admin, Author at Accuverse

Why you shouldn’t settle for outdated background checks anymore

admin — Mon, 12 Feb 2024 11:55:16 +0000

Why you shouldn't settle for outdated background checks anymore

Tech Powered BGV Changes Everything!

Conventional methods have long hindered companies from realising the ultimate potential of BGV. However, businesses are now refusing to settle. Across industries, a transformative journey is underway. A new era of BGV, marked by heightened efficiency, accuracy, and speed in the screening process. If you’ve yet to embark on this evolution, this material is for you.

In the new normal: Digital transformation propels employee background checks forward. 72% of companies acknowledge that technology assets and tools have made BGV smarter, faster, and significantly more accurate. (Source: Economic Times)

Upgrade to the future.

The global pandemic has introduced uncertainty across sectors, prompting businesses to diligently adapt to the new normal. As the magnitude and depth of frauds expand, there emerges an enhanced focus on redefining human capital risks. Adoption of technological tools will be the game-changer.

According to a global survey, companies worldwide are racing against time, with 68% prioritising speed in screening, and 49% emphasising accuracy. This has fueled the adoption of tech-powered BGV. Companies unapologetically seek higher accuracy, reduced application dropouts, and quicker TATs. Not to forget, compliance.

The transition from slow and clunky traditional manual processes to digital BGV signifies a significant leap in HR. This shift is driven by some alarming statistics: A global study reveals that a 57% surge in discrepancies has been caused due to human error. (Source: Indeed)

Time for robust and automated verification systems is now.

Tech-powered BGV changes everything.

Take this case: Previously, Address Verifications relied heavily on physical checks. It used to be more detective work than BGV. However, a recent breakthrough introduces Digital Address Verification (DAV) solutions as true showstoppers. With DAV, companies can seamlessly verify a candidate’s identity and address in real-time across any part of the country. This process utilises image recognition, GEO-tagging coordinates, and face match technologies, all completely automated, 100% digital, and accessible through a smartphone. This is just one of the many examples.

It’s time to change gears: Accuverse’s Tech-Powered Solutions.

Accuverse harnesses the power of technology for real-time verification, accelerating the process, eliminating human error, ensuring secure data exchange, enhancing the candidate experience, and effortlessly scaling to meet high-volume hiring demands. Clever. Reliable. And breathtakingly fast.

Cherries on top: Not only do you receive real-time results with zero human errors, but you also reduce labour and logistics costs, enhancing operational efficiency. Viola!

Contactless

100% Digital Screenings

Superfast

TAT reduced from months to hours

Accurate

Real-time results with zero human errors

Automated

Streamlined data flow

Integrated

Covers 360-degree business objectives

Secure

Access control, data encryption & full compliance

As the legend goes, there is more to mitigating human capital risks than meets the eye.

While technology has undoubtedly automated processes, the necessity for a reliable partner well-versed in the intricacies of BGV remains paramount for businesses.

Understand this: While technology automates and expedites checks, companies also require a reliable partner capable of conducting holistic business analysis and providing tailored checks for their diverse objectives (dual employment, eligibility for directorship, etc.). Technology alone isn’t enough.

Hence, Accuverse: We go beyond the vendor-client relationship.

At Accuverse, we are led by risk intelligence, cognizance of human capital, and supremacy in technology. Our tech-powered solutions analyse extensive data sets, identify discrepancies, and provide fast real-time results, minimising hiring process duration and ensuring the onboarding of authentic candidates. Additionally, we tailor our screenings to align with your diverse business objectives — the real 360-degree approach. Technology-driven but smarter.

HRs must introspect: As technology becomes accessible to all, the likelihood of discrepancies increases. Combating fraud is a constant challenge. The demand for smart solutions will only grow with increased digital adoption and trends like remote working. Companies have no patience for slow and cumbersome verification processes. They are compelled to resolve tech challenges with tech solutions. Accurate, safe, fast — companies want it all, and they want it promptly.

Upgrade to the future with Accuverse.

Let us assist you in analysing your business objectives and recommending tailored checks.

Get in touch for a seamless transition to advanced, tech-driven solutions.

Download PDF

The post Why you shouldn’t settle for outdated background checks anymore appeared first on Accuverse.

One of the top reasons for IT layoffs? Forged documents.

admin — Thu, 01 Feb 2024 10:15:14 +0000

One of the top reasons for IT layoffs? Forged documents.

Home > Thought Leadership > One of the top reasons for IT layoffs? Forged documents.

One of the top reasons for IT layoffs? Forged documents.

Remote work has revolutionised recruitment. While the paradigm shift has helped businesses increase operational efficiency, it has also opened a new kind of black hole — a new world of deception.

Layoffs in the IT sector surged considerably in 2023. As of December 2023, more than 262,000 people at IT organisations throughout the world have been laid off, spread among more than 1,180 enterprises (Source: Statista).

While analysts blame the layoffs on rising economic uncertainty, data reveal another wolf in sheep’s clothing. Top IT corporations, like Accenture, reportedly sacked several thousand employees in 2023 due to the submission of fake documents. Other firms such as Cognizant also reported an increase in occurrences of candidate deception (Source: The Hindu).

Here’s a biggie: Accenture has issued an alert to job seekers advising them to rethink fraudulent methods. “We have discovered an effort to use documentation and experience letters from fraudulent companies to obtain offers of employment from Accenture in India. We have exited people who we confirmed took advantage of this scheme,” the tech giant said in a statement (Source: Times Now).

The thread where it all begins: A spike in demand during the pandemic may have pushed IT firms and other industries to hire aggressively, with HR departments bypassing candidate credential checks. Are you being lured into hiring demands at the cost of employee verifications? Something to consider. 66% of employers reportedly wait until after making a job offer to conduct a background check. The reason? Why invest resources until the employee is confirmed as a company asset? According to studies, in the majority of such cases, erroneous hires put the organisation’s proprietary processes, sensitive data, and confidential communications at risk, causing internal disarray. Furthermore, the risk of employees fleeing with business assets is not uncommon. In 2021, the average loss per employee theft incident was three times that of shoplifting incidents (Source: Data Prot).

Trouble doesn’t end: Once you’ve recruited someone, you’re subject to a number of formalities, including a notice period, a monthly wage, etc. If the new hire’s BGV results come back negative after joining, the company’s choice to terminate the individual’s employment may interfere with these procedures. Employees are known to slack off, dump work on others, and show disloyalty when their employment is ended prematurely. These are the things that may cause pandemonium.

Hence, pre-employment background checks win.

Learn from the leaders: Accenture says, “We operate under a strict Code of Business Ethics and have zero tolerance for any non-adherence.” Not letting the wrong hire get into the system should be your strategy for 2024.

Help is on the way.

As you look beyond the sluggish ways of verification, you’d find partners that function on experience, insights, and intelligence ahead of our time. Businesses need accurate checks that are technology-backed, come in before you make a decision, and leave no room for errors. Accurate and fast. We’re creating a reliable world where nothing goes unverified. Let’s foster trust in your business.

The post One of the top reasons for IT layoffs? Forged documents. appeared first on Accuverse.

Three overlooked areas of Human Capital Risk Management

admin — Mon, 04 Dec 2023 16:34:27 +0000

A report from The Association of Certified Fraud Examiners unveiled that 21% of defrauded organisations overlooked red flags in candidate background checks due to recruitment pressure, resulting in fraud incidents. Additionally, 33% of companies faced business losses as clients steered clear of associations with firms whose employees had a bad reputation of being involved in compliance issues, moonlighting, false IDs, and the like. (Source: Economic Times)

Companies typically pay between 25% and 250% of an employee’s annual salary in rehiring efforts. On average, losing an employee can cost a company two to five times the employee’s salary. (Source: Built In)

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

In its global CEO survey, PwC reported that 55% of CEOs think that their employees’ “I don’t care” attitude is the biggest threat to their organisation’s growth. As a leader aiming to build great teams, be mindful of creating a culture of trust and responsibility. Anticipate any signs that your employees might be adopting a “them versus you” mindset. Stay attuned to the subtle shifts indicative of a quiet revolution. Catch the signs that your employees may have grown complacent. Prioritise risk management.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

“I used to enjoy coming to work, putting in long hours, competing and helping the organisation succeed. Now, coming into work is increasingly frustrating. It’s hard to trust anyone’s intentions. Very little loyalty is left,” says a Fortune 500 executive. (Source: Forbes).

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

An employee with unverified intentions may be tempted not to go above and beyond for their organisation and lose the sense of accountability, influencing other employees to do the bare minimum, asserting autonomy, and inciting rebellion.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

While industry leaders argue that prioritizing human capital risk management is crucial for sustainable success, some may question its long-term efficacy. Shortsighted businesses may perceive it as a mere trend, a temporary fixation, and adopt it in pieces without truly integrating it into their core strategies. That’s when the wheels fall off.

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

A company is defined by its people, and people are often defined by their resumes, 40% of which could contain false information (Source: Harvard Business Review). That’s why risk management. We shall leave you to introspect. “I used to enjoy coming to work, putting in long hours, competing and helping the organisation succeed. Now, coming into work is increasingly frustrating. It’s hard to trust anyone’s intentions. Very little loyalty is left,” says a Fortune 500 executive. (Source: Forbes).

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

Three overlooked areas of Human Capital Risk Management

Home > Thought Leadership > Three overlooked areas of Human Capital Risk Management

Three overlooked areas of Human Capital Risk Management

There’s more to employee verification than simply hiring good employees.

The unseen: 3 overlooked areas of Human Capital Risk:

Complacency & Quiet Quitting
Employee Turnover & Retention
Frauds & Reputation

Complacency & Quiet Quitting

Merriam-Webster defines complacency as self-satisfaction accompanied by unawareness of actual dangers or deficiencies. In brief, when it comes to workplace safety, complacency is the silent killer.

Employee Turnover

Direct costs incurred due to employee turnover:

Separation costs
Temporary staffing
Replacement costs
Training costs

Indirect costs:

Lost productivity
Coping with vacancy
Learning curve of new employee
Reduced morale
Lost clients
Lost knowledge

Smart are the leaders who are prepared. Reduce employee turnover:

Pre-employment screening
Establish proper benefits and compensation
Review compensation & benefits annually
Foresee employees’ needs
Create a culture of trust .

Frauds & Reputation

The post Three overlooked areas of Human Capital Risk Management appeared first on Accuverse.

5 Reasons Why Accuverse Wins At Providing Accurate Checks At Breakneck Speed

admin — Fri, 10 Nov 2023 09:54:47 +0000

5 Reasons Why Accuverse Wins At Providing Accurate Checks At Breakneck Speed

1. Sluggish Is Not Our Archetype

In the idleness of not adapting — most companies are ignorant about letting technology take over. Verification companies rely on references, municipal records, and gut instinct to uncover a candidate’s past. Ergo, background verification is more detective work than data analysis.

At Accuverse, we have revolutionised recruiting and onboarding across sectors by embracing futuristic processes to mitigate risks in real time. Steady but not slow.

Why this matters: 72% of HRs agree that technology assets and tools have made employee background checks more accurate and faster. (Source: Economic Times)

Our automated processes validate candidate identity through a list of identifiable parameters like IDs issued by the government — combined with technology driven connected systems that verify across thousands of databases simultaneously and give speedy results in no time.

2. The Difference of Common v/s Proprietary Knowledge

What is known to all is as good as known to none. We see what you can’t foresee.

Going beyond common knowledge, we never function in one dimension. Accuverse possesses proprietary technology platforms, designed on our supremacy in risk intelligence and the cognizance of human capital. As a result, we are able to secure your entire business journey — your employees, vendors, partners, merchants, third parties, or any other touchpoint to which your company is exposed.

By customising checks based on your unique business objectives, we protect you from snowballing into problems you never saw coming. Technology driven, but smarter.

3. We Do Not Let Employees Outsmart Verification

In 2014, a Florida based IT Firm was ordered by the court to pay a hefty compensation to a client who sued one of their employees for misconduct during a meeting. Testimony at the trial revealed that the company had failed to conduct background verification on the accused employee, who had been fired from three previous jobs. (Source: SHRM)

Background checks in India have numerous complexities involved. Most databases contain insufficient and poorly composed data. Results are often sent too late when the candidate has already been hired. Companies too are obligated to give them the benefit of the doubt in order to avoid losing good talent.

Accuverse provides checks that are technology backed, come in fast, leave no room for errors, and cover all business aspects. You lay down the law and you get an edge.

4. We Know There’s More To Mitigating Human Capital Risks Than Meets The Eye

The umbrella covering human capital risks is broad. While most verification companies operate on the surface, they fail to anticipate the risks unprecedented.

A fine example: After 2020, sectors like IT, healthcare, pharmaceutical, FMCG, and manufacturing have gone aware of the basic background checks. However, what they couldn’t anticipate is that 51% of employees belonging to these sectors, on average, indulge in moonlighting. (Source: Indeed)

Why it matters: Because there aren’t adequate processes in place to detect moonlighting, businesses fail to mitigate risks such as data protection, employee alienation, low productivity, and revenue loss.

Accuverse has designed its solutions in a way that companies are able to adapt to their employees’ behavioral and moral shifts. Our well rounded background checks help you get more visibility of your people, foresee red flags, and assure compliance. We call it, mitigating human capital risks in more ways than one.

5. Even After All of the Technology Talks, We Are Still Human Oriented People

While our smart processes automate data validation reducing the time spent on human intervention and minimising the risks associated with human oversight — we are not in the race to be the biggest technology enabled company.

We are your risk mitigation partner helping you foster trust in your business by leveraging our deep domain expertise and our genuine value systems. We are good people to work with and experienced, needless to say. We are transparent in our processes and we value your vision to create a safe business for yourself and those who work with you.

As Lawrence Bossidy said — At the end of the day, you bet on people, not on strategies.

Let's make your relationships credible.

Why us? Because we see what you can’t foresee.

Welcome to a reliable world. Where nothing goes unverified.

Please head to the form, it’ll take five minutes to fill

Download PDF

The post 5 Reasons Why Accuverse Wins At Providing Accurate Checks At Breakneck Speed appeared first on Accuverse.

Can employees outsmart background verification?

admin — Wed, 14 Jun 2023 06:00:51 +0000

Employer Disregard: There’s a term for this in the corporate book: Negligent Hiring. In 2014, a Florida based IT Firm was ordered by the court to pay a hefty compensation to a client who sued one of their employees for misconduct during a meeting. Testimony at the trial revealed that the company had failed to conduct background verification on the accused employee, who had been fired from three previous jobs. (Source: SHRM)

Screener Misfeasance: If you approach one of those run-of-the-mill verification companies that rely on tedious, traditional methods of screening, it’s bad news. Screeners sometimes take the easy way out. Preferring profit over precision, they tend to contribute to the numbers of wrongly cleared. In 2020, a high-ranking New York City education official was federally charged with child crime. Even though he had been employed for four years, his background checks had not yet been done. (Source: Live Mint)

HR Burnout: Due to significant employee turnover and low strength, industries such as retail, manufacturing, finance, and BPO frequently bypass background checks. In India, many small and medium-sized businesses are under pressure to fill positions rapidly while ignoring comprehensive investigation.

The Verification Dilemma: For a typical business, touchpoints are many. Most organisations fail to decode the required set of checks for a particular business objective, resulting in discrepancies in one or more points of contact. In 2022, a UK company faced significant monetary loss due to insider fraud committed by one of its employees. While the accused was made to undergo a basic ID verification before hiring, there was no criminal data on him as the checks were requested but languished in a backlog. (Source: Live Mint)

Help is on the way

As you look beyond the sluggish ways of verification, you’d find partners that function on experience, insights, and intelligence ahead of our time. Businesses need accurate checks that are technology backed, come in fast, leave no room for errors, and cover all aspects. Smart, sharp, comprehensive, and futuristic.

We’re creating a reliable world where nothing goes unverified. Let’s foster trust in your business.

The road to risk mitigation goes through knowledge

Home > Thought Leadership > Can employees outsmart background verification?

Can employees outsmart background verification?

4 factors that cause your checks to go futile.

The ability to establish trust in business defines growth today. Given the industry insights, major Indian organisations are hitting a wall when it comes to background verifications. There’s a vision and a showpiece strategy, but a lack of trust to achieve it.

Background checks in India are convoluted because of the various intricacies involved in the process. While more and more companies continue to adopt the ritual, close to one-fourth of Indian businesses slip into misapprehensions regarding their employee data. Results are either too little, poorly drafted, inaccurate or received too late.

4 factors that may be making your background checks pointless:

Help is on the way

As you look beyond the sluggish ways of verification, you’d find partners that function on experience, insights, and intelligence ahead of our time. Businesses need accurate checks that are technology backed, come in fast, leave no room for errors, and cover all aspects. Smart, sharp, comprehensive, and futuristic.

We’re creating a reliable world where nothing goes unverified. Let’s foster trust in your business.

The post Can employees outsmart background verification? appeared first on Accuverse.

WFH is exposing organizations to a new risk of Moonlighting. Know how to mitigate.

admin — Thu, 27 Apr 2023 11:18:28 +0000

The need of the hour is to take the smart route. Companies need to reevaluate their existing policies to safeguard human capital as well as business interests. The primary step is to ensure moonlighting checks to locate dual employment while mitigating concerns such as data privacy, employee alienation, low productivity, and, most crucially, revenue loss.

Explore Accuverse’s technology backed checks for dual employment.

Secondly, there’s a need for companies to adapt to their employees’ behavioral and moral shifts. 43% of employees cite monetary considerations (earning more and leading a better lifestyle) as the reason for adopting the hustle culture. Employees also cite repaying loans (37%) and career growth (29%) as reasons to want to earn more. (Source: Indeed)

An increasing share of employers is willing to renegotiate employment terms and create prior consent agreements to welcome ethical moonlighting as long as it happens within the knowledge and pre set terms:

At the intersection where these facts, lie an organisation’s personal beliefs. Companies, whether in favour or against, must leverage cutting-edge background checks to get more visibility of their people, foresee red flags and assure compliance.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

Moonlighting and quiet quitting: Risks you need to know as an organisation:

Conflicts of interest: An employee involved with more than one organizations may be tempted to prioritize one over the other. It puts the company in a tough spot. Data breaches, productivity loss, and short attention spans are the major tribulations. 21% of employees have been reported to utilise company resources for external interests leading to increased operating expenses.

(Source: Economic Times)

Legal and compliance issues: Traditional contracts often prohibited employees from working for other organizations while employed with a particular company. However, this is the era of loopholes. Study shows that a large share of employees are somehow able to justify dual employment, performing it in the confinements of reasonable restrictions as long as there are no tangible confidentiality breaches involved.

Reputational damage: The most contingent wheel in the argument. Every company’s perspective on moonlighting remains divided. 33% of organisations have reported a loss of business, as clients and customers do not want to be associated with a company that allows its employees to engage in moonlighting.

(Source: Economic Times)

Do companies give in to hustle culture?

Explore Accuverse’s technology backed checks for dual employment.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

The road to risk mitigation goes through knowledge

Home > Thought Leadership > WFH is exposing organizations to a new risk of Moonlighting. Know how to mitigate.

WFH is exposing organizations to a new risk of Moonlighting. Know how to mitigate.

2020 was the banner year for fuelling a paradigm shift in the way people work. Social distancing measures in place, remote work arrangements, and the struggle to maintain business continuity amid all. While this has been a lifeline for many organizations, it has exposed them to a new risk – Moonlighting.

While sectors like healthcare, pharmaceutical, FMCG, and manufacturing echo identical beliefs with 71% of employees on average citing dual employment as “unethical”, the IT sector boldly disagrees. 43% of employees in IT find moonlighting favourable and a response to “burnout and lack of support within the organisation”. (Source: Indeed)

As a human capital risk management company, we have witnessed a surge in the number of cases of double employment since the pandemic began. We have also seen the damage it can cause to organizations that never anticipate it and stay unprepared to deal with this risk. The need of the hour is to take the smart route. Companies need to reevaluate their existing policies to safeguard human capital as well as business interests. The primary step is to ensure moonlighting checks to locate dual employment while mitigating concerns such as data privacy, employee alienation, low productivity, and, most crucially, revenue loss.

Explore Accuverse’s technology backed checks for dual employment.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

(Source: Economic Times)

Do companies give in to hustle culture?

Explore Accuverse’s technology backed checks for dual employment.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

Moonlighting and quiet quitting: Risks you need to know as an organisation:

(Source: Economic Times)

Do companies give in to hustle culture?

Explore Accuverse’s technology backed checks for dual employment.

Critical checks to have control over moonlighting:

Character Reference Check for validation of the candidate’s attitude.
Previous Employment Check for validation of employee’s behaviour.
Credit Check to validate money history, loans, debt & other financial information.
Dual Employment Check to help mitigate compliance issues, conflict of interest, and reputational damage.
Right To Work to verify an individual's eligibility to work.

Trust in the workplace is your competitive advantage. We shall leave you with the thought.

The post WFH is exposing organizations to a new risk of Moonlighting. Know how to mitigate. appeared first on Accuverse.

API: A technology powered solution to mitigate risk

admin — Thu, 07 Oct 2021 14:27:55 +0000

The road to risk mitigation goes through knowledge

Home > Thought Leadership > API: A technology powered solution to mitigate risk

API: A technology powered solution to mitigate risk

Technology powered background checks are revolutionising recruiting and onboarding across sectors. Companies are embracing API to mitigate risks in real time. The progress is steady but not slow.

In the new normal: Digital transformation drives employee background checks. 72% of HRs say that the use of technology assets and tools has made employee background checks more accurate and faster. (Source: Economic Times)

What are APIs and how they facilitate verification

Speed: APIs can automate the exchange of information between systems, reducing the time spent in human intervention and manual data entry.
Accuracy: By automating data validation and error checking, the risks associated with human oversight are nullified.
Security: APIs allow secure, encrypted data exchange between systems. Hence, reduced risk of data breaches and unauthorized access to sensitive information.
Improved candidate experience:As the verification process is streamlined, it speeds up candidate onboarding, reducing the time and effort required for candidates to reiterate the necessary information.
Scalability: API-based background verification can be easily scaled to handle large volumes of checks, making it an ideal solution for organizations with high-volume hiring needs.

Fad or future: You sure do get real-time results with zero human errors, lower labour and logistics costs, and better operational efficiency. However, there is much more to mitigating human capital risks than meets the eye. A fine example, APIs can often function in one dimension. Someone must effectively filter the search when it comes to various business objectives (dual employment, eligibility for directorship, etc.). Technology alone is not enough.

At Accuverse, we are led by risk intelligence, cognizance of human capital, and supremacy in technology. We extend claim validation to your various business objectives. Technology driven but smarter.

The umbrella covering human capital risks is broad. Businesses that know how to shield themselves from snowballing into bigger problems scale.

The post API: A technology powered solution to mitigate risk appeared first on Accuverse.