Executive Background | Employment Background | Background Checks
Using Executive Background Checks - The Employment History Background Check
Executive background checks (a.k.a. the employment history background check) are becoming much more en vogue these days as corporations and businesses have found out the hard way that there are frauds within their walls. Further, the costs of not discovering employment history background check frauds prior to scandal (or worse!) have ranged into the billions of dollars in lost shareholder wealth.
Executive Background History - Cheaters Do Prosper
Big Prizes Attract People Willing to Cheat to Win
Big prizes attract big risk takers goes the saying, and history has shown that cheaters do indeed prosper when honest people let their guard down. Is it any wonder then that men and women seeking top positions at companies stretch (a gentle assertion in some cases) the truth about their work history or educational background? It should come as no surprise that people lie on their resumes to get big payday jobs. What should surprise (and offend) you is that more of these frauds don't get caught. The more frauds that slip into the executive chair the more incentive others find to imitate, rather than disdain that sort of unethical success.
Scan the Headlines - Executive Background Checks Don't Get Done
Estimates Indicate Less Than 20% of Resumes Verified
A quick internet search produced easily a dozen cases of executive resume fraud... including incidentally several companies whose shareholder stakes have been devastated over the same time horizon. I'm not saying there is cause and effect here but draw your own conclusions... the following companies had major executives admit to resume boosting in 2008:
- Radio Shack
- Herbalife
- Cabot Microelectronics
- Tetra Tech
- Aircastle
Is it any real surpise then that each of the above companies lost 50% of its market cap at some point in 2008? Some have recovered more than others... but not after major shareholders decided to jump ship first.
How Does One Do A Proper Executive Employment History Background Check?
Premium Databases DO Carry These Records - And It's Not That Expensive
It doesn't actually cost all that much to do unlimited numbers of employee work history background checks. It's possible to verify work history including job titles and dates of employment as well as educational background - degrees attained and colleges attended.
The first thing you absolutely must do is get a signed consent form authorizing you to do a complete and thorough executive background check.
Education and employment verification costs may vary, but when the position is high enough, it's more than worth it.
Think the folks at the prior mentioned companies would have preferred to have access to employment history background check data in 2007?
Employment History Background Checks
...are cheap and prevent fraud. You worked hard and honestly to get to where you are... why shouldn't everyone else? Keep them honest by verifying there resume information. You OWE it to your stakeholders.
How Do You Feel About Executive Resume Fraud?
Have You Been Affected? How So?
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Reply
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resume-analyst
Oct 3, 2010 @ 1:30 pm | delete
- Very constructive lens. This is clear information. Keep up the good posting.
Grtz
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Executives and Fraud: Studies and Literature
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There Are Plenty of Resources to Verify Personal Information
If you are in a fiduciary position, whether a landlord, or parent, or bride to be... you shouldn't feel at all conflicted about verifying the personal integrity of the people around you. Virtually everyone lies about something these days... just make sure those lies don't hurt you - or the people you are duty bound to protect.
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