Hello Members,

The growing trend of the hiring sector also brings along the hurdle of coping up with smart recruits fudging their CVs. The increasing pace of fake CVs coming in is not only witnessed by the BPO and IT industry but has also spread across banking, insurance, retail and other sectors. According to industry estimates, 10-12% of the recruits submit fake CVs, fake certificates, fake reference letters and overstating skills and experience.

The IT industry spends an average of Rs 25,000 in recruiting a candidate. The average spend on 1,00,000 recruits comes to around Rs 250 crore a year. Overall, for the 2,00,000 jobs in the hot sectors, the industry spends over Rs 400 crore a year in hiring candidates. Many among these who might have forged their documents needs to be replaced by fresh ones, which only add up to the total hiring cost.

On March 22, 2006, Wipro, one of the biggest Indian IT firms sacked 25 employees, the reason not being their performance. Employees had given incorrect information about their work experience. In fact, it was found in some cases, that the employees had shown in their work experience records to have worked with some companies that does not even exist.
IBM has also served notices to a dozen of hiring agents in the country demanding refund of professional fees and service taxes for the years 2003, 2004 and 2005. This follows the Company’s move to sack scores of employees who were found guilty of fudging their CVs.

It is not just IBM and Wipro, but almost all tier I and tier II companies are facing such problems. In fact, all large companies are showing exit doors to many employees on similar grounds.

But the impact surely reflects on the background screening business, which was non-existent till a few years ago, to have now grown to about Rs 75-100 crore a year. Firms like First Advantage, Global Sreening Services, KPMG and Verifacts offer employee background check services.
US firm First Advantage Quest Research receives 45000 employee screening requests a month out of which 35% are only from the IT and BPO industry. A KPMG study on fraud says 15-24% of CVs in India are fake and one out of three CVs misrepresent facts.

So, a sincere request to all the members here is not to get tempted by all these, dear frens. This may lead not only to one losing his job but might also ruin his whole career.

Have a nice day!!

Cheers,
Gayatri

Source: Economic Times

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