Background Verification Process in MNCs

Building a futuristic career is a big dream of every professional. Lucky are those who get placed in the top MNCs of the world. But do you think that your journey to becoming an employee in a fortune company is as easy as a pie? No, to be a part of an MNC, aspirants must study hard and harness their professional and personal skills even at the time of their study. Once you become the cream of the crop, you try becoming an MNC professional. Every MNC offers its employees outstanding career growth and world-class facilities to make their living exceptional. But when it comes to hiring aspirants, MNCs take their own time to study each prospect – their previous employment details, digital footprints, criminal offense history, etc. Unlike Multinational Companies, Small and Medium-scale Enterprises fail six times more to check the background details of their candidates, according to a recent study. This study also points to the fact that Small and Medium-sized Employers hire wrong candidates who add fake various parameters like academic, professional, and personal qualifications and skills; and the rate of hiring fraudulent candidates is 50% more than the large scale companies. Do you know that the candidates belonging to the age group 35 – 45 are found guilty of faking their resumes the most? In small firms, the rate of discrepancy is found to be 9.28 percent, whereas in large scale companies the rate is 6.20, a considerable difference in the rate. The reason behind such a big difference is that MNCs adopt stringent and detailed employee background verification processes based on the requirements of the employers, background screening companies like Millow perform different types of employee background verifications. The scope of the verification process is defined by the client, here the employer.

Why Do MNCs Worldwide perform Advanced Employee Verification Checks?

We are living in a technologically advanced and information-rich digital age. Corresponding to the increase of the advancement in technology, there is an equally growing concern on data security and information hacking. This means, the age has witnessed a rapid increase in fraudulent activities with the help of top-notch digital technologies, which sometimes possess a serious threat to the lives of people all over the world. As MNCs are involved in mission-critical projects that can have serious global impacts, they scrutinize the background of each and every candidate, whom they select for accomplishing such tasks. To put it simple - Candidates who fake their details, compelled by their ill-motives and have a bad history of indulging in criminal offenses can seriously affect the security of the workplaces and are to be eliminated - if possible, they must be brought under the law. The first and best method to avoid bad hiring is to adhere to the latest Employee Background Verification Services. Any type of bad hiring decision results in the compromise of workplace safety and employee/ asset security. MNCs are fortune companies having multiple branches in various parts of the world. Such companies need professionals who are experts in their respective fields and must have good qualities and character traits that make them stand out in the crowd. They will be responsible to carry out crucial tasks and must have the ability to cooperate with influential people in International business with smartness, honesty, and reliability. If the candidates employed by the MNCs have misrepresented their qualifications and skills, it affects their integrity and reputation. Not Just Blind Hires, But the Intelligent Ones - As one of the leading background verification companies , We have an intelligent team capable of delivering top-notch employee background screening services that leverage the potential of the most modern technologies to verify the authenticity of the information submitted by their prospects.

Background Verification Process

How is Employee Background Verification Done in MNCs?

Multinational companies and most of the companies registered under Nasscom conduct employee background checks before offering job opportunities to their candidates. From criminal offense history checking to inspect the authenticity of the personal and professional information and the inspection of the past financial fraudulent activities, everything is covered under the MNC Employee Background Screening process. Many people had noticed that the entire recruitment and hiring process of an MNC is comparatively slower than SMEs. The main reason behind this delay is because large scale companies invest their money, time, and resources in determining the credibility of the details submitted by the job aspirants. At Millow, we follow a set of step by step mandatory procedures to perform an in-depth and thorough Employee background checking procedure for MNCs as follows:

1. We study and define the scope of the inspection.
2. We formulate an efficient and dedicated team of eminent examiners.
3. We divide the team based on various parameters – Education, Employment, Criminal/ Sex Offenses, Financial, Character, Social media Presence, Personal, etc.
4. We work in collaboration with reliable authorities to bring multinational record coverage.
5. Various departments work together to form a centralized inspection procedure
6. Prepare and submit a scientific and flawless report based on the requirements.

No wonder that in Multinational companies the rate of discrepancies is lower when compared with companies hiring candidates in low volumes.

Discrepancy Fact Checks & Comparisons: Multinational Companies vs. Small Medium-scale Enterprises

Although the rate of discrepancies is reducing with each passing year, there exists a big percentage of people who lie in their resumes and hide their record of violent/ criminal and fraudulent activities just to get recruited in top MNCs.

• The percentage of candidates faking their resumes had fallen from 7.5% to 6.8%. In the year 2016, it was 7.5% and it became 6.8% in 2018.
• In India, compared to other parts of the country, most discrepancies happen in North India with Chandigarh being the Indian city where the maximum number of people is involved in     preparing embellished certificates. Chandigarh records 7.8% of the total cases, followed by Pune with 7.5%.
• The work-related disparity between or faking past employment experience is 23 percent higher in Small scale Industries when compared with MNCs.
• SMEs report double the number of candidates who fail drug tests than the MNCs.