According to recent research conducted by Accenture, trust in banks rose by 11 percent last year, from 2015. However this still means a lot of work has to be done with only 40 percent of consumers having confidence in banks. Consumer confidence can be greatly enhanced by the use of polygraph tests in banking recruitment.
The study found that banks were more trusted than insurance providers and independent financial advisors. However, banks were not as trusted as retailers by a 3 percent margin.
Entrepreneurs reluctant to seek development loans
The UK is renowned for its entrepreneurship with new businesses opening every day but they often struggle to develop. Sometimes this is because they are small businesses like coffee shops or companies that sell artisan products. These types of enterprises usually won’t grow into large conglomerates. However, a more insidious reason for lack of growth is that entrepreneurs are reluctant to seek development finance from banks.
Innumerable scandals since the 2008 recession, where the general public became aware of mis-sold PPI and the Royal Bank of Scotland restructure resulted in smaller companies being forced into bankruptcy. This means that mistrust in banking is still a problem that has to continue to be addressed.
Pre-employment screening in banking
No matter the scandal, there is always a human element in it. For this reason banks look to recruit employees that are not only qualified but are also likely to be loyal and trustworthy. Avoiding theft of money, valuables and data requires banks having faith in their staff.
Naturally there is a myriad of checks that can be done which will provide factual information related to criminal record, previous employment history and education. However, none of those checks will give the employer an insight into the character of prospective candidates.
Lie detector tests are carried out following a structured question plan. These important questions and the subject’s responses to them can reveal so much more about them. Conducted in the early stages of pre-employment screening, polygraph tests in banking recruitment can save significant time and money. For example if the test reveals the subject has lied on their CV you will know that it has to be scrutinised and checked out.
Polygraph tests in Banking Recruitment
Whether you are agency providing prospective job candidates to banks, or directly seeking to recruit banking employees, lie detector tests can help tremendously in avoiding mistakes. As confidence is beginning to increase in the banking sector, the polygraph can help to restore and enhance its reputation.
For more details about our services to bankers, contact our friendly customer services staff for an informal, confidential and free discussion.