Expats working overseas 'move up career ladder quickly'

Expats who have temporarily relocated abroad for employment reasons are benefiting from speedy career advancement, new research has indicated.

Staff in such a position may be making use of online money transfer services in order to send funds back to their UK base and a study from Nationwide found 84 per cent of those questioned are fast-tracked up the job ladder as a result of working overseas.

Exposure to different cultures, diverse experiences and a better work-life balance were also identified as advantages on the NatWest International Personal Banking Quality of Life Index.

Approximately 750,000 British workers head overseas to work on an annual basis and the figures showed the ratio of temporary to permanent overseas employees - which currently stands at five to one - will reach ten to one by 2020.

NatWest noted countries such as Britain are taking part in a 'brain exchange' and sharing their best talent among each other, something Dave Isley of the bank described as a "fantastic concept".

"Due to advances in travel and telecommunications, it is now much easier for international operations to run via daily phone calls, email, and video conferencing," he observed.

"It has opened the door to sending young, talented, professionals abroad, while being supervised and coached by their managers in the UK," Mr Isley added.

Over half of the 'GenXYpats' - members of Generations X and Y who work overseas - said doing so is a positive experience, with 52 per cent stating their quality of working life is either very good or excellent.

Last month, NatWest revealed 70 per cent of entrepreneurs operating oversees feel their success is due to being based abroad, with 78 per cent stating growth has been faster than it would have been if they had remained in the UK.

Singapore, Hong Kong and the US were identified as the top three countries to relocate to for enterprises purposes.

Posted by Thomas Smith

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