AuthBridge Research Services Pvt. Ltd. releases their 5th Annual Trend Report
New Delhi August, 2019. AuthBridge Research Services Pvt. Ltd. – the largest Indian Employee Background Verification firm – has released the 5th edition of its Annual Trend Report on Employee Background Screening, one of the most valuable sources for the emerging trends in the Background Verification industry in India. The AuthBridge Annual Trend Report covers top 15 industries to gather fascinating insights around discrepancy trends in the information shared by candidates during the verification process. The findings span over a range of checks conducted on candidates across the country to paint an elaborate picture for employers to draw appropriate conclusions from, in order to build effective risk mitigation strategies.
The recent report has added a new segment ‘On-Demand Economy’ which analysis discrepancies in the temporary blue-collar staff hiring like cab drivers, delivery staff etc. With the rise of new businesses in the shared economy, this new segment becomes extremely important to highlight the possible risks and makes a strong case towards adopting Blue Collar Staff Screening.
Founder and CEO of AuthBridge, Ajay Trehan commented, “Our Annual Trend Report is the product of analysing the outcome of millions of checks conducted across a year. It drives our objective of being knowledge partners to the corporates, providing them valuable insights around latest data available in India around verification. The latest report, however, should also make businesses in the sharing economy take notice as worrying discrepancy trends have been observed in this fast-growing sector. The sector riding on the back of its customer-facing workforce should draw valuable lessons from this report.”
Listed below are some of the key findings of the report:
1) Age-wise analysis shows high discrepancies across the range of 30-45 years probably indicating higher incentive for candidates in this age-group to fudge credentials for better job opportunities.
2) The higher the number of checks conducted on a single candidate, the higher are the chances of finding a discrepancy. In other words, the more thorough the screening process is, the more effective is the employee risk mitigation strategy
3) At 12.96% and 11.36% respectively, Hospitality/Tourism and Pharma/Biotech, follow BFSI and Private Insurance (14.69%) and Retail (13.57%) to join the list of industries with the highest discrepancy ratios.
4) One the most startling findings came in On-Demand Economy where 35 out of every 1000 candidates screened had lied or misinterpreted credentials. Even more disturbing finding was that 33 out of every 1000 candidates screened had criminal/civil litigation record against them.
5) Under On-Demand Economy, the top 4 cities showing the highest discrepancy trends include Chandigarh at 7.8%, Pune at 7.5%, Delhi at 4.9% and Mumbai at 3.6%.