The majority of job seekers are basically good people. I use the term good artfully here since the notion of good and evil comes with many connotations. In this case, I am referring to the ideology that most people abide by laws and regulations have a sensible moral compass and don’t want to deceive anyone for fear of being deceived themselves or worse.
It costs employers 33% of a worker’s annual salary to hire a replacement if that worker leaves. Source: Work Institute, 2017 | Retention Report, 2017
Globally the rate of fraudulent and falsified documentation stands at around 3.35% as of October 2017 according to The DataFlow Group Statistics. This number isn’t so bad when you consider just how many applicants are in the pool at one time. A quick look at all applicants will reveal that there is only a slight disturbance in the applicant pool.
Invest in the process
Leaders and decision-makers understand that it takes a long time to source, hire and onboard new talent not to mention the exorbitant cost associated with the process. This might be one of the main reasons against performing high-level employee security checks.
Ultimately document verification is a critical piece of the application screening process. Besides documents, social media profiles and references have proven to be an essential component of identity and personality verification these days. Social media has proven an effective tool when probing into the lives of the potential candidates. Recruiters have turned to social media in an attempt to weed out the unfit candidates before taking into account any of their vital documents.
Social Media Screening is Not Enough
Recruiters have disqualified candidates based on social media profiles depicting provocative or inappropriate content, drug and alcohol consumption, bigoted content and bad-mouthing previous company to name a few. But even social networking has started to prove challenging in sifting through appropriate candidates. Recruiters need to be aware of personal biases and over judgmental attitudes when interacting on social networks; there is a strong possibility that an overzealous recruiter can reject an excellent candidate. Primary Source Verification (PSV), the verification from the original source of a specific credential (education, training, and licensure) to determine the accuracy of the candidates’ qualifications takes the human interpretation and judgment work out of the equation completely.
76% of hiring decision-makers reports a concern or challenge in attracting and hiring passive candidates, as they have grown wary of contact through networking sites (e.g., LinkedIn). Aptitude Research Partners, August 2017
If the applicant can do the work why invest the time and money into ensuring that their qualifications and education are legitimate. Companies have turned to depend on police background checks as an alternative verification resource. And though a background check is a good idea, it doesn’t verify the applicant’s credentials.
But let’s consider what can happen when everything checks out and a potential candidate passes all the preliminary checks and balances.
True Cost of Inaccurate Screening
Attracting high-quality candidates is the top challenge for 76% of hiring managers, according to Glassdoor
The costs associated with not putting in your due diligence work upfront prior to onboarding candidates can be very costly indeed. Taking into consideration the fact that on average a company spends approximately $4,129 per-hire according to SHRM Human Capital Benchmarking Report 2016, so acquiring the wrong person or personality type can potentially cause collateral damage affecting other employees, incurring costs associated with termination and replacement. In a lot of cases, companies already have to deal with a very high annual turnover – hiring the wrong person just adds to the employee acquisition needs.
Average time-to-hire a new employee was 39 days in 2016, down from 43 days in 2015. Jobvite 2017 Recruiting Funnel Benchmark Report