In May, AIRINC organized a roundtable discussion for Singapore-based companies. The purpose of this session was to bring together Global Mobility professionals in Singapore to share their current and best practices, understand challenges and share trends that are happening in the mobility sphere.
The participants enjoyed the discussion and shared useful insights on their new and existing mobility policies. During the one-hour session, we covered topics on remote work, short-term assignments, and Inflation.
Below is a summary of our discussion.
Topic 1: Mobility Program Review
Companies confirmed that they are redefining or creating new policies for remote work arrangements, short-term assignments, and business travels to cope with changes as the world recovers from Covid-19.
Topic 2: Market Trend
Majority of companies agreed that there is an uptick of short-term assignments and business travelers with the resumption of international travel. Some companies are taking steps to enhance their global mobility programs and have introduced flexibility to their short-term assignment policies.
Topic 3: Program Cost Management
Companies confirmed that they are experiencing inflation in Singapore for both Housing and Goods and Services. This is in-line with AIRINC’s research findings. Based on AIRINC’s findings from April 2021 to April 2022, inflation for Goods and Services was 4.8%. The average 6 months inflation is 2-3%. For housing, rental costs have increased between 5-15% based on research findings in February 2022. Companies will adjust their international assignee’s cost of living or housing allowances in accordance with inflation changes.
Topic 4: Remote Work
Companies are adjusting their policies on flexible work arrangements to stay competitive and relevant in the marketplace. In some industries, international remote working is trending, and this option is extended to all employees of the company.
We have scheduled the next session for 20 September 2022. If you are interested in being a part of this group, please email Amber Chan at achan@air-inc.com
