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.
