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In the face of technology disruption and initiatives such as “Make in India” and StartUpIndia, there is a focus on job creation. With multiple avenues opening up, recruiting managers are pressurised to make the right hiring decisions in quick time while ensuring the organisational goals for hiring and retaining are
Three out of ten business failures are the result of thefts at workplace carried out by employees while at least 30% of resumes are falsified. A recent Times of India data analysis based on the report by RBI shows that in public sector banks, one bank personnel is caught for
More than 7 crore Indians are believed to be addicted to drugs. The most recent report that was presented in the Rajya Sabha shows ten suicides occur in a day in India due to drug abuse. In 2014, according to the National Crime Records Bureau, 3,647 suicide cases occurred due
Attrition can cost up to 2.5 times the salary of an employee and is a major pain point for HR. One of the most critical issues that companies face relates to the retention of valued employees. Given the market competition in terms of talent acquisition, there is a high rate
Credit check ensures the prospective employee is stable financially and is responsible for managing his/her own finances. Employers are increasingly employing credit checks as part of employee screening services to protect the company from financial mismanagement. Credit check provides an insight into the likelihood of the candidate indulging in fraud
Even as unemployment reached an eleven-year high figure that runs into millions, the economic downturn is leading to a financial crisis. Companies resort to budget cuts on many aspects including background verification, security, and labor to save on expenditure. These short cuts, however, do not lead to success as wrong hires
Hiring the right candidate is critical for the growth and development of a company. Bad hires cost companies millions of dollars as a result of precious time being lost in rectifying errors, re-engaging the customers and looking for replacements. Businesses have to ensure the right candidate with the right qualifications
Whether recruiting an individual or setting up a partnership or alliance with a vendor or another business, it is crucial to know who you are dealing with. Instant KYC or Know Your Customer is designed to prevent misrepresentation and identity fraud. KYC verifies data related to individuals, businesses, vendors, or other
In today’s competitive and fast-paced business scenario, organisations have to streamline their operations to optimise profit and growth. Third-party outsourcing is a popular trend across industries and countries. Outsourcing certain tasks to a third-party vendor saves cost and time. Yet, there are inherent risks of outsourcing. Businesses have to ensure
The education verification process is one of the most important aspects of background screening. The workforce of today needs to have some form of educational qualification for their work, be it a blue-collar job or a white-collar one. Understandably, companies might want to trust the applicant’s educational qualification based on the appearance
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