Have your assignees ever asked, “The price of gas went up 20%, so why hasn’t my cost-of-living allowance (COLA) increased to match?” .
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One of the challenges that companies face within the U.S. has been attracting talent to what are often perceived as “dying” cities, especially in the Rust Belt. Many people have a perception of these cities that may no longer match the reality on the ground and this can present a challenge for recruiting.
In AIRINC’s 2020 Mobility Outlook Survey, 60% of companies said they offered some form of lump sum as part of their mobility program. Lump Sums are so popular because they can address a variety of goals in one neat, simple package, for example:
My primary responsibility is to serve as the strategic point of contact for the AIRINC clients in my region. I work with them to look for ways to help them meet their goals and face their mobility program’s challenges. The COVID-19 outbreak has been a prime example of the latter in 2020. I have been working with clients to ensure they are informed about the conditions facing their assignees and the impacts to the data that they receive from AIRINC – mainly hardship and danger pay.
AIRINC is partnering with United Healthcare, GTN, and others to host an exciting Detroit-area Global Benefits Forum. This is a follow on to our well-attended and valued event on China last year.
Lump sums are becoming an increasingly popular alternative to expense reimbursement across domestic and international mobility programs. Although companies frequently substitute cash allowances for reimbursement of individual mobility expenditures (such as loss on auto sale),
Localization is a trending topic in global mobility and applying it correctly will help you grow your business and preserve your talent pool.
