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Employment Related Discrepancies Continue To Be High In Q3
Highlights
First Advantage, a Symphony Technology Group (STG) company and the leading global provider of screening analytics and identity solutions, today announced the release of Q3 2015 trends report, “First Advantage Background Screening Trends Report: India”.
: First Advantage Study
INDIA: First Advantage, a Symphony Technology Group (STG) company and the leading global provider of screening analytics and identity solutions, today announced the release of Q3 2015 trends report, “First Advantage Background Screening Trends Report: India”.
A competitive workforce and an efficient leadership team is quintessential for any organisation to succeed in an active market like India. In a situation like this it is incumbent upon the employers and HR heads to embrace hiring processes that will help them to identify talents that will contribute to the growth and development of any organisation. Multinational companies embarking in the Indian Territory use best-in-class hiring processes to address the strategic need of having an efficient workforce sans any undesired past. The rise in awareness about the benefits of screening the credentials of the prospective candidates, contractors and vendors has drawn the attention of the Indian employers from across verticals. This has led to the rise in demand for background screening in India.
To assist the employers to understand the discrepancy trend in India, First Advantage created the report: “First Advantage Background Screening Trends Report: India.” This latest study reveals key macro and micro trends and also provides the insight for organizations to benchmark their current programs and fine-tune their existing screening practices.
The report is based on data collected from employment background verifications and reference checks conducted by First Advantage in India. The screening results represent the company’s clients located in India. The results of the report are segmented under critical discrepancy types (employment, education, financial-related, address, and database) and examines the discrepancy breakdown by state, by industry, by age and by gender.
KEY FINDINGS FROM THE REPORT INCLUDE:
· The discrepancy trend for the previous four years - 2011, 2012, 2013 and 2014 illustrates an average of 10 per cent discrepancy in the first three years and in 2014 it has risen to 10.5 percent.
· In Q3-15, 78% of the Overall discrepancy cases were Males and the remaining 22 % were Females.
· Highest number of discrepancies have been detected in the >=22 to 30 years [age bracket] candidates.
· The trend for discrepancy cases shows BFSI at the highest at 43 % and IT at 21%.
· In Q3-15 - discrepancies related to Employment, Address and Education components [checks] were at 56.3%, 14.3 % and 4.8 % respectively.
· Discrepancy rates for Employment and Address checks are very high in the Southern zone and the discrepancy rates for Education checks are very high in the Northern zone.
· In Q3-15, State-wise discrepancies, Karnataka state leads at 22%. Maharashtra closely follows at 20 %, Andhra Pradesh at 11 % is followed by Tamil Nadu at 8%, Uttar Pradesh at 7% and New Delhi at 6%.
· Fake Document, by far, forms the biggest chunk at 39 % in Q3-15 in comparison to 47% in Q2-15.
“Through this trends report, First Advantage strives to help employers better understand their recruitment risks at the macro and micro level within this prolific nation. This report collates our in-depth understanding of cultures and compliance requirements with detailed screening statistics gathered across our customer base in India," said Mr. Purushotam Savlani, MD & SVP at First Advantage India. "This trends report also provides insights that employers can use to streamline their existing hiring and screening practices and benchmark their current programme results against others in the country."
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