Employees may find that relocating for a job opportunity is both exciting and daunting. It marks the start of a new professional and personal chapter, often involving uprooting one’s life and settling into unfamiliar territory. For companies, offering relocation packages is a valuable tool for attracting top talent from across the globe. However, crafting a competitive relocation package while adhering to budgetary constraints poses a significant challenge for employers. In this article, we explore the delicate balance between meeting the needs of employees and the financial limitations of companies when it comes to relocation packages.
Expats around the world are already starting to experience the worst cost-of-living crisis in a generation, with budgets squeezed by tax rises and everyday purchases going up in price. The biggest change for most expats has been the increase in the energy cap on April 1, but many other price rises will add hundreds of pounds to an expat’s household spending too. The net result of rising inflation could leave thousands of expats worse off this year.