Discrepancies in the Telecom, FMCG and Healthcare sector surged in Q4-19 India Trends Report
Bengaluru: Cases of discrepancies in the Telecom, FMCG and Healthcare sector have witnessed a sharp rise in Q4-19 as per the Trends Report released by First Advantage, a leading background screening company in India. The rate of discrepancies increased from 36% to 40% in Telecom sector, FMCG has risen from 13% to 16% and Healthcare industry rates have surged from 13% to 15% in Q4, 2019 in comparison with Q3, 2019 which is a significant rise in comparison to discrepancy rates found in other Industry sectors.
Talent occupies the most important position in any organization no matter what the current economic scenario may be. Irrespective of the continuously changing nature of recruitment process, the need for a good hire is indispensable. There has been a tremendous shift in the mindset of organizations as well as recruiters when it comes to talent today. As organizations have started to capture talent early on, the overall recruitment process cost is even higher and to be cost-efficient in such cases, knowing a candidate’s background becomes all the more important. It helps mitigate risk and saves time and money involved in hiring an inappropriate candidate for the position.
In that context, hiring related discrepancies across Industries reveal the growing emphasis Enterprises are placing in taking informed decisions. In Q4-19, total number of cases verified were highest for the IT sector at 43% followed by Financial Services at 19%. The highest number of discrepancy cases were detected in IT sector at 35% followed by Financial Services at 23%.
The Quarter 4 Trends Report by First Advantage has been able to deliver data which provide insights into cases of inaccuracy witnessed in the hiring process across all industries. This data is alarming and definitely calls for efficient screening practices to assure blot-free recruitment process for all organizations. India being a land of opportunities, but limited resources tend to be inevitably, susceptible to discrepancy cases with all aiming to grab the best. Causes of discrepancies can barely be controlled, however, discrepancy cases can surely be curbed with smarter recruitment systems, planned processes and an unbiased autonomous background screening provider.
“2019 has demonstrated that those wishing to propagate false or misleading credentials are becoming more sophisticated in their approach and methods. We in turn, are evolving our processes and measures to drive detection, sustainability, auditability, and an ethical process. These efforts form the foundation for 2020”, said Ronald Douglas, Chief Operating Officer, First Advantage.
Other findings from the report are – for every 100 cases verified of the male gender – 9 were found to be discrepant as compared to female gender, which stands discrepant at 7% It has also been noted that Karnataka leads discrepancies with 22% cases being reported from the state, followed by Maharashtra with 21%, Andhra Pradesh with 12%, Tamil Nadu with 9%, Uttar Pradesh follows at 5% and New Delhi is at 5%. Surging job opportunities in metropolitan cities are equally matched with sharply rising discrepancies in these cities. Bengaluru, Hyderabad and Mumbai have topped in the discrepancy rate in the 4th Quarter. The discrepancy percentage in the Education component at the Graduate level has increased from 66% in Quarter 3 to 69% in Quarter 4.