November 2017
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So You Thought The Hiring Process Was Hard…

Why Integrating Your New Foreign Hire Matters

Human resources risk is often overlooked – and if there’s one thing that a risk should never be, it is ignored. In good times, strong profits and strong growth can mask unnecessary, overlooked losses. In bad times, they can mean the difference between profit and loss.

The hiring process is usually a challenge for both parties and it is often expensive. It is even more expensive when it involves international hiring. Finding the right candidate and negotiating a contract usually occupy the main focus, but a commonly overlooked risk occurs after the contract has been signed.

The signing naturally attracts a lot of attention, marking the conclusion of an often-lengthy process. The signing, however, is only the conclusion of a portion of the process.

The point of making the hire is to use that person in a particular role, and their integration into their new job is key. Many firms hire consultants to find housing, schools, and even jobs for family members, but often they forget to manage the new employee’s integration into their new workplace.

This process can be complicated. Some firms manage it well, taking time, amongst other tasks, to prepare the new hire’s colleagues for what they should expect and how they can assist. This can happen at many different levels and fit within many different budgets, but what matters is that the task is done – and that it is done effectively.

Exactly how much money is at risk can often be precisely calculated. Most firms know what it costs to hire a new employee. This potential loss needs to be added to the loss associated to the risk that they might not stay. Statistically, one in three overseas hires returns home within the first year.

The cost of the wasted year’s wages can be added to the cost to the firm of the absence of an effective person in the position the hire was to have filled. Extra costs can be added according taste and circumstances. All told, the sum is seldom small – and the loss is often very preventable.

Many firms and organizations devote endless effort to managing their priority risks, while failing to effectively analyze and see the importance of managing their other risks. Hiring often attracts a lot attention, only for the focus to vanish once the dotted line has been signed. It can be a very expensive mistake.

 

 

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