Hiring a new employee is one of the most important – and riskiest – decisions you make as an employer. The right hire can help take your company to new heights of growth and success. But the wrong one can be devastating to morale, your business well-being, and your financial bottom line.
Pre-employment background checks are essential to know exactly who you’re hiring and to help ensure you make the right selection every time.
The Cost of Skipping a Background Check
Background checks promote a safe and profitable workplace and serve as a valuable risk management tool. Rather than being a breach of trust, they help preserve the long-term integrity of your workforce.
If you fail to investigate the background of someone you bring onboard, you may be liable for negligent hiring if that person is involved in serious misconduct or illegal activity later on. Punitive damages in such cases can run into millions of dollars. This is especially critical in more risk-sensitive positions.
When you hire people without checking their backgrounds, you’re making a decision while wearing blinders. Resumes often include misleading or incorrect information such as falsified education details, job titles, and employment dates. Or, a candidate may omit residency in a region where they have a criminal record on file. A thorough background check will uncover all this data and more.
A global study by the Association of Certified Fraud Examiners (ACFE) notes that businesses lose 5 percent of annual revenues to employee fraud. In addition to the theft of money and inventory, cybercrime is a constant and growing threat. Augment your security controls with the peace of mind provided by a robust background screening.
From a Candidate’s Perspective …
If a candidate is considering employment at your company and is concerned that they might not pass a background check, they are less likely to apply. Your hiring process has a built-in prequalification process that eliminates bad seeds before they take root.
Committing to background checks also illustrates that you take pride in your company and care for its people. Prospective hires are much more apt to take your entire approach to hiring more seriously.
Work With the Experts!
At Chane Solutions, we share your commitment to consistently hiring the right people while staying fully compliant with antidiscrimination and other employment laws. We also understand your concern about the commitment of time and staff resources involved. By partnering with us, you can get the best value and results from your background screening and drug testing processes, as our experts remove this burden from your plate. Read our related posts or contact us today to learn more.