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Discrepancy Trends At A Glance
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Cases of data theft, employee and executive fraud keeps the companies across the globe on toes. Hiring processes are one aspect where the companies expect to make the maximum difference. Employee background verification has become a part of hiring processes of companies in India for quite a long while. Adoption of background screening became necessary for companies across industries because of the discrepancies and falsifications in the information given out by the job aspirants in order to bag the desired job profile. Such dishonesty on the part of employees have led to a great deal of wrong and inappropriate hires which has further led to high losses and costs.
Given the high requirements of India Inc., a good number of background verification companies have emerged that are capable of addressing the high verification requirements. With spending a long time tackling the employee background issues, they are in a position to understand the difference they have been bale to make after all the efforts. One of the top background verification companies in India has done a research on the discrepancy trends. One of the research is concerned about the discrepancy trends across industry sectors for the last three years.
As per the discrepancy trends conducted for the last three years, overall discrepancy rate during the year 2010-11 is 20.47% which increased to a whopping 22.36 next year, 2011-12. Fortunately, the third year, 2012-13, saw a steep decline to reach 17.82%. Overall discrepancies include the in-congruencies and the differences in the actual and stated information pertaining to education, employment and other personal details.
The decline can definitely be attributed to the willingness of companies in adopting the employee screening policies. With employee background verification, companies have been able to attain the actual details about the employee’s background as well as the competencies that are desired for the given job profile. This has helped the companies in reducing the wrong hiring and the related costs.
However, the decrease in the discrepancy rate observed during the research may be due to a significant decline in some specific industry or a couple of industry sectors, or may be due to a country’s economic health. Having said that, decline in discrepancy rate is primarily due to a consistent deployments of background screening tools.
Such researches helps the corporate in understanding the result of its efforts on a larger scale. With a bright picture, it is only expected that more and more companies would join the band wagon soon.
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