Cost Of Living
On numerous occasions you will find that multinational organisations send employees on assignments that are in other countries. In these cases, one of the first questions that tend to come up in the discussion is: “What’s in it for me?”
This is tricky – do you send the individual based on local conditions (benchmark their pay in the host country and send them on their way)? Or do you get Cost of Living data to ensure that you understand the Cost of Living differences between the home and the host country, thus ensuring their current standard of living is not jeopardised in any way? Both options would suffice, however, the organisation and the expat need to be equally satisfied with the decisions taken.
In order to derive robust compensation data for Expats across various countries across the globe, detailed benchmark data is required to ensure equitable remuneration for this category of staff. Two countries are required in this analysis – the home country (the home base for the expat) and then host country (the destination for the expat). We develop a customised model that can be utilised for multiple assignments, and construct the model in such a way that additional countries could be added to at any point in time as your organisation expands its footprint to additional locations.
We are able to provide Cost of Living data for over 180 city combinations around the world. Please contact us at firstname.lastname@example.org to get more info on our Cost of Living (COL) data.