How To Calculate New Hire Average Location Factor in Dynamics365 | Arithmix

Calculating the new hire average location factor is an important task for any organization looking to expand their workforce. This factor helps determine the cost of living adjustment for new hires in different locations. By calculating this factor accurately, organizations can ensure that they are offering competitive salaries to new hires, regardless of their location.

What Is New Hire Average Location Factor?

The new hire average location factor is a calculation that takes into account the cost of living in different locations. This factor is used to adjust salaries for new hires based on the location they will be working in. The calculation takes into account various factors such as housing costs, transportation costs, and other expenses that vary from location to location.

For example, if an organization is hiring a new employee in a city where the cost of living is higher than the national average, the new hire average location factor will be higher. This means that the employee's salary will be adjusted to reflect the higher cost of living in that location.

When Is It Valuable To Calculate New Hire Average Location Factor?

Calculating the new hire average location factor is valuable for organizations that have employees working in different locations. This is particularly important for organizations that are expanding their workforce and hiring new employees in different locations.

By calculating the new hire average location factor, organizations can ensure that they are offering competitive salaries to new hires, regardless of their location. This can help attract top talent and ensure that employees are satisfied with their compensation.

Additionally, calculating the new hire average location factor can help organizations budget for the cost of living adjustments for new hires. By knowing the cost of living in different locations, organizations can budget accordingly and ensure that they are offering competitive salaries while also managing their expenses.

In conclusion, calculating the new hire average location factor is an important task for any organization looking to expand their workforce. By taking into account the cost of living in different locations, organizations can ensure that they are offering competitive salaries to new hires, regardless of their location. This can help attract top talent and ensure that employees are satisfied with their compensation.

How Do You Calculate New Hire Average Location Factor in Dynamics365

Dynamics365 itself isn’t naturally geared towards letting you calculate complex metrics like New Hire Average Location Factor. As an alternative, teams typically use products like Arithmix to import data from Dynamics365 and build out dashboards.

What is Arithmix?

Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like Dynamics365, combine it with data from other systems, and create calculations like New Hire Average Location Factor.

In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.

Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.

Calculating New Hire Average Location Factor in Arithmix

Calculating metrics like New Hire Average Location Factor is simple in Arithmix. Once you've created your free account, you’ll be able to import your Dynamics365 data, and use it to create natural language formulas for metrics like New Hire Average Location Factor.

Arithmix is designed to give you the power to build any calculations you want on top of your Dynamics365 data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.