OCTOBER 20179A background check can not only ensure that the employees hired are qualified and are a right fit for your firm, but also examines court records to ensure that your new hire hasn't been involved in any illegitimate activities in the past, thereby, improving safety in the workplace environmentas possible,rather, focus on a candidate's experience and long-term success within the organization. An offer letter or induction of a new employee isn't the end of the process, as the employers need to continue to track the quality of the hire. A comprehensive background check typically costs less than 1 percent of your hiring expense and helps ensure the quality of talent.Here are a few reasons why background screening should be considered an investment rather than an expense:1. Helps Improve the Quality of the HireTalent acquisition is an expensive and time consuming process that every company needs to under-take. Studies show a consistent rise in the number of candidates falsifying their experience, edu-cation and other aspects in their resumes, mak-ing it difficult to find candidates that are quali-fied and honest. The Q1 trends report by First Advantage, found discrep-ancies in 10.7 percent of the cases verified with 59 percent being related to employment and 6.1 percent related to education. A comprehensive background screening process helps reduce these risks and weed out candidates that aren't fit for the organization, thereby, improving the quality of the workforce.2. Reduces Employee TurnoverWhen employees leave an organization within a short span of time, it triggers the process of finding and training a suitable replacement, which means additional expendi-ture and loss of productivity. In addition to the hiring and training costs, an organization also has to bear the ex-penses of the off- boarding process. An inclusive screen-ing, identity and information solutions give employers access to actionable information, which results in faster, more accurate people decisions and a lower turnover rate.3. Reduces the Risk of Negligent HiringChances of a negligent hire are significantly higher, when background screening isn't carried out, resulting in unnecessary losses. A Negligent hire is defined as a claim made by an injured party against an employer based on the theory that the employer knew or should have known about the employee's background which, if known, indicates a dangerous or untrustworthy character. In layman terms, it is an incident that occurs because an employer hasn't done his due diligence which could have saved the organization from being entangled in expensive lawsuits that could damage its reputation.4. Improved Workplace Safety and SecurityA background check can not only ensure that the employees hired are qualified and are a right fit for your firm, but also examines court records to ensure that your new hire hasn't been involved in any illegitimate activities in the past, thereby, improving safety in the workplace environment.These are just a few ways in which a background check can benefit a firm. An initial investment in back-ground checks with a trusted partner, helps reduce costs, improve quality of the workforce and boosts reputation in the long run. Employees are a compa-nies' most critical asset and it is important to find the right person for the right role, which can be sim-plified with organizations such as, First Advantage, Authbridge, KPMG, AIM Screening, etc. In con-clusion, Background screening is a risk miti-gating tool, which helps employers make informed decisions while hiring and the value it provides significantly outweighs its cost. Purushotam Savlani
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