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Background Check Failure Rate Doubles in Two Years

Core-Asset Consulting - 27-Nov-2018

EDINBURGH, Scotland, 27 November 2018 – The proportion of applicants failing employment background checks has nearly doubled since 2015, according to research by Core-Asset Verify, a leading provider of vetting and contract services for Scotland’s financial sector.

Based on data from a sample of over 400 checks carried out across 2017 and 2018, the data shows:

  • 19% of applicants failed outright with major issues (2015: 10%)
  • 28% passed, but with some minor issues (2015: 34%)
  • Only 53% of applicants passed with no concerns (2015: 56%) 

The top five reasons for outright vetting failures in 2017 and 2018 were:

  • Discrepancies in qualifications relating to an award or grade – 34%
  • Discrepancies in employment dates and/or job titles – 25%
  • Unverifiable employment gaps of over three months – 22%
  • Unpaid County Court Judgements or Sheriff Court Decrees – 14%
  • Non-disclosed criminal convictions – 5% 

Commenting on the research, Mike Stirton, Director of Core-Asset Verify, said:

“It has to be a concern for both employers and applicants that the number of background check failures have risen so much. There are two main reasons for this.

“First, employers in general are becoming more stringent in the types and number of screening checks they want carried out. Many companies have recognised the damage that can be done – both financially and reputationally – if they make the wrong hires.

“This is especially the case across financial services, where the introduction of the Senior Managers and Certification Regime has increased the need for more enhanced criminal checks and regulatory referencing.

“Second – and perhaps most concerning – there appears to be growing mindset among applicants that it is acceptable to fabricate certain parts of their CV in order to impress employers and increase their chances of securing a job offer.

“This data, however, highlights the risks applicants are taking by lying or providing misleading information on CVs. The chances of being caught have increased. Being honest in your application is more important than ever.”

ENDS

About Core-Asset Verify
Core-Asset Verify, a division of Core-Asset Consulting, is a vetting and contract service provider offering the highest levels of expertise and engagement at its heart. Unique within the Scottish financial sector, it offers a powerful combination of vetting, contract management, payroll and aftercare services.
 
About Core-Asset Consulting
Core-Asset Consulting is a leading independent recruitment company dedicated to the asset management, accounting & finance, investment operations and wider financial services sectors in Scotland. A specialist recruiter based in Edinburgh, it offers its clients tailored solutions for permanent and interim positions. Core-Asset Consulting is an accredited member of the Recruitment & Employment Confederation. www.core-asset.co.uk
 
Contact
Richard England
Communications Director
Core-Asset Consulting
richard@core-asset.co.uk
+44 (0)131 718 4600
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