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social science subjects > business and management > human resource management > pay and rewards > cost of living allowance
social science subjects > business and management > sociology of work > pay and rewards > cost of living allowance
social science subjects > sociology > sociology of work > pay and rewards > cost of living allowance

Preferred term

cost of living allowance  

Definition

  • A cost of living allowance (COLA) is an adjustment in wages to make up for a change in purchasing power, in order to keep an employee at a certain standard of living or lifestyle. A change in purchasing power is determined with a measure of inflation, or rising prices, facing consumers over time or in different geographic areas, such as the U.S. Consumer Price Index (CPI). [Source: Encyclopedia of Business in Today's World; Cost of Living Allowance]

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https://concepts.sagepub.com/social-science/concept/cost_of_living_allowance

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