7 Reasons Why Corporations Rely on Advanced Background Checks
If you’ve been wondering why corporations rely on advanced background checks, you’re not alone. There are a number of significant reasons for businesses to conduct background investigations. HR professionals or managers can’t be expected to pick up on every warning sign without the help of a careful look at an individual’s past. Read on for 7 key reasons your organization should insist on thorough background checks.
1. Your staff represents your brand’s reputation.
Maintain your reputation by bringing onboard only those who you think share your corporation’s core values. It’s essential that employees understand the mission of your company and that they are committed to working hard to protect it. Failure to safeguard your reputation could result in a loss of income in the future. Companies relying on advanced background checks may include social media background screening to protect their reputation, shield them from litigation, and promote security within their organization.
A bad hire can cause serious harm to your reputation. This could be in the form of bad press, which would significantly hurt your brand. Background checks are an inexpensive insurance policy to help prevent this.
2. Employees have access to sensitive equipment and data.
In most cases, businesses, no matter how small, have vast assets–from institutional data like financial information to sensitive client records to advanced computers, trucks, and more. A thorough background screening can help to protect these assets and verify that new hires will safeguard the institution’s information and holdings.
3. Terrorism is a real threat in 2018.
As much as it’s hard to think about, terrorism is all too real in the modern corporate world. Searches like an Office of Foreign Assets Control (OFAC) search or Extended Global Sanctions Search (GSA) can verify that no employee has been involved with questionable or terrorist activity around the world.
4. Gun violence is a serious issue.
Unfortunately, gun violence is a legitimate concern these days, and incident after incident illustrates how a flawed hire can prove deadly. NICS, or the National Instant Criminal Background Check System, is currently a required step in the process for all guns purchased through licensed firearm dealers. If someone is flagged in the database, they shouldn’t be approved to purchase a gun. The FBI database is based on fingerprint searches, so it’s a good idea to include a fingerprint-based background investigation when you make a new hire. This step can mean not bringing someone onboard who has a violent or criminal past. After all, if the government doesn’t want an individual to have a weapon, you probably don’t want them working for you, either.
5. Lawsuits are prevalent in the corporate world.
You’re trusting your employees to behave appropriately, do their jobs correctly, and treat customers fairly. However, without looking into their backgrounds, it’s hard to verify that they will do these things. This puts your corporation at a serious risk for a lawsuit. Checking potential hires out before you bring them onboard is a good way to safeguard against this threat, which could be damaging to both your bank account and your reputation
6. You need to ensure a quality product or service.
Your clients deserve the best. Expert knowledge, great service, and high-quality products are critical aspects of your company’s reputation. A thorough pre-employment screening can help to verify that new team members will meet company expectations and help to further your mission.
7. Hiring a mistake is extremely costly.
As you may know, hiring a mistake can cost your company as much as $8,725. When you consider the fact that the cost of a thorough background check can be as low as one-tenth of this, it makes the need for vetting employees clear. Here are some of the costs you may not have considered when you thought about the hiring process: advertising the position; screening applicants, scheduling interviews, discussing applicants; three months salary while training; benefits; drug tests; uniforms, business cards, and office supplies; licensing; relocation reimbursement; and supervisor’s training time. There’s no question about it–time and money are valuable for corporations. Paying a little upfront to avoid an issue later is a no-brainer.
For additional information about background investigations, contact Alliance Risk Group today! We are experts when it comes to the background check process. We would love to answer your questions and help you to set up background investigations on any pending applicants.
If you’re interested in reading more blog posts on background investigations, we invite you to do so here.