![]() ![]() Real Estate Ownership Platform hBits has experienced almost 50 per cent inaccuracies and more than 35 per cent of all application forms containing deceptions about experience, education, and the ability to perform the job's basic functions. It was above the industry average of 0.65 per cent. Further, over two per cent of all education checks in the consumer products industry come back flagged as ‘red'. In Consulting, the most failed Background Verification ( BGV) reports comes from address checks (74 per cent). ![]() This may also be contributing to a higher rate of fraud,” he added. They end up hiring from companies and institutes with not the best reputation. ![]() “This puts HRs and Talent Acquisition Managers under a lot of pressure to hire. Hariharan further said the attrition level in the banking sector is second highest in the country after the technology sector. “This can mean a loss of efficiency with time wasted on the process of screening employees,” it said. “Many ex-employees, in a hurry to take up new offers, submit forged documents to avoid any delay in their employment,” he said.Īccording to the 2016 HireRight EMEA Employment Screening Benchmark Report, 33 per cent of HR departments said they had difficulty even getting quality information. Hariharan said the rise in fraud of fake document submissions in banking is caused by the industry-accepted policy of completing Exit formalities or Full & Final settlement three months after the employee has left the company. The sector has also reported the highest (29 per cent) instances of fake/forged documents. However, red cases due to an adverse court record check are at a much higher rate (2.16 per cent) in the sector than the average across industries (0.22 per cent). ![]()
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