Corruption has put its foot forward in the corporate world as well. If you happen to hit Google with the keywords – “corporate frauds”, You will find thousands of reports. There has been a study going on, on this topic and the surveys have brought an alarming figure in picture. A recent research done by a Pune-based research and consultancy firm stated that ‘India maybe losing around US$40 billion to employee fraud every year.‘
70% of corporates have no mechanism to deal with frauds which might happen in future. Corporate frauds have become inevitable at this point of time. But still, we are reluctant to talk about it.
Can we really afford being ignorant about this topic? Well, of course no. It’s better to be safe than sorry.
In such a fraud-filled scenario, background verification becomes a must. Analyse a situation where a candidate comes up with simple misrepresentations like:
- Dates of employment changed or extended,
- Position or salary or tasks are exaggerated or forged, or
- Unmatched lie like employer listed is fictitious.
These might help the candidate to get the job, but if not stopped here, he might indulge in some other malpractices’ after joining the firm to reach his/her goals. Will you make such a phony candidate face of your organization who will further bring losses?
Another matter of concern is that can we leave the critical background verification check on the recruitment consultancies? The world is becoming bigger and area to be forged wider. It has become imperative to get the background check done by specialists and experts who have a wide web of network and which do a comprehensive check of the candidate selected.
JantaKhoj is one such answer to the growing problems. So let’s team up together and get the dollars flowing in the direction of growth and keep the frauds out of your organization!!
