For those of us in global mobility, we understand that the market has typically lagged behind the broader HR industry with respect to trends and technology. Lately, however, things in our industry are changing at a rapid pace. The adoption of concepts like people analytics, employee experience and global workforce planning are keeping pace with and in some cases setting the pace for HR Tech and resulting in the emergence of the global mobility management (GMM) category.
Evolving with the Market
At Polaris, we’ve focused primarily on assignment management, workflow, tax, payroll and compensation management. This has served us well for the last 17 years and we’ve created a tremendous product and we work with many premier clients. However, we’ve recently noticed that the way in which companies manage their global workforce is changing. The industry is shifting away from traditional BPO and service offerings to global workforce management technologies with heavy emphasis on the experience of the relocating employee. Based on these trends, we expect GMM to grow to an $11-$15B industry by 2023 - outpacing even Core HRIS platforms by that time.
We have also taken note of MOVE Guides, which has lead the way in this shifting relocation management landscape since its founding. With their operational infrastructure and the significant investment they’ve raised from leading technology companies and investors within the HR Tech, they are poised to be the leader with GMM for years to come.
Very recently we decided to join forces with MOVE Guides, with MOVE Guides in the position of the acquirer. With the combination, we now offer the first full global mobility management platform. Our combined company has an unparalleled product and engineering team, deep technical HR, mobility, tax and immigration expertise, world class supply chain management, and the global footprint to support customers anywhere in the world. Additionally, we can serve mobility programs regardless if they are inhouse or outsourced.
Today, there will be no impact to the existing Polaris customers’ platforms and services. We will explore additional opportunities for both of our clients as we integrate the platforms, but the existing functionality will be preserved at a minimum. We already see areas where we can provide additional functionality to interested parties in a short time period and those opportunities are exciting to us as we’ve spoken to our customers.
In sum, we are extremely excited to join the MOVE Guides team and look forward to being at the forefront of change in GMM. Thanks to all of our customers who have supported us through the years and for your feedback on employee experience which led us to this decision. You can read the press release about this acquisition here.