BWI: Industry Leaders Discuss Background Screening at NASSCOM HR Summit2012

Press release from Business Wire India
Source: First Advantage Private Limited
Wednesday, August 01, 2012 11:10 AM IST (05:40 AM GMT)
Editors: General: People; Business: Business services, Information technology; Technology
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Industry Leaders Discuss Background Screening at NASSCOM HR Summit2012
"Panel discussion on minimizing human capital risk in recruitment"

Bangalore, Karnataka, India, Wednesday, August 01, 2012 -- (Business Wire India) -- First Advantage, a Symphony Technology Group (STG) company and a leading provider of talent acquisition and electronic data solutions in collaboration with NASSCOM hosted a panel discussion on 'Minimizing Human Capital risk in recruitment - preventing fraud when hiring employees' at the recently held NASSCOM HR Summit in Chennai.

The panel discussion focused on understanding the verification industry, the trends in the industry and discrepancies across employment, education, other areas and mitigating the risks associated to Human Capital Management. People make or break organizations and are the backbone to everything that constitutes the business. With fraudulent practices and white collar crimes rising steeply across industries, it has become the need of the hour to hire and retain the right people.

With suspect companies providing fake employment letters and discredited universities dispensing degrees, more stringent checks need to be in place to prevent fraud. Simple measures like putting employees through a thorough background check can mitigate the risk to a large extent. Screening acts as insurance and helps protect customers, employees, information, and the workplace. Managing Human Capital Risk also helps safeguard the brand of an organization. The implications of the risk can be substantial, from a hit to the revenue to a massive hit to the brand. Recent cases have made headlines in relation to employment fraud like the debacle of an online giant, with a discrepancy in the information provided by a CXO level employee.

The panel discussed that companies do talk about growth in recruitment fraud, but the talks are a small proportion and are not part of the bigger picture of hiring. And given the hiring imperative in the sector, there is a huge opportunity cost to not having people on board fast enough. They raised concerns on the fact that whether the economics really justify a lot of time and cost being spent on addressing the issue of recruitment fraud.While the industry talks of the importance of tackling and minimizing recruitment fraud, the metrics and incentives attached to recruitment continue to focus on volumes and time and do not address this element.

In principle, the panelists agreed upon the investment and value in background screening, not just to mitigate the risk but also to address the growing discrepancy in India with respect to faking resume details. If not managed, this has the potential to undermine India's reputation in the global landscape. The highlight was on more that needs to be done to strengthen focus on the issueat all levels, including not just recruiters and vendors but also business leaders and hiring managers. Panelists also discussed building and leveraging the National Skills Registry (NSR), set up to help address many issues related to recruitment fraud.

The panel included C Mahalingam, EVP & Global Chief People Officer, Symphony Services Corporation; Dr. Manoj Vaish, CEO, NSDL; Gaurav Ahluwalia, Managing Director - HR, J P Morgan;Priyanka Anand, Vice President - HR & Organization, Ericsson and Richard Lobo, AVP - HR, Infosys. It was moderated by Padmaja Alaganandan, ED, People and Change, PwC and was anchored by Navin Chugh, MD India and SVP International, First Advantage.

About First Advantage

First Advantage combines domain expertise, technology solutions and data to create proprietary products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of talent acquisition solutions including employment background screening, occupational health services, recruiting solutions, skills and behavioral assessments and business tax consulting services. First Advantage is headquartered in St. Petersburg, FL and has offices throughout North America, Europe and Asia. First Advantage in India is headquartered in Bengaluru. More information about First Advantage can be found at www.fadv.com

About NASSCOM

NASSCOM® is the premier trade body of the IT-BPO industries in India. It is a global trade body with more than 1200 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member companies are in the business of IT services, BPO, Engineering design, products, internet and e-commerce and animation and gaming. NASSCOM's membership base constitutes over 95% of the industry revenues in India and employs over 2.5 million professionals.

NASSCOM's member and associate member organizations are broadly in the business of software development, software services, software products, consulting services, BPO services, ecommerce and web services, ER&D off shoring and animation and gaming. NASSCOM's membership base accounts for over 95 per cent of IT-BPO industry revenues in India and employs over 2 million professionals.

NASSCOM was set up in 1988, as a not-for-profit organization, registered under the Indian Societies Act, 1860. Currently, NASSCOM is headquartered in New Delhi, India, with regional offices in the cities of Bangalore, Chennai, Hyderabad, Kolkata, Mumbai and Pune.

In India and around the world, NASSCOM members are active participants in the new global economy and reputed for their innovative business practices, social initiatives and thrust into new emerging opportunity areas.

Vision - To be the most effective and engaging global trade organization built on trust and credibility.

Aims and objectives

NASSCOM aims to drive the overall growth of the technology and services market and maintain India's leadership position, by taking up the role of a strategic advisor to the industry. NASSCOM's varied strengths include advocacy on public policy, international trade development, research and market intelligence services, and access to an international network through 50 MoU's and linkages with 40 industry associations across the globe. This enables NASSCOM to advise members - both established and emerging organizations on how to enhance growth.

Other goals include accelerating trade development efforts, improving talent supply, strengthening local infrastructure, building partnerships and driving operational excellence. NASSCOM is also helping catalyze the process of innovation, IT workforce development and enhancing data security.



CONTACT DETAILS
Shreya Krishnan, Sr. Manager, Marketing and Communications, First Advantage, +91 (80) 42529428, shreya.krishnan@fadv.com
Namrata Agrawal, Sr. Account Executive, 20:20 MSL, +91 78291 21121, namrata.agrawal@2020msl.com

KEYWORDS
PEOPLE, BUSINESS SERVICES, IT, TECHNOLOGY

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