1 in every 6 candidates were found to lie on their resumes in FY17. The discrepancies (mismatch in information shared by a candidate during job application and the information verified during background verification.; source: Annual Trend Report 2017) rose by 48% PAN India compared to FY16, indicating increased fraudulent manipulations to secure lucrative jobs. HR Fraternity is dealing with increased job switches, making talent acquisition and retention extremely critical. Increased attrition, easily available job information on job sites and increased globalization has led to frequent job hopping amongst candidates.
At an alarming discrepancy rate; employee fraud is one of the expensive most liability for an organization. Not yet impressed, here are a few more…
Some More Facts
Past Employment history was the most manipulated, followed by address details. Employee screening services have witnessed radical changes in the last three years. Identity verification has gained significant momentum following increased identity fraud incidents.
What’s the Matter Really?
Increased discrepancies across sectors & job titles is disturbing. Frauds during the hiring process leads to Bad Hires. Bad Hires can cost you a world when it comes to Insider Threats, Brand Reputation, Financials, Peer’s safety and Workplace Culture! HR must ensure every candidate is Screened before Hiring!
What is the HR’s Role?
HR across organisations need to mitigate employee risks by adopting structured background screening programs. This involves creating a standard grid for classification of unacceptable gaps in candidate resumes and verified information, formulation of strict policies related to background screening during hiring, and implementing role-based background verification packages. These need to be customised in line with the risk associated with a profile. Structured background verification programs eliminate bias from the hiring cycle by treating all incoming employees at par. Identity verification and criminal background checks should be “must conduct” checks to ensure a safe workplace!
In a nutshell, organisations need to adapt themselves to the changing fraud paradigm and keep reinventing their background verification program to mitigate risks and create a safe workplace! To know more, schedule an appointment with our expert today.
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