The use of social media is fast becoming a regular part of the recruitment process with half of employers in a US poll admitting to reviewing an individual's social media profile as part of the recruitment process (read more here). But the value of the information gained is questionable as so much can depend on context and, arguably, the throw away comments on a social media site won't necessarily reveal any spurious connections or associations.
With the increase in regulation in the financial services sector, combined with the need for corporate businesses to demonstrate more transparency, due diligence is becoming a much more significant part of a joined up recruitment process. Indeed a significant number of companies are carrying out due diligence checks, not only on candidates that they plan to offer a role to, but on all applicants.
Since the process of recruiting new people almost always involves third parties, an essential element of the process is ensuring that these third parties (typically recruitment consultancies) adhere to the same standards of due diligence as the company itself. This is critical because a company does not want to be in the unenviable position of having selected a candidate to then discover relevant checks have not been made.
In the recruitment of employees, recruitment companies effectively become part of a company's supply chain. The fact that what is being supplied is a service rather than a product is not relevant. Indeed it could be argued that the supply of people to an agreed standard is just as critical as the supply of goods sourced to a company's agreed standard.
Forward thinking recruitment companies will not see this as a burden. Quite the opposite; the pre-vetting of candidates to a certain required standard is likely to be a positive differentiator for a recruitment company.
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