In order to determine the difference in ‘Cost of Living’ between your employees’ current location and where they are relocating to, we can provide a COLA Report; these are produced in-house for more than 10,000 locations worldwide, in any currency. As each report is based on differentials of data between individual towns or cities, we can provide them for both international and domestic moves.
Ultimately, a COLA Report calculates a differential which will indicate if the Cost of Living of your employee(s), following a relocation, is going to be higher or lower.
- A positive differential indicates that the Cost of Living at host will be higher than it is at home.
- A negative differential indicates the Cost of Living at host will be lower than it is at home.
The resulting calculation can then be applied to the employee’s current salary to determine a Cost of Living Allowance and overall compensation package.
The report is tailored to the individual circumstances of your employee and their family and will take into account the employee’s remuneration and living costs. The data generated compares the cost of items such as transportation, health services, consumables, utilities, housing and other miscellaneous costs between the two locations, based on the affluence of lifestyle of the individual employee.