Health and Security Abroad: The Smart Business Move
In today’s globalised business landscape, where international assignments and business trips are commonplace, overlooking the health, safety, and security of mobile workers can have severe financial repercussions for organisations. According to recent findings from International SOS, a health and security services company, failed international assignments alone can result in a staggering cost of USD 1.25 million per incident.
These insights, derived from International SOS's Return on Investment report developed in collaboration with Ipsos and KPMG, underscore the critical need for effective strategies and best practices in managing the well-being of a company's mobile workforce.
Katherine Avery, Tax Principal at KPMG, emphasises the significance of striking a balance between managing costs and ensuring employee experience. She stresses the importance of engaging with internal global mobility teams early in the planning stages to optimise the employee experience while effectively managing costs and compliance.
Dr. Neil Nerwich, Group Medical Director at International SOS, highlights the proactive measures essential for cost containment, particularly in preventing medical incidents through preparation and education before deployment and travel. He emphasises the role of early intervention, which not only significantly impacts medical outcomes but also mitigates business disruption for clients.
Moreover, the Return on Investment report delves into the cost-effectiveness of travel risk prevention strategies. It reveals that preventive health check programs can yield substantial returns, with every USD 1.00 invested potentially resulting in a USD 2.53 return. Additionally, partnering with third-party specialist organisations for mental health support programs and resources has been shown to improve employee well-being and resilience, as reported by 72 percent of HR specialists.
In light of these findings, it is evident that prioritising the health, safety, and security of mobile workers is not just a moral imperative but also a business decision. By investing in proactive measures and partnering with specialist organisations, businesses cannot only safeguard their employees' well-being but also protect their bottom line from the costly consequences of failed international assignments.
