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06.01.2019 : News

Detecting resume fraud costlier as deceptions become more subtle

Job applicants are becoming more subtle in how they falsify their resumes

It may seem paradoxical that as companies become more efficient in performing effective background screening on applicants, the process is becoming more costly. The reason is simple: job applicants are becoming more subtle in how they falsify their resumes. They exaggerate and inflate rather than outright lie. Instead of deliberately lying on their resume by making up non-existent past employment or education, they distort their accomplishments and positions at a company where they actually worked.

Background screening specialists are seeing increasing amounts of this type of subtle resume falsification and inflation. At Mintz Global Screening, our own screening statistics show that more than twenty-two percent of resumes are falsified and approximately seven percent of applicants have criminal records. For hiring companies, this represents a serious and expensive risk.

What are the risks of a bad hire?

Hiring the wrong person can cost a company $25,000 in wasted advertising, employee training, compensation and benefits, and a lot more if that person engages in criminal or fraudulent behaviour while employed. Canadian businesses lose about five percent of revenue to occupational fraud each year. A recent study shows that the median fraud loss totals $200,000 for Canadian companies and that small businesses loose twice as much per scheme to fraud. And those figures do not include the intangible damage to a company’s good name and reputation, lost business and reduced employee morale that a bad employee causes.

Determine the type of background check program to implement in your hiring process

Onboarding the right applicant to meet your needs is crucial for your business’ success and security. An effective background screening program will provide vital information allowing you to make an informed decision. While your specific needs will depend on your corporate policy and the position you are recruiting for, the program can consist of a comprehensive check that includes some or all of the following elements: criminal record check, credit information, education verification, professional accreditation, employment history, I.D. verification, international security, and references.

The approach should be flexible enough that you will be provided with information relevant to your decision, however comprehensive enough to ensure that you have the best, most accurate information available in the shortest time possible. By using experienced researchers who know where to go for the right information and how to ask the right questions, screening will not unduly delay the hiring process and the information you receive will allow you to make the best possible decision.

In today’s volatile business environment, you have enough to worry about without the additional concerns about the honesty and trustworthiness of your employees. Comprehensive background check services will help keep your employees, your business and your customers secure as you build a quality workforce, preserve your corporate reputation and maintain a safe and productive work environment.

Don’t hesitate to contact our experts to help you build an efficient background check program.

*Sources:

The Global Fraud Study, from the Association of Certified Fraud Examiners, 2018

Detecting Occupational Fraud in Canada: A Study of its Victims and Perpetrators

The Staggering Cost of a Bad Hire, The Headhunters

03.10.2019 : News

Why obtain a new employee’s job references?

There is a risk involved every time you hire a new employee. The new hire could, of course, prove to be the perfect employee, making a huge difference in your company… but they could also turn out to be a bad hire that will cost you time and money. Find out how you can obtain job references for a potential employee to help you make the best hiring decisions possible…. Lire la suite »

03.10.2019 : News

How to verify the authenticity of a candidate’s diploma for a position in Canada

Education is generally a very important factor for recruiters in a job selection process. After all, applicants acquire the knowledge and many of the skills necessary to perform a job during their academic training. This makes it crucial for hiring managers to check the authenticity of the diplomas mentioned in the job applications they deem interesting. But how do you do this? Performing an education check is now essential Every… Lire la suite »

03.10.2019 : News

Why is the exit interview of an employee important for your company?

Employees are most likely to share their honest views on your company during their exit interview, since they have no fear that their answers will influence their status within the company. This process can therefore provide you with valuable insight into your organization, helping you retain your staff and improve your recruitment. Find out why. Exit interviews can help retain talent In the event of a voluntary departure, the employee’s… Lire la suite »