Did you know that a whopping number of candidates lie on their resume in the hopes of getting the job they want? It’s true. A study conducted by CareerBuilder found that out of 2,500 managers in charge of hiring, as much as 56 per cent admitted that they have caught applicants providing false information on their resumes. Data from AuthBridge concluded that 1 in every 6 candidates lied on their resume in 2017 to bag a lucrative job!
It is exactly for this reason that employee screening services are increasingly in demand. Background verification companies in India are dealing with a lot of businesses that want to make sure that their potential employees are exactly who they claim to be, and they are not a threat to the safety and security of other employees and even the company itself. Today, background screening for employees is no longer seen as an unnecessary expense, but rather a necessary step that can ensure a company’s stability. Read on to find out how the perception of background verification has undergone a positive change, and how background verification companies in India are contributing, as well as responding to this welcome change in landscape.
How Businesses Approach Background Verification: Then and Now
Earlier, it was a common perception of most businesses that employee screening services were an unnecessary expense that only increased operational costs. But as mentioned before, this was clearly not the smartest decision, since so many job applicants lie on their resumes. Moreover, instances where employees commit fraud at workplaces were on the rise and became a genuine concern among employees. In fact, a study by the Association of Certified Fraud Examiners in 2014 found that occupational fraud cost companies almost $3.7 trillion worldwide.
It also reported that employees steal around 5 per cent of revenues every year on average. Seeing this dire mistake of compromising on background screening for employees, businesses now approach background verification not as an unnecessary expense, but as a critical business measure to mitigate risks, that could have cost them thousands of dollars in damage.
Today, background verification companies in India are in demand more than ever because businesses now understand that employee screening services are imperative steps that must not be ignored in any situation. They are an important method of building trust with their potential employees.
How background verification companies in India are changing the landscape
Background verification companies in India play the most critical part in this changing landscape of background screening for employees. Not only do they contribute to the shifting paradigm, but they also have to respond to it, since the kind of services they offer are completely dependent on it. The rapid increase in technological innovations and automation has definitely helped background verification companies to keep up with the increasing demand, without the quality of their reports suffering. On the contrary, it has helped them to be more efficient.
AuthBridge, India’s leading background verification company, makes use of state-of-the-art tech-driven devices and platforms like Application Program Interface, commonly known as API, Artificial Intelligence, Machine Learning and more. Using the technology of APIs, background screening for employees in any company can be made easy, like never before. Now, you can directly raise cases and get results. Also, you can track real-time progress without manual intervention or paperwork of any kind. There is minimal scope for errors too since well-crafted and efficient machines carry out the entire process. Moreover, it is an excellent option for background screening companies in India as it can effectively save costs on logistics and manpower. If you want to know more about the changing landscape of background verification, schedule an appointment with our expert today.
Write to us at: sales@authbridge.com
