The greenback has since reversed that stronghold in recent weeks following monetary intervention from central banks aimed at shoring up the global economy.Mercer's 26th annual Cost of Living Survey, which measures accommodation costs and the price of goods and services locally, is designed to help companies and governments determine pay packages for expatriate employees.
Cost savings will also remain high on the agenda as companies decide when and where to send employees.While the pandemic has weighed heavily on many companies' hiring and deployment strategies so far this year, the consulting firm's global mobility practice leader for the U.K. and Ireland, Kate Fitzpatrick, said she is confident that international assignments will resume as countries reopen.
"Looking ahead to when travel can resume, there is a broad expectation that those expatriates out of position will return to their host locations to see out their original assignment periods, and new assignments will commence as originally planned," she said. However, with the economic fallout expected to play out over the next several months, Fitzpatrick said that employers and employees will ensure the packages offered reflect their new circumstances.
"Companies therefore need to closely monitor how fluctuations in currencies have impacted expat costs of living, and if necessary, adjust their compensation packages. Cost savings will also remain high on the agenda as companies decide when and where to send employees," she added.
MakeIt Errr you mean China
MakeIt not any more
MakeIt So why work there?
MakeIt saxena_puru You’re going to have to keep making 100+% returns to keep up with Cost of Living! 😂
MakeIt Soon to be one of the most oppressive
MakeIt Not for long