The global economy offers
unique opportunities for companies doing business internationally. With
opportunities come challenges and managing a global workforce requires reliable
information on the cost of doing business and not every source of business information
is created equal. Xpatulator has created a Cost of Living Index (COLI)
calculator that is tailored to the needs of global companies and managers
responsible for overseas workers.
Verified Information
Xpatulator uses up-to-date
data collected and verified by our own expert analysts to provide the most
accurate cost of living information available. Our proprietary database is
updated quarterly with the latest price information for over 700 locations
around the World. We collect prices on approximately 200 common goods and
services.
Weighted to Reflect Actual
Expat Worker Lifestyle
Some living expenses will
impact your employees to a greater degree than others, so our cost of living
data is grouped into 13 related baskets of goods and services, such as
household, transportation and education. Each basket is weighted based on
extensive surveys of expat worker’s spending habits to reflect the actual cost
of living differences that your overseas workers will experience.
Based on Your Home Office
The COLI calculator uses
your home office or whichever location you choose as your benchmark and sets
the cost of living for that location as 100. You can then easily compare the
cost of living at all your overseas offices with your home office.
Adjusted For Your Company’s
Individual Benefits Package
If you are providing direct
benefits like housing, private education or transportation at some or all of
your overseas locations you can easily remove those baskets of benefits to see
the impact they have on a specific cost of living index. You can calculate a
reliable COLI on a location by location basis or even on an employee by
employee basis.
When a certain basket is
removed from the COLI calculation, that item’s weighting is removed and the
COLI is calculated for the expenses that your employees will be paying directly
from salary. This gives you the advantage of being able to assess the relative
impact of paying for certain benefits directly.
Recruiting and Retention
Advantages
Choosing to offer benefits
where they have the greatest impact in reducing your employee’s cost of living
can give you an advantage in attracting and retaining top talent. Having a tool
like the Xpatulator COLI calculator also lets you highlight the value of
benefits to your employees compared to direct salary adjustments or cost of
living allowances.
Controlling Your Costs
In some cases there may be
benefits to your bottom line by paying certain costs directly. Medical, housing
and transportation are common benefits that some companies elect to pay
themselves rather than have employees paying for with after tax dollars.
You can also equalize
compensation for different employees that may not need or want some of the
benefits that you have available. Quality private education is a benefit that
families with school age children will place a high value on while individuals
and couples will not. By talking with your employees about how specific
benefits will affect their cost of living you can provide the most valuable
compensation package while keeping an eye on your bottom line.
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