Movement Continues in the Foreign Exchange Market.....
International commuter assignments are one of the fastest growing segments of mobility. Until now, calculating these costs—quickly and accurately—has been a challenge.
Marie joined AIRINC's London office as a Client Engagement Manager in May 2021. With over 13 years’ experience in International Mobility specialising in assignment management, Marie has held various positions working for relocations companies, RMCs and an international law firm
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?” .
In general, getting an employee to accept a domestic relocation can be difficult. It is not easy to uproot a family, logistically manage a move, and establish oneself in a new city. However, it can be even more challenging when the new location is considerably more expensive.
After crude futures turned negative in Q2, there seemed only one direction for prices to go – up! AIRINC’s quarterly comparison of petrol pump prices from Q2 to Q4 shows that prices in most researched countries increased, particularly our top five as ranked by percent increase: Zimbabwe, Suriname, Canada, Ethiopia, and Malaysia. For some, this is a cost-driven change; for others, this is a reflection of currency adjustments.
The COVID-19 pandemic has caused a historic drop in demand for petroleum products. In addition to reduction of fuel use for air and sea transport, on-road passenger travel has been impacted as consumers are driving significantly shorter distances and less often.
The COVID-19 pandemic is presenting us all with a period of great uncertainty. One thing we have learned from past crises is that we will likely experience economic volatility, including wide exchange rate swings and abnormal patterns of inflation. While these are early days, we have already measured higher rates of inflation in China, as well as significant fluctuations in major currencies. In addition, living conditions have worsened for many across the globe. It is likely economic volatility and restricted lifestyles will be with us for some time.
Our colleagues in Europe were busy this autumn with a successful series of events in London, Amsterdam, Copenhagen, Munich, and Berlin. Depending on the location, we presented the results of AIRINC’s Long-Term Assignment Benchmark, going over some of the details and trends from the survey results; we discussed the shifts we are observing towards a more flexible workforce; and we explored an alternative approach to assignment housing and how to manage both costs and expectations.
Last week, we highlighted the top 5 downloads that have helped shape our views on where mobility is in 2019 and where it will go in 2020. Today, we have pulled together the most important and popular global mobility policy posts from 2019. These posts focus on many of the key takeaways from our 2019 Mobility Outlook Survey, including: