Whether internationally or domestic, there is still the need to get your talent to the right location in the right way, and at the right pay levels. International mobility has additional complications, but domestic mobility continues to trend as a challenge for many organizations and their employees.
What is the difference between Cost of Labor and Cost of Living?
These can be confusing as they mean different things. Cost of labor is the fair market pay rate for a specific job in a specific labor market (sometimes defined by a geographic location).
Cost of living, on the other hand, is the cost for a person to live in a specific location. Cost of living can otherwise be known as a basket of goods, including housing, auto, education, and more.