Agenda Reality check Who are you hiring Primary Source Verification Facts How PSV helps communities Conclusion

The growth of your organization is not the markets, technology, competition or products. It is one thing above all; the ability to get and keep the right people (Jim collins,Good to Great)

Reality Check

Who Are You Hiring? You might feel confident about your new hire, but occupational fraud also known as employment fraud is very real and employees often pose the greatest fraud threat Imagine hiring an individual with impeccable credentials only to find out he/she has presented forged documents FACTS: – Over 40% of job applicants lie on their resume (Forbes, 2006) – 53% of resumes and job applications contain falsifications (Statistic brain,2012) – Hiring the wrong person can cost the company from 30% to 200% of a person’s annual salary ( Human resources magazine) – Diploma mills: Statistics of 2011 show that USA has 1008 diploma mills, UK has 339 and rest of Europe 245 known bogus degree suppliers ( Accredibase2011)

Approximately 6% of criminal background checks revealed a criminal record within the last seven years- with 24% of those having two or more adverse records (The Use of Criminal Background Checks in Hiring Decisions,2012)

What is Primary Source Verification PSV is the act of obtaining the applicant's credentials directly from the original or primary source. Verification of educational programs, exams, licenses and work qualifications for the application process all must be received from the primary source All verifications happen with the consent of the candidates

Scale of the problem The global ratio for forged documents is between 1% to 2% PSV programs has revealed the ratio of forged documents at 6% in countries currently using the service Candidates involved in discrepancy tend to pose a greater legal, compliance, reputational and security risk to organizations

Value of PSV Background checks can reduce your business risk of falling victim to resume fraud, occupational fraud and the big costs associated with bad hire Safeguard your health care system with informed decisions and provide optimal healthcare services Hire the right health care practitioners Improve quality of care and reduce medical errors Raise the bar for health care sector efficiency and patient safety Reduce administrative costs

How PSV Helps Communities The success of your organization depends on the integrity of your people – Save hiring cost – Increase employee productivity – Help remove illegitimate employees – Avoid conflict and corporate fraud – Avoid theft, harassment and any negative atmosphere that might affect employees’ efficiency The human factor is the common element in most risk and crisis scenarios 9 out of 10 risks or security problems are caused by people inside your organization Your data and communication is at risk from your fraud employees

Interesting Facts Research estimated that the typical organization loses 5% of it revenues to fraud each year and the average loss caused by occupational fraud is $140,000 annually The frauds reported lasted a median of 18 months before being detected The industries most commonly victimized in the study were healthcare, banking and financial services, government and public administration, and manufacturing sectors Most occupational fraudsters are first-time offenders with clean employment histories Nearly half of victim organizations do not recover any losses that they suffer due to fraud.

Yahoo CEO Scott Thompson got FIRED in 2012 after it was found he padded his resume with an embellished college degree, ending his term at the company after just four months

With verification services applied in Qatar among healthcare professionals, the percentage of fake and forged documents has dropped from 16% to 4% in one year 30,000 applicants withdrew their applications in Saudi Arabia when PSV was officially implemented

Conclusion Screening employees provides businesses with the opportunity to ensure that the claims the candidate makes are truthful Background checks helps you avoid occupational fraud A sufficient screening process can uncover misrepresentations made by the applicant during the hiring process Primary source verification can also help you find top talent by screening out unqualified and untrustworthy candidates

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