Over the past decade, the consumer reporting and background screening industry has seen significant growth. With growth typically comes competition, and with competition usually comes aggressive pricing. The cost of a criminal background check can vary by search type and by screening company (aka Consumer Reporting Agency - CRA). This post is to provide an estimate of what employers and landlords can expect to pay when conducting employment and tenant screening.   

As hiring managers or HR professionals, you're not only tasked with hiring the best and brightest but also doing it correctly. With FCRA class action lawsuits, changing legislation and candidates reviewing your hiring process online, your job responsibilities are heavily scrutinized and could put your employer at risk. Choosing a partner to assist and educate with compliance during your hiring process can help minimize that risk. 

Here are best practices for choosing the best employment background check company.

According to a 2018 study by the Society for Human Resource Management, 73% of human resources professionals say their organizations run background checks. While this is good news for mitigating risk to businesses,  that means that 27% of companies aren't screening before hiring.

While some employers may tout cost as a reason for skipping background checks, the cost of a bad hire can be even more expensive. Other organizations may hesitate due to the challenge and effort involved in finding a quality screening partner that can also help with compliance. VeriFirst can help offer easy background checks for employers, while being cost effective and compliant.

Employers have discovered that it's more important than ever to run background checks. Unfortunately, businesses of all sizes are still foregoing employment screening due to cost. Considering the cost of non-compliance lawsuits or negligent hiring claims, employers would be wise to investigate why their background screening costs are so expensive. Working with a trusted, professional background check partner can be helpful to saving time and money.

Here's how background check packages help reduce costs and increase compliance for HR.

Background check costs shouldn't be a fortune (but they could save you one!).

Consider the thought of running background checks on a potential new hire. Did you cringe a little? If so, there's a possibility that you may opt out of background screening altogether. In fact, one of the main reasons some companies avoid background screening is due to cost.

Here's the thing - background checks shouldn't cost your company a fortune. In fact, opting out of a background check can lead to both a time and money suck for your company. 

Background screening can actually be an affordable way to keep your company employees safe and save money along the way.

The holidays are approaching and ecommerce and brick-and-mortar retailers are already hiring for the season. Some retailers also employ some of the same individuals as previous seasons. With the mad rush of seasonal hiring and the familiarity of previous seasonal employees, background screening may be skipped because it costs too much or takes too long. Employers must consider that 30% of merchandise or cash stolen is due to employee theft. Even a temporary or trusted employee can cause damage to a retail business' bottom line, reputation, and more. 

Retailers: Is it time to screen or rescreen seasonal employees? Here are some questions to consider to understand why background checks are important to seasonal hiring.

Background checks are more common than ever, not only to employers, but also landlords, businesses seeking to verify customers, non-profits, lenders, law enforcement, and anyone who requires validation of personal safety. These screens offer valuable insights during important decisions including verification of identification, employment, and trustworthiness. With the growth of the market, the cost of a background check can vary depending on many factors. Read on to learn more.

When it comes to determining a budget for background screening, employers must look within. Employee turnover will be drastically different depending on the type of business, the typical ages of employees, the growth or downsizing of the business, if the business has been acquired or merged with another business and more. Even with all of those variables, there is a logical way to determine a background screening budget for your business. 

Budgeting for employee background screening can be achieved with the following considerations.

In the age of the internet and free information, a point of frustration for some business or property owners is paying fees to background screening companies. After all, data seems to be readily available if you simply take the time to look for it. In fact, this is one of our most commonly asked questions. As is our usual VeriFirst style, we aim to educate and be transparent to clients who use our service.

Allow us to explain why professional background screening companies have access fees.

With negligent hiring claims on the rise, more organizations are considering background checks for both current and potential employees. Background checks should be a logical step during the hiring process, especially those who will be in contact with the elderly or children, but the cost may be considered a hindrance. It doesn't have to be.

Keep your company safe with these tips to reduce the cost of background checks.