Challenger, Gray & Christmas, an outplacement consulting firm, released their monthly update on CEO departures. They report that CEO departures in February 2009 were at the lowest monthly turnover since December 2004. They also report that resume fraud is a growing concern.
“Resume fraud is likely to become more prevalent in the downturn, even among high-level executives. With increased competition for available positions, there is more pressure to find and keep a position. With this pressure comes the temptation to embellish one’s education or work record. More of these embellishments are likely to be uncovered, however, as companies become more selective and more diligent in the vetting process.”
I say it’s about time companies are more selective with their C-Level Executives. Believe it or not, many companies screen their janitors more thoroughly than their executives. For more on executive screening go here.
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