By Natasha Singh Internal employee related thefts occur 15 times greater than external theft, reports the US Department of Commerce. Accord...
By Natasha Singh
Internal employee related thefts occur 15 times greater than external theft, reports the US Department of Commerce. According to a leading study on business losses, 72% of shrinkage is due to employee theft [1]. Similarly, news on criminal activities using fake ID proofs have been in rounds every now and then. What can be done to avoid such situations; the answer is background verification.
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Ensure a compliant & coherent leadership team. Screen them thoroughly! Read to know more how? http://is.gd/Cp3Wp6
6:00 PM - 13 Sep 2016
Find out the 'good', 'bad' and 'ugly' of your potential leader!
Ex-Macquarie director caught for fake email ploy - “A former Macquarie Group fund manager has copped a six-year ban from the corporate watchdog after he was found to have duped his rivals intolinkedin.com
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Is Background verification critical?
At every step in our life, we rely on our ability to trust people and entities. How many of us are confident about the genuineness of companies we join? We keep coming across several fake universities and institutions selling fake diplomas in exchange for moolah. Such incidents call for a more robust and structured approach to background screening. As the world comes together and as people become more connected than ever, global background screening will play a key role in determining relationships between people and entities. Take the recent example of mass immigration across Europe. Conflicts in Syria along with violence in Afghanistan, Yemen and Iraq has displaced a sizeable chunk of the population. The whole of Europe has seen more than a million immigrants over last the 6 months, Syria alone recorded more than 360,000 people applying for an asylum. The entire episode clearly shows how immigrants entering Europe illegally are causing disruptions in the system. This is a serious threat to the society as no thorough ID or background checks were carried out. Undoubtedly, people behind the numerous blasts in Europe were illegal migrants too. A national identity check and a thorough background check could have helped prevent this incident.
Background Verification can determine formal and informal relationships
Trust, security and ability are the key factors which determine establishment of relationships between people and entities. HR professionals would screen candidates to judge their qualifications, character and experience; banks would screen applicants for their credit worthiness and intent to pay. Similarly, service providers would screen hires for accessibility, character and skills. These decisions become tougher as scale increases and geographic boundaries come into the picture. Technology has changed leaps and bounds, presenting new opportunities for global background screening. Online repositories, advancements in communication, digitization of data, advanced analytics – all powered by technology has changed the face of background verification. And this trend will continue to disrupt and transform this industry. With increased mobility and opening up of new, global marketplace, the need for instant background verification has cropped up. This has turned the conventional background screening process redundant, mostly due to the following reasons:
1. Paper driven: Conventional background screening wrestle with the daunting task of managing manual processes on paper.
2. Duplicity in efforts: With multiple parties working on the same cases, there is a lot of duplication and wastage of efforts.
3. Highly error prone: Conventional screening is labor intensive making it prone to human errors.
4. Time consuming: With manual processes, time required to execute and process also increases.
5. Complexity: With no technology support, conventional background screening process can become complex at times, making it less effective.
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AuthBridge @authbridge
Verify with smart, innovative background screening processes! Add value to your company!https://is.gd/jBNfUx
4:57 PM - 1 Sep 2016
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This calls for technology based solutions, especially in the face of on-demand economy. Errors and complexities need to be eliminated and the process needs to become faster and efficient. Optical character recognition (OCR) has already made the process faster and efficient by eliminating manual entries and making quick data entries by reading document images. Gradually, technology is making inroads into the background screening industry and is setting it up for a revolution, much like it did to the taxi industry (ex: Uber), the hotel industry (Airbnb) and the retail industry (ex: Alibaba). None of these industry players own inventory- they are just technology providers, which now rule the industry! Being more agile, faster and adaptable is the clearly the way forward. Background verification providers need to match the scale at which organisations are hiring and people are consuming services. Technology, in this case, is not just a "good to have". It is, in fact, a much needed strategy for survival. With "instant verification" becoming the new normal in the next few years, automated background verification platforms will populate an individual/ entities history at a single click, in a matter of minutes- all this using complex algorithms, advanced analytics and latest automated technology platforms.
Internal employee related thefts occur 15 times greater than external theft, reports the US Department of Commerce. According to a leading study on business losses, 72% of shrinkage is due to employee theft [1]. Similarly, news on criminal activities using fake ID proofs have been in rounds every now and then. What can be done to avoid such situations; the answer is background verification.
Follow
AuthBridge @authbridgeEnsure a compliant & coherent leadership team. Screen them thoroughly! Read to know more how? http://is.gd/Cp3Wp6
6:00 PM - 13 Sep 2016
Find out the 'good', 'bad' and 'ugly' of your potential leader!
Ex-Macquarie director caught for fake email ploy - “A former Macquarie Group fund manager has copped a six-year ban from the corporate watchdog after he was found to have duped his rivals intolinkedin.com
Retweets
likes
Is Background verification critical?
At every step in our life, we rely on our ability to trust people and entities. How many of us are confident about the genuineness of companies we join? We keep coming across several fake universities and institutions selling fake diplomas in exchange for moolah. Such incidents call for a more robust and structured approach to background screening. As the world comes together and as people become more connected than ever, global background screening will play a key role in determining relationships between people and entities. Take the recent example of mass immigration across Europe. Conflicts in Syria along with violence in Afghanistan, Yemen and Iraq has displaced a sizeable chunk of the population. The whole of Europe has seen more than a million immigrants over last the 6 months, Syria alone recorded more than 360,000 people applying for an asylum. The entire episode clearly shows how immigrants entering Europe illegally are causing disruptions in the system. This is a serious threat to the society as no thorough ID or background checks were carried out. Undoubtedly, people behind the numerous blasts in Europe were illegal migrants too. A national identity check and a thorough background check could have helped prevent this incident.
Background Verification can determine formal and informal relationships
Trust, security and ability are the key factors which determine establishment of relationships between people and entities. HR professionals would screen candidates to judge their qualifications, character and experience; banks would screen applicants for their credit worthiness and intent to pay. Similarly, service providers would screen hires for accessibility, character and skills. These decisions become tougher as scale increases and geographic boundaries come into the picture. Technology has changed leaps and bounds, presenting new opportunities for global background screening. Online repositories, advancements in communication, digitization of data, advanced analytics – all powered by technology has changed the face of background verification. And this trend will continue to disrupt and transform this industry. With increased mobility and opening up of new, global marketplace, the need for instant background verification has cropped up. This has turned the conventional background screening process redundant, mostly due to the following reasons:
1. Paper driven: Conventional background screening wrestle with the daunting task of managing manual processes on paper.
2. Duplicity in efforts: With multiple parties working on the same cases, there is a lot of duplication and wastage of efforts.
3. Highly error prone: Conventional screening is labor intensive making it prone to human errors.
4. Time consuming: With manual processes, time required to execute and process also increases.
5. Complexity: With no technology support, conventional background screening process can become complex at times, making it less effective.
View image on Twitter
Follow
AuthBridge @authbridgeVerify with smart, innovative background screening processes! Add value to your company!https://is.gd/jBNfUx
4:57 PM - 1 Sep 2016
11 Retweet
likes
This calls for technology based solutions, especially in the face of on-demand economy. Errors and complexities need to be eliminated and the process needs to become faster and efficient. Optical character recognition (OCR) has already made the process faster and efficient by eliminating manual entries and making quick data entries by reading document images. Gradually, technology is making inroads into the background screening industry and is setting it up for a revolution, much like it did to the taxi industry (ex: Uber), the hotel industry (Airbnb) and the retail industry (ex: Alibaba). None of these industry players own inventory- they are just technology providers, which now rule the industry! Being more agile, faster and adaptable is the clearly the way forward. Background verification providers need to match the scale at which organisations are hiring and people are consuming services. Technology, in this case, is not just a "good to have". It is, in fact, a much needed strategy for survival. With "instant verification" becoming the new normal in the next few years, automated background verification platforms will populate an individual/ entities history at a single click, in a matter of minutes- all this using complex algorithms, advanced analytics and latest automated technology platforms.
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