When it comes to hiring, the importance of considering compliance cannot be overemphasized, especially in the context of family members of foreign government officials or employees of state-owned enterprises. This is the subject of an interesting exploration recently discussed by Tom Fox, a seasoned Compliance Evangelist, in a podcast episode.
In the podcast, Fox highlights the importance of the ‘skill, will, and fit’ approach during the interview process. This method is designed to sift out applicants who may not align with the organization’s ethical and cultural values. It works on the premise that by asking open-ended questions, recruiters can better gauge an applicant’s skills, their motivation (or ‘will’), and how well they will fit within the company’s culture. Fox’s reasoning is based on the assumption that if a prospective hire does not fit well on an ethical and cultural basis, it could pose a potential risk to the company’s compliance program.
As many corporate entities can attest, the human factor plays a significant role in the efficacy of any compliance program. The most well-planned strategies can falter if they do not take into account the people who are responsible for implementing them. Therefore, the ‘skill, will, and fit’ strategy, as suggested by Fox, should be a part of the hiring process in all organizations, particularly those with international relationships, regardless of their size or industry.
The implications of this method extend beyond just compliance. A properly conducted hiring process can prevent potential legal infractions, lead to better employee satisfaction, and ultimately, positively impact the bottom line.