Page 51 - INTERNATIONAL SOS PR REPORT MAY 2024

5/7/24, 9:02 AM The True Cost of a Failed International Assignment: USD1.25 million – Highlighted in International SOS’ New Report
The True Cost of a Failed International Assignment: USD1.25 million –
Highlighted in International SOS’ New Report

Article
May 2, 2024 2:00 AM EDT Tweet Share E-mail
International SOS, with the support of KPMG, releases important insights into the true costs of
failed international work assignments.
LONDON--(BUSINESS WIRE)-- International SOS, the world's leading health and security
services company, releases 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 USD 1.25 million. Deficiencies in health, safety,
security, and wellbeing prevention of an organisation’s mobile workforce can be reasons for
failed assignments.
FREE Breaking News Alerts from StreetInsider.com!
Commenting on the figure, and the importance of preventative strategies, Katherine Avery,
Tax Principal at KPMG, states, “With the impact to the business of a failed international E-mail Address
assignment potentially being detrimental, striking a balance between managing cost and
employee experience is vital for the success of any assignment. Engaging with the internal Subscribe
global mobility team early in the planning stages can be highly beneficial, as their expertise
with the mobility policy and understanding of the organisation, can help to ensure an optimal
employee experience while also effectively managing cost and compliance.”
StreetInsider.com Top Tickers, 5/7/2024
Last year, International SOS proactively disseminated approximately 102 million medical and
security alerts and special advisories to mobile workers and those responsible for 1. PRFT 6. MCHP
7. DKNG
2. SPY
safeguarding their wellbeing. The Return on Investment report highlights the importance of 3. PLTR 8. KMB:IN
this work, especially in light of KPMG’s estimate of the cost of a failed assignment.
4. DIS 9. TTOO
Dr Neil Nerwich, Group Medical Director at International SOS, comments: “The key points 5. MTZ 10. RKLB
with respect to cost containment are proactivity, in both, the prevention of medical incidents
through appropriate preparation and education of employees before deployment and travel.
The interventions we take very early on in the course of a medical event have a significant Top News Most Read Special Reports
impact on the ultimate medical outcome of a patient. At International SOS, early intervention
is at the core of our approach, which starts before an individual travels or is assigned Wall Street closes higher for third session
overseas. When we are highly proactive, we are not only significantly benefiting medical on rate cut optimism
outcomes, but also mitigating our clients’ business disruption. By addressing illnesses or Palantir lifts annual forecast after Q1
injuries promptly with International SOS medical professionals involved from the first contact, revenue tops estimates
we can identify and mitigate potential issues that might escalate into catastrophic events.”
Baird says this name is one of the top chip
The Return on Investment report also examines the cost-effectiveness of travel risk stocks you should own
prevention strategies. Data from the report shows that preventive health check programmes Apple shares dip premarket after Buffett's
can yield a significant return, with every USD 1.00 invested potentially resulting in a USD 2.53 Berkshire Hathaway cuts stake
return. Furthermore, it is reported 72% of HR specialists reported a positive impact on Microchip (MCHP) shares down as fiscal
employee wellbeing and resilience when partnering with third-party specialist organisations. Q1 2025 guidance falls short
This improvement is attributed to the increased access to mental health support programmes
and resources.
NOTES TO EDITORS
The Return on Investment report was developed in conjunction with KPMG between June and
September 2023 by Ipsos, the market leading research firm, on behalf of International SOS.
The research involved surveying senior decision makers responsible for risk management,
health, safety and/or security of people from 255 International SOS clients across the world.
To determine the potential financial risk of a failed international assignment, KPMG analysed
representative long-term assignment data to estimate the cost to an organisation in four key
areas: Compensation, Relocation Costs, Ongoing Assignment Support, and Taxes. Using this
data, KPMG calculated an average yearly cost for these respective categories and
extrapolated these figures over the average length of a long-term assignment.
About the International SOS Group of Companies
The International SOS Group of Companies is in the business of saving lives and protecting
your global workforce from health and security threats. Wherever you are, we deliver
customised health, security risk management and wellbeing solutions to fuel your growth and
productivity. In the event of extreme weather, an epidemic or a security incident, we provide
an immediate response providing peace of mind. Our innovative technology and medical and
security expertise focus on prevention, offering real-time, actionable insights and on-the-
https://www.streetinsider.com/Business+Wire/The+True+Cost+of+a+Failed+International+Assignment%3A+USD1.25+million+–+Highlighted+in+Intern… 1/2