
Background Verification (BGV): A Mandatory Step in Any Organization Today


Background Verification (BGV) is a mandatory step in any organization today. Checks on education, employment, any open litigation against the person, addresses and so on, get verified as a part of this. Organizations invest in background verifications and typically have a zero tolerance policy towards any BGV, where fake documents, certificates
and others are produced by the new joiner.
Most organizations employ third-party BGV vendors who get these checks done for them. In fact, global organizations also insist on their contract staff to be BGV compliant. BGV is a way to mitigate any future risks by checking past records. Integrity & transparency is the key to getting that dream job and retaining it too. "It is important that we verify the skilled & unskilled employees, including those on contract, of any organization. They could be janitors to CEOs - vet them all to be safe," says Sivasubramanian Venkatasubramanian, Head - Compliance, Fujitsu India.
According to a report published by AuthBridge, one of the background verification companies in India, the discrepancies in BGV increased to a whopping 15.21 percent in FY 2017-18, which is quite a jump from 10.29 percent in FY 2014-15. Considering the current news, media & social media sensationalism, even a single employee who is either malicious or corrupt or criminal could lead to severe and irreparable brand damage. Needless to say, it is also a cause for financial loss.
So what are the BGV checks done?
• Identity check, wherein a candidate's identity is verified
• Education check
• Any past criminal records of the candidate is verified too
• Financial check, which is mainly done in Banking & Financial sector point to any debt that the candidate might have accumulated that might lead to him/her embezzling funds or commit fraud
• Past work history check is done to see if the candidate has really worked in the organizations as claimed in his resume and if his work history is legit.
With the current digital world, BGV processes have also upped their game. Intelligent screening solutions have led to an efficient & faster way of closing BGVs and more & more organizations are looking at comprehensive BGV checks for their employees in an effort to mitigate risk.
Ranjith, a retired government employee, was trying to look for an alliance for his daughter. He went with an alliance from an IT major, since he felt confident about their BGV/vetting process. During their daughter's wedding reception, he met the HR of the groom's organization and said, `You made my job quite easy,' and they exchanged a hearty laugh.
Most organizations employ third-party BGV vendors who get these checks done for them. In fact, global organizations also insist on their contract staff to be BGV compliant. BGV is a way to mitigate any future risks by checking past records. Integrity & transparency is the key to getting that dream job and retaining it too. "It is important that we verify the skilled & unskilled employees, including those on contract, of any organization. They could be janitors to CEOs - vet them all to be safe," says Sivasubramanian Venkatasubramanian, Head - Compliance, Fujitsu India.
According to a report published by AuthBridge, one of the background verification companies in India, the discrepancies in BGV increased to a whopping 15.21 percent in FY 2017-18, which is quite a jump from 10.29 percent in FY 2014-15. Considering the current news, media & social media sensationalism, even a single employee who is either malicious or corrupt or criminal could lead to severe and irreparable brand damage. Needless to say, it is also a cause for financial loss.
So what are the BGV checks done?
• Identity check, wherein a candidate's identity is verified
• Education check
• Any past criminal records of the candidate is verified too
• Financial check, which is mainly done in Banking & Financial sector point to any debt that the candidate might have accumulated that might lead to him/her embezzling funds or commit fraud
• Past work history check is done to see if the candidate has really worked in the organizations as claimed in his resume and if his work history is legit.
With the current digital world, BGV processes have also upped their game. Intelligent screening solutions have led to an efficient & faster way of closing BGVs and more & more organizations are looking at comprehensive BGV checks for their employees in an effort to mitigate risk.
Ranjith, a retired government employee, was trying to look for an alliance for his daughter. He went with an alliance from an IT major, since he felt confident about their BGV/vetting process. During their daughter's wedding reception, he met the HR of the groom's organization and said, `You made my job quite easy,' and they exchanged a hearty laugh.