Case Study – Banking
A prominent bank, with approximately 1,000 applicants per year, needed to reduce costs in their pre-employment screening process and decided to outsource their screening to Venovox. Venovox was able to help the bank to consolidate nation-wide hiring and cut back on inefficiencies.
Our statistics showed that nearly 5% of the bank’s applicants were untruthful in their educational claims, and that the number rose during economic crisis. Venovox’s analysis also revealed that over one third of job applicants had an unsavoury work history, and that by the end of 2014, 22% of the bank’s applicants had something to hide in regards to their work experience.
As a result of partnering with Venovox, the bank saw increased accuracy coupled with speedy completion of files, which resulted in savings and better hires.