MyComplianceOffice Blog

Organisations across the globe invest heavily in resources to strengthen relationships between the business and employees and create the best outcomes. Know Your Employee (KYE) initiatives centred around the recruitment process can result in high-quality talent acquisition. Background checking, identity verification, certifications, and other aspects are a high priority - and it’s no wonder. After all, the cost of replacing an employee is significant. ELMO & HRMI’s 2022 ANZ benchmark report shows an average of AUD $23,860 and 40 days to make new hires.

Small businesses and financial firms have undergone seismic shifts over the last few years. The pandemic forced employers to rethink their positions on remote and hybrid working models, and employees have come to expect greater flexibility. PwC’s survey of over 18,000 workers across Asia-Pacific (APAC) reveals that 66% expect to perform their roles in a hybrid capacity 12 months from now. In contrast, 24% expect fully-remote and only 10% fully in-person.