Housing Benchmark and Regular Update - Keys to stay competitive

    Sep 10, 2021 @ 10:44 AM / by Amber Chan

    Hillside teahouses in Jiufen, New Taipei, Taiwan

    The COVID-19 pandemic inspired a trend of assignees working remotely and moving from downtown living spaces to more suburban areas. The demand on rentals in primary cities has reduced significantly. A regular update and review on housing allowances is encouraged to capture this market movement from a cost perspective.

    AIRINC recently conducted a housing benchmark related to the financial services industry. We are seeing that most financial institutions do update the housing allowance at least on an annual basis. As most financial services share similar job levels and structures, the allowances are similarly aligned. Generally, allowances vary by family size to cover 5-6 different job levels from junior to executive levels. Some institutions also conduct benchmarking projects every few years to stay competitive among their peers.

    If you plan to provide housing allowances as part of the mobility program but do not know where to start, or you want to know how your allowances look compared to your peers, AIRINC will be the best point of contact.

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    Topics: Housing, Expatriate Housing, Mobility Policy, AIRINC News, Remote worker, Mobility trends, International Housing Guide, Housing Assessment Tool, Policy Flexibility, COVID-19 Recovery, The View From The Top, trends in global mobility

    Amber Chan

    Written by Amber Chan

    Born in Malaysia and educated in Hong Kong, Amber holds a Bachelor of Accounting and Finance from the University of Hong Kong. She is fluent in English, Mandarin, Cantonese, and Bahasa Malaysia. Amber joined AIRINC in 2017 and began as a cost-of-living surveyor. With the familiarity of data collection process, she then moved to the Analysis and Delivery team to facilitate client data projects and production. In her current role as a Client Engagement Manager, she has been serving clients across APAC, and is the client engagement lead for clients in Malaysia, Japan and Korea. Prior to joining AIRINC, she worked at PwC’s China Corporate Tax, providing tax compliance and consulting service to corporates in China and Hong Kong.