.

ORGANIZATIONAL CONNECTIONS AND BUSINESS PARTNERSHIPS

Organizational alignment – structurally and in report into Talent Management, the same small terms of objectives – was an indicator of overall percentage report that they track international enterprise focus on mobility measurement. assignment ROI as the rest of the survey Of those companies where the Global Mobility respondents. However, more of them already have function reports into Talent Management, the building blocks in place to do so in the future. 17% specify they measure the estimated return on investment (ROI) of their international Double the number (38% vs. 19%) gather and assignments, nearly three times the percentage measure international assignment performance for the overall survey participants (6%). And, the results against pre-agreed metrics and an even vast majority (89%) are able to answer confidently higher percentage (83% vs. 57%) consolidate that they think their company has enough results company-wide. Those practices, along internationally experienced talent to meet its with tighter cost management processes, are business objectives, compared to 54% overall. more likely to make measuring international assignment ROI more readily attainable. On the other hand, for the companies that are aligned to the talent agenda, but don’t necessarily

Brookfield Global Relocation Services 19

As Global Mobility leaders ask themselves the same types of questions on the minds of their executive leadership and are able to implement solutions that provide answers, they contribute more strategically and effectively leverage their expertise to help meet some of the toughest globalization challenges companies face today.

CONCLUSION BREAKING THROUGH THE BARRIERS TO DEMONSTRATE INTRINSIC VALUE

Some respondents have clearly broken through results linked to other outcomes viewed by and are on a path to enabling and measuring the business as being most important. talent success via their global mobility strategies and programs. For those companies at an earlier As Global Mobility leaders ask themselves the stage in this evolution, there may be near term same types of questions on the minds of their opportunities to strengthen the connection executive leadership and are able to implement between Global Mobility and both business and solutions that provide answers, they contribute talent management goals. These alignments may more strategically and effectively leverage their be accomplished by the Global Mobility function expertise to help meet some of the toughest implementing improved practices concerning globalization challenges companies face today. cost management, for example, and reporting

Brookfield Global Relocation Services 21 CONTRIBUTORS The following companies participated inthe2016The GlobalMobility followingcompaniesparticipated Trends Survey andgave beidentified. theirpermissionto CNH INDUSTRIAL Cipla Limited Cia Hering CH2M Inc. Caterpillar CA Technologies BRF Bosch Bombardier Inc. BMO Financial Group Bayer AG Avanade Aurecon Australasia ATCO Power ATCO Arup Allianz Group Alfa Laval Akzo Nobel Aker Solutions Agrium Inc. Actelion Accenture AbbVie Exxon Mobil Emirates Telecommunications Eli Lilly andCompany Domtar Corporation Discovery Communications Diamond Offshore DaVita Danfoss A/S Corning Incorporated Colgate-Palmolive Company Coats Groupplc ING BankN.V. IMERYS HSBC HP Inc. Hewlett Packard Enterprise Hess Corporation Herbalife Harsco Corporation FrieslandCampina Ford Company Motor Fidelity (FIS) InformationServices FCA Corporation (Etisalat) InterContinental Hotels Group Novo Nordisk AS Suncor Energy International Flavors & Owens Corning TD Bank Fragrances Inc Panalpina Welttransport AG Technicolor Intuit PETROBRAS Textron, Inc J.P. Morgan Chase & Company Philip Morris International The Hershey Company Jacobs Engineering Group Prudential Financial, Inc. The Northern Trust Company Jaguar Land Rover PSP Investments Thomson Reuters John Deere PVH Corp Tieto Corporation Johnson & Johnson Ralph Lauren Corporation Tigre S/A Johnson Matthey Ramboll TNT Laird Raytheon Company TomTom International BV Lenovo (Beijing) Limited Reckitt Benckiser Tower International Luvata Group Rockwell Automation TransCanada LVMH Inc. Royal Bank of Canada UCB S.A. Manulife John Hancock SAP Volkswagen AG Marcopolo SA Scotiabank VTT Technical Research Centre Medtronic Seagate of Finland Merck & Co., Inc. SGS Walgreens Boots Alliance, Inc Micron Technology, Inc. SODEXO Wells Fargo MOL Plc. State Street Whirlpool Corporation National Oilwell Varco Statoil Yahoo! Inc. Nestlé Stryker Yanfeng Global Interior System Co. Nexen CNOOC SUBSEA7 Nike Sun Life Financial

Survey Findings in Detail 2016 GLOBAL MOBILITY TRENDS SURVEY CONTENTS

THE GLOBAL MOBILITY FUNCTION TRACKING COST AND MEASURING ASSIGNMENT ROI

Role of Global Mobility Function 28 Assignment Cost Estimates 45 Benefit of Global Mobility 28 Assignment Cost-Benefit Analysis 45 Global Mobility Function Reporting 29 Assignment Cost Tracking 45 Global Mobility Collaborative Relationships 29 Challenges Tracking Assignment Cost 46 Global Mobility Team Structure 30 Comparing Actual and Estimated Costs 46 Global Mobility Team Size 31 Formal Measurement of ROI 46 Global Mobility Team's Essential Skills 31 Definition of ROI 47 Future Calculation of ROI 47 BUSINESS AND ECONOMIC CONDITIONS Initiatives to Improve ROI 47

Reducing Mobility Costs 32 MOBILITY PROGRAM DEMOGRAPHICS Impact of Mobility Cost Reduction on Talent Development 32 Assignment Volume Growth Rate 48 Impact of Mobility Cost Reduction on Future Assignment Volume Growth Rate 48 High Potentials' Retention 33 Reason for Assignment Volume Growth 48 Impact of Mobility Cost Reduction Top Assignment Destinations 49 on Strategy Execution 33 Emerging Assignment Destinations 49 Pressure to Reduce Program Costs 33 Assignees by Age Group 50 Cost Control - Top Initiatives 35 Assignees by Gender 50 Assignees by Marital Status 50 MANAGING INTERNATIONAL ASSIGNMENTS

Mobility Policy Suite Structure 36 SOURCING ASSIGNMENT CANDIDATES Assignment Objectives 37 Available Talent to Meet Business Objectives 51 Ensuring a Contribution to Organizational Success 37 Sourcing Assignees from New Locations 51 Assignment Management Challenges 38 Communicating Importance of Assignments Countries Challenging for the Mobility Team 39 to Employee's Career 52 Reasons for Assignment Refusal 41 Assignment Consideration by Female Employees 53 Change in Requirement for Program Reporting 42 Recruiting External Talent Using Mobility Policy 54 Data Driven Reporting Challenges 42 Increase in Assignment Refusal 54 Mobility Program Performance Information 43

Note: Percentages in charts may not add up to 100% due to rounding TRACKING COST AND MEASURING ASSIGNMENT ROI ASSESSING ASSIGNMENT CANDIDATES ASSIGNEE RETENTION & ATTRITION

Assignment Cost Estimates 45 Assignment Career Management Process 55 Attrition Rate for Assignees vs. All Employees 65 Assignment Cost-Benefit Analysis 45 Adopting Assignment Career Management Process 55 Changes in Post-Repatriation Attrition Rate 65 Assignment Cost Tracking 45 Assessing Candidate Adaptability 55 Reason for Post-Repatriation Attrition 65 Challenges Tracking Assignment Cost 46 Use of Candidate Self-Assessment Tool 56 Programs to Increase Assignee Retention 66 Comparing Actual and Estimated Costs 46 Assignment Self-Nomination Process 57 Formal Measurement of ROI 46 Formal Assignee Candidate Pool 57 FAMILY-RELATED ASSIGNEE ISSUES Definition of ROI 47 Candidate Readiness - Leadership Skills 58 Countries with Greatest Challenges for Assignees 67 Future Calculation of ROI 47 Candidate Readiness - Cultural Adaptation 58 Married/Partners Choosing Single Status 68 Initiatives to Improve ROI 47 Reason for Self-Selected Single Status 69 REPATRIATION Spouse/Partner Employment 69 MOBILITY PROGRAM DEMOGRAPHICS Repatriation Strategy Link to Career Management 59 Impact of Spouse/Partner Employment Assignment Volume Growth Rate 48 Timing of Repatriation Discussions 60 on Assignment 69 Future Assignment Volume Growth Rate 48 Job Identification for Repatriating Assignees 60 Impact of Spouse/Partner Employment on Attracting First-Choice Candidates 70 Reason for Assignment Volume Growth 48 Career Impact of an Assignment 61 Obstacles for Female Assignee Candidates 70 Top Assignment Destinations 49 Company Benefits from Assignee Skills 62 Impact of Low Female Assignee Acceptance 70 Emerging Assignment Destinations 49 Assignees by Age Group 50 EVALUATING ASSIGNMENTS Assignees by Gender 50 Reasons for Assignments Failure 63 Assignees by Marital Status 50 Documenting Assignment Objectives 63 Reasons for Not Documenting SOURCING ASSIGNMENT CANDIDATES Assignment Objectives 63 Available Talent to Meet Business Objectives 51 Measuring Assignment Performance 64 Sourcing Assignees from New Locations 51 Consolidating Assignee Performance Metrics 64 Communicating Importance of Assignments to Employee's Career 52 Assignment Consideration by Female Employees 53 Recruiting External Talent Using Mobility Policy 54 Increase in Assignment Refusal 54 THE GLOBAL MOBILITY FUNCTION

Subject matter expert Role of Global Mobility Function 44% Description of the current role of the global mobility function in respondents' companies

Aligned to talent agenda10% Service delivery focus 46%

Benefit of Global Mobility Primary benefit of global 11% Facilitates global mobility to the company Drives expansion and growth business initiatives

Develops high potential employees 9% 80%

THE GLOBAL MOBILITY FUNCTION

28 Brookfield Global Relocation Services 55% oensation Benefits

30% an Resorces

4% alent anaeent Global Mobility Function Reporting Functional global mobility reports to within company structure 4% Sared Services

1% eal oliance

0% inance or a

7% ter

VERBATIM COMMENTS Global Mobility Function Reporting/Other

Executive Reward...Split between HR and Tax...Operations...Talent Acquisition...Global Rewards... Total Rewards...Global Reward...Human Resources-Total Rewards...Total Rewards... Relocation Services section...Pension & Benefits...Policy and Practice

44% an Resorces

Global Mobility 20% oensation Benefits Collaborative Relationships Internal department global mobility has the most collaborative relationship with 14% inance or a

9% alent anaeent

5% Sared Services

2% eal oliance

6% ter

THE GLOBAL MOBILITY FUNCTION

Brookfield Global Relocation Services 29 50% Centralized Global Mobility Team Structure Centralized managing regions 25% Structure of the global mobility team 15% Center of Excellence/Shared Services combination

4% Decentralized regional teams

6% Other

0 20 40 60 80 100

VERBATIM COMMENTS Global Mobility Team Structure/Other

The mobility function is outsourced to a of Center of Excellence...Mobility team global mobility provider...Centralized policy is new and currently developing a global but decentralized execution with no direct mobility strategy framework which includes reporting relationship...Combination of looking at the People Team structure and Center(s) of Excellence and decentralized what needs to be put in place for Mobility... regional mobility teams reporting to a Centralized but totally outsourced to 3rd party regional function who reports to Global Head

THE GLOBAL MOBILITY FUNCTION

30 Brookfield Global Relocation Services Global Mobility Team Size Change in the number of full-time employees managing global Increased Stayed the same mobility over last several years 36% 45%

Decreased 19%

24% Service delivery/process development

15% Achieving cost e ciencies Global Mobility Team's Essential Skills Obtaining business alignment 14% Skills becoming most essential to management of global mobility 14% Risk management/compliance expertise

13% Compensation & Benets knowledge

7% Mobility logistics mastery

5% Talent management/development skills

5% Analytical skills

2% Financial acumen

0 40 60 80 100

THE GLOBAL MOBILITY FUNCTION

Brookfield Global Relocation Services 31 BUSINESS AND ECONOMIC CONDITIONS

Reducing Mobility Costs No Recent efforts to reduce mobility costs 31% in response to economic conditions Yes 69%

Impact of Mobility Cost Reduction on Talent Development Yes Mobility cost reductions impacting ability to grow global talent 35% No 65%

Respondents reducing mobility program costs in response to the economic conditions

BUSINESS AND ECONOMIC CONDITIONS

32 Brookfield Global Relocation Services Impact of Mobility Cost Reduction on High Potentials' Retention Yes Mobility cost reductions impacting ability 30% to retain high potential employees No 70%

Respondents reducing mobility program costs in response to the economic conditions

Yes Impact of Mobility Cost 24% Reduction on Strategy Execution Mobility cost reductions impacting ability No to execute global business strategy 76%

Respondents reducing mobility program costs in response to the economic conditions

Pressure to Reduce Program Costs Change in pressure to reduce mobility Increased costs compared to one year ago 39% Stayed the same 57%

4% Decreased

BUSINESS AND ECONOMIC CONDITIONS

Brookfield Global Relocation Services 33 VERBATIM COMMENTS: REASONS FOR CHANGE IN COST PRESSURE Pressure to Reduce Cost: Increased

Support for globalization is at an all-time high, but same as before...Current and projected agriculture not the costs of doing so. People still expect to be and construction business conditions are driving instantly rewarded through Expat "all-in" packages an overall corporate focus on cost savings, for accepting assignments. With a lack of viable including mobility...Businesses recognize the candidates (talent density) we cannot always say high cost associated with global mobility and are no to high end packages...The easy to achieve cost looking to manage it more effectively, especially savings have been met. Now other areas are relative to the mobility benefits provided to junior looked into for optimization...Ongoing 'bad' assignees...Oil price downturn...The overall results have led to more rigorous cost cutting business environment of the industry...Quality of exercises, including global mobility...What we local staff in foreign subsidiaries has increased in "sell" is our human capital. Clients are cutting the past years...Balancing the financial health of back/asking us to cut back on our costs and when the company and the need to move critical talent this occurs our mobility program is directly where needed is, and [is] always going to be, a impacted...Global economic downturn has challenge. [Company] realizes that for a company affected financial services companies...Multiple to be successful and remain competitive, factors, one factor in particular is poor control economies need to happen...More competitive over exceptions in the past...The company business landscape...Need to deliver more for underwent a global restructuring. There is an less...Wider macro-economic and geo-political effort to refocus on improving product sales and drivers...Continued merger of the company; cutting costs. The restructuring was not aimed at overall cost pressures from the business...Due to global mobility but our global assignee population the financial crisis happening worldwide and was affected by the company strategy...Financial especially in Brazil, along with political issues and pressures within the industry...Significant high taxes...An objective to reduce centralized downturn in the drilling industry...External costs in response to regulatory pressures...Price of stakeholders pushed [the company] to reduce cost oil...Economic pressures...Intensified competition (e.g. personnel cost)...Reduction of costs reduces and economic situation of the company...Payback the manpower and reduces the quality of on mobility benefits is not apparent and results in services...General cost reduction goals within the an entitlement culture - too many roles being company and more scrutiny from the finance moved abroad or centralized into hubs without a department over international mobility...More valid up-to-date business case...Commodity price mobility = more cost = more visibility to the cost decrease requires greater efficiencies and of mobility...Country's economic situation reduction in operating costs...Low oil price (recession)...To be more competitive in the environment has challenged all departments marketplace...To meet targets promised to Wall within the company to focus on costs. We must be Street...Mobility is currently viewed more as able to demonstrate the right balance of cost/ discretionary spend than for development (and benefit to all stakeholders: assignees, local may be being utilized that way as well), therefore, employees and Senior Management (and when times are a little tougher due to reduced ourselves)...Internal pressure...Overspend in the profits there is a natural reduction in mobility previous year, creating more business awareness volume...We have committed to reducing our cost and alignment...Core company business shifted base, and international mobility is a huge cost, so fully to service delivery through [divestiture]; it is an obvious way to help save costs...External mobility programs are driven by the need of being factors, declining market, lower profit margin... market competitive...Uncertainties in the broader Short term impact on costs/finance...Business economic environment...Cost pressures are put on performance in some Divisions...Budget the organization at all levels in all functions constraints...Business development is not the

BUSINESS AND ECONOMIC CONDITIONS

34 Brookfield Global Relocation Services VERBATIM COMMENTS: REASONS FOR CHANGE IN COST PRESSURE Pressure to Reduce Cost: Decreased

We have more employees moving because of cost...Economy is good and we have global business reasons so there is a focus on providing business needs... Reduced numbers of expats... good mobility service and making it [easier] for We recently opened additional offices outside employees to relocate so no focus on reducing the of the country

Using long-term assignment 22% alternatives

Ensuring fewer exceptions 18% Cost Control - Top Initiatives Top initiatives that have successfully contributed to mobility program Finding process cost e ciencies 14% cost control

13% Revamping policy structure

11% Scrutiny of supplier fees

Reducing employee 10% provisions/payments

8% Expanding hiring strategies

4% Selecting better candidates

0 20 40 60 80 100

BUSINESS AND ECONOMIC CONDITIONS

Brookfield Global Relocation Services 35 MANAGING INTERNATIONAL ASSIGNMENTS

53% Single policy suite applied equally

17% Segmentation by business reason

Mobility Policy Suite Structure Core/optional 15% Type of mobility policy suite structure

7% Segmentation by employee level

4% Segmentation by region/geography

1% One-time Lump Sum

3% Other

0 20 40 60 80 100

VERBATIM COMMENTS Mobility Policy Suite Structure/Other

Segmentation based on talent scarcity in host country...A combination of long term, short term, etc. with long term segmented based on strategic, operational, developmental...Suite of policies based upon assignment type and family size

MANAGING INTERNATIONAL ASSIGNMENTS

36 Brookfield Global Relocation Services 30% Fill managerial skills gap

24% Fill technical skills gap

Assignment Objectives International management 15% experience Primary objectives for sending employees on assignment

10% Employee career development

9% Participate in projects

Assimilate new entities/joint 5% ventures

5% Launch new initiatives

1% Other

Align policies with business need 0 20 40 60 80 32% 100

16% Align with Talent Management

Ensuring a Contribution 14% Closer partnership with leadership to Organizational Success Steps to ensure assignments contribute 8% Criteria to measure assignment success to success of the company 7% Service excellence

6% Improve risk management

6% Adopt cost e ciencies

6% Track/measure program performance

3% Align team structure/skills

1% Other

0 20 40 60 80 100

MANAGING INTERNATIONAL ASSIGNMENTS

Brookfield Global Relocation Services 37 17% Compliance/risk management

17% Containing costs

15% Assignee/family adjustments

Complex mobility program Assignment 15% administration Management Challenges 13% Assignee career management Most challenging factors of managing assignments

10% Managing policy exceptions

6% Repatriating employee retention

5% Candidate selection

1% Safety and security

1% Information and data security

2% Other

0 20 40 60 80 100

VERBATIM COMMENTS Assignment Management Challenges/Other

Assignees are encouraged to grow a local the home and host location reversed may be succession plan. However, in a number of a better solution…Global Mobility to be countries it is clear that this is unlikely to be consulted at earliest possible stage in order available in the period designated. There to educate business managers, avoid cherry needs to be more honesty about what is picking and ensure compliance…Schooling feasible and what is not. Assignments with

MANAGING INTERNATIONAL ASSIGNMENTS

38 Brookfield Global Relocation Services Countries Challenging for the Mobility Team

China (1) 14% Saudi Arabia (NA) 4% Mexico (9) 2%

Brazil (2) 12% United Kingdom (7) 3% Venezuela (11) 2%

United States (5) 8% Indonesia(14) 3% Malaysia (19) 2%

India (3) 6% Argentina (6) 2% Philippines (15) 2%

United Arab Russia (4) Switzerland (NA) 5% Emirates (NA) 2% 2%

(Ranked showing percent of companies identifying them; last year’s rank in parentheses)

VERBATIM COMMENTS Countries Challenging for the Mobility Team / Please Describe

Argentina: Securing temporary housing…No jobs and economic conditions…Payroll delivery… for spouses, security issues, exchange rate Tax…Legalizations and immigration issues… fluctuations…Currency restrictions… Understanding the environment; safety & security; Hyperinflation, government regulations…Multiple tax implications…Local employment law acquisitions, payroll, immigration…Link to regulations applying to expats - managing pay/ 'Hard' Currency benefits and policy…Regulatory environment… Employment law…Government, currency and Brazil: Economic conditions…Safety…Standard of living expected was too high…Overall complexity employment laws…Economy, devaluation of (immigration, administration, payroll)…Security Brazilian Real…Location challenges…Foreign and red tape…Local regulations…Immigration and exchange fluctuation & security…Local regulations currency…International assignment housing issues are such a burden and expat unfriendly

MANAGING INTERNATIONAL ASSIGNMENTS

Brookfield Global Relocation Services 39 compounded by current economic climate… Malaysia: Government bureaucracy and rigidity… Complexity involved and having to deliver Remoteness causes employees to create an almost minimum NET salary to employee in Brazil… 'unionized' environment - difficult to keep Statutory complexities…Hardship location… satisfied…Immigration issues…Living and political Compliance…Food…Rapid deflation of Real… conditions not attractive for assignments from Environmental changes in 2015 (high crime rates western countries…Immigration in major cities)…Immigration process delays and Mexico: Safety, security and complicated labor law…Highly bureaucratic, spouses cannot immigration process…Currency…Increased work, expensive expat housing…Local legislation… competition…Housing sponsorship Issues related to the depreciation of the Brazilian currency. This factor means a challenge also in the Philippines: Difficult immigration process… countries in which we have inbound expats from Immigration and set-up…Housing Brazil Russia: Devaluation of Russian Ruble…Currency… China: Family concerns over quality of living/ Local regulations (e.g. labour law/immigration/tax pollution…Financial administration of mobility implications) during and post assignment… expenses…Work & residence permit…Language Compliance & currency volatility…Immigration, skills and adaptability…Currency, making shadow payroll…Remote location, no jobs for payments…Pollution, quality of life…Pollution spouses, security issues, exchange rate concerns from assignees……Quality of living… fluctuations…Economic situation, no pay split… Hardship location…Cultural differences and local Current sanctions…Legal framework…High living standards…Compliance risk…Strict money fluctuation of FX rate…Issues related to the transfer rules for employee and company… depreciation of the Russian currency…Political Getting funds out of China…Work permit… environment…Government regulations, high costs Accommodations…Red tape, cultural challenges… Saudi Arabia: Visa/immigration process and Standard of living not meeting expectations of requirements are very complex and assignees…Health issues relating to air pollution administratively and food quality…Immigration process… Switzerland: Significant reduction in work permit Adaptation to local culture…Tax structure…Costs quotas…Cost…Complicated immigration and high India: Housing and security…Adaptation to local mandatory costs…Compensation…Revaluation of culture… Challenges with tax and immigration the currency during Q1 2015…Housing…Local laws considerations…Government…Payroll issues … and immigration challenges… Local laws…Jobs for expat spouses…Corporate tax United Arab Emirates: Navigating rules and / PE issues…No jobs for spouses, tough living regulations difficult…Tax Protection Policy then environment, exchange rate fluctuations…Red repatriating them or moving them onto a new tape, cultural challenges assignment applying hypo tax…Compliance Indonesia: Complex immigration arrangements… needs…Social issues…We are setting up a new Immigration process…Visa difficulties…Emerging legal entity to hire both locals and expats. Local country…Cost and living standards…Challenges regulations and requirements proving difficult… with tax and immigration considerations…Safety Office closure due to challenging labor market

MANAGING INTERNATIONAL ASSIGNMENTS

40 Brookfield Global Relocation Services United Kingdom: Determining appropriate visa Immigration…Cultural differences…Immigration categories…Immigration restrictions…Cost… bureaucracy…Visa limitations…Fluctuating real Payroll tracking and compliance…New tax laws / estate markets and currency compliance…Cost of housing for assignees… Venezuela: Extreme currency devaluation; lack of Compliance and impact on global benefits plan goods locally…Economic and security situation… implementation…Tax Inflation and currency volatility…Inflation and United States: Foreign exchange rate impacting exchange rate issues…Fixed exchange rate… equalized assignment…Compensation…Taxation… Immigration…Cost of living…Extreme hardships, Taxes and laws…Social security matters…Cost of lack of essentials...Economic situation living…Unwillingness to support green card…

38% Family concerns

Spouse/partner career/income 18% Reasons for Assignment Refusal Candidate uncertain reward is Most common reason for 16% worth move assignment refusal

Perceived insu cient 15% compensation

4% Location related concerns

8% Other

0 20 40 60 80 100

MANAGING INTERNATIONAL ASSIGNMENTS

Brookfield Global Relocation Services 41 VERBATIM COMMENTS Reasons for Assignment Refusal/Other

Combination of family concerns and down....Loss of dual income if assignee candidate not being certain if potential is is accompanied...This is not monitored... worth the move....We don't get candidates Not tracked...We do not track this data who turn down international assignment today...For us it’s a mix of family concerns opportunities on a regular basis. It is rare for and perceived insufficient compensation an assignment opportunity to be turned

Change in Requirement for Program Reporting Stayed the same Changes in amount of data, analytics 39% Increased and benchmarks requested by 59% senior management

3% Decreased

44% Data from unconnected sources

19% Data not captured Data Driven Reporting Challenges Primary challenges in producing 14% Questionable data accuracy data driven reporting

11% No time/resources

4% No internal analytical expertise

8% Other

0 20 40 60 80 100

MANAGING INTERNATIONAL ASSIGNMENTS

42 Brookfield Global Relocation Services VERBATIM COMMENTS Data Driven Reporting Challenges/Other

Not requested in past; putting appropriate Reporting is easy so not a challenge... report together...Data capture by several Lack of software tools...Presentation of suppliers...Actually we have accurate data... data... Difficulty benchmarking data

Mobility Program Performance Information Areas of mobility program information / data mobility leaders

Demographics would most like to have access to COMPLIANCE DATA COLA Demographics Demographics Diversity

ASSIGNEE Tax Data FX Fluctuation ACTIVE ASSIGNMENTS Compliance Data PERFORMANCE Policy Benchmarking CAREER PROGRESSION SAFETY Mobility Trends Compensation RETENTION REPATRIATION ROI HousingTalent Data MOBILITY COST Pool Budget CandidateExceptions Selection Cost CONSOLIDATED vs Cost REPORTING Immigration

VERBATIM COMMENTS New or innovative mobility programs/policies recently implemented or considered for implementation in the next 18 months

We will implement a flexible system in 2016 with on whether a move is employee or company heavy focus on talent development....Flexible initiated...Looking at a host based approach; approach towards home leave. Implementing a formalized a regional program in MENA for new budget for travelling during vacation in the [host] hires...We are working on the segmentation - have region ...One synchronized approach for short base line for all with different package dependent term business travelers with centralized per on reason for the international assignment...Expat diems....Within a framework we have numerous Lite AVP Professional Development...We will shift policies - there are core + flex options depending to segmentation based on business reason and

MANAGING INTERNATIONAL ASSIGNMENTS

Brookfield Global Relocation Services 43 taking destination into consideration... Home marked in industry...Program changes removed country based tax equalization for all international some discretionary cash, however increased assignees... Segmentation based on business family/spousal support, reduced redundant reason...Local Plus...Clearer connection between provisions such as air shipment...Having a more talent management and mobility having structured international expat policy for commuters and self-motivating package offers... consistency...We are looking at centralizing We are looking to implement a core/flex approach assignment costs... European Commuter Policy to our cross border (perm) policy globally... (Regional), In-country Commuter (Regional-India Globalist Assignment (for global nomads or and China)... There are currently no plans. Focus is international pool of talent)...Developing on alignment, increased service delivery and localization strategy and recommendation...We effectiveness and cost reduction...Repatriation will be implementing a core/optional program program: facilitating the cooperation between the next quarter...Add segmentation based on repatriating assignee and his/her mentor in the employee level on certain benefits and home country...Lighter packages for consultants in restructuring per diems for short term order to move more people from delivery centers assignments to cut costs...Exchange Program - to customer locations....Renewal of the current one-for-one developmental exchange assignments suite of policies...Making more use of for our first time leaders with future senior localizations... Segmentation based on different leadership potential... We will be implementing a business groups ...Providing a wide range of set of policies that differ based on business mobility policies to provide business appropriate reason. We will also be introducing a managed support/cost balance for mobile associates, also lump sum approach for relocation costs for certain incorporating a global employment company... policies...Will review all policies and consider After certain period of home base assignment, so making the Tax Protection Policy for Middle East called soft landing to be applied, which means the countries obsolete...Differentiated packages gradual out-phasing of assignment allowances... according to talent programs...We have a mutually Local plus, global talent rotations...Short term beneficial international local hire policy... policy for assignments of 12 months to 18 months Reassessment of Extended Business Trip duration and intra-regional policy for assignments guidelines to cover assignments 3-6 months based within a geographic region with a duration no on new tax regulations... Exploring the use of longer than 3 years...Core-flex program targeted lump sum payments for domestic relocation... at low cost project move…Providing the flexibility Considering implementation of a top talent in applying benefits for employee...Looking at rotational program to attract top junior profiles... host plus approaches for temporary assignments Partner/spouse allowance for job search or since we are already taking this approach qualification... Developmental assignment policy... informally...Segmentation based on business We have developed a local policy covering all the reason and employee level…Localization gaps the international transfer policy may have framework and better developed short term policy when it comes to region specifications.... Releasing total revision of all international programs which have been fulsomely bench

MANAGING INTERNATIONAL ASSIGNMENTS

44 Brookfield Global Relocation Services TRACKING COST AND MEASURING ASSIGNMENT ROI

Yes - Certain Assignment Cost Estimates assignment types Preparation of cost estimates before 31% assignment initiation

Do not prepare Yes - All 9% assignment types 61%

Yes - All Assignment Cost-Benefit Analysis assignment types Requiring a cost-benefit analysis as part of 26% the assignment business justification Do not prepare Yes - Certain assignment types 57% 18%

Assignment Cost Tracking No Yes Company consistently tracks actual 49% 51% assignment costs

TRACKING COST AND MEASURING ASSIGNMENT ROI

Brookfield Global Relocation Services 45 39% Multiple systems and data sources

16% Lack of su cient technology Challenges Tracking Assignment Cost 13% Gathering accurate host payment data Most common challenges in tracking assignment costs

12% Tracking tax payments/refunds

9% Lack of internal resources

6% Gathering accurate payroll data

6% Categorizing/interpreting service fees

0 20 40 60 80 100 Yes Comparing Actual and Estimated Costs 24% Comparing of actual vs. estimated assignment cost at the end of assignment No 76%

Yes 6%

Formal Measurement of ROI Measuring of Return on Investment (ROI) of the mobility program

No 94%

TRACKING COST AND MEASURING ASSIGNMENT ROI

46 Brookfield Global Relocation Services Definition of ROI Company measurement of Return Qualitative on Investment (ROI) is quantitative 44% Quantitative or qualitative 56%

Respondents who measure the Return on Investment (ROI) of their mobility program

Yes Future Calculation of ROI 22% Company will begin to calculate Return on Investment (ROI) in the future Unsure No 19% 59%

stablisin docentin 32% trackin obectives

24% areer at lannin Initiatives to Improve ROI Initiatives to improve Return on 16% reassinent costbenefit analsis Investment (ROI) of the assignment program 14% roved candidate selection

8% oansonsored entor rora

roved assinent 6% rearationsort

TRACKING COST AND MEASURING ASSIGNMENT ROI

Brookfield Global Relocation Services 47 MOBILITY PROGRAM DEMOGRAPHICS

Assignment Volume Growth Rate Decreased Stayed the same Assignment volume growth rate in 2015 35% 37% compared to 2014

Increased 28%

Future Assignment Increase Stay the same Volume Growth Rate Assignment volume growth rate 36% 39% in the next two years

Decrease 25%

66% Business growth 66% Business growth 17% Merger & acquisition activity 17% Merger & acquisition activity 8% Changing assignment objectives 8% Changing assignment objectives Reason for Assignment 3% Workforce dynamics Volume Growth 3% Workforce dynamics Reason for future increase in 0% Recruitment strategy international assignments volume 0% Recruitment strategy 5% Other 5% Other 0 20 40 60 80 100

R0espondents who believe20 that the number4 0of international 60 80 100 assignments in their company will increase Respondents who believe that the number of international assignments in their company will increase MOBILITY PROGRAM DEMOGRAPHICS

48 Brookfield Global Relocation Services Top Assignment Destinations Companies' top destinations for assignments in 2015

United States (1) 22% Switzerland (9) 5% Mexico (12) 2%

China (2) 11% Hong Kong (6) 4% Australia (NA) 2%

United Kingdom (3) 8% Netherlands (17) 3% Canada (14) 2%

United Arab Emirates Singapore (4) France (7) 6% (13) 3% 2%

Germany (5) 5% Brazil (10) 2% India (8) 2%

(Ranked showing percent of companies identifying them; last year’s rank in parentheses)

Emerging Assignment Destinations Companies' top emerging destinations for assignments in 2015

China(1) 8% India (13) 4% Australia (11) 2%

United States (7) 8% Brazil (2) 3% Germany (12) 2%

United Kingdom Singapore (NA) 6% Malaysia (4) 3% (NA) 2%

United Arab Emirates (3) 5% Philippines (15) 3% Canada (NA) 2%

Mexico (5) 4% Saudi Arabia (NA) 3% Indonesia (9) 2%

(Ranked showing percent of companies identifying them; last year’s rank in parentheses)

MOBILITY PROGRAM DEMOGRAPHICS

Brookfield Global Relocation Services 49 11% 20 - 29 years old Assignees by Age Group Percentage of current assignees by age group 31% 30 - 39 years old

38% 40 - 49 years old

17% 50 - 59 years old

3% 60+ years old

Female 0 20 40 60 80 100 Assignees by Gender Percentage of current 25% assignees by gender Male 75%

49% Married/partnered men

22% Single men Assignees by Marital Status Percentage of current assignees by marital status 19% Married/partnered women

10% Single women

MOBILITY PROGRAM DEMOGRAPHICS

50 Brookfield Global Relocation Services SOURCING ASSIGNMENT CANDIDATES

Available Talent to Meet No Business Objectives Sufficient availability of international 26% talent to meet business objectives Yes

Unsure 54% 20%

Sourcing Assignees from New Locations Yes Recruitment of mobile talent 30% from new or non-traditional regions/locations No 70%

SOURCING ASSIGNMENT CANDIDATES

Brookfield Global Relocation Services 51 VERBATIM COMMENTS Sourcing Assignees from New Locations – Please Describe

Many short term projects nowadays with people sources globally mobile talent from all regions... from all kind of countries on short term Due to the nature of our business and the different assignments/business travel..."India, LATAM and locations worldwide, we have international APAC...Actively engaging in emerging markets and assignees from and to each location to increase areas where we are making new investments to the international experience of our talent....We grow and develop talent locally...Local talent explore sourcing talent in any new country or councils are established to get a hold of local region where we may be acquiring assets, talents...India, China, Brazil...We source globally, exploring new business ventures, etc. or where we also in countries where we do not have offices... believe competency and skills have become The Talent Acquisition & Planning function is available...More and more talents from third currently utilizing external suppliers to understand countries (not headquarters) are sent on available talent pools...Expanding in Middle East assignments...For higher positions, highly qualified and ASEAN...Utilizing talent from Chile and talents with proven international experience from Mexico for the first time - assignments within the all over the world...India, Philippines, Malaysia... South American region...External local hires from Global talent rotation policy ensures knowledge countries [where] we don't have any presence... sharing and talent development between Working in Asia to find new hires willing to work developing and developed locations and vice in Africa. Usually UK nationals currently on versa...The company is starting to consider assignment...The Shared Service Center usually international mobility as an opportunity of was not a source of mobile talent. Now it's professional growth in Asia Pacific...We are changing...Asia expanding hires from tradition of currently testing a recruiting initiative from Latin Hong Kong - now using China, Singapore...China, American countries to staff some open positions in Peru, Chile...More assignments don't touch HQ APJ; aim is to get the skills where it exists and get locations...We are leveraging those from Argentina it where we need it, optimizing the time to hire due to [their] economic conditions [and wanting] and therefore associated cost...India and Poland... to leave country on a permanent basis...In each We are sourcing more developing markets talent location where we are in business we identify and like Malaysia, India, etc., although the majority of train local talent including international expats still come from developed markets in EU assignments...Through acquisitions...Company and NA

Communicating Importance No of Assignments to 39% Yes Employee's Career Company communicates the 61% importance of assignments to employee's career

SOURCING ASSIGNMENT CANDIDATES

52 Brookfield Global Relocation Services Assignment Consideration by Female Employees Yes 43% No Increased consideration of assignments by female employees as a result of company's communication 57% about their importance for career optimization

Respondents who communicated importance of international assignment for optimizing employees' career

VERBATIM COMMENTS Companies in Which Communication of the Importance of Assignments to Employee's Career Increased Interest by Female Employees – Please Describe

Yes, our employees know that in order to grow, like the male counterparts...Same communication international experience is a must!...The interest is for male and women, no differentiation; as a always high, there is not an increase....Depending medium company with many small affiliates, on the business segment, there are [some areas international mobility is important if you are with] more women on mobility than men. Efforts willing to grow within [company]...From an have been made to increase those numbers as international permanent perspective we are well...International experience is a mandatory always 20%+/- higher than industry...International development step towards senior global executive experience is one of the 5 "mandatory career roles...More women (mostly single) inquire about steps" at [our company]...Young female talents are international assignment opportunities...The encouraged to take an international assignment... diversity programs are linked to global learning Interest of female employees increased with our programs and international assignments.... internal project that develops, attracts, retains [Company] is very strong about its diversity and and engages talented women at [company], and inclusiveness and encourages women to take its communication...Encouragement for women as international assignments by having a range of international assignees early career opportunities... family friendly policies that provide solutions to ...Increasing to locations where single females or some childcare concerns and make this decision married females have the possibility to work...Our easier for female assignees...Depends on project internal networks have specific focus groups location as to interest of female employees... targeting female employees that confirm the Women are aware that an international career/ awareness of the international opportunities and international job experience is important to take a potential career impact...The messaging is really next step in careers...It has increased the interest about career experiences you need and the of female employees for an international international assignment is implicit in this opportunity...Young female employees are more messaging. There is significant interest in mobile and have more willingness to take international assignments at a time when we are opportunities abroad...They want to get ahead just scaling back on traditional assignment packages

SOURCING ASSIGNMENT CANDIDATES

Brookfield Global Relocation Services 53 Recruiting External Talent Using Mobility Policy Yes Active use of mobility policy for external 41% No talent recruitment 59%

Yes

Increase in Assignment Refusal 15% Increase in the first choice candidates’ assignment refusal over the past 2 years

No 85%

SOURCING ASSIGNMENT CANDIDATES

54 Brookfield Global Relocation Services ASSESSING ASSIGNMENT CANDIDATES

Yes Assignment Career Management Process Company has a specific process for career planning 23% from assignment acceptance

No 77%

No Adopting Assignment Career Yes Management Process 40% Company intends to incorporate formal career 60% planning in conjunction with assignment acceptance

Respondents without a specic process incorporating formal career planning from assignment acceptance

Yes 22% Assessing Candidate Adaptability Company uses formal tools to gauge candidate assignment adaptability No 78%

ASSESSING ASSIGNMENT CANDIDATES

Brookfield Global Relocation Services 55 VERBATIM COMMENTS How do you use the Formal Assessment Tool Results

To determine capability to work on higher spec intercultural training in order to make the rigs, used for [career development] purposes...To transference a smooth process, with less determine if the employee and their family would intercultural impacts...Candidate assessments be successful on assignment, adapting to new and tools used are determined by HR and the things and places...They are used to create business group they support - it is not handled in statistics to improve our internal mobility the mobility function...Through external provider processes, such as selection, training and through a psychological assessment for potential repatriation...Good results to prepare the new assignee and family...Shared with Global Mobility candidates...Often generic and when HR business manager and receiving HR manager...To determine partners explore talent for international suitability...Assist potential expat in making assignments they are often less flexible than decision whether or not to take assignment... stated in the formal assessment tool...We do not Preparation and awareness for employee as well have a formal candidate assessment tool. We do it as potential management tool...To access via various intense interviews...For employee expected success of the assignment and flag any selection...To ensure we are meeting assignee potential issues needs and making adjustments as needed... Whenever needed the company provides

Yes Use of Candidate Self-Assessment Tool 29% Company uses a candidate self-assessment tool

No 71%

ASSESSING ASSIGNMENT CANDIDATES

56 Brookfield Global Relocation Services Assignment Self-Nomination Process No Company has a process for employees to formally designate themselves as willing 33% to accept assignments

Yes 67%

Formal Assignee Candidate Pool Yes Maintaining a formal candidate pool for future assignments 27%

No 73%

ASSESSING ASSIGNMENT CANDIDATES

Brookfield Global Relocation Services 57 Candidate Readiness - Leadership Skills Percentage of assignees in leadership 74% positions that possess the skills to be a leader in the host culture (negotiate, of assignees in leadership lead employees and resolve conflict) positions possess the skills to be a leader in the host culture

Candidate Readiness - Cultural Adaptation Percentage of assignees experiencing difficulty adapting to local culture 18% or business environment of assignees experiencing difficulty adapting to local culture or business environment

ASSESSING ASSIGNMENT CANDIDATES

58 Brookfield Global Relocation Services REPATRIATION

Yes Repatriation Strategy Link 18% to Career Management Company has a formal repatriation strategy linked to career management/planning and retention No 82%

VERBATIM COMMENTS Describe Your Repatriation Strategy Linked to Career Management

Planning for next position begins at least 6 Integration of future returns in people reviews and months before end of assignment...We have career discussion process 6 months before return repatriation terms in our policy that we post for and follow up of annual appraisals...Long term all employees and localizing is usually done by personal planning data base, mentoring concept... exception. The intent is for employees to take Handled within the business as part of the their knowledge/experiences/connections back employee's career planning and redeployment with them to their home location...Assignment upon assignment conclusion...International objective, post assignment plans, ongoing assignment and repatriation a part of the career succession management discussions...Managed planning for high performing individuals...The within each business unit, in some areas of the assignee will, prior to repatriation, be linked to business there is formal career coaching provided a 'mentor' in the home country leadership team. through external vendors...Technically one exists, The mentor's responsibility is to assure that the however practically objectives typically change assignee is 'landed' successfully in regards to before the repatriation occurs and gaps result, career management in the home country... often resulting in either termination upon Repatriation program in place to cover costs repatriation or shortly thereafter...Performance associated with returning; return to job or receive and succession planning, as well as responsibility package; medical assessments sometimes for career development, comes under Global required...For those in specific management roles, Mobility...Career counsellor connection...Per our there is a structured career management/planning policy, [company] will try to place the expatriate process in place in a US role upon return from assignment...

REPATRIATION

Brookfield Global Relocation Services 59 Timing of Repatriation Discussions 8% Before assignment start Timing of first discussion regarding repatriation planning

28% >6 months before repatriation

50% <6 months before repatriation

14% Doesn't take place

0 20 40 60 80 100

Informal networking 34%

Job Identification for Repatriating Assignees Originating department 26% Most common methods to identify positions for repatriating assignees Formal job postings 8%

Do not assist 7%

Other 25%

REPATRIATION

60 Brookfield Global Relocation Services VERBATIM COMMENTS Job Identification for Repatriating Assignees/Other

Talent Councils...Both informal as well as formal Sometimes it is in the department where the job postings and identification by the department assignment was authorized, other times it is a new that originally authorized the international returning unit...Executed at a business unit level... assignment...Mixed onus on employee to use [Company’s] HR will work to see if an opening is networks as well...Internal resourcing team... HR present for the repatriating colleague...Joint business partners work with management to project work between home country, functional identify jobs for mid/higher level employees. network, activity HR and group HR...Facilitated by Lower level employees work with staffing group... Talent group...Identification of a job by the Sending organization will meet with leadership to department that originally authorized the identify potential roles. Not a requirement/ international assignment...Identified by our mandatory but expected. If nothing identified management team...Combination of the formal employee will network and apply for roles and informal process...Normal career planning... formally...HR and business unit succession and Next steps are determined and shared with talent management discussions...HR and employee... Career management meetings...It's all employee themselves (depends on level) ...Many contingent on the assignee & circumstances & remain in same position but different location... timing/case by case... Home group has Succession planning...On the fly...Reporting and responsibility...Company's leadership team... partnering with HR business partner organization Global mobility team identifies the position in on returning assignee placement...Talent home country by circulating updated profile of the management process - annual review of talent and candidate within department heads of relevant open positions...Employee returns to their current departments. In case no position is found, position...Mix of networking and role postings... candidate is placed in the department where he/ HR and management collaboration...Global she was working prior to the assignment, till the Mobility Services engages home and host time a suitable position is found...Formal job stakeholders (HR and business leadership) one postings or managed selection processes at a year prior to repatriation to identify a role. global level

43% More likely to be future leader Career Impact of an Assignment Impact of an assignment on 23% More rapid/frequent promotions employees' careers

6% More likely to leave company

19% No discernible impact

9% Other

REPATRIATION 0 20 40 60 80 100

Brookfield Global Relocation Services 61 VERBATIM COMMENTS Career Impact of an Assignment/Other

The majority of assignments are project the identified objective of the move, personal related, not specifically set up to benefit an vs. business request vs. contract delivery; employee's career...We have not analyzed it also varies depending on the employee’s impact...Depends on level... Mixed aspirations....Attrition rate is higher for depending on the quality of the expat... former assignees but those that stay tend Deeper skills in cross culture, business to be promoted more rapidly… acumen and technology...Depends on the reason for the assignment...It depends on

41% nolede transer to tre assinees

37% titde to condct cross border bsiness

14% ssessent o eloee otential Company Benefits from Assignee Skills 3% o areciable benefit or coan Company’s primary benefit from assignee’s skills and experiences post assignment 4% ter

REPATRIATION

62 Brookfield Global Relocation Services EVALUATING ASSIGNMENTS

33% Family related issues

18% Poor candidate selection Reasons for Assignments Failure Factors most commonly responsible for 18% Cannot adapt to host location assignments not going as planned

14% Job expectations not met

Compensation-related 7% dissatisfaction

5% Quality of life

4% Security/safety concerns

0420 06080100 Documenting Assignment Objectives Yes The employee's assignment objectives 38% are documented and specific business No outcomes are expected 62%

66% No process in place

11% Not considered important 66% No process in place

11% Not considered important 10% Lack of resources Reasons for Not Documenting Assignment Objectives 10% Lack of resources Reasons for not documenting assignment 13% Other objectives/outcomes 13% Other 0 20 4060 80 100

0Respondents who 20do not document assignment406 objectives0 and expected business80 outcomes 100 Respondents who do not document assignment objectives and expected business outcomes

EVALUATING ASSIGNMENTS

Brookfield Global Relocation Services 63 VERBATIM COMMENTS Reasons for Not Documenting Assignment Objectives/Other

No process, lack of resources and in midst of Just introducing this for some assignment acquisition...Assume business is doing this... types...Objective tools run by year so refresh Inconsistently done today based on business annually...Program very new...Individual unit. Plan in place to implement a process management by objectives does exist... starting next quarter...Have robust Managed by the business, not by Mobility... performance management processes and There is a company process which foresees development plans that apply to all yearly objectives to achieve. It is applied also employees and not just assignees... during the assignment abroad…

Yes Measuring Assignment Performance 19% Company gathers and measures performance results against pre-agreed metrics

No 81%

Consolidating Assignee No Performance Metrics Yes Performance results are consolidated to measure 43% assignee performance company-wide 57%

Respondents who gather and measure the assignment performance results against pre-agreed performance metrics

EVALUATING ASSIGNMENTS

64 Brookfield Global Relocation Services ASSIGNEE RETENTION & ATTRITION

Attrition Rate for Assignees vs. All Employees No Attrition rate for assignees returning within Unsure past 2 years is greater than for employees 38% who have not been on assignment 48%

Yes 14%

Increased 14% Changes in Post- Repatriation Attrition Rate Decreased Recent fluctuation in voluntary assignee 12% Stayed the same attrition (within 1 year of repatriation) 75%

34% New role expectations not met

32% Employee more marketable Reason for Post-Repatriation Attrition Most common reason for assignees to leave 16% No opportunity to use experience company after repatriation

1% Poor assignment experience

16% Other

0 20 40 60 80 100

ASSIGNEE RETENTION & ATTRITION

Brookfield Global Relocation Services 65 VERBATIM COMMENTS Reason for Post-Repatriation Attrition/Other

Lack of work in returning location (we are a career orientation...We don't need them consulting/project management based anymore...New role does not meet firm)...No role available... Recent expectations, but we do not exactly know restructuring/new role does not meet when/why the assignee leaves...Repatriation expectations... No jobs available... Unsure, only occurs when the employee resigns in the have very high retention rate upon new country and decides to go back to their repatriation...Almost zero so not an issue... home country...Seeks other employment Personal reasons... Company did not have opportunities/interests... Termination... Right 44% o initiativesroras in lace role for repatriating colleagues... We do not now no one is leaving due to industry currently monitor...We do not have retention conditions issues - our employees have a longrocess term to identi ne osition 35% rereatriation

23% ortnities to tilie eerience 44%ostassinento initiativesroras in lace

rocess to identi ne osition 23%35% efinerereatriation role and eectations

ortnities to tilie eerience 23% ostassinent 16% Greater ail sort Programs to Increase Assignee Retention 23% efine role and eectations Programs/initiatives used to increase assignee retention nternal conications abot 11%16% Greaterassinent ail sort vale

11% nternal conications abot 9% assinentter vale

9% ter

Resondents rovided ltile anser s

Resondents rovided ltile ansers

VERBATIM COMMENTS Programs to Increase Assignee Retention /Other

Claw back on costs made to ensure that the program...We currently do not have a assignee pays for costs him/herself...Expat program in place...Will begin stronger sponsor program...None...Discussion to programs this year…Program under introduce repatriation cultural awareness construction ...Aligning international mobility meeting...Repatriation benefits...Have none with talent management but planning to set up some...Sponsorship

ASSIGNEE RETENTION & ATTRITION

66 Brookfield Global Relocation Services FAMILY-RELATED ASSIGNEE ISSUES

Countries with Greatest Challenges for Assignees Countries with greatest challenges for assignees, spouse/partners and children

China(1) 19% United States (7) 5% Iraq (16) 2%

Brazil (2) 7% Mexico (6) 4% Nigeria (NA) 2%

United Kingdom India (3) 7% Indonesia (9) 3% (17) 2%

Russia (5) 6% Singapore (NA) 3% Angola (11) 2%

Saudi Arabia United Arab Emirates (NA) 5% (13) 3% Argentina (4) 2%

(Ranked showing percent of companies identifying them; last year’s rank in parentheses)

VERBATIM COMMENTS Countries with Greatest Challenges for Assignees /Please Describe

Brazil: Security issues…Remote in-country operations…Hardship location…Language/culture/ locations with limited international schooling or quality of life…Visa issues for unmarried couples… none…Safety and security…Access to international Family matters…Pollution, small cities… Schooling schools…Language and currency…Duration of and education - hardship location plus exchange legalization processes…Safety and security rates…Health…Cultural differences, climate… concerns…Bureaucracy…Safety/security/health Culture, pollution…Standard of living…Air pollution and food quality…Language...Remote China: Tier 3 cities do not have international in-country locations…Pollution / Quality of education available…Quality of living issues…Air living…Cultural differences…Security/health quality, access to healthcare…Cultural and concerns…Cultural barriers…Pollution, weather, environment adaptation…Costs…Air pollution health concerns for family…Language and access to international schools…Language…Immigration India: Location issues; we offer more home trips and local living environment…Remote than normal for this location…Culture…Lack of

FAMILY-RELATED ASSIGNEE ISSUES

Brookfield Global Relocation Services 67 spouse work options and cultural adaption… Saudi Arabia: Security and cultural challenges… Cultural differences, local living standards… Cultural…Typically immigration causes delays for Operating in everyday life is difficult due to both the employee and spouse…Socio-cultural general hardship levels of the country…Cultural issues…Culture differences…Immigration process and environment adaptation…No jobs for spouses and requirements…Security…Singapore: and difficulties linked to traffic…Difficult in terms Language, culture…[Acceptance of] same sex of safety and local opportunities…Security… couples…Taxes…Cultural differences…Schooling… Schooling and education… Indonesia: Immigration requirements… Immigration (work visa), not accepting same-sex United Arab Emirates: New location for us… marriages, high crime rate…Immigration Housing and schooling…Cultural challenges… restrictions…Security, culture…Cost and Typically immigration causes delays for both the infrastructure…Emerging country, safety, employee and spouse…Immigration process and remoteness of area… cultural differences…Social/ability to acclimate… Mexico: Safety…Schooling, housing/safety United Kingdom: Cost…Taxes and laws…Assignee concerns…Environment, security…Safety and/or spouse needs/demands…Compensation concerns…Security… and tax costs… Nigeria: Crime…Hardship location…Emerging United States: Taxes and laws…Assignee and/or country - relatively new country for us…Cost and spouse needs/demands…Different standard of security…Security…Safety, health concerns… living (proximity to city life)…Spouse not provided work visa…Immigration…Cost of living…Culture… Russia: Political situation, etc…Immigration (work Cost of housing in certain areas…Visa…When visa), not accepting same-sex marriages, high coming from Europe, perceived deficiencies with crime rate…Safety; foreign exchange concerns… school system and pension concerns…Visa… Spouse can't work…No jobs for spouses and Immigration process education issues…Anti-foreigner sentiments… Unstable economy…Lack of infrastructure for expatriates…Security concerns...

Married/Partners Yes Choosing Single Status More married/partnered assignees going on 27% long-term assignments as 'single-status' No 73%

FAMILY-RELATED ASSIGNEE ISSUES

68 Brookfield Global Relocation Services 55% Spouse/partner career concerns

55% Spouse/partner career concerns 21% Host quality of life

21% Host quality of life Host education quality 14% Reason for Self-Selected Single Status

Host education quality Reason for increase in self-selected single 14% status for long-term assignments 7% Host lack of family support 7% Host lack of family support 2% Host safety and security 2% Host safety and security 0 20 40 60 80 100 Respondents with more married/partnered assignees self-selecting 0 20 40 60 80 100 as single-status for long-term assignments Respondents with more married/partnered assignees self-selecting as single-status for long-term assignments Not employed prior to or during assignment Spouse/Partner Employment 31% Employment status of the spouse/partner Employed prior to assignment only accompanying the assignee Employed before and during assignment 16% 49%

4% Employed during assignment only

Increase Impact of Spouse/Partner Employment

Stay the same on Assignment Acceptance 39% Spouse/partner employment related resistance to 56% accepting an assignment in the future

5% Decrease

FAMILY-RELATED ASSIGNEE ISSUES

Brookfield Global Relocation Services 69 Impact of Spouse/Partner Employment on Attracting First-Choice Candidates Signicant impact Impact of spouse/partner employment concerns 32% Slight impact on ability to attract first choice candidates 51%

No impact 16%

Obstacles for Female Assignee No Candidates Females face greater obstacles to accepting 41% Yes assignments than males 59%

Impact of Low Female Yes Assignee Acceptance 37% Adverse impact of low female acceptance No of assignments on creating a gender balanced senior management team 63%

FAMILY-RELATED ASSIGNEE ISSUES

70 BrookfieldBrookfield Global Global Relocation Relocation ServicesServices VISIT THE GLOBAL MOBILITY TRENDS MICROSITE globalmobilitytrends.brookfieldgrs.com

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Brookfield Global Relocation Services 71 GLOBAL MOBILITY TRENDS SURVEY 2016 DATA EXPLORER globalmobilitytrends.brookfieldgrs.com

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About Brookfield Global Relocation Services

Brookfield Global Relocation Services develops and implements comprehensive talent mobility solutions for corporate and government clients worldwide. With deep industry experience and unparalleled insights on the future of talent mobility, we enable our clients to craft mobility programs that will empower them to attract, retain and develop top performers. With nearly 2,000 people across five continents, we combine a global perspective with deep on-the-ground resources in local markets. As an operating company of Brookfield Asset Management, a leading global alternative asset manager, we have the financial strength, stability and ability to scale necessary to be a long-term partner to the world’s largest organizations as well as smaller, expanding companies.

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