In the pre-digital era, it was easier to verify a person’s identity – especially since most transactions and interactions happened face-to-face. However, today, businesses worldwide are undergoing their digital transformation and are starting to see the opportunities that digitalization can bring in terms of profits, operations, and market reach. Nonetheless, it is essential to be wary of the risks associated with this process, especially those that are not fully understood.
Undoubtedly, the pandemic has fueled changes in workplace culture; most notably the rise in work from home. What was thought to be an initial emergency measure to stop the spread of the virus is now a clear picture of the future work environment. With over 74% of companies considering keeping their teams remote even after the pandemic has ended, it is crucial to start looking into these changes’ implications, especially those related to the hiring process. In a fully remote, fully digitalized recruitment process, digital identity verification can help you protect your company, hire the right talent for the job, and streamline the operation.
A person’s identity is the ensemble of all those permanent and semi-permanent traits and claims that set an individual apart from others. Verifying these claims and features means putting in place a process to ensure that they are existent, true, and correct – and associated with a real human!
Digital identity verification – or remote identity verification – is a process that allows you to do so thanks to the implementation of a digital solution. This process might include the verification of a set of data including:
A digital solution can carry out all the necessary checks, including:
Solutions such as digital identity verification not only speed up the hiring process but also protect your company. From keeping data secure to preventing fraud, digital identity verification is an essential asset for companies looking to undergo a smooth transition into the world of remote teams.
As the pandemic hit, many companies quickly arranged for their teams to work remotely. However, it did not take long for organizations to understand that there were substantial benefits to a remote workforce. As employees design their home offices, companies can cut back on rent and have access to an international talent pool that is not limited by geographical boundaries.
However, because of such a vast talent pool to choose from, remote working has brought several challenges to the surface, including finding a more suitable hiring and onboarding process.
In fact, verifying a candidate’s identity and finding the right talent for the job without being able to meet applicants can be challenging. In turn, this can slow down the hiring process and represent a considerable waste of resources for most businesses.
Digital identity verification automatically verifies the candidate’s identity at the start of the screening process, which ensures that your recruiters will only meet with real and suitable candidates.
Some of the benefits of this option include:
Thanks to digital identity verification solutions, you won’t have to go manually through the documents and data submitted. In turn, this can increase the accuracy of the check, reducing risks and speeding up the hiring process.
Remote working has its benefits – but it also comes with considerable risks! Since the start of the pandemic, companies have experienced an increase in cyberattacks and malware activity. These attacks come in various forms, including one of the so-defined biggest threats to human society: identity fraud.
According to a recent survey conducted by the HR Research Institute in partnership with Sterling, 48% of respondents experienced identity fraud at least once, and 35% identified employment-related identity fraud as one of the fastest-growing trends for the next few years.
At the same time, with companies always relying more on data, breaches and loss can lead to irreversible damage from a financial and reputational viewpoint.
Therefore, it has never been more important to verify that candidates are who they say they are. And, for this, a visual analysis is no longer enough – which makes finding the right digital solution ever so vital! An efficient digital solution won’t only screen out fraudulent individuals but will also deter others from applying in the future, increasing the overall security level of your company.
For candidates, the limbo between the first interview and the response moment can be nerve-wracking. And, there is nothing as unprofessional as a company that is late in updating a candidate and offers a poor communication channel. At the same time, a Glassdoor study found that 88% of new hires are dissatisfied with the onboarding process because of slow manual factors and lengthy timelines.
Additionally, it is crucial to notice that the average cost-per-hire is around £3,000 – and over 49% of candidates drop out of the recruitment process after the last interview because of an unsatisfying experience with the company. When putting these statistics together, it is easy to see how important it is to streamline the hiring process, increase the level of candidates’ satisfaction, and secure the best hire.
Lastly, having a reliable digital identity verification in pace sends out a clear message that yours is a forward-thinking company that has embraced remote working and the latest technologies.
Undergoing an initial digital verification also means that candidates won’t have to deal with inconveniences and corrections later on – and they are bound to be more trustworthy than the company has systems in place to prevent identity fraud.
Digital identity verification is a relatively new technology – but it is quickly becoming an unmissable asset for companies who wish to embrace digitalization and remote teams. Through digital identity verification, a recruiter can screen out fraudulent applicants, protect the company against identity theft and data loss, streamline the hiring process, and elevate the candidates’ experience.
About the writer:
Rebecca DiCioccio is the Marketing Manager at Paperform. Outside of work, Rebecca can be found exploring the outdoors or with a book in hand. Rebecca’s background in copywriting and a keen interest in SEO and digital marketing mean she understands the importance of staying up to date with the latest trends in a dynamic and ever-changing industry.