An organization typically constitutes of various hierarchical levels, with each level having its own importance. This makes it pertinent for the company to make the hire at the leadership position keeping in mind the unique requirements of the job role of that very function. |
Nevertheless, executives at the top of the ladder are considered the holder of most important roles. Companies are seen to rely extensively on the top and senior management for strategizing and planning in order to reach the business goals. This very fact also results in heavy losses for the companies in case the honcho decides to take the illegal route to further his/her personal interests at the cost of the organization's interests
In the month of July this year, ArthoCare Corp., a reputed surgical device company based out of Texas, suffered from the most dreaded losses after its top executives defrauded the company's investors for their personal gains. Allegedly, the former CEO Michael Gluk and the CFO Michael Baker planned out a scheme of worth $400 million which involved falsely inflating the company's earnings. The top executives arranged for sham shipments to distributors so that they could meet the quarter end sales targets. The heads also took several extensive measures in order to hide forgoing activities. They have been caught and inducted on the charges of wire fraud and securities fraud along with defrauding the investors off course.
CXOs represent the values of the company to a large extent and, thus, have a strong influence on the investor confidence. This confidence works towards keeping the market value of the company's shares up. Once the organization's heads do something selfish as a result of which the investor confidence waivers, organizations find it hard to get themselves together after the blow.
This is why, it is very important that the the company takes enough measure to be ensured that the person filling the leadership position is someone who has a record of showing integrity all throughout his/her professional tenure. Apart from this a company also needs to make sure that the person has a genuine identity and a clean past.
In order to ensure the above pre-requisites, a company needs a robust screening process that can look into every aspect of the candidate. Advanced background verification of senior and top executives hardly limits itself to just verification. Top executive screening gets elevated to a wholesome due diligence process with background check being a small but integral part of it.
Naman is associated with a leading background screening company that specializes in Background Screening & Executive Screening
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