Proco Commodities all set for Switzerland
Despite Brexit uncertainties, we are currently witnessing a high degree of mobility in the commodities space as talent continues to migrate between London and Switzerland. Many firms are looking to recruit for positions in Zurich, Geneva, Zug and Lugano, be it either on a permanent or temporary basis and as a business Proco Commodities is well-positioned to assist thanks to our network, relationships and access to talent based in Switzerland.
To be legally able to service cross-border Swiss recruitment mandates, businesses need to be licensed to operate in the region. It is the responsibility of the recruiter to possess a SECO license if they intend on placing talent globally that are addressed to a client in Switzerland, or if Switzerland is where the placement is occurring.
We do see non-SECO licensed recruiters dealing with Swiss clients, though increasingly the authorities are taking a hard-line on businesses that intentionally, or unintentionally, operate outside the law. Recruiters that aren’t licensed can face fines of up to CHF 100,000 (EUR 87,000) for infringements such as signing a direct contract with a Swiss client, sending candidate CVs to a Swiss client, or even advertising vacancies on Swiss job boards and inviting contact from candidates.
We advise our clients to be diligent in safeguarding themselves by ensuring all recruitment partners required to operate in the region are fully licensed, it is not uncommon for firms to be held liable for fines of up to CHF 40,000 per infringement, with the Swiss authorities prepared to cross borders to collect those fines. The fines apply per occasion and can be backdated. For the recruitment firm, there is the added risk of reputational damage, plus the likelihood that a client will refuse to pay agreed fees as the supply was non-compliant, which means paying fines and not receiving payment can make for a nasty double-whammy.
To ensure Proco Commodities are compliant, we have taken a number of steps which enable the business to immediately assist our clients. We have incorporated a Swiss entity with a Swiss Director and Manager in country, opened a Swiss banking facility and obtained the necessary Cantonal & Federal SECO license.
The good news is that as Proco Commodities, part of Proco Group, has been operating in the market for some time, we are well-positioned to help clients with commodities searches in Zurich, Geneva, Zug and Lugano. Should you wish to discuss your hiring requirements in Switzerland, please don’t hesitate to contact one of our market specialists who will be able to advise on a range of solutions that can be tailored to your business.
by Stuart MacSweenview my profile