International recruiting and investment is a common practice in today’s global marketplace. Changing labor and economic environments have pushed companies to look for opportunities beyond their traditional boundaries and comfort zones. Companies can often find cheaper suppliers, attractive investments and low cost employment candidates in other countries. Verifying these overseas opportunities is increasingly the task of private investigation companies with expertise in international background checks and global due diligence investigations.
The reasons for hiring internationally can include the difficulty in finding local talent, or finding local talent at a competitive cost. In some cases, the ideal candidate may be in a different country, or even on the other side of the globe. If it’s critical to have the right man or woman for the job, at the right price, then a company’s search usually widens. However, with international recruiting comes significant risk. Investigators are helping many managers to avoid pitfalls.
For companies who are considering hiring or searching for a candidate in a foreign country, managers often face questions on how to find the talent they need. Using recruiters can help simplify the process, but the risk management and human resource work can be overwhelming. For example, does the candidate have the proper visa and valid passport?
The recruiter found the perfect resume, but if the person is based in Hong Kong, Tokyo, Russia, Malaysia, India or Brazil, how can you be sure the resume or CV is true and accurate? What about due diligence investigations – obtaining independent references, and checking criminal and court records and verifying documents?
It’s well known that investing in foreign companies and searching for talent in other countries can be a profitable experience, adding great value to your business. International private investigators and firms specializing in international due diligence, such as Wymoo International and Kroll, work with small companies and corporations to avoid fraud when investing internationally. When the risk is properly mitigated, many companies successfully hire talent at a lower rate than they can locally.
Companies can also find cheap suppliers, attractive partnerships or profitable investments that may not be available in their own country or market. With the reported number of fraud and scam cases continuing to rise, screening and verifying such opportunities is an important task.
Private investigators or professional investigation companies based in the country or countries where you plan to invest or hire are essential to minimizing your risk. These experts can verify references, check CV and resume, access criminal and court records, verify documents and passports, verify address, conduct asset searches, check reputation and more.
They speak the language, have local contacts and have access to local records. If you’re based in New York or Chicago and plan on hiring someone from Moscow or Tokyo, you’ll need a reputable with investigator with offices or field investigators on the ground where you need them to do due diligence investigations.
About the Author: Maria Taylor is an Investigation Analyst for Wymoo® International, a professional private investigation firm based in Florida, specializing in international background checks, private investigation and due diligence investgations. Visit the company website ay www.wymoo.com.
If you have any questions about due diligence investigations, please contact Wymoo, or leave a comment below.
Related: Business Background Checks