The Fraud Detection Metrics That Could Save Your Hiring Process
Discover how defining SLIs and SLOs can enhance your hiring integrity and reduce fraud.
Effective verification metrics can make or break your hiring integrity.Back to all posts
The Fraud Detection Metrics That Could Save Your Hiring Process
In a world where a single proxy candidate can derail your hiring process, the stakes have never been higher. Imagine this scenario: your team has spent weeks vetting candidates, only to discover that a fraud attempt slipped through the cracks, costing your organization not just a single hire, but also credibility and trust in your hiring process. With the growing sophistication of fraud tactics, engineering leaders must act decisively to define and monitor verification Service Level Indicators (SLIs) and Service Level Objectives (SLOs).
Why This Matters
Understanding the critical nature of SLIs and SLOs in the hiring process cannot be overstated. Poorly defined verification metrics can lead to increased fraud attempts and a negative candidate experience. Engineering leaders must recognize that every candidate interaction is a data point. By analyzing completion rates, latency, review rates, and fraud catch rates, organizations can uncover valuable insights into their hiring processes. These metrics not only help in identifying weaknesses but also enable proactive adjustments to improve overall efficiency and security. For example, a high latency in the verification process may indicate that the technology is not scaling as needed. This could lead to candidate drop-off and ultimately affect your talent pipeline. By continuously monitoring these metrics, teams can pivot quickly, ensuring that their verification systems are both effective and efficient.
How to Implement It
continuous improvement. 3. Implement Regular Telemetry Reviews: Schedule weekly or bi-weekly reviews of your SLIs and SLOs. Use this data to inform staffing decisions and policy adjustments. If you notice a spike in drop-off rates, consider increasing reviewer availability or simplifying the verification process to enhance candidate experience and reduce friction.
Identify Key SLIs: Begin by establishing the critical metrics for your verification process. Completion rate, latency, review rate, and fraud catch rate should all be prioritized. Each metric provides insight into different aspects of the hiring flow.
Set Specific SLOs: Define what success looks like for each SLI. For instance, aim for a fraud catch rate of at least 95% and a review rate that allows for timely candidate evaluations. These objectives should be ambitious yet achievable, pushing your team towards
Key Takeaways
Establish clear SLIs and SLOs for verification processes, focusing on completion rates, latency, review rates, and fraud catch rates. Monitor metrics regularly to anticipate fraud attempts and identify areas for improvement. Align reviewer staffing with telemetry insights to ensure timely candidate evaluations and enhance the hiring process.
Key takeaways
- Establish clear SLIs and SLOs for verification processes.
- Monitor metrics regularly to anticipate fraud attempts.
- Align reviewer staffing with telemetry insights.
Implementation checklist
- Identify key SLIs: completion rate, latency, review rate, fraud catch rate.
- Set specific SLOs to improve hiring metrics.
- Implement regular telemetry reviews to adjust staffing and policies.
Questions we hear from teams
- What are SLIs and SLOs in the context of hiring?
- SLIs (Service Level Indicators) are metrics that measure the performance of your hiring verification processes, while SLOs (Service Level Objectives) are the targets you aim to achieve for those metrics.
- How can I improve my fraud catch rate?
- To improve your fraud catch rate, regularly review your verification processes, implement advanced technologies, and ensure that your team is adequately trained to spot potential fraud.
- What should I do if my drop-off rates are high?
- Analyze the verification process to identify bottlenecks, simplify steps where possible, and consider increasing reviewer availability to enhance the candidate experience.
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