Resume fraud: the high cost to the energy industry

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Overview

Energy industry employers expect an uptick in hiring, with a majority planning to recruit significantly in 2018. The growth is creating a job market where skills and technical savviness are key differentiators for jobseekers. In such hyper-competitive job markets, jobseekers often look for ways to make their resumes stand out from the crowd.

This type of competitive market can also lead people into the murky world of resume fraud: misrepresenting one’s skills, education, or work experience on their resume as a way to appear to be a better candidate. While resume fraud is never welcome in any industry, positions in energy – highly technical and often dangerous – require that companies hire the right people with the right skills. Companies across the energy sector are starting to realize the real business and cost implications of resume fraud. We are committed to helping energy, utilities and mining companies identify and employ tactics to defend against it.

Additional considerations

Looking to the future, the next breakthrough in recruiting and hiring management may lie in blockchain technology. Blockchain’s distributed ledger technology creates an unalterable record of transactions that has the potential of being a single source of truth for verifying an individual’s work history, education, credentials, or even degrees of personal information.

There are clear benefits of this type of record for HR, including cost-savings on background checks, cross-organizational records, and overall increased confidence in verification data – all of which lead to reduced exposure to fraudulent hires. While blockchain’s potential is transformational, the landscape is nascent and developing. PwC has been a valuable advisor, both strategically and technically, as we experiment and prototype practical use cases around blockchain.

Contact us

Bobby Marandi

Energy, Utilities & Mining Co-leader; US Oil & Gas Leader, PwC US

Robert Gruman

Partner, PwC US

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