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Why Background Checks save you Money

Posted by Ryan Howard on Thu, Oct 09, 2014

Why_Background_Checks_Save_You_Money

One of the most important business decisions a company can make is to hire the right person for an open position.  Business owners and hiring managers must carefully evaluate a candidate’s experience, skills and education to help determine their qualifications.  An employment background check can help your company hire fully qualified employees while saving your company money in the long run.

The Real Cost of a Bad Hiring Decision

There are significant financial implications of hiring the wrong person for your position:

  • Decreased morale due to the bad hire which in turns affects productivity
  • The time and money spent to train the employee that does not work out
  • Time and money spent to recruit and refill the job opening
  • Increased workload on other employees while a new candidate is found and while the new employee gets up to speed
  • Decreased client satisfaction or missed sales opportunities due to not having the right person in place.

The Benefits of an Employment Background Check

When employment background checks are used as a part of the hiring process, applicants tend to be of a higher quality and are less likely to be deceptive. Background checks improve the quality of the candidate pool and enhance the hiring process by providing an additional source of information on the candidate’s background. Additionally, a thorough background check can identify and avoid candidates with criminal backgrounds. 

Individuals with criminal backgrounds may be more likely to commit workplace crimes including violence and theft. As an employer, one of the most important things you can provide is a safe work environment for your employees.  Background checks help to achieve this. 

In addition to outlining a person’s criminal behavior, an employment background check can verify previous employment and education.  This added layer of protection can identify applicants who have been dishonest about their experience or education.

Types of Background Checks

A leader in the field of managing risk, VeriFirst offers a number of screening tools to fit a variety of needs and budgets.  Available options include:

  • Verification of an applicant’s identity
  • Credit report and financial information
  • Drug screens
  • Criminal records search for the county, state and federal crimes
  • International criminal records search
  • Employment verification
  • Educational verification
  • Professional license verification

For additional information on how performing an employment background check can save your company money, contact the experts at VeriFirst today.  VeriFirst is a national leader in the field of background screening and specializes in providing screening solutions that are tailored to the unique needs of each client.  

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Topics: Employment Background Screening, Cost of a Background Check