Even a short posting abroad can have significant, long-term career benefits.
It’s never been easier for people all over the world to communicate; international teams can be connected by email, intranet, phone and even video calls. However, there is still no real replacement for face-to-face interaction. Companies post staff overseas for a number of reasons; there might be a specific project or sales opportunity, a larger project such as setting up a regional office and training local staff, or the company may wish to more closely integrate a large global team. For a company, the benefits are clear but is it worth the upheaval for the individual?
A stepping stone to a brighter career
Overseas work experience can bring with it a number of benefits, and can prove to be a vital stepping stone in a developing career. Many who feel like they have plateaued in an organisation or are frustrated at the lack of further opportunities may find that a role in a new company opens up new prospects. For many the experience of living and working abroad often means improved language skills as well as personal organisation and resilience, which are transferable and desirable skills in the job market.
The cost of a currency salary
While the bigger picture may show clear benefits, in the short term it’s worth considering the financial aspect; fluctuations in currency exchange rates could have an impact on income. The conversion of wages from one currency to another to cover living costs is just one example, and there isn’t always a simple solution. A company could offer to pay a salary in the local currency for the duration of the posting but the chances are that people will still have connections at home. Often in this situation, international workers and commuters have one foot in two different countries, with split costs.
Working with an FX specialist when you’re abroad
A specialist currency exchange provider can provide services to address foreign exchange requirements including tracking exchange rates, automated international payments and online account management. That’s why City AM has teamed up with currency specialist, moneycorp to offer anyone embarking on a new role abroad a range of tools to help to mitigate the risk of currency fluctuations. Fluctuating currency markets could have a big impact on your income overseas; moneycorp provides tailored services to help people manage their money across borders. Depending on your requirements, moneycorp has a range of tools at your disposal, from making transfers online to opportunities to track, target or fix an exchange rate to suit your needs.
- Great rates on more than 120+ currencies over the phone and 33 currencies online
- Free currency risk assessment for your business
- Online platform to manage and track your payments
- Wholesale currency and bulk currency delivery
- Fix, track and target rates for major and scheduled payments
- Currency exchange specialists offering expert guidance and support
We have been delivering great value currency services for over 40 years and achieved Feefo 2020 Platinum award for consistently outstanding customer service. It is why we are partnering with City AM – visit www.cityam.com/talk/moneycorp-talk to find out more on how we serve the payment needs of global businesses, importers and exporters, online sellers and personal clients.
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