It appears that we in the US have exported yet another hot commodity to those in India: Resume Fraud. In a recent article posted on ERE, author Raghav Singh sheds some light on just how rampant this practice has become.
“A recent study by KPMG found that about 60% of employers complain about resume fraud and fake credentials among significant numbers of applicants. Five percent of companies have reported losses exceeding $2 million as a result. The situation is such that many universities are now starting to embed RFID chips in their diplomas to prevent fraud.”
How does this information compare to our numbers in the US? employeescreenIQ research shows that 56% of the verifications that we conduct (employment and education) contain some type of discrepancy between what the applicant reported and what the employer indicated. In a recent survey, we found that nearly 10% of job applicants make false assertions about their academic accomplishments. So to answer the question above about how the findings in India compare to us in the US, the answer is simple: there is no difference.
How do we explain this phenomenon? There are two factors that I believe play into this developing trend in India. First, many people witnessed what career advancement (translation: money and power) could do for their lives. Second, there are more people competing for fewer jobs. What better way to stand out from the crowd by embellishing your credentials.
Just like in the US though, employment screening is becoming mainstream in India today. By exercising proper due diligence through tools like Employment and Education Verifications, organizations can make more informed hiring decisions which will ultimately reduce their exposure to this emerging trend.
