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Benefits Of Background Verification Practises
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If we go by what the experts say, wrong hiring costs an organization way more than the employee's given salary. And whilst looking at job candidates, almost every other resume suffers from some type of incongruency or discrepancy. As per a leading background verification company, overall discrepancy rate almost touches 20%, a massive number.
In order to fight this menace, companies need to put in some extra efforts and money which is actually a nominal price as against the humongous costs resulted by incorrect hiring. Employee background check is capable of uncovering irregularities and discrepancies, bringing out real information, as well as affirm a person's personal and professional integrity.
Following are few benefits and observations pertaining to the entities which have incorporated the practises of background verification.
An effective part of employee risk mitigation strategy
Almost all the industry sectors in India face the issue of coming across candidates with some or the other incongruence in their resume and background. Thorough employee background check makes available information that is relevant to the prospective employer. Veterans and HR community vouch for employee screening practices as a perfect tool to strengthen and execute employee risk mitigation strategy effectively.
Absence of employee background verification process, on the other hand, can result in higher probabilities of facing fraud, dilution of reputation and workplace violence.
Exponential rise in acceptability of background screening process across industries
Given the advantages of deploying background verification solutions, its acceptability has risen exponentially in the last couple of years. Before the rise in implementation of background check practises, industries were observed to encounter high level of negligent hiring that further used to result in higher hiring costs.
Overall quality of workforce and new-hires improved
A careful and thought-out background verification process, coupled with robust monitoring mechanisms, helps in keeping the error rate low. Background verification process, in the long run, helps in improving the workforce quality as well as of the new-hires.
With such benefits and high acceptance in the Indian corporate society, background screening is one practise that should be incorporated by each company, big or small. In fact, the trend is also quite encouraging. Few leading background verification companies in India have been rendering services to the Indian market for quite a time that can address the increasing background verification requirements with ease. However, Indian market now has a well-developed background check industry that is capable of accommodating any company’s verification needs.
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