Hiring new employees is like doing a tight rope walk- you never know whether you will stay on the rope or fall off it? It is important to hire the right candidates with the right skill set, however, it is equally important to understand whether they are genuine or not. In a recent turn of events, HDFC carried out internal audits and caught 68 employees who had submitted fake documents to get a job at the bank. This also involved the consultancy, Adecco from Gurgaon, in the storm with the bank filing an FIR against it.
This is a huge racket and there are many scamsters out there waiting to dupe candidates with fake offers and get candidates placed in high-ranking companies with fake documents. This is the reason companies need to conduct a strict background verification of employees to avoid getting embroiled in any controversies.
What is background verification?
Background verification involves a thorough check of the employees’ past employment records, salary statement, criminal record history, education check, credit history, license records, and much more.
Effective background verification services help companies get all the information they need about an employee when he joins the company. Some companies invest heavily in vetting a person via social media before actually recruiting them. This helps them to understand the person’s views and stance on a public platform. Depending on the job profile companies indulge in pre-employment background checks that include medical tests, credit history checks, criminal history screenings, etc.
A healthy background check offers a clear benefit to the employers that includes-
- Recruiting high-potential candidates.
- Seeing better joining ratio.
- Ensuring a healthy workplace balance.
- Exposing negligent hiring practices followed by fake recruiters.
- Flagging concerns that may involve the employees’ behavioural conduct, past records, etc.
A considerable 68.25% of the respondents stressed that background checks remained critical before recruiting a candidate. The pan-India survey spanned over a period of two-and-a-half months commencing from the first week of March 2018. (Source: People Matters)
The job market today
There are many spurious consultancies who are involved in the job racket with the flourishing industry but shrinking job opportunities in the public and private sector. Loads of students pass out of colleges every year and there aren’t so many job opportunities to place these students. This is where fake recruiters, fake job offers and fake joining letters come to light. Candidates are desperate to land a job and they get misled by such conniving individuals. Recently, in June 2018, 2 companies were caught being involved in such a job racket. They were accused of offering candidates jobs in Tech Mahindra, TCS and Wipro, amongst others.
At least 53% of all job applications hold inaccurate information, 11% of job applicants misrepresent why they left their previous employer, over 34% of all application forms cover outright lies about education, experience and ability to perform necessary job-related functions, and much more. (Source: HubSpot)
Importance of background checks
With such alarming data, it is imperative for employers to be thorough in their due diligence while hiring a new candidate. These proven statistics just give another reason for companies to strengthen their forte and not go through a tumultuous employment screening process just to know that they hired the wrong candidate.
Widespread job infringement has made it important for companies to be wary and carry out detailed scrutiny by employing specialized services of background verification providers. Sherlock Zone helps companies to connect with the right background verification service providers who will deliver a comprehensive background check that will cover all the different parameters. This will help organizations become more agile while selecting candidates and also ensure workplace safety.