From the Abu Dhabi government’s launch of Hub 71, a Dh1 billion mega hub to bring together companies in the tech industry, to the UAE topping the list of countries in the Middle East with the highest number of financial technology start-ups, the country’s technology industry is booming.
But are tech companies here ensuring they have the best people for the job or are they leaving themselves open to employment risk?
HireRight, a leading provider of global employment background checks, has recently released findings from its EMEA Technology Spotlight Report, which shows trends in background screening, HR business challenges, and areas for HR investment for companies in the technology sector.
The respondents reported that finding, retaining and developing talent remains a significant business challenge in the tech industry. The Report also revealed that all respondents from EMEA technology companies had experienced issues with candidates misrepresenting information on their CVs or job applications.
It also found that 80% of EMEA technology companies screen local and international employees pre-hire, however, only 29% of EMEA technology companies are rescreening post-hire, which is less than half the average across all industries identified by HireRight (63%).
There also seem to be more issues with CV discrepancies than in other industries in the region – all technology respondents found issues with candidates misrepresenting information on CVs or job applications.
HireRight has also observed that compared to other sectors in the region, background screening has become much more widely adopted in the technology industry.
EMEA-based tech companies tend to be thorough in who they screen, from local and international employees to their contingent and remote workforce. However, many have not yet fully adopted the practice of rescreening their employees, which in light of the amount of sensitive data available to employees, potentially leaves businesses vulnerable to the risk of internal threats.
The Report also found that:
• 37% of employers were aware of issues that have arisen as a result of senior executives not being screened during a merger or acquisition.
• Only 17% of tech companies rescreen employees when they are promoted, with only 8% screening employees periodically.
Technology companies may have a higher risk of data or IP theft than in other sectors, making it even more important to check that your candidates are who they say they are, and have the skills, experience and qualifications that they claim.
To further mitigate these risks, a review of rescreening policies would also be advisable, given the low numbers that currently adopt this best practice.
The complete findings from HireRight’s EMEA Technology Spotlight Report can be found here.