Pricoa(SM) Relocation European Survey Finds Business Expansion and Multi-Nationalism Spur International Job Assignments

Representatives from 131 European-based companies from 12countries and 30 industries participated in European Mobility Trends:A Best Practices Survey from Pricoa Relocation, which examined short-and-long term international job assignment trends. The majority ofrespondents (57 percent) indicated that the greatest business driverfor international assignments was the need to support market expansioninitiatives; and the primary reason (70 percent) specific individualsare sent on international assignments is to enable the transfer ofknowledge. Tied for second place (23 percent) for key business driversare merger and acquisition activities and start-up efforts in thedestination location.

"Mergers and acquisitions and start-ups are, in actuality, a formof market expansion. Therefore, growing the business in new,high-potential markets is clearly a desired outcome of usinginternational assignments in Europe as a key staffing strategy," saidJohn O'Connell, senior vice president, International Operations,Pricoa Relocation.

"Multi-nationalism is a major business trend. Therefore, globalservice delivery has become a major focus in the relocation industry.As the intricacies of international mobility continue to increase, itbecomes an absolute imperative to work with service providers likePricoa Relocation that are skilled in breaking down the complexitiesof global assignments," said O'Connell.

Another European mobility trend uncovered in the survey was theincreasing preference for short - rather than long-term internationalassignments, for which respondents forecasted a 70 percent increaseover the next two years. "The increasing use of short-term assignmentsis actually a global trend. Short-term assignments are expected tocontinue at an ever-increasing rate as will an overall mix of othertypes of assignments, such as traditional long-term assignments,permanent international relocations as well as alternatives such ascross-border commuter assignments and rotator assignments," notedO'Connell.

The survey also found that the top three destination countries forassignees in Europe were the United Kingdom, Germany and France.Increases in volume are expected for the Czech Republic, Italy,Russia, Spain, Poland, Belgium, and the Netherlands. "The mostsignificant implication of these findings will be in housing anddestination services," said O'Connell. "Volume increases will meangreater demand and competition for housing and will thus drive marketcosts higher."

O'Connell added that the survey found that housing costs are thefastest rising expense associated with international assignments. "Weare seeing certain markets where housing costs and rents are going upon a monthly basis because of limited inventory, especially indeveloping Eastern European markets and major centers such as London,Paris and Moscow," said O'Connell.

In addition, companies participating in the survey identifiedglobal service delivery, global pension solutions and improvedassignment management as the top three concerns on which theinternational human resources consulting and the relocation industriesshould focus.

To download a complete report of the survey findings visitwww.pricoarelocation.com/survey.

PRICOA Financial is a brand name and service mark used byPrudential Financial, Inc. of the U.S. and its affiliates in the UKand select countries outside the United States. With more than $532billion in total assets under management as of December 31, 2005,these companies offer a variety of products and services, includinglife insurance, mutual funds, annuities, pension and retirementrelated services and administration, asset management, securitiesbrokerage, banking and trust services, real estate brokeragefranchises and relocation services. For more information, visitwww.pricoarelocation.com

*(Prudential Financial, Inc. of the United States is notaffiliated with Prudential Plc., which is headquartered in the UnitedKingdom.)