Businesses can grow manifolds if they are home to competent and trustworthy employees. However, most businesses cannot make this happen. A few organizations counter this by conducting generic screening checks, but these are rarely enough. In addition, having an in-house background verification team adds to the woes by negatively impacting the resources, employees, etc. As a result, many businesses worldwide partner with background verification companies to achieve effective results through exhaustive background screening.
What does an Employee Background Verification Check Cover?
The screening method helps companies know more about a candidate’s educational history, job experience, criminal records, etc. This information empowers them to make informed decisions and hire candidates with the right skills and knowledge.
How is Background Verification Conducted?
Companies typically outsource these checks to background verification companies for a 10X faster verification and onboarding experience. These companies perform end-to-end background checks, including:
- Identity check,
- Address verification,
- Verification of educational qualifications,
- Reference check,
- Past employment history,
- Criminal record,
- Drug abuse test,
- Internal background check,
- Education Check
Why is Background Verification Important for Growing Businesses?
Unfortunately, small and medium businesses often overlook the importance of background verification due to a lack of budget or proper screening tools. They fail to understand that they’re potentially exposing their company to wrong hiring and legal risks. Therefore, it is highly recommended for growing businesses to ensure that they have the best team on board. This can be achieved by performing a thorough background check with the help of an in-house or outsourced team. By outsourcing the process, growing businesses can save capital, enjoy a good turnaround time and ensure high efficiency.
Here’s how employee background verification helps in increasing the profitability of the organization:
Helps in Hiring Skilled Candidates
Employers must carry out background verification for quality hiring. It also helps them make sure that they hire someone who has all the skillset and knowledge required for the specific job role and has a clear criminal record. This is especially essential when hiring for sensitive positions like ones involving finance and anyone who would be handling customer data or interacting with customers directly.
Employee background verification companies use cutting-edge technologies like:
- Optical Character Recognition (OCR),
- Image Recognition,
- Face Match,
- Document Classification,
- Digital Signatures
This will lead to a time and cost-effective screening process.
Better Efficiency
Background verification improves efficiency by weeding out fraudulent candidates who may not be suitable for specific roles. For example, if an employee has lied on his resume about their academic qualifications or prior work experience, they may not be able to deliver results as per the employer’s expectations. Thus, catching these lies in the hiring stage itself is crucial. Right employees set the organization on the path to success. Not only that, while hiring a vendor, it is important to conduct vendor due diligence to ensure that they do not misuse any information provided to them.
Reduce Liability
If an employee causes damages or injury to another party, your business could be held liable for its actions. Employee background verification companies can reduce liability by providing insight into the character of potential employees. Knowing about past incidents such as theft or violence allows you to avoid hiring high-risk candidates.
Final Words
The core of any business lies in its workforce. From small start-ups to large enterprises, the appointment of employees should be made after thorough background checks. Good employees will be loyal to their employers and take pride in their work. This will lead to higher productivity and fewer errors.
