Just 26 percent of recruitment and head hunting firms use business intelligence and credit checking solutions to establish if claims on candidates’ Curriculum Vitaes (CVs) are accurate.
Firms that do use these solutions identify candidates applying for positions as Chief Marketing Officers (CMOs) and Heads of Sales as the most likely to have significant discrepancies between claims on their CVs and business performance. Just 12% of head hunting firms are using business intelligence solutions to identify potential candidates. New research from Creditsafe, reveals that just a quarter (26%) of UK based head hunters and recruitment companies are looking to verify claims made in candidate’s CVs by making use of business intelligence solutions. Several of the firms surveyed claimed it was “the clients’ responsibility to run checks” on candidates CVs, despite the availability of online tools to enable them to check dates of company directorships held and executive impact on business performance. Creditsafe’s research reveals that when checks have been completed to establish the veracity of claims made on CVs, Chief Marketing Officers (CMOs) and Heads of Sales are the candidates most frequently exposed as having significant discrepancies between stated employment history and achievements in the boardroom and their objectively verifiable business performance. This was followed in turn by Chief Executive Officers and Chief Financial Officers.
Where head hunters and recruiters have used business intelligence services they have exposed fraudulent claims made by potential candidates including at C-suite, board level, regarding their claims in relation to driving company performance. One recruiter specialising in procurement and supply chain management found a candidate who claimed to manage a budget higher than the turnover of the entire company. A London based recruitment agency exposed a candidate applying for a CMO position as an identity fraudster after their claims to be a Company Director couldn’t be verified. Chris Robertson, UK Managing Director Creditsafe said: “Recruiters and head hunters can use business intelligence solutions to efficiently add value to their proposition, both identifying and qualifying candidates they put forward for positions. These tools can be effectively used by recruiters and head hunters to identify potential candidates at board level, operating in fast growing, successful companies, selected on the basis of the organisation’s sector of operation and geography.”
“Business intelligence solutions have been traditionally used by accounting and credit management departments to minimise the risk of trading with an enterprise at risk of becoming insolvent. However, these solutions can also be used to effectively analyse broader company trends such as growth in profit and turnover, crucial when reviewing performance claims made by C-suite executives. These tools can be used to track company directorships and for candidate verification, to guard against identity fraud. The democratisation of business intelligence solutions, where access is given to all frontline employees, is paying significant dividends for forward thinking companies in the recruitment industry. The research reveals just 12% of head hunting firms are currently using business intelligence solutions to identify potential candidates to target on behalf of clients’ businesses. Sophisticated use of these tools enables firms to identify potential candidates within successful businesses, such as pin pointing CEOs who are overseeing firms in specific markets that are growing at an exponential rate compared to their peers.