Cost of Living Allowance
"Cost of living adjustment" or "Cost of living allowance" (COLA) is a systematic adjustment or allowance made to an employee's salary or compensation to counteract changes in the cost of living, ensuring that employees can maintain their purchasing power despite rising prices for goods and services.
Build your HR capabilities.
Close skill gaps and increase you or your team's earning potential — Start today by browsing our wide range of courses tailored for HR professionals around the world.
Explore Galileo LearnRelated Terms
