The Importance of Background Check Companies in the Corporate SectorPosted on: February 8, 2020 by Gavin Muirhead
In any business, big or small, the greatest investment that can be made is to the company is their employees. Without its employees, a business cannot operate, and so when taking on new team members, it is important to be able to make informed decisions about potential candidates. Because a business will be investing a lot of their time, money, and resources in training any potential new workers, establishing the reliability and integrity of a person is vital. This information is revealed through a process called a background check.
Confidence Gained with a Background Check
The purpose of a background check is to enable a company or employer the ability to hire prospective employees in complete confidence. Knowing you are taking on the right person for the right job can enable your business to thrive.
There are 2 methods of checks that can be carried out, but the most common of these is the pre-employment check. Using this, companies are able to investigate the history of prospective team members through the use of criminal record checks, reference checks, resume verifications, and social media checks.
Less common is the business background check, which is used by companies when researching the creditworthiness of prospective customers and partners. Each of these has a practical consideration for a company, enabling them to verify a person’s credibility in order to select the best candidate. Knowing that the person you are about to employ is trustworthy, will work well with others, and is able to follow the direction of their managers is important to maintain a successful working environment.
Background checks ensure the right candidates are selected for the right roles in a company, but also they ensure the safety of the business itself, its staff, and its clients. There are many recognizable benefits to carrying out background checks within a company. Below, we’ve listed 5 main reasons why such checks are necessary to fully safeguard a business.
1. Fraud Prevention
Statistically, more than half of all applicants lie on their resumes, embellishing their skills and qualifications to make themselves look good. Without checks, businesses run the risk of hiring unqualified or unsuitable candidates, which can impact on the productivity and quality of work, damaging the growth of a business over time.
2. Data Security
Businesses are required to publish privacy promises to their clients and employees. These are designed to provide security of personal information so that deceptive practices cannot take place. The Federal Trade Commission Act enables the U.S. Federal Trade Commission (FTC) to enforce this requirement. While external data breaches will always be a threat, internal breaches can often be even more damaging to a business due to the loss of information, as well as the loss of trust in valued employees both new and tenured.
3. Legal Compliance
Knowing your employees have the correct qualifications for a role is important, but so is ensuring that your employees have a legal right to work for you. Consciously employing illegal workers is a criminal offence, and so checking the backgrounds of prospective employees is essential in order to comply with federal law.
4. Reputation Management
Fraud, data breaches, and failure to comply with employment regulations can all have a negative impact on the reputation of a business. Damage control can be very costly, so carrying out background checks before problems are able to arise is the best way to safeguard a business’s reputation.
5. Protecting Your Workforce
Background checks not only safeguard a business, they protect team as well. Understanding your employees enables a business to establish a safe working environment where bullying, discrimination, sexual harassment, and acts of violence can be recognised and countered before they can occur.
Affordable Background Checks
Many companies specialize in conducting background checks for businesses, but when requesting background checks, it is important to consider the level of detail you require. Every company who checks backgrounds will vary in the types of information they offer, and the more in-depth they investigate, the more they are liable to charge. High prices can prevent some businesses from being able to carry out appropriate checks.
At Affordable Background Checks, we provide a comprehensive list of services to employers at an affordable price that will not sacrifice on the quality of your results. With a massive database, covering areas from employment pre-screening to criminal background checks, we are able to quickly compile results from a number of sources, providing you with a complete report containing everything you need to know. Contact us today to get started.