FIDI C O N F E RE N C E Katia Vlachos talks at the FIDI Conference 2019 not necessarily happy to move to countries where their marriage is not recognised because this can create administration problems around work permits and insurance coverage. Some locations simply arent safe for them, either. More families have children with special learning or health needs, who might be less keen to move to countries where they may not get the support they need. Many families also have ageing parents who need taking care of. A range of flexible assignments have been introduced to accommodate these changes, enabled by technology improvements and more reliable international travel. MILLENNIAL MOVES THE NEXT GENERATION Xxxxx xxxxx During the third business session at the FIDI Conference, author, researcher and analyst Katia Vlachos led delegates through the changing demographics of the moving industry. James Richards reports O utgoing President Freddy Paxton opened the third business session at the FIDI Conference in Amsterdam by reminding the audience that, fundamentally, the moving industry is about people, and those undergoing a major change in personal circumstances. He introduced Katia Vlachos, a researcher, policy analyst and author who, with her experience of living ineight cities, seven countries and three continents wasthe perfect person to illustrate the changing needs ofcustomers. Millennials want to move a lot of them have been raised internationally and expect to have at least one international assignment in their career W W W. F I D I. O R G FF291JunJul19 pp56-57 Katia Vlachos.indd 57 NEW KINDS OF ASSIGNMENTS Vlachos began by observing that, traditionally, expats moved abroad for between one and four years, or evenpermanently. Today, however, there are greater numbers of shortterm assignments, which are more flexible for the individual. Statistics show that people are less willing to move for work. Also, theres a significant shift away from the traditional expat family, in which the main earner changed jobs and was followed by the non-working partner and children. Today, there are many more dual-career couples, and relocation has to accommodate the careers of both partners. Alternatively, one person goes and the other stays behind. There are also more same-sex couples who are According to Vlachos, the other major trend is the growth of a key demographic group: millennials, or Generation Y. Usually in their mid-20s to mid-30s, they represent 40 per cent of the global workforce. In 2025, they will represent three-quarters of the global workforce; in other words, a majority of movers customers. Millennials want to move, Vlachos said. A lot of them have been raised internationally and expect to have at least one international assignment in their career. They see travel as an opportunity to grow professionally and personally. Prefering to have short-term, more flexible assignments, they are more mobile and cheaper to move; compared with traditional expats, and dont have many belongings, so its easier to move them around. They also love technology, and want to use it everywhere in their lives, including during moving. Finally, they want to make autonomous decisions, and customise their experiences. Vlachos identified a market opportunity for companies that can fulfil these needs, and make it easier for this group to do things how they want to do it that is, online. She advised Affiliates to come up with a comprehensive package that millennials can pick and choose from, and to ramp up their online presence, ensuring their website stands out and helps them understand what theyre getting with reviews, credentials, and testimonials. l Vlachos is author of A Great Move: Surviving and thriving in your expat assignment, available at www. katiavlachos.com and from www.amazon.com NEW CUSTOMERS, NEW NEEDS The five areas in which new millennial expats may need support: 1. Immigration and taxation advice: how to keep track of tax and immigration obligations, particularly when crossing between different jurisdictions. 2. Financial planning: specifically in terms of social security, pensions or insurance coverage. 3. Storage: how and where to store belongings. 4. Practical and logistical advice: travel planning, short-term accommodation, hotels, healthcare. 5. Work/life balance: Maintaining a balance between your personal and professional life can be extremely challenging when youre moving overseas. Millennials may need help with this, even though they might not be aware of it. 57 10/05/2019 17:13