The recruitment processes of what was once considered ‘normal’ have very much changed to suit current trends. The Organisation for Economic Co-Operation and Development (OECD) noted that unemployment rose sharply in 2020 and will remain high in 2021, reinforcing the need for hiring processes to be reconsidered. Doing so effectively mitigates opportunities for dishonest candidates committing identity fraud to reach your talent pipeline. As in-person recruiting is increasingly being replaced with online alternatives, interpersonal communication is reduced and fewer colleagues are involved in the interview process. Relying on loose qualifications, scripted answers and photocopied documents alone will likely create expensive company havoc down the line. To repel identity fraud, verify candidates so you know who exactly who you’re dealing with.
Professionals who recruit remotely are exposed to candidates who assume a false identity, submit false credentials, fabricate work experience or combine all three. Impersonation can be disastrous for companies and worse case scenarios could lead to resource drainage, embezzlement, client loss, reputational damage, risks to employees and unfortunately, loss of life. The need for safeguarding hiring processes with identity verification is supported by a Research and Markets report stating that the global identity verification market is expected to grow from US$7.6 billion in 2020 to US$15.8 billion by 2025.
In 2020, 1.4 million identity theft reports were made in the US alone, more than double the number from 2019. Pre-pandemic, a woman who was hired by the South Australian Department of the Premier was done so on false pretenses. She was awarded a high-paying job based on a fake LinkedIn photo, a glowing employer reference from herself, a fraudulent resumé and false education and employment information. This high-profile case concerning the Australian government, highlights the crucial need for companies to really know who they’re hiring and save themselves embarrassment, reputational damage and financial loss. Unfortunate scenarios like this make it very relevant for employers to conduct identity checks as a necessary part of the candidate screening process.
Minimizing the risks of identity fraud:
Identity fraud measures should be preventative solutions. As soon as you advertise a role, communicate with your audience that potential applicants must undergo verification as a prerequisite. Ensure that not only is their identity verified but their qualifications, work experience, education and good standing should be too. Genuine candidates will have nothing to hide and will be willing to undergo the candidate screening experience. Implementing these standards from the beginning will assure candidates that you take hiring seriously.
Employers recruiting remotely can incorporate ‘on-demand’ digital identity verification solutions to their hiring and onboarding processes. These digital tools are paramount in overcoming physical meeting drawbacks. Tools such as videoconferencing, artificial intelligence and machine learning products validate identities while protecting businesses and clients from fraud. It seems that once the world returns to ‘normal’ that identity verification will continue to become a standard remote hiring procedure.
For pre-employment checks, companies can save time and energy by using sophisticated ID verification services that incorporate artificial intelligence with facial recognition technology. These verification solutions contribute to a positive onboarding experience for your candidates who can remotely verify identity documents such as passports and ID cards and securely store them, tamperproof, on the blockchain.
The HR environment and how employers recruit has changed drastically since much of the working world transitioned to working from home. With widespread levels of unemployment and inefficient safeguarding in place, dishonest applicants have all the more reasons to attempt fraudulent activities.
If you want to know more about our identity verification solution and how it can assist your current hiring processes, please feel free to reach out to us via email@example.com.