With the unemployment rate at 8.6% in November 2011, many prospective employees are “beefing up” their resumes. Much news has been made over the years about truth in advertising, but little emphasis has been placed on truth in hiring.
The Society for Human Resource Management states 45% of all resumes contain one major fabrication, while The Wall Street Journal reports that 34% of all job applications contain lies regarding experience, education and the ability to perform essential job functions.
Padded resumes can hit a company hard. According to the Department of Commerce, 30% of business failures are due to poor hiring practices. Many companies simply try to get a “warm body in the seat,” but don’t realize that replacing an employee costs an average of one-and-a-half times the annual salary of the position, Rutgers University research reveals.
Now, more so than ever, employers are vetting resumes to increase the odds of hiring an “A” player. Many are moving from tactical employment verifications that simply confirm dates of employment, position, salary and rehire status to more strategic verifications that add previous supervisor/manager interviews to the report.
Using this approach, HR professionals further help protect against negligent hiring, while learning factual information about how the applicant performed on the job. This often leads to insights otherwise left unknown prior to selection.
At Aurico, our in-depth employment verifications are a two-step process that include both tactical and strategic verification, enabling our clients to gain the most comprehensive insight into an applicant’s past performance and future potential.
Learn more about our in-depth employment verifications: http://www.aurico.com/Background_Screening/Employment_Education_License.asp
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