While expats enjoy higher wellbeing than local employees, their stress levels are on the rise due to concerns about their finances, according to research from Cigna.
It also revealed that since the Covid-19 pandemic hit, expat employees were more likely to want to return home than local workers were to go on international assignments.
The survey found 89% of expats were suffering from stress compared to 81% of locals – with family finances (30%), lack of job opportunities (24%) and education (16%) topping the list of concerns.
More than half (57%) of expats were keen for holistic support from their employer to help manage stress and work-life balance, with 56% seeking more mental health support – yet only 30% received it.
Of working expat who have been living abroad for one to two years, just 47% were confident that they could maintain their current standard of living and only 44% had enough financial security to support their families in case of emergencies.
Around a third (30%) of all expats thinking about relocating back home cite future finances as one of their top concerns.
Despite this, 45% of expats reported high resilience compared to 37% of local employees living in their home countries.
Covid impact on relocation
The 360 Well-Being survey spoke to more than 18,000 people from around the world and found that 37% of the expat workforce were more likely to relocate to their home country since Covid-19 hit, while only 23% of people currently based in their home country wanted to relocate.
Better job opportunities and career paths was cited as the top reason (35%) for local employees to move, with other key motivators including the desire to broaden cultural experiences (35%) and the opportunity to learn new skills (27%).
Arjan Toor, CEO of Cigna Europe, (pictured) said: “The global expat workforce has been integral in helping businesses around the world unlock new opportunities.
“As these individuals continue to face challenges such as travel restrictions and financial worries, it is critical that organisations provide the necessary support for expat employees as they adjust to their new work and home life.
“Whether it is helping inexperienced expat professionals settle into a new country or providing longer tenure expats with ongoing support to manage stress, supporting their whole health should be a key priority as we usher in different ways of living and working.”