Background checks are critical components of the hiring process. As per a survey, 72% of the employers said that conducting background screening helped them in identifying vulnerabilities that they would not have found otherwise.
Social media screening is conducted by utilizing publicly available information obtained through widely used social media networks in order to get insights into a job candidate. The goal of this screening is to ascertain if there is any red flag that the employer must know before making a recruiting decision.
With the new trade opportunities, technology and consumer demands, businesses are springing up resulting in the growing need for hiring which can be a difficult job since it is always hard to hire the most suitable and advantageous person for the company. In this regard, background verification plays a very important role to determine recruitment of the most eligible candidate.
"Of the 17.2 million illicit drug users aged 18 or older in 2005, 12.9 million (74.8 percent) were employed either full or part time," according to a survey done by the Occupational Safety and Health Administration (OSHA) in 2005. The survey also showed that 10-20% of work-related deaths are confirmed to have caused due to drug or alcohol. A drug abuser is also responsible for 40% of all industrial workplace deaths.
When it comes to hiring the ideal employees for your company, going beyond the surface level should be standard procedure. By verifying its employees’ background, an organization’ assets, image, identity and most importantly, its employees are safeguarded.
Did you know? According to World Migration Report 2020, there are, approximately, 281 million people in the world who are living in a county other than the countries of their birth. The count is 128 million more than in 1990 and over three times the estimated number in 1990.
The Hascol Petroleum narrative illustrates a firm that rose to lofty heights only to face a dramatic fall. At its peak between 2010 to 2018, Hascol’s revenue increased by 52.7% from Rs7.9 billion to Rs234 billion.But fast forward to the present day, everything has changed. At the end of a year marked by turmoil and instability,
Following Covid-19 pandemic, background verification industry has grown to be very crucial as the epidemic has resulted in numerous hazards. Growing rate of unemployment and financial crisis has aggravated the cases of frauds and thefts.
Background screening checks prior recruitment of a candidate is crucial as it ensures the eligibility of applicant for the job which results in reduce costs associated with onboarding or failed probationary period. Background screening companies needs to evolve their methodologies in order to achieve best possible results. Here is how background verification companies can maximize their effectiveness.
Whether it is about recruitment of new team members or merging of businesses into an entity, background verification is an essential practice in this modern era which needs to be in conformity with latest technological advancements.
The outbreak of COVID-19 is not only health crisis but can also be termed as human, economic, and social crisis as it has greatly affected all the segments of population. With this pandemic, like other industries, background screening industry is also being affected and is compelled to use other methods of conducting employee verification.
A business start-up is a big life decision that needs due consideration. You cannot start selling a product or service in any market unless you have a clear idea about its customers' needs and demands. There are so many questions hovering in your mind.
The number of SIM swap cases has risen to three times in the last five cases. In 2015, people only reported 144 cases in the UK. At present, there are more than 483 cases all around the UK. It's not just the UK where people are losing their bank accounts due to SIM Splitting, other two noteworthy countries where people reported these scams are India and Nigeria.
Background checks are essential as they let a recruiter avoid bad-hire. However, not every organization considers it necessary, and not every employee takes it seriously. In the employment industry, some misconceptions about employee background checks are circulating. It's time to know the truth about some myths related to this activity.
No matter what kind of business you are running, there are always some risks involved in its operation. Accurate marketing research may not reduce 100 percent risk factors, but it can undoubtedly mitigate such factors to a great extent.
Tax Pilferage aka “Tax Chori” is a formal expression of Tax evasion which refers to all the unlawful activities to escape paying taxes.
New York State filed a civil lawsuit against Johnson & Johnson, accusing the company of opioid claim insurance fraud for downplaying the risk of opioid painkillers, according to DFS (Department of Financial Services).
China Tycoon Zhong Yu changed the history of China Stock Exchange by performing the lead role in 11.5 Billion-Yuan ($1.7)billion worth corporate fraud case. The faith of Kangde Xin Composite Material moved upside down when its founder and controller put its reputation at risk.
No matter what kind of business you are running, it's vital to keep a proper record of financial transactions. Financial reports make it clear where the money is coming from and where the money is going. It's not just the record that matters; data and reporting accuracy is a must to avoid fraud and get in trouble with federal agencies just because you have a minor mistake in your financial statements.
CASE DETAILS: Fraud represents a grave risk in any society where it grabs hold, specifically when it comes to academic credentials. The misrepresentation of Educational documents is particularly devastating, in view of the fact that academics are intended to reflect entrusted with leading society toward evolution, headway and advancement in all walks of life. We are confronted with a malfeasance that tear down the present and the future, sabotaging all implications of competency, steadiness, legitimacy and reasonable rivalry.
In 1970s, Pakistan International Airlines was among the fastest growing airline services. An ad from the past claims that every 6 minutes, a PIA plane lands or takes off from Pakistan. Being the first airline services to include Boeing 707 in fleet, PIA enjoyed its dominance in Asia. PIA became the first airline to complete the world's longest nonstop flight by a commercial airliner by using Boeing 777-200LR on November 10th, 2005 and yet the record has to be broken. But the question is, how did the best airliner from 1970s failed in 21st century, in an era of technology and innovation where businesses are sustaining.
Globalization is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows. As we enter the fourth wave of globalization, compelled by the digital mutiny, there is changed debate over whether it is a valuable force: powering economic growth, and allowing the spread of ideas to improve people’s lives; or whether it wears down the communities, and broadens the gap between the elites and the rest of the world.
Global oil storage could reach extreme volumes within weeks due to the corona virus (COVID-19). As the coronavirus crisis intensely reduces consumption and some of the world’s most commanding crude producers start to incline up their output. Supply, on the other hand, remains largely flexible due to a price war between Saudi Arabia and Russia. US producers don't want to be the first to flash by turning off production. This mean that the supply surplus is so epic that the world runs out of places to store crude oil.
The outbreak of the corona virus is having a profound and serious impact on the global economy and have urged policymakers to look for ways to respond. Coronavirus are a family of viruses that can cause illnesses such as the common cold, severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS). In 2019, a new coronavirus was identified as the cause of a disease outbreak that originated from China.
One of the problems associated with the inability to run employee’s background check is that the organization can miss out on employee irregularities for instance rogue trading.
Employee fraud is a serious problem that effects 50% of businesses every year around the globe. Prevention of frauds is much easier than recovering your losses after the fraud has been committed so every organization should take preventive measures to control the risk of employee frauds. Every time a business needs to fill an open work position, there are few steps that need to be taken.
When it comes to the hiring process of a company or an organization, there are many pitfalls that must be avoided. There is no shortage of candidates who apply for each vacancy. To make sure you only hire the most competent applicant, it is important to run some background checks for each candidate.