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Recently a microfinance institution (MFI) based in Andhra Pradesh decided to run background checks on its sales workforce. The reason for the sudden decision you would ask? Complaints of misselling from its rural customer base. The institution then decided to run employment checks on all its sales employees.
Now, whatís interesting to note is that, the MFI industry, with a strength of over 80,000 employees, is one of those sectors that has never considered background checks necessary and neither have they incorporated it in their recruitment process. Whatís surprising is that the employees in this sector deal with a lot of cash and big money. Despite the money handling aspect of their job, the top bosses of this industry never found it necessary to screen its employees.
Even cash-handling employees were not screened. It took a host of complaints to surface, for them to take background screening seriously. Ideally, any employee handling cash or matter related to it should be screened multiple times for any fraudulent activity, in the past and present.
Sectors like, BFSI, retail and IT have been using background screening for years now to weed out unwanted elements. Lately, even start-ups have realized the importance and merit of checking up on their employees. Background verification has emerged as a prerequisite for every new and existing company or institution that is being set up. However, studies show that the degree of implementation may not be uniform.
Now, for those who are new to the concept of background verification. Background verification is a comprehensive check of a person or groupís financial, criminal and social history. The results of the check are used by potential employers to make decisions on whether or not the candidate should be hired and their suitability for the position. This form of pre-employment screening is especially useful in the case of jobs or positions that require a high level of trust in the candidate.
Security is a vital aspect for any organization. Especially, with more and more setups getting bogged down by frauds caused by employees with fake credentials, managing to slip out from ineffective systems. Managers are now turning to background verification to weed out the bad fish.
Corporates are now making it mandatory for all new candidates to be subjected to a detailed background check. All applicants are notified of these checks in their offer letter and acceptance of their candidature is subject to a clean chit post the completion of the verification process.
Having said this, Team JantaKhoj Infoservices urges you, to move forward wisely, incorporating a robust background screening system and choosing a reputed and trustworthy verification partner to collaborate with, ensuring that your employee screening program moves ahead successfully and smoothly.
Whether you are considering employee background verification for the first time or you want to revamp your existing process, we look forward to partnering with you.
Please feel free to reach out to us.
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