Whether you can count your recruitment experiences on one hand or have devoted your career to finding the perfect candidates, chances are you’re being deceived and your company is going to pay the price.
Check out this sobering statistic uncovered by recent research from CV-Library:
While it can be expected that some candidates may over-embellish when describing their work history, were you aware that 71.6% of Brits secured their job by lying during the recruitment process? This would suggest that many newly filled roles are held together by little more than an active imagination and questionable morals (90.5% of workers also believe it’s wrong to lie to potential employers). Furthermore, 82.2% admit that they worry struggling in their new role as a result of their lies – more bad news for employers.
What is the real cost of a bad hire?
As explained by REC, The costs of a bad hire can have a severe effect on company finances and the rest of the workforce:
- Bad hires at a mid-manager level can cost a business upwards of £132,000.
- Wasted investment on training
- Lost productivity
- Increased staff turnover
Chief Executive of REC, Kevin Green, summed it up: “employers are completely underestimating the financial impact of getting recruitment wrong, and not learning how to improve”
So with margins tight, why go into recruitment blindfolded if every other business decision is scrutinised? After all, the damaging effect of misinformation is the same.
The solution is simple, every hire needs to be screened regardless of their role.
Screening has often meant shelling out to expensive outsourcing companies and relinquishing visibility of vetting progress, leaving employers and candidates in the dark. Alternatively, other companies have decided to keep their screening process inhouse, dedicating countless man-hours to data entry and chasing references.
If neither of these options suit your business, automation is the key to reinstalling confidence in your recruitment process and minimising potential business risk.
Combine the best of both worlds with MSite® Reference Check software, providing fast, seamless onboarding and vetting of employees, candidates and subcontractors.
- Users upload their own details
- Automatic reference requesting and prompts
- Automatic address and background check requests from third parties
- Full visibility of progress levels for both employer and candidate
- Full integration with our other MSite workforce management products: Access & Attendance, ID Check and Online Inductions & Training.
Download our free MSite Reference Check PDF for more information.