Employee Screening, Employee Vetting Services from Eurocom C.I.

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High unemployment and fierce competition may bring out the liar

Not a time to be skimping on background checks

 

Most of the national press are warning that high unemployment and fierce competition for a handful of job openings may bring out the liar in some candidates, and deliver disastrous results to the companies hiring them. It is therefore an opportune time to review your screening processes. Coming from a background in fraud investigation we have seen the impact of a number of recessions. Each time, we see a substantial increase in company fraud, committed by once trusted employees. Sadly, it is not always the new recruit. We have seen many a loyal employee pushed over the edge by reduced working hours, lack of bonuses and fear of redundancy etc. Recessions are a time for vigilance and heightened controls all round. With new recruits, it is a different problem altogether. Their exaggerations, if you want to call it that, on resumes and job applications stem from their need to stand out amongst the other CVs. According to HR specialists, applications per job are up 85%, with some employers reporting in excess of 700 applicants per advertised vacancy. It is widely accepted that nearly 40% of resumes contain lies during normal times, but it gets much worse during bad economic times.

As unemployment begins to skyrocket, job seekers are tempted to exaggerate their credentials. Many think it is natural for people who may not have the best credentials to take a 'literary license' to enhance their chances in the marketplace. The amazing thing is how often they get away with it.

Companies looking to hire in today's volatile market need to protect themselves from fraud by insisting on background checks for ALL potential new hires. With the current proliferation of high level cut backs even some very senior managers may be looking to gain the edge on the competition. Skimping on background checks at this level can have disastrous results.

A recent survey conducted by the Society for Human Resource Management in the US, where screening new recruits is far more widespread, showed only about 50 percent of companies hiring today will contract with a screening company such as Eurocom C.I. About 25 percent will screen potential employees internally, and 25 percent will do no background checking at all. Those who screen internally may only contact references, potentially missing criminal records or other areas of concern. Often they completely overlook the screening of senior managers or Board members.

Eurocom C.I. was launched in 2006 to provide pre-employment screening services following the increase in employee fraud being investigated by our parent company Carratu International Plc. To discuss your specific screening requirements call us on 0845 880 5888.