Lloyds TSB International

Lloyds TSB International

May 29, 2013 04:00 ET

Expats Revealed to Be Upbeat About Their New Life-But Less Impressed with the Support Received from Employer

- New study shows majority of expats (61 per cent) happier on international assignment

- However, a number (22 per cent) say there was a lack of employer support for them and their partners

- Among the missed advice, financial and tax help cited as potentially the most useful

LONDON, UNITED KINGDOM--(Marketwired - May 29, 2013) - According to a new Lloyds TSB International Global Mobility Banking study, the majority of staff on international assignments say they are happier than they were in the UK. However, many could have done with more support from their employers.

It was revealed 61 per cent of those polled felt happier than they had in Britain, but around 22 per cent said they had no support in making the move. 46 per cent said they would have benefitted from more help - which suggests companies could do more to assist with relocating staff members.

It was revealed that 50 per cent of respondents had received a moving allowance. This meant that flights back to the UK were paid for in 42 per cent of cases, while 41 per cent had help with housing costs. Partners of employees were found wanting when it came to support though, with just 13 per cent receiving help on flight costs and only three per cent given access to foreign language courses. In fact, as many as 56 per cent said they received no assistance at all.

"Many companies are currently under pressure to reduce costs and we're well aware how expensive overseas assignments can be for employers," Nicholas Boys Smith, Director of Lloyds TSB International said. "But we're also aware that most employees really value any help their companies can give to guide them through the logistics of moving overseas."

Financial advice was highlighted as something 51 per cent wanted - but only 21 per cent received. Tax advice was among the most cited things respondents said would have been useful at 53 per cent.

Support received by international assignees and their partners:

Support Percentage of international assignees who received this support Percentage of international assignees' partners who received this support
Moving allowance 50 30
Flights home 42 13
Help with housing costs 41 25
Transition services related to financial advice 21 7
Transition services related healthcare services 17 5
Transition services related to language services 16 3
Social and networking events 12 10
Transition services related to education or schooling 11 1
None 22 56

To help global mobility managers who are responsible for sending employees on an overseas assignment, Lloyds TSB International Global Mobility Banking offers a comprehensive range of financial products and services which are designed to make living, working and travelling worldwide easier.

The Bank provides international intermediary services including a range of financial solutions for international HR professionals and their employees.

Notes to editors:

All figures, unless otherwise stated, are from a survey of 443 British expats who moved abroad as part of their own, or their partner's, overseas work assignment. Respondents are based in the 10 most popular British expat destinations. Conducted by Freshminds, the survey uses a sample of expats from each country that is representative of the global spread of British expats. The survey was conducted online in April 2012. The countries involved are: Australia, Spain, USA, Canada, France, New Zealand, South Africa, Germany, UAE and Hong Kong.

Contact Information

  • For further information on Lloyds TSB International
    Global Mobility Banking, please contact:
    Grayling
    Colleen Brayshaw
    +44 (0)20 7932 1872 or Mob: +44 (0)7946 794 223
    colleen.brayshaw@grayling.com

    Grayling
    George Morrison
    +44 (0) 20 7592 7928 or Mob: +44 (0) 7595 963 758
    george.morrison@grayling.com