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The real cost of a wrong hire

The most alarming issue that makes any company risk-prone is Informalization. This makes an abundant increase in companies that need to make a more informed decision. Background Screening plays the most crucial part of it.

 

India is undoubtedly one of the most countable emerging economies in the world. A study shows that the workforce in India will par that of China by 2030. Urban areas are the most common entrants. Such inrush in jobs needs more enhanced employment protocols. The procedure itself paves the way to different levels of challenges in the level of recruitment and internal promotions.

Imposing rigid procedures in the process of hiring new entrants help the employers as the stakes have gone high. Unfit candidates sometimes cost money and even create a financial setback for the company. The most important factor to be cautioned is they tarnish the whole image of the brand in a matter of seconds. An exit of employees also poses a threat as all the valuable resources & training goes in vain. Imposing such strict screening measures with the help of Background Screening Companies in Chennai makes sure only the right candidates are hired & also reduces much attrition on the whole.

 

The whole landscape of our country plays a major role in increasing workforce informalization. It has also made the screening and verification process very challenging. Inadequate time, not gathering adequate information, crunching talent and stingy cost management often makes the employers to bypass the verification and valid background checks. Indian market is also prone to forged documents which again make the background screening process more vulnerable. There are around 8100 companies in India that operate with fake educational and employment certificates.

As we know India is a boon to global companies since there is abundant workforce available here. Increase in global penetration also implies that global hiring procedures are to be implemented across the country. This makes an overall positive impact on the Indian landscape. More and more companies are now moving vastly towards Background Verification Companies in India for their hiring process. Traditionally all companies tend to opt for background verifications only after some calamity occurs inside. But due to the advent of the global market, there is a need and awareness in imposing stringent background screening. IT and financial sectors are top in the list of companies that have awareness of such Employee Background Verification and understand better about the threat of not embracing such process.

 

Now there is a rise of awareness among all the sectors that fraudulent candidate can cost huge lose in employers and finance for the company. They have started to realize the need for Background Check Companies to reduce the risk, damage in finance and most importantly destroying the whole brand image. A strict background screening positions the employers as a responsible brand caring for its employees, clients, business partners, and the vendors.

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