[Infographic] 27 Percent of Job Applications Contain Inaccurate Information
More than a third of applications to jobs in professional services, technology and legal sectors contain inaccuracies, according to a report.
A new survey from pre-employment screening company First Advantage covers checks carried out for organisations in Europe, the Middle East and Africa (EMEA) between January 2011 and June 2014. The regional average discrepancy rate was shown to be 27.2 percent.
Some 37.1 percent of checks on candidates applying to technology companies exposed inaccuracies or ‘discrepancies’, as did 37.0 percent in the legal sector, 35.7 percent in the staffing and recruitment sector and 23.0 percent in financial services.
Professional Services cause for concern
More than a quarter of the inaccuracies found in the professional services (39.2 percent overall discrepancy rate) sector were considered ‘major’ discrepancies, meaning they raise significant cause for concern.
Remarkably, more than half (53.8 percent) of education checks uncovered discrepancies, as did more than a third (35.2 percent) of professional qualification, license and membership checks and just under a third (30.0 percent) of employment checks. However, the overall discrepancy rate for the sector has been falling since 2011.
Traci Canning, Senior Vice President and Managing Director of First Advantage in EMEA, said: “The high proportion of checks uncovering discrepancies in the professional services sector is obviously concerning.
“Based on our findings, there appears to be a link between prevalence of screening and lower discrepancy rates, as illustrated by the comparatively low discrepancy rates in the financial services sector where screening is routine.”
On the findings in the legal sector, Canning added: “The reputations of legal services companies are founded on integrity and proficiency. So, to find such high rates of discrepancy in candidates’ education and a rising rate of major discrepancies overall is naturally cause for concern – not so much for the companies that know about them but for those that don’t.”
See the infographic below for more information:
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.