How to Make Employee Background Verification Cost-Effective?
By Archna Oberoi | 27th July 2018 | #verification importance
Indian companies, irrespective of the industry they belong to, are realizing the need and benefits of employee background verification. Given that 70% of recruitment managers come across forged resumes while hiring, verifying a candidate before handing over the offer letter to them has become imperative.
While employee background verification is a crucial part of hiring cycle in large scale companies, startups and midsize companies still tend to skip this significant step in evaluating a candidate. The most common reason for bypassing background verification is the cost associated with it.
The traditional approach for employee background verification in India involves signing up with an agency that performs the job for them. Depending upon the factors to be examined- such as employment history, criminal or litigation records, finance verification, the companies pay a substantial cost to background verification partners. For most of the mid sized companies and startups, this cost is too much to bear and is therefore one of the major reasons why background verification-a crucial step in hiring is skipped oftenly.
How to make Background Checks Affordable?
Considering the importance of employment verification in recruitment industry, a number of tech-companies are coming up with solutions that simplify this process and makes it affordable as well. This advent in the hiring industry ensures that background checks are an inevitable part of the adding new resource to the company.
While a lot of companies go for manual background verification, it does have a lot of limitations. Opting for manual checks can lead to errors in verification as the system is unregulated and there is no proof of assessment done as per requirement.
Software applications like OkHire are developed keeping the cost limitations in mind. The application automates employee background checks while keeping the cost as low as 400 INR per verification. With one time investment in a software application, the recruitment team in an organization can: