The Importance of Comprehensive Background Screening-Backed Hiring
In April 2018, an instance of a senior employee of an e-commerce company committing fraud made headlines. The accused entered into a fraudulent agreement with one of the suppliers. Substandard products supplied by the vendor were priced on par with genuine products. The company had to file a police complaint on both the employee as well as the retail supplier for colluding to commit the fraud. The employee now faces criminal charges including forgery, cheating, breach of trust and fraud.
A few years back, an IT company based in Bangalore employed a software engineer at management level who came across as bright and competent. Two months into his employment, the company noted that at odd hours, large files were being uploaded on to the servers of its competitors. After an investigation, it was discovered that the employee was selling data to the competitor. Frauds at the workplace have obvious financial consequences, but other repercussions include damage to company’s reputation and compromised data security. Falsifying bills, excise and taxes are some of the other areas into which employee frauds extend.
Expense fraud is one of the most common ones encountered across the globe. In Australia, 42 percent of employees have been found to make false mileage claims according to a study. These are some of the reasons why comprehensive background screening-backed hires for any role is a must. For instance, Kate was the chief financial officer for a firm struggling in a highly competitive market. Her extensive experience and leadership skills ensured the firm’s growth while its valuation tripled.
Apart for being responsible for establishing ethics and the right tone of culture in the organisation, employees often handle sensitive data as well as important contracts. Hiring employees with critical capabilities can help build accountability into every aspect of businesses.
Smart technology speeds up Employee Screening Process
Background Check is the ideal solution that can help prevent wrong hires and ensure safety in the workplace. Until about a decade ago, background screening was completely non-existent in India other than reference checks.
With the advent of integrated smart technology, background checks has become easier, faster and smarter.
Applicant tracking system (ATS) linked with the background screening process enables a seamless flow of data. Once the third-party investigations are carried out, the data directly reaches the company and can be permanently stored in the ATS. Data handling and processing which earlier was something only humans could carry out is now handled by artificial intelligence (AI). Advanced algorithms of machine learning and AI can accurately retrieve information from any organisation the candidate is indirectly or directly linked. Access to various databases maintained by both national and international agencies, legal and regulatory checks make the background check processes truly comprehensive.
The dataset covered is broader now than that was accessible to traditional screening. Large volumes of data can present a “data mountain” for HR teams to sort through, which can be like finding a needle in the haystack. The major advantage with AI-enabled background screening is the elimination of duplicate reports. Relevant and actionable insights help HR teams complete the employee screening process in quick time.
Professional background screening service providers, AuthBridge, specialise in offering advanced APIs that can integrate with mobile, as well as, web applications. Given the ease and speed with which candidates' background details can be obtained, on boarding any level of executive becomes a breeze. Extensive and reliable reports on wide-ranging checks such as national identity, education and address verification & employment history are available at the fingertips.