By Aashish Singh
Recently we heard a news from a microfinance Institute which has decided to screen all its Salesforce for background verification after receiving a lot of complaints of mis-selling from its rural customers. Microfinance industry employees around 80,000 to 85000 employees and was one of the sector which did not consider background verification of employees as an important factor for their recruitment process.
Finding a aspirational job with the employer of your choice should be made easy. Similarly, finding the top talent should be quick and secure. However, in reality it is demanding , expensive and time consuming.
We believe that having the credentials of an individual’s resume pre-verified by educational institutes or accreditors and former employers will be of enormous advantage to both the candidate as well as the Employers.
Such conditions are emerging in various industries and employers across sectors are choosing to go in for background verification, as per our recent survey that was carried out by Reuters, the background verification industry is going to touch 4 billion dollar mark by 2022.
The scope for utilising the latest technologies is immense and a lot of technologies can be used for this purpose, Quinfy has taken a step towards utilising blockchain as the technology to develop its platform simply because of its security features and concept of distributed ledger. Use of Technology is going to be the key as the turnaround time, security of data and accuracy is going to be very important with the fight for talent increasing on a regular basis the need to hire the right candidate in right time is the call of the day.
The concept just-in-time talent is very popular with all fast growing organizations. When we talk about just in time talent we must have their complete background verification done with lightning speed, so that the talent can be on on-boarded on time. This is where the technology will come into focus. With more candidates and clients getting onboarding on the platform the maturity of data will increase.
Quinfy is going to provide a very interesting concept known as ‘continuous background verification’ wherein once the candidate is registered in the platform, his/her entire career path can be tracked and stored on the platform itself, so whenever there is a transaction in the job only thing is required is a finance check, civil check and the latest employment. This is going to have a ripple effect on the organizations employee experience score. Let me explain this in detail, the employee will give a correct feedback about the reasons for exit since they know that now the reasons are saved on the platform and no tampering is possible, so they will voice their true opinion which can be used to improve the workplace in-turn the employee experience.
It has been a practice that the background verification is the responsibility of an employer. Quinfy is trying to change this concept and ensure that the employee becomes responsible for the background verification as he/she is responsible for their career.
Various kinds of background verification are being carried out these days, most commonly being the education, employment and criminal check. Some organizations also go for financial checks, social checks as well as drug test. Another concern that is also getting addressed is the concept of Personal information privacy as the candidate now is sharing the information and asking the BV companies to carry out the background verification.
Quinfy will be one such global platform wherein you will be able to pick and choose the kind of background verification you want for your employees The Suite is going to be of essence and security of Paramount importance. This is a sincere attempt to bring the employer, the candidate and the background verification Agencies together.
We are leveraging the technology to provide Global clients with the best of background verification solutions and providing them a service that will help then in retaining the right candidate and mitigating the risk that might arise due to the wrong talent hired.