The senior management in any organization shoulders the responsibility of making strategic decisions and steering the enterprise in the direction of sustained growth. The senior management's role becomes more important because it also shares the responsibility of maintaining the tone right at the top which speaks about the integrity of the organization.Senior management sets examples at the top which is imbibed throughout the organization. What if the senior management sets a negative example? How are employees going to perceive this? The senior management's indulgence in any wrong doing and violation of norms set by the enterprise can weaken the morale of the employees in the enterprise. It can result in loss of valuable human resource. |
We come across cases of corporate fraud quite often. Revelations on executive fraud, which are at times unbelievable but true act as an eye opener. “On 18 June 2013.,former TigerDirect president, Carl Fiorentino, has been taken into custody for engaging in money laundering, wire fraud and mail fraud.Allegedly, Fiorentino received bribes of $6.5 million and $570,000 from a Taiwan-based firm and a California-based company, respectively, for steering TigerDirect's business to that firm by purchasing their supplies.” This instance brings to notice the disdainful nature of a person from senior management.The person didn't think twice before indulging in corporate fraud.
Is there a viable solution which could have acted as a precaution against the above executive fraud? To address the above situation advanced background check for top management is a viable solution. Standard background check is available for the verification purposes but when it comes to screen a person from senior management the approach opted for should be exclusive. A person from the senior management in most instances have an experience of more than a decade. Their career span might involve different organizations, affiliations, states and countries. Therefore an apt advanced background check for top management should be an in depth analysis. It will prove beneficial in order to dig out information which is not the case in standard background check. Advanced background check for top and senior executive search comprises a standard background check and even more than that. It is a thorough due diligence of a candidate who is supposed to be in charge of crucial responsibilities at senior level. It will reveal the accuracy of the credentials of the information stated and also try to extract the underlying.
Organizations should incorporate the practice of due diligence of a candidate to be brought on board as part of senior management. This will act as a preventive measure against the risks of corporate fraud and the probable repercussions thereafter.
Naman is associated with a leading background screening company that specializes in Executive Screening
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