The true cost of a failed international assignment
International SOS, with the support of KPMG, has released insights into the true costs of failed international work assignments
Health and security services company International SOS has revealed findings on the financial impact that failed business trips and international assignments can have on organisations. Supported by a Return on Investment report led by Ipsos and developed with KPMG, the figures show that the cost of a failed international assignment can reach up to US$1.25 million. Deficiencies in health, safety, security, and wellbeing of an organisation’s mobile workforce are all possible reasons for failed assignments.
Dr Neil Nerwich, Group Medical Director at International SOS, commented: “The key points with respect to cost containment are proactivity, in both the prevention of medical incidents through appropriate preparation and [the] education of employees before deployment and travel. The interventions we take very early on during a medical event have a significant impact on the ultimate medical outcome of a patient.”
Last year, International SOS disseminated approximately 102 million medical and security alerts and special advisories to mobile workers and those responsible for safeguarding their wellbeing.
The Return on Investment report also examines the cost-effectiveness of travel risk prevention strategies. Data from the report shows that preventive health check programmes can yield a significant return, with every $1 invested potentially resulting in a $2.53 return. Furthermore, 72% of HR specialists reported a positive impact on employee wellbeing and resilience when partnering with third-party specialist organisations. This improvement is attributed to the increased access to mental health support programmes and resources.
In January, International SOS was announced as a Top Employer in the UK for a sixth consecutive year by the Top Employers Institute.