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HireRight Launches Mexico Subsidiary, Bolstering Offerings In Latin America
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
HireRight (NYSE: HRT) has officially established a legally incorporated subsidiary in Mexico, enhancing its regional support for clients in Latin America. This strategic move allows the company to offer more localized services and better cater to its expanding customer base, which includes Fortune 500 companies in various sectors. HireRight has seen growth in Latin America as employers increasingly adopt global background screening processes, further driving demand for their services in light of evolving employment legislation.
Positive
Legally incorporated subsidiary in Mexico allows for targeted regional support.
Existing presence in Mexico since 2018 enhances credibility and service delivery.
Ability to invoice and accept payments in Mexican pesos caters to local clients.
Investment in local teams and services, including Spanish-speaking customer service.
Negative
None.
MEXICO CITY--(BUSINESS WIRE)--
HireRight (NYSE: HRT), a leading provider of global background screening services and workforce solutions, now has a legally incorporated subsidiary in Mexico, allowing more targeted regional support for their growing customer base in Latin America.
Although HireRight has been supporting customers from its Mexico City location since 2018, having a legally incorporated subsidiary in the country allows more region-specific services under the leadership of local Mexico-based team members. Customers contracting with HireRight Mexico can receive invoices and make payments in Mexican pesos. This change reflects HireRight’s status as a global yet local supplier for customers in the region, many of whom are Fortune 500 companies in the financial, healthcare, manufacturing, and telecommunication industries.
HireRight has experienced significant growth in Latin America as multi-national employers adopt and expand global employment screening programs. Evolving legislation in Argentina, Brazil, and Mexico reflect a growing regional interest in information verifications. This suggests that regional employers should establish procedures for employment screening to help mitigate risk within the candidate selection process.
“We are excited to continue our global expansion with HireRight’s official legal incorporation of a subsidiary in Mexico,” said Guy Abramo, President and CEO at HireRight. “This underscores our continued commitment to the region of Latin America and highlights our recognition of the vast potential and talent in this market. We look forward to further strengthening HireRight’s connection with our regional customers and continuing to meet the demands of an evolving industry.”
In addition to its existing account management and sales presence in Mexico, HireRight has continued to invest in its service delivery capabilities, including a new local verifications/research team and repositioning other regional business functions, including finance, recruiting and IT into Mexico. Additionally, HireRight offers Spanish-speaking customer service representatives.
“HireRight’s continued investments, including our new HireRight Mexico office, demonstrate our commitment to delivering the local support both within this country and within the broader region of Latin America,” said Ryan Christensen, General Manager of Latin America at HireRight. “We have several exciting initiatives currently in play that will help to further scale locally and continue to improve how we service customers in the region.”
About HireRight
HireRight provides comprehensive background screening, verification, identification, monitoring, and drug and health screening services for more than 40,000 customers across the globe. HireRight offers services via a unified global software and data platform that tightly integrates into their customers’ human capital management systems enabling highly effective and efficient workflows for workforce hiring, onboarding, and monitoring. In 2020, HireRight screened over 20 million job applicants, employees, and contractors for its customers. Visit HireRight.com.
What is the significance of HireRight's new subsidiary in Mexico for HRT investors?
The incorporation of a subsidiary in Mexico enables HireRight to enhance regional support and services, catering to a growing customer base, which may positively impact HRT's market performance.
How does the establishment of a subsidiary in Mexico affect HireRight's operations in Latin America?
It allows HireRight to provide more targeted and localized services, improving customer relationships and operational efficiency in the region.
What industries does HireRight serve with its background screening services?
HireRight provides services to various sectors, including financial, healthcare, manufacturing, and telecommunications, particularly for Fortune 500 companies.
Why is the local incorporation in Mexico important for clients?
It permits clients to transact in Mexican pesos, simplifying billing and payments, and it reflects HireRight’s commitment to localized service.
How has HireRight's growth been in Latin America recently?
HireRight has experienced notable growth as multinational employers expand their global employment screening programs in response to changing legislation.
