Background Verification Process in MNC in 2023

To have a forward-looking career is the great dream of every professional. Lucky are those who get placed in the top MNCs of the world. But do you think your path to becoming an employee in a rich company is a cakewalk? No, to become a part of an MNC, aspirants have to study hard and apply their professional and personal skills while studying. Then, when you are among the cream of the crop, try to become an MNC professional. Every MNC provides its employees with outstanding career development and world-class facilities to give them an exceptional life. But when it comes to hiring aspirants, MNCs take time to study every prospect – their past employment details, digital footprints, criminal records, etc.

Unlike Multinational Companies, small and medium enterprises are six times more likely to fail to check the background details of their candidates, a recent study reveals. This study also points out the fact that small and medium employers hire fake candidates who falsify various parameters like academic, professional and personal qualifications and skills; and the rate of hiring fraudulent candidates is 50% higher than large companies.

Did you know that candidates belonging to the age group 35 – 45 are the most likely to falsify their CVs?

In small companies, the rate of mismatch is 9.28 percent while in large companies it is 6.20 – a significant difference in the rate. The reason for this big difference is that MNCs implement rigorous and detailed employee background screening processes based on employer requirements. Background verification companies like Millow conduct different types of background checks for employees. The scope of the screening process is defined by the client, in this case the employer.

Why MNCs Perform Advanced Employee Verification Checks?

We live in a technologically advanced and information-rich digital age. In line with the increase in technological advancement, there is also a growing concern about data security and information hacking. That is, the age has witnessed a rapid increase in fraudulent activities using world-class digital technologies, which sometimes pose a serious threat to the lives of people around the world. As multinational companies are involved in mission-critical projects that can have serious global implications, they check the background of each and every candidate they select to perform such tasks.

To put it simply – candidates who falsify their details, are driven by their bad intentions and have a bad history of engaging in criminal offenses can seriously affect job security and must be eliminated – if possible, they must be brought under the law. The first and best way to avoid bad hires is to follow the latest employee background verification services. Any type of bad hiring decision will result in compromised workplace safety and employee and facility safety.

MNCs are rich companies that have multiple branches in different parts of the world. Such companies need professionals who are experts in their respective fields and must have good qualities and character traits that make them stand out from the crowd. They are responsible for carrying out important tasks and must have the ability to work with influential people in international business with cleverness, honesty and reliability. If the candidates hired by the MNCs have misrepresented their qualifications and skills, it will affect their integrity and reputation.

Not Blind Hires, but Smart Hires – As one of the leading background verification companies, we have a smart team that is capable of providing world-class employee background check services that harness the potential of cutting-edge technologies to verify the authenticity of the information submitted by the prospects.

How is Employee Background Verification Done in MNCs?

Multinational companies and most of the companies registered with Nasscom conduct background checks on employees before offering jobs to their candidates. From checking past criminal offenses to verifying the authenticity of personal and professional information to checking past financial fraudulent activities, everything is included in the process of MNC Employee Background Screening.

Many people have noticed that the entire recruitment and hiring process of an MNC is comparatively slower than SMEs. The main reason for this delay is that large companies invest their money, time and resources to determine the credibility of the details submitted by the job applicants.

At Millow, we follow a set of mandatory step-by-step procedures to conduct an in-depth and thorough employee background check for MNCs as follows:
1. We investigate and define the scope of the inspection.
2. We assemble an efficient and dedicated team of excellent inspectors.
3. We divide the team on various parameters- education, employment, criminal/ sex offenses, financial, character, social media presence, personal, etc.
4. We work in collaboration with reliable authorities to provide multinational coverage.
5. Different departments work together to form a centralized screening process
6. Repare and submit a scientific and impeccable report as per the requirements.

It is no wonder that in multinational companies, the rate of discrepancies is lower as compared to companies that hire candidates in small numbers.

Discrepancy Fact Checks & Comparisons: Multinational Companies vs Small Medium-Scale Enterprises

Though the rate of discrepancies is decreasing with each passing year, there is a large percentage of people who lie in their resumes and hide their history of violent/criminal and fraudulent activities just to get recruited in top MNCs.

• The percentage of candidates falsifying their resumes has dropped from 7.5% to 6.8%. In 2016, it was 7.5% and in 2018, it was only 6.8%.
• Compared to other parts of India, most of the discrepancies take place in North India, with Chandigarh being the Indian city where most people are involved in creating embellished credentials. Chandigarh records 7.8% of the total cases, followed by Pune with 7.5%.
• The percentage of fake job references is 23 percent higher in small scale industries as compared to MNCs.
• SMEs report twice as many candidates failing drug tests as MNCs.

If you are an employer and want to avail the services of a reputed, transparent and technology-driven background check company, contact us!
Contact: 011 41219183