Happy Labor Day from the employees of all of Paragon’s companies!

Here is a brief history of Labor day from Wikipedia:

Labor Day is an American federal holiday observed on the first Monday in September (September 3 in 2012) that celebrates the economic and social contributions of workers.

Labor Day pays tribute to the contributions and achievements of American workers. It also symbolizes the end of summer for many Americans, and is celebrated with parties, parades and athletic events.

We wish everyone a fun and safe holiday!

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Cost of living differences are a major issue when considering an international assignment. For an employee to have an equal standard of living in their new location companies will often provide additional compensation based on a formula of the differences in cost between the old and the new location called a “Cost-of-Living Differential”. Today to get a sense of the differences in cost between locations we are going to start a new series of posts called “Cost of Living Snapshots” to compare the cost of living in different locations around the world at a glance.

With today’s comparison we begin with Paris, France, which has one of the highest costs of living in the world. Paris is a romantic destination that is also a popular hub for business, tourism and art. This all contributes to a high demand for space.

To gather the cost of living data we use, Expatistan.com. Expatistan.com is something we’ve written about in the past. It is a free web-based collaborative tool that lets users enter local prices to compare with other locations around the world.

What does it cost to live in Paris, France?

Paris vs. San Francisco: The overall cost of living in San Francisco, California is 8% less than Paris, France. The cost of a pair of 501 Levi’s is 134% more in Paris than in San Francisco, while cold medicine in Paris is 22% less than what it costs in San Francisco. Check out the full costs comparison breakdown between Paris vs. San Francisco.

Paris vs. Shenzhen: The overall cost of living in Shenzhen, China is 88% less than Paris, France. The cost of a 900 sq. ft. furnished apartment costs 195% more in Paris than in Shenzhen, while a Volkswagen Golf is 47% less than what it costs in Shenzhen. Check out the full costs comparison breakdown between Paris vs. Shenzhen.

Paris vs. Moscow: The overall cost of living in Moscow, Russia is 30% less than Paris, France. The cost of the daily menu in the downtown business district is 95% more in Paris than in Moscow, while a 40″ flat screen TV is 14% less than what it costs in Moscow. Check out the full costs comparison breakdown between Paris vs. Moscow.

Paris vs. Hong Kong: The overall cost of living in Hong Kong is 9% more than Paris, France. The cost of a combo meal at a fast food restaurant is 132% more in Paris than in Hong Kong, while a liter of milk costs 49% less than what it costs in Hong Kong. Check out the full costs comparison breakdown between Paris vs. Hong Kong.

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Global CEOs listed relocation of employees to new markets as one of their key priorities in a recent PwC global survey. In addition, the 1250 CEOs listed Talent Management as their greatest priority. As the baby boomer generation of employees begins to retire from the workplace employers are looking to replace that talent with a combination of new younger talent within their organization and experienced talent outside of their organization. One of the major challenges remains that there will be a great competition for qualified talent which could result in employees who were working on international assignment to return to the headquarters to take on greater levels of leadership within the organization.

What are the most important priorities for global CEOs?

In addition, because of the challenges of talent management 79% of CEO stated that a company HR leader would be one of their direct reports. Also, given the choice 78% of CEOs prefer to grow talent from within their organizations and not source it externally.

What are some other challenges that CEOs should be focused on in the next decade? Let us know in the comments or on our social media sites.

Read more from the PwC Survey.

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Relocating for work can involve a number of unknowns. Will this be the best move for my career? Will this be good for my children? Will I like to live in the new location? Productivity blog, Lifehacker.com, has some tips on how to make a big decision easier.

1. Make a weighted pros and cons list.

When considering relocation for a new position start with a simple pros and cons list. Once that is finished add positive numbers and negative numbers to each pro or con to give you an accurate value of each. Some pros and cons will have a greater impact than other aspects of the relocation. In addition, make a note of certain pros and cons that you give an especially high value to, these might be an indicator of what is truly important to you related to the relocation.




2. Create a grid analysis of multiple criteria.

In addition to a pros and cons list you could create a grid analysis between staying in your current location and relocating to the new location. The grid could analyse various factors such as job opportunity, family related concerns, housing options and cost of living in the new location. The goal would be to pick a clear winner in each variable that is important.




3. Calculate expected value of every outcome.

For this decision method, you could attempt to calculate the value of success or failure if you were to relocate for the new position or if you were to stay in the same position. For example you could estimate a numerical likelihood of success in your new position over your old position on a 0-100 point scale. What are the chances of success on from 0-100% if you relocate for a new position? What are the chances of success if you don’t relocate? If you like, this could even be turned into a bit more complex mathematical decision as described in more detail in the lifehacker.com article.




4. Trust your gut.

For some this may not seem as easy as it sounds. One trick to try is taking out a coin and flipping it. Assign an outcome to each side of the coin and then pay attention to the one that you WANT it to land on while it is in midair. While intuition isn’t full proof, it can be helpful in determining what you really want.

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Paragon Relocation in association with Re:locate magazine proudly supported The Jubilee Hour, the initiative that encourages the donation of time, rather than money in honor of the Queen’s Jubilee year.  Together, we gathered a group of people from the relocation industry to work on community charity Catch22 on the 12th July.

Catch 22 works with young people in over 150 towns and cities throughout the United Kingdom, living in challenging neighborhoods and facing difficult situations. Their projects help people to transform their lives for long-term good, without judgement.

A number of volunteers from across the relocation sector gathered at Hatfield Community Center,  East London and donated a combined 81 hard working hours to transforming the front space of the community center, creating welcoming flowerbeds.

Tony Forsyth, chair of the Community Center, was delighted with the transformation and the initiative behind it.  Said Mr Forsyth, “The community center is used every day of the week, and it is just fantastic! It is so hard to get the volunteers for a project like this, and it is great the way that everybody has worked together today.”

Amanda Ward of Paragon Relocation initiated the concept and recruited the volunteers after hearing about the initiative at the recent Re:Locate Awards ceremony in London. “I am delighted that the day was a success. I am very grateful to the relocation companies who allowed their employees to participate and to the volunteers themselves who joined the event. A lot can be achieved when people join forces to support a charity.”

The Jubilee Hour initiative has thus far pledged 1, 198, 011 hours of community service.  For further information on this worthwhile cause, please click here.

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