SHRM_TLB_1.4.19

Contracting Risk Index 2019 - Analysis of findings | Mexico Edition

Press Release from MultiLatin Background Screening

  • MultiLatin releases the second edition of CONTRACTING RISK INDEX | Mexico Edition. Key findings on hiring job candidates in core industries in Mexico are analyzed.
  • The study is validated by a team of actuaries the firm Lockton Mexico .

Mexico City, February 28, 2019

As part of the 6th HR COMPLIANCE LEADERS SUMMIT , MultiLatin Background Screening presented its second CONTRACTING RISK INDEX | Mexico Edition , a risk index on hiring employees. MultiLatin seeks to provide a perspective on risks faced by companies when hiring candidates in Latin America and the Caribbean. Different job positions require different levels of screening as defined by a company´s reputational and security risks.

The CONTRACTING RISK INDEX can be a useful tool for decision-making when recruiting job candidates, partners and third parties. The study also seeks to promote a culture of secure contracting to protect the reputation of clients and strengthen workplace security.

According to MultiLatin's analysis, in 2018 the trend toward outsourcing grew. The BPO industry is becoming increasingly important in the technology, financial services and logistics sectors. This trend requires companies to raise and fine-tune their level of care and due diligence when contracting. Employees of suppliers, known as "invisible employees", should be subject to the same standards of screening as the company's own employees. This is the only way to mitigate significant risks related to handling sensitive personal information, protection of company confidential information or security of employees inside company facilities.

Checking academic records in the financial services sector in Mexico, or a candidate's professional experience in the BPO sector, as well as review of criminal litigation history review in the logistics sector are some of the important red flags that this second edition of the CONTRACTING RISK INDEX highlights. A company's risk exposure in these areas is quite high, although the volume of findings appears low.

A solid Corporate Background Check Program requires thorough knowledge of the main risks faced by the company, based on a risk matrix. In addition, the selection of a background check provider who guarantees adherence to local and international laws related to data protection is key.

This year senior Compliance executives with broad experience in background screening processes in Latin America and the Caribbean spoke at the event, including Imelda Alvarez, CEO of Comply Latam and Hilario Guillermo Gabilondo, Managing Director of Experis Mexico and Central America and Brand Leader at Experis LATAM. Meritxell Vila, COO of MultiLatin presented information on and examples of "Third-Party Risks".  David Robillard, President of MultiLatin offered his perspective on the main findings and trends that companies should consider in their candidate screening processes.

MultiLatin supports companies in their screening processes for job candidates, partners and third parties, advancing secure contracting through corporate background check programs.