Why use this?

For Employees

'Stand Out' in the Eyes of
your Prospective Employers
for the
Right Reason

  • Sincere dependable employees are an employer’s dream.
    • If credibly identified, most employers would gladly pay a premium (higher salary) to hire and retain such employees
    • Unfortunately, it is impossible for the employers to make this determination at the time of recruitment.
    • Nothing that you can say or do will convince the employers of your sincere intentions
    • Verimployee is designed to resolve this problem of credibly communicating your sincerity and trustworthiness to prospective employers
  • How does Verimployee identify sincere employees?
    • Verimployee records the promises/commitments that the employees and employers make to each other and whether they are honored.
    • This information is available to future prospective employers with the employee’s explicit consent.
    • By its very nature, only well-intentioned sincere employees will be willing to interact with their prospective employers through Verimployee
  • Verimployee makes you to stand out in the eyes of prospective employers
    • Willingness to register and formalize your promises/commitments to employers on Verimployee platform creates a powerful credibility signal to the employer about your sincerity and trustworthiness.
    • Your ‘record of kept promises’ on Verimployee will be akin to a ‘good credit score’ and will be your strongest credibility signal to your future prospective employers

For Employers

Credibly Identify and Hire
Sincere Employees

  • Mushrooming of job-portals in the past decade has created new problems in recruitment
    • It has dramatically increased ‘job-options’ for employees and made it ridiculously easy to apply for multiple jobs.
    • This has encouraged irresponsible often unethical behavior including not keeping their promises to each other.
    • Most job-seekers don’t even read the JD properly before applying for job, leaving it to the company’s HR to determine if the candidate’s CV matches the job description.
    • It is common for the job-applicants to not show up for scheduled job interviews, not report for work after accepting a job-offer or leave shortly after joining.
    • Recruiting and retaining high quality employees is becoming increasingly painful and almost impossible
    • The dramatically reduced tenure of average employee makes is cost-inefficient to invest in their upskilling or reskilling
    • The consequent loss of productivity and lower operational efficiency, and the inordinately high cost of recruiting has a huge negative economic impact.
  • Verimployee is the ‘Next-Generation’ job-portal
    • It is designed specifically to overcome above-mentioned limitations of existing job-portals
    • It does so by bringing accountability into the interactions between the job-seekers and the employers.
      • It matches employers with only seriously interested and sincere job-applicants who will desist from frivolous behavior
      • At the same time Verimployee makes them accountable for their behavior on this platform
    • It largely weeds out insincere individuals who would not like their truant behavior to be recorded and shared with future prospective employers
    • By incentive modulation, it ensures that only candidates who meet the skills/qualification/attributes listed by the employe apply for the job.
    • Its interview module strongly dissuades No-show for interviews
    • It dramatically reduces Employee No-show after job-offer acceptance, early attrition and leaving without adequate notice by recording these
    • VeriPromise, our equivalent of ‘legal bond period’ has zero-enforcement cost and is more effective.
      • Employers who want to upskill or reskill their employees can benefit immensely with use of VeriPromise
  • We realize that several previous attempts to bring accountability in recruiting have been unsuccessful
    • They included the high profile NASSCOM Skills Registry (NSR), which based on microeconomics was destined to fail and it did
    • In addition, the reasons for failure included
      • Their anticipated benefit for the companies was in the future and not right away
      • They significantly increased work for the HR personnel
      • They required companies to share information about their employees/recruits making them vulnerable to abuse of this information by their competitors, and
      • They could not resolve the legal issues related to sharing employee information with third parties.
    • With its highly disruptive design, Verimployee
      • Successfully overcomes the above-mentioned challenges
      • It dramatically reduces the work for HR personnel and obviate several of their unpleasant tasks.
      • It does not require sharing of any confidential information about your employees with us.
      • Even in the unlikely event that our servers are hacked, we store no information that will be of any use to your competitors.
    • The benefits of Verimployee for the employers are accrued right away and not in future (as was the case with NSR and previous other similar products)

How it works?

Improving behaviour
by
restoring accountability
and
incentive-modification

  • Since times immemorial, the behavior of individuals has been influenced by
    • “What will happen if Others find out about it”
  • In smaller communities, Individuals tend to keep their promises
    • because the long-term consequences of breaking them usually outweigh the benefits.
    • Those who don’t keep promises acquire a reputation for being ‘untrustworthy’ with loss of social and economic opportunities.
    • The ‘reputation’ in small communities is enabled by the information stored in ‘collective memory’ of members of the society
  • Lately, reputation as a social accountability mechanism has progressively become ineffective because
    • Communities have become dramatically larger
      • So the amount of information about individuals that needs to be stored has increased logarithmically and beyond the capacity of human brains
    • Information does not travel freely due to
      • Larger distances
      • Most information travels by one-way channels (despite the social media platforms)
      • Increasing tendency to confidentiality and secrecy
      • Discussing about other people’s lives is frowned upon nowadays and therefore most people tend to ‘mind their own business’
  • Verimployee platform can restore accountability between employers and employees
    • It effectively supplants ‘collective societal memory’
    • by collecting and recording factual information of interactions between employees and employers as it happens on Verimployee platform and making it accessible to future prospective employers
    • It effectively changes the ‘cost’ of not keeping their promises for both the employees and the employers, thereby incentivizing them to honor their promises
  • Verimployee will change employee behavior right away
    • there is no adoption level threshold for it to become effective
    • It does not require collection of data for few years to be effective
    • The fear of the consequences of others finding out about them not keeping their promise serves as a strong deterrent and is effective right-away in improving behavior even for the first company that uses it.
    • In a real-life pilot in TransOrg Analytics,
      • Use of Verimployee reduced their No-Show rate of recruits from >80% to <20% within 4-5 months.
      • In addition, they noticed zero short-term attrition (employees leaving <3 months after joining) and progressive improvement in quality of their recruits
      • This was a strong validation of our concept and Verimployee’s efficacy
  • Verimployee platform has a sound scientific basis
    • It is designed to promote behavioral change by “incentive-modification” based on principles of Game-Theory, Micro-Economics and Behavioral Economics
    • It Convert ‘one-time or finite game’ of employee-employer interaction(s) into a ‘Infinite Supergame’ to completely change the incentives of both employees and employers
    • It uses “choice-architecture” to help employees make the “right” decisions in their interactions with employers

VeriPromise: The Honorable way of Ensuring Commitments

  • In a landmark judgement, the Supreme Court ruled that
    • “Legally enforceable Bond-Periods” are illegal in India and
    • That the employers could only claim the cost of training the employee and not the bond amount.
  • Consequently, investing in skilling new recruits or upskilling employees became a risky proposition
    • since most of them left soon after training to join other companies for higher salary.
    • the industry shifted from hiring for talent and aptitude to hiring for the skills the applicant already possessed.
  • Due to inability to continually upskill their employees,
    • Indian IT companies got stuck on the lower end of the value chain and
    • most Indian IT employees got stuck performing low end work.
    • This was a lose-lose situation for both the employers and employees
  • VeriPromise, our bond-period alternative
    • is a ‘promise’ between an employee and an employer that is registered on Verimployee platform along with mutually agreed terms – commitment period and the release amount.
    • We have means to verify if the promised was honored to mutual satisfaction and record this information
    • This information is available to future employers with explicit consent of the employee.
    • VeriPromise is an honorable way of ensuring that employees fulfill their commitments
  • A major strength of VeriPromise is its zero-enforcement cost
    • Unlike the legal bond-period, you don’t have to go to court to enforce VeriPromise
    • Yet because of its design, VeriPromise is likely to be far more effective.
  • VeriPromise can make it financially feasible once again for your company
    • to invest in upskilling/reskilling of your existing employees
    • without the fear of losing most of them to other companies soon after getting trained.
  • VeriPromise can also used be at the time of recruitment
    • You have the option to ask for time commitment from the applicants at the time of posting the job
    • You also have the option of not requiring a time commitment
    • You chose the duration of time commitment required and the release amount
    • The applicant knows upfront that there is a time commitment required and the release amount when he applies for your job-post
    • Only those applicants who are OK with the terms of commitment apply for the job
    • The VeriPromise commitment gets finalized at the time of acceptance of job-offer on Verimployee

VeriEngage: Continually updates Applicants about their application status

VeriEngage

Timely Updates

For More Satisfying Employee-Employer Engagements

  • A common complaint of the job-applicants with the company HR/Talent acquisition teams is the lack of
    • Acknowledgement of their application
    • Information about their application status after applying for a job
  • The HR/TA personnel acknowledge this problem but are still unable to keep the applicants continually informed because
    • The HR/TA teams are already overworked and under time pressure to recruit for their company’s personnel needs
    • Of the large number of applicants for any job-post nowadays
    • A large number of applicants are non-serious and have not even bothered to read the JD to see if their qualifications meet the job-requirements
  • Regardless of the real and logical reasons why HR is unable to continually update the applicants, it does create
    • Lack of trust and mutual respect between the job-applicants and the HR/TA teams
    • Resentment on the part of applicants who then “want to get even” by misbehaving themselves
  • VeriEngage can help resolve this problem by automating this communication about the application status.
    • It provides a dashboard for the job-applicants where they can view the progress of their application status
    • It also sends email notifications to applicants for important changes in application status
  • The following ‘status’ are displayed on the job-applicant’s dashboard
    • Received
    • Viewed
    • Rejected
    • Assessed
    • Downloaded
    • Shortlisted
  • It generates email notifications to job-applicants
    • On receipt of application
    • When their application is rejected
    • When their application is shortlisted for interview
  • The email notifications can be switched off if the HR so desires

Salient Features

Information is collected prospectively, and on our platform

The information on our system is collected prospectively (going forward). It is based on events that are recorded and verified on our platform and not collected from external data sources or from third party archived data. As a result, it is highly accurate

We only monitor the verifiable data and verify it

We record only verifiable and objective data about the employee-employer interactions. Consequently, our data about an individual employee is precise and unambiguous

Data is verified by both the employee and the employer

Every event recorded in our system is verified by both the employee and the employer. In case of any dispute both the employee and the employer have a chance to enter their remarks into the system, which will be available for future reference

No confidential data from employers is requested or collected

We do not collect or monitor any information that is confidential or is proprietary information about the employer’s HR policies or strategy

Information is shared only on need-to-know basis and with the explicit consent of the employee

Employee information is shared with the employer with whom the employee has applied for a job and only after obtaining explicit consent from that employee. The individual employee also gets to preview the information that is being shared before consenting to share. The employee has a right to refuse to share his/her information with the requesting employer

There will be zero-enforcement cost to ensure (or improve) compliance

Formalizing an agreement on stamp paper in the form of an affidavit, does allow the aggrieved party to appeal in the court of law. However enforcement through court system is prolonged and expensive process, and the employer risks appearing to be bullying the “hapless” employees

In contrast, Verimployee due to its very nature will have zero-enforcement cost (no money or time required), the employer stays the “wronged” party without risking "sympathy" for errant employees. These factors would significantly increase the likelihood that both parties would keep their promises

Verimployee will change employee behavior right away (without the need for the critical amount of employee data)

The awareness amongst the employees and the employers that their promises to each other and whether they honored them, are being archived on Verimployee creates strong incentives for them to behave responsibly right away and going forward

This platform does not have to reach a critical size to become effective

Even though the value of Verimployee platform will increase as more and more companies join in, it does not have to reach a critical volume to become effective. Just a real possibility that Verimployee will have widespread acceptance someday will deter new recruits from behaving irresponsibly

Companies who start using Verimployee early will derive a competitive advantage in their industry

Verimployee has been designed to create an incentive structure which intuitively provides early users of Verimployee with significant competitive advantage in their industry by improving the quality of their recruits, higher certainty of recruits reporting for work and reduced recruitment costs

Our Commitment to you

  • This platform will always be transparent, objective and non-partisan
  • The information in our system will be completely accurate, up-to-date and unambiguous
    • It will be prospectively collected and will be verified by both the employers and the employees at every stage
  • While designing Verimployee platform, our biggest concern and the driving philosophy was to ensure that other companies should not be able to access and misuse your employee data
    • We don’t and never will ask you to share any information about your employees/recruits that is of value to your competitors
    • The information collected by us on Verimployee about your interactions with your recruit/employee will not become part of a that person’s profile as long as they are employed with you (and therefore not accessible to anyone who is not authorized by your company)
    • We guarantee that we will never ever sell access to our database of job-applicants to employers/recruiters the way it is done by existing job-portals
  • Employees will always have access to what others can learn about them from this web-platform
    • Both the employees and the employers will always get a chance to provide their input and request correction of any discrepancies
  • We will obtain explicit consent from the employee/applicant before sharing their information with employers
  • We will spare no effort to ensure the integrity of our processes
    • Our system is designed to double check every event and fact, to prevent manipulation
    • Anyone found manipulating will risk being blacklisted
    • We have means to ensure that all employers and employees will obey the honor code while using this shared resource
  • We realize the data we generate is sensitive and valuable. We commit that
    • Information on Verimployee will not be shared with any third party
    • The control of Verimployee will not be transferred or sold to any other company
    • We will have highest levels of security to protect data

Our Mission Statement

Our Mission

To promote honest and ethical recruiting practices based on sincere behavior

Our Strategy

We will record and keep track of whether individuals or companies keep their mutually agreed commitments. This information will be made available to future business associates with the explicit consent of the individual

Our Vision

To restore accountability and professionalism in interactions between the employers and the employees