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Forging academic certificates may attract stiff penalties
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Private eye: India Inc turns big brother
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The New Urban Junkie
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Background screening cos get a fillip post 26/11
 
Industry Truth
Background Screening – The Truth of numbers

TRENDS ON RESUME DISCREPANCY

Education Discrepancy
Of the discrepant resumes
24% of Résumé's have discrepancy in Education
  • 90% is attributed to submission of Fake Mark sheets & Degrees & Fake Universities/Institutes
  • 5% is attributed to inflated grades & backlogs
Employment Discrepancy
Of the discrepant resumes
70% of Résumé's have discrepancy in Employment
  • 35% is attributed to Tenure deviations which could be inflated tenure, gaps in employment, overlapping dates.
  • 30% is attributed to fake documents & false information
  • 22% is accounted for by Salary & Designation
  • 13% is accounted for by negative feedback given by Supervisors & HR managers.
 
Employment Screening is a must for all organizations because of statistical facts on Fake & Fraudulent Job seekers. There are also regulatory requirements in vogue and expected in future which warrants Employee Screening.
Few Facts Pertaining to Prospective Employees:
  • In India 15 – 24 % of resumes are faked.
  • 1 in 3 CV’s misrepresent facts
  • 15 – 17 % in ITE’s / IT industry have discrepancies in the records.
Regulatory Reasons why you need to do Employee Screening:
  • Regulatory Authorities across the world are now looking at making Employee Verification a mandatory requirement.
  • Sarbenes Oxley act has mandated Indian Companies catering to USA, re-look their Fraud Risk assessment of which Employee Screening is an in-separable component.
  • Hong Kong Monetary Authority has mandated banks to do Employment Screening for all Managers.
  • SEBI in India has attempted to raise Risk Management in Indian Companies through Clause 49.
  • Banks as part of Basel II framework will need to put in place a robust perational Risk framework, of which people risk is the most critical component.
The statistics on the consequences of even one bad hire are chilling. The financial costs to businesses from theft, misappropriation and false credentials can be enormous. There are other costs that are hard to measure such as harm to employee morale and the firm’s reputation.
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