Are you relocating employees to Moscow, Tokyo or Luanda, Angola? If so, we feel for you…and them. Apparently, these are the top three most expensive cities for expats and, if they are a part of your global mobility program, then they are likely a top three on the headache list for you.
Mercer recently released their 2013 Cost of Living Survey, which analyzes the cost of living across 214 cities across five continents. They survey compares the prices of more than 200 items in these cities, including real estate, goods and services, to the cost of these items in New York City. Why New York? Well, New York City is the most expensive city in the U.S., so it serves as a good barometer for cost of living comparisons around the globe – especially if your expats are moving from the U.S. to an international destination.
Last year, my colleague, Laura Matrisciano wrote about her takeaways on the relocation industry trends outlined in the Worldwide ERC Transfer Volume and Cost Survey. So, when the survey was released this year, I thought it fitting to compare it to what we learned in 2012. Please remember however, that the 2012 survey revealed data from 2011, so this year’s survey reflects findings from 2012.
The Transfer Volume and Cost Survey is comprised of responses from 84 member organizations across more than 24 industries. The data covers trends and changes in employee mobility and company funded programs, as well as the costs associated with them within the United States. The full survey is available to Worldwide ERC members for free or for a 95 dollar charge to non-members.
One of the biggest mistakes a company can make regarding relocation is assuming that an international assignment is complete once the employee returns to the home country. In many ways, it is at this exact moment that HR needs to step in with gusto. A repatriation program is a vital step in the process that should not be taken lightly. In fact, one recent study from the University of Iowa notes that up to 38 percent of repatriated employees quit within a year of returning home. When you consider that companies spend millions of dollars on global assignments, this number is shocking…and depressing.
Today’s post is a guest post by Darin Karp, President of Stress Free Corporate Housing, a global provider of temporary housing.
The 2014 FIFA World Cup will be the 20th FIFA World Cup, an international football tournament that is scheduled to take place in Brazil from 12 June to 13 July 2014 in Rio de Janeiro, São Paulo, Belo Horizonte, Porto Alegre, Brasilia, Cuiaba, Curitiba, Fortaleza, Manaus, Natal, Recife, and Salvador. Brazil is expected to receive about 600,000 international visitors and 3 million local tourists for the World Cup.
According to a 2012 report by Ernst and Young on M&A activity, mergers and acquisitions are expected to increase in 2013. I can believe it as many of my clients today are either in the middle of a merger or have gone through one recently. Certainly, mergers and acquisitions are an important tool in the corporate strategy tool belt as companies aim to capitalize on new innovations, reduce costs or enter new markets. But, mergers and acquisitions are tough. More than 50 percent of mergers and acquisitions fail and more than 80 percent fail to enhance shareholder value.
This article is reprinted from Taxolutions with permission from Rowland, Johnson & Company, P.A.
Many Americans are considering moving abroad to take advantage of professional and personal opportunities in a global economy. But as a U.S. citizen living in a foreign country, your tax situation may become more complex, especially because the U.S. requires all of its citizens and green card holders living abroad to continue to file returns in the U.S., and pay taxes on their worldwide income. Depending on the source and level of your income, however, you may be entitled to a number of tax breaks, chiefly designed to keep you from being taxed doubly by your adopted country, as well as the United States. Whether you actually come out ahead on taxes will depend on which country you work in and its tax rates, along with your individual financial and employment situations.
Who is excited for the 2012 Summer Olympics in London? Living in Europe myself, I must admit that I am looking forward to all the pomp and circumstance that the Olympics will bring. I think this event will be good for the region, both economically and spiritually, and I am optimistic about London’s ability to host the games, despite some of the noted challenges. I do hope that the Britons and their neighbors enjoy this momentous occasion – even if it’s going to make my job a little more difficult this summer.
The relocation industry is comprised of a diverse set of businesses. Between third-party relocation management companies (RMCs), real estate experts, finance gurus, brokers, appraisers and more, service partners come in all different shapes, sizes, styles and personalities. This is great news, because corporations are equally diverse and all the different options make it possible to find perfect pairings. Over the course of my blogging, I want to take a look at different criteria to see what, if anything, matters most.
In our business, we get to meet a lot of people. Relocation and HR folks certainly love their networking events. In fact, earlier this year, I was at the ERC event in Las Vegas and was surprised by the number of participants, activities and established business relationships present. It felt like a reunion and, as a newcomer, I was a bit intimidated to join this party of old friends.