4 Surprising Ways Background Checks Can Improve Your Bottom Line
If you’re under the illusion that the only valid reason for giving new hires comprehensive background checks has to do with your desire to make sure you’re not hiring either criminals or folks with drug or alcohol issues, take a second look at the benefits you receive beyond those two areas. According to Canada’s Triton organization, “In a recent poll, 41% of employers put the cost of a bad hire at over $25,000.” Hire the right person the first time so your bottom line doesn’t wind up as a statistic, too!
1. Background checks reveal the truth about doctored educational credentials that make a job candidate look great on paper. People are becoming brazen about falsifying education credentials because they know that privacy laws have become burdensome and they’re counting on that.
2. Running background checks can keep you out of court, eliminate attorney’s fees and costs associated with lawsuits down the road. How vulnerable is your company? Has today’s toxic environment of sex-related scandals got you worried that you may have to defend against discrimination charges down the road? With every healthy hire cleared by a background check, your bottom line and reputation benefit.
3. The amount of money your company could lose from a single employee engaged in intellectual property theft could be breathtaking. If you think Southeast Asia is the only place on earth ideas are being ripped off on a regular basis, think again. Your company’s secrets, proprietary ideas and intellectual properties are only as safe as the people you hire, so use background checks to keep your assets safe.
4. Perhaps the most important reason of all has to do with the sophistication of today’s criminals. Hacked e-mails. Pirated funds. Bots planted on systems that can wreak havoc with both sensitive information stored on your system and your financial dealings. Sadly, theft schemes can be far less sophisticated and still do damage. Know who you’re hiring, and you stay above the fray.
Consider every background check you order from Hireshield.com to be the inexpensive insurance you add to your company’s bottom line. You won’t regret your decision.