BGV Services

Today is the world of checking someone's background before connecting with them professionally or personally. Being it for a personal relationship, hiring, giving credit, business association, we need to know the information in detail before we deal with them. It is important to pact with the right person. Otherwise, ready to face some serious consequences which may consume annoying time and money.

Unfortunately, India is one among the leading country in the APEC region suffering from resume discrepancy issues. At least, 4 out of 10 resumes are having discrepancies. Wrong hires always been a pain which has ridiculous impact on a company's credibility and valuable data.

According to recent studies, the top 5 industries having major resume fraudulent are:

• Pharmaceuticals
• Banking & Finance
• Manufacturing
• Information Technology
• BPO

The major discrepancies are identified prominently in employment experiences followed by education qualifications.

The fact to note here is that most of the companies in the top 3 verticals are not conducting the proper background verification before hiring their employees. One of the common reasons quoted for this is 'Referral Hiring'. The person recruited through the known sources is believed as clean which is may not the case.

Also, people from reputed educational institutions are blindly considered as clean. But mostly there is always 10-15% of the students are not completing their courses on time due to various reasons.

When they come out of college and getting into the job market, noticeably getting into malpractices.

The key things company should be worried about recruiting an employee without conducting background verification are:

• Wasted hiring budgets
• Information theft or embezzlement
• Strained employee relations and morale
• Endangerment of employees, clients and business associates
• Productivity loss
• Litigation issues
• Negative publicity

The current education systems, a wide range of information access and technology created a serious competition in the job market which also resulted in instigating the candidates to alter their resume details in getting their desired job. While background checks are recognized as legal in India, the employee background screening industry remains most unorganized. It is important for the employer to choose the right vendor based on report quality, verification methodologies and Turn Around Time.

Nowadays, frauds and fiddles have become overriding that organizations have started focusing on proactive risk management.