Sunday, February 22, 2015

The High Cost of Resume Lies

Do you know what Resume Lies actually cost Employers?
Anyone who has ever read our blog knows the importance we place on resume verificationWe believe it is always in your best interest to hire with eyes wide open, and we have shared tips that will help you accomplish this.  
We have also suggested that if looking for a job, you would do well to make sure your resume is “background check ready”. This not only puts you in a good light with a future employer, but makes the entire process much easier. You can find tips to help you do this here.

The simple truth is, people do lie on their resumes. And the goal of any good background check is to uncover those lies and allow you to go into the hiring process as informed as possible.

Discover How Background Checks can Help You!

Resume Lies Cost Small Business Big Money!  "Tweet This"!

But while we have mentioned the financial strain that results from making a bad hire before, especially on a small business, this number really opened our eyes!

It is estimated that resume fraud costs employers approximately $600 billion annually. (The Greater Lansing Business Monthly)

Yes that is $600 BILLION!  
This figure covers the increased time needed to screen resumes to verify applicant’s claims.

There is also the high cost associated with hiring, training, and replacing employees that are later found out to lack the skills or education necessary to do the job.

It is estimated that this can cost more than that employee’s yearly salary. And this can hit small businesses especially hard. Many struggle to cover the time and money wasted.  

With 53% of resumes and applications containing lies of some kind, it is clear that the cost of resume lies comes high!

In addition to the money and time spent on screening, fabricated resumes can also present very real and serious legal issues to employers. If your company hires someone who is not fit for the job, whether that is because they are unqualified or unsafe, it opens you up to negligent hiring lawsuits.

It becomes even more serious if someone is harmed due to that hire - whether that is another employee or a customer.

While it is possible that you may be able to sue the person who lied, that is not always a slam dunk.  You have to prove that their lie harmed your business and that there was no way you could have known they lied before you hired them.

Your best defense is a good offense! You need to do all you can to verify resume claims before you make the hire.

These 3 Tips Will Help:
  • Early in the Hiring Process: Take note of any possible “red flags” in an applicant’s resume. Spend the time needed to verify these before you interview, and even question the applicant if you need more clarity. Be sure to verify all academic degrees or skills claimed by the applicant.
  • After Making a Conditional Offer of Employment: Do a thorough Background Check. Verify anything left hanging from your initial screening, along with a criminal record check.  It is also important that you make the applicant aware (in writing) that resume fraud is grounds for withdrawing any job offer and for firing even after you hire.
  • After Hiring: Be Ready to fire an existing employee for resume fraud. If you uncover that your employee lied, you need to consider the following; if their lie results in them no longer being qualified for their position, if their lie effects your ability to trust them, and if you consider their lie a breach of honesty.
Small businesses need to protect their integrity and their brand. It takes time to build trust in the products and services you provide. But very little time to lose it.

Hiring anyone who has shown a penchant for lying, does not bode well. Lying to get the job may just be the beginning. Will you be able to trust that they are not lying to your customers, their fellow employees, or you in the future?

It is in your best interest to make your position on honesty completely clearIt speaks to your business ethics and is a great foundation for how you expect your company to operate ~ beginning with you and continuing on to your employees.
Hiring an employee that is dishonest is a costly mistake, especially for Small Businesses. You and your company deserve more!

Authored by   

Want to make sure your company is protected from these High Cost Resume Lies?  

We can Help You Hire Safely!

We can help you develop the hiring practices you need for success! Discover more About Us too!

No comments:

Post a Comment

Thanks for visiting our website. Contact Us! We can answer your questions and offer you a consultation on how we can help You with your Hiring, Business, and Security Needs!

We also invite you to Subscribe. Just leave your email and you will get one new article each month with tips and information focused on You and Your Business!