COVID-19 & Global Mobility

In this unprecedented time, AIRINC has created this landing page to serve as a hub to help you learn more about how your peers in global mobility are responding to the impact of COVID-19. In addition we will share advice from our team, upcoming events, blog posts related to the crisis, and plans for the COVID-19 recovery.

Please take a few moments to complete the Pulse Survey below. Results from this survey will be posted on this page and updated weekly.

We hope by sharing this information AIRINC can help Global Mobility teams across the globe.

Pulse Surveys

Pulse Survey: Virtual Assignments

Are virtual assignments the future of Global Mobility? Do companies already have a policy in place to address this type of mobility?

Virtual assignments are defined as an arrangement in which the employee lives in one country but performs their job remotely for another country.

Pulse Survey: COVID-19 and International Expat Assignments

This survey focuses on how Global Mobility is supporting expatriates on temporary, international assignments in response to the COVID-19 pandemic.

Key Pulse Survey Findings

COVID-19 and International Expat Assignments

61%

of companies report that most expatriates are still on assignment in the host location

64%

have put all new expat assignment initiations on hold

59%

of companies are still using the corporate travel policy for airfare when evacuating expats

30%

of companies are providing temporary living in the home location for expat-initiated evacuations

87%

of companies are not paying an additional, temporary hardship for expats remaining in the host location

Additional Resources

Addressing Allowances during COVID-19

March 24, 2020 | By Morgan Crosby

(Global Tax Network) COVID‐19 and Global Mobility Tax Issues

March 6, 2020 | By David Livitt

Global COVID-19 Individual Income Tax Responses

May 14, 2020 | By Jeremy Piccoli

Exchange Rate

One thing we have learned from past crises is to expect economic volatility, including wide exchange rate swings and abnormal patterns of inflation. While these are early days, we have already measured significant fluctuations in major currencies. Here is a list of currencies with the largest fluctuations (USD is base currency used).

Weekly and annual rates are from 5/25

Weekly Change
Month Over Month Change
Year to Day Change
Value vs. USDAppreciation vs. Depreciation
CountryCurrency05/18/202005/25/2020USDEURGBPJPYAUD
South AfricaZAR18.3517.644.04%4.15%4.04%4.39%3.69%
MexicoMXN23.7522.535.38%5.49%5.38%5.73%5.03%
Euro CountriesEUR0.920.92-0.11%0.00%-0.11%0.23%-0.44%
SwitzerlandCHF0.970.97-0.100.01%-0.10%0.23%-0.44%
BrazilBRL5.725.455.01%5.13%5.01%5.36%4.66%
United KingdomGBP0.820.820.00%0.11%0.00%0.34%-0.33%
AustraliaAUD1.531.530.33%0.44%0.33%0.67%0.00%
JapanJPY107.33107.69-0.33%-0.23%-0.33%0.00%-0.67%
MalaysiaMYR4.364.36-0.02%0.09%-0.02%0.31%-0.36%
KoreaKRW1225.131240.45-1.24%-1.13%-1.24%-0.90%-1.56%
United StatesUSD1.001.000.00%0.11%0.00%0.34%-0.33%
ChinaCNY7.117.14-0.38%-0.27%-0.38%-0.05%-0.71%
CanadaCAD1.391.40-0.36%-0.25%-0.36%-0.02%-0.69%
ColombiaCOP3851.003776.461.97%2.09%1.97%2.32%1.63%
KazakhstanKZT416.63414.370.55%0.66%0.55%0.88%0.21%
RussiaRUB72.6571.581.50%1.61%1.50%1.84%1.17%

Appreciation/Depreciation of major currencies over a one week period, Monday to Monday.

Value vs. USDAppreciation vs. Depreciation
CountryCurrency04/01/202005/01/2020USDEURGBPJPYAUD
South AfricaZAR18.2218.84-3.29%-3.43%-4.27%-3.48%-8.54%
MexicoMXN24.2024.57-1.49%-1.65%-2.49%-1.70%-6.85%
Euro CountriesEUR0.910.910.15%0.00%-0.86%-0.05%-5.29%
SwitzerlandCHF0.970.960.44%0.28%-0.58%0.23%-5.02%
BrazilBRL5.255.49-4.31%-4.45%-5.28%-4.50%-9.51%
United KingdomGBP0.810.801.03%0.87%0.00%0.82%-4.46%
AustraliaAUD1.651.565.75%5.58%4.67%5.53%0.00%
JapanJPY107.15106.930.21%0.05%-0.81%0.00%-5.24%
MalaysiaMYR4.354.291.33%1.17%0.30%1.12%-4.18%
KoreaKRW1236.201224.890.92%0.77%-0.10%0.72%-4.56%
United StatesUSD1.001.000.00%-0.15%-1.02%-0.21%-5.43%
ChinaCNY7.107.060.55%0.39%-0.47%0.34%-4.92%
CanadaCAD1.421.410.74%0.58%-0.28%0.53%-4.74%
ColombiaCOP4085.003951.503.38%3.22%2.33%3.17%-2.24%
KazakhstanKZT448.63425.635.40%5.24%4.33%5.19%-0.32%
RussiaRUB78.6175.214.53%4.37%3.47%4.31%-1.15%

Appreciation/Depreciation of major currencies over a one month period, 1st of month vs 1st of month.

Value vs. USDAppreciation vs. Depreciation
CountryCurrency01/01/202005/25/2020USDEURGBPJPYAUD
South AfricaZAR14.0117.64-20.58%-18.30%-13.68%-21.31%-14.85%
MexicoMXN18.9322.53-16.02%-13.61%-8.72%-16.80%-9.96%
Euro CountriesEUR0.890.92-2.79%0.00%5.65%-3.69%4.22%
SwitzerlandCHF0.970.97-0.44%2.42%8.20%-1.37%6.74%
BrazilBRL4.025.45-26.20%-24.09%-19.80%-26.89%-20.88%
United KingdomGBP0.750.82-7.99%-5.35%0.00%-8.84%-1.35%
AustraliaAUD1.421.53-6.73%-4.05%1.37%-7.60%0.00%
JapanJPY108.70107.690.94%3.84%9.70%0.00%8.22%
MalaysiaMYR4.094.36-6.24%-3.55%1.90%-7.11%0.53%
KoreaKRW1154.021240.45-6.97%-4.30%1.11%-7.83%-0.26%
United StatesUSD1.001.000.00%2.87%8.68%-0.93%7.21%
ChinaCNY6.967.14-2.48%0.32%5.99%-3.38%4.56%
CanadaCAD1.301.40-7.14%-4.47%0.93%-8.00%-0.44%
ColombiaCOP3285.233776.46-13.01%-10.51%-5.45%-13.82%-6.73%
KazakhstanKZT382.86414.37-7.60%-4.95%0.42%-8.46%-0.94%
RussiaRUB61.9371.58-13.47%-10.99%-5.96%-14.28%-7.23%

Appreciation/Depreciation of major currencies from January 1, 2020 to most recent Monday.

COVID-19 Recovery Checklist

15 Steps you can take to prepare for recovery

#1

Employee Value Proposition

Ensure your “what you offer to take care of me in a crisis” offering is robust and can be communicated clearly.

#2

Health Coverage Check-up

Ensure you have adequate health insurance that covers pandemics, ensure your medical evacuation offering is in place and up-to-date, check business and travel accident insurance coverage, and consider a mental health offering or promoting your offerings more.

#3

Tracking

Consider adding better software or tracking apps to help know where your mobile employees and their families are.

#4

Risk Assessment

Know the conditions in your assignment and home locations and keep those up-to-date, and have good sources of information, including travel restrictions and quarantine requirements.

#5

Crisis Policy

Update your evacuation policies and add how to address situations such as split family, employees “stuck” in locations, etc. Revisit your crisis team response policies and make sure they are robust enough.

#6

Cost Effectiveness

With the economy in a downturn, consider ways to offer cost-effective mobile talent policy options, audit current programs for over-competitiveness, and consider consolidating international and domestic RMC vendors, etc.

#7

Consider Re-allocating Spending on Support

Such as duty-of-care, mobility premium, and perhaps less on other items that may no longer be valued.

#8

Emergency Communications Plan

Make sure you have a robust communications plan for any future crises.

#9

Review Allowances

Make sure your allowance and update schedule can handle large exchange rate and inflation changes, know when and for how long you will pay allowances due to an evacuation or self-initiated leave from assignment location, and consider home leave benefits and how they will be handled when there are travel restrictions.

#10

Expense Processing

Make sure you have a clear structure for who approves unexpected expenses due to a crisis.

#11

Work From Home

Develop policies to address working from home across borders or jurisdictions.

#12

Mobility Organization

Review organizational design and ability to handle crises going forward (decentralized vs. centralized), and make changes as necessary (who tracks conditions, who is part of crisis task force, working with security team, do you have the right skill sets in mobility).

#13

Vendor Network

Update your plan to collaborate with vendors during crises.

#14

Employee Networks

Consider ways for employees to share or to access information, and to feel like they have community support and resources.

#15

Mobility’s Role

Revisit your vision, explain how mobility helped during the crisis, restate your value proposition, and use this to change your function if needed.

Special COVID-19 Business Continuity Notice

AIRINC is taking every precaution to keep our workforce safe in this unsettling time. Our entire staff are fully functional working from home and are doing so at this time in order to remain healthy. At this time, there is no impact to our services to our clients and we do not expect there to be any. We are here for you, as the pandemic impacts global currencies and prices, please reach out if you need any help. Contact Us

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