As a long-time Compensation consultant and senior instructor at WorldatWork, I have always taught that cost of labor was the right metric to use when setting pay as well as assessing geographic differences. Cost of labor is the assessment of the supply and demand of labor in a labor market via relevant compensation surveys. With the current environment of distributed workforce, I am changing my view on adjusting pay for geographic differences.
Prior to the current pandemic, a 2018 study by GlobalWorkplaceAnalytics.com highlighted that just 3.6% of the United States labor force worked remotely 50% or more of the time.
The function responsible for moving employees across borders and ensuring that they arrive at their work location safely and legally is mostly called the Global Mobility function. In 2020, is this still the right term? Over the past decade, the function has grown, becoming more strategic and taking on many new or expanded responsibilities, including:
Understanding Cost of Labor versus Cost of Living assessment: Whether internationally or domestic, there is still the need to get your talent to the right location in the right way, and at the right pay levels. International mobility has additional complications, but domestic mobility continues to trend as a challenge for many organizations and their employees.
As we’ve grown and adapted to the evolving Mobility landscape, clients have said we did not realize you do that, this solution was even better than expected, and why did we wait so long to transition to AIRINC? We are at our best when organizations know what it’s like to work with the people behind the data.
Welcome to AIRShare: Your Link to Strategic Global Mobility