We talk a lot on this blog about the importance of employment screening when looking to fill in a position in your company. We emphasize how hiring the right people can take your business to the next level.
Today, we take a look at how background checks help with not only hiring the right people, but also make you more money.
Businesses and especially small business owners – who are often on a tight budget – skip the background check process when they need new people for their teams. While every dollar counts for a small business, employment screening isn’t one of the places where you should be tight.
There are many reasons why a small business would skip a background check. These include:
- Complicated websites making it difficult to choose the right background check
- It’s expensive
- Some feel these types of security checks aren’t necessary
While background checks can put a dent in your budget, they are extremely necessary and will save money in the long run and make you money overall.
So, let’s see how doing your due diligence when it comes to hiring the best candidate for the job can make your business more money.
Why Doing Employment Background Checks Makes You More Money
1. Professional Services Are In-depth and Efficient
If you’re tempted to do pre-employment screening yourself, only because you’ll save a few dollars, don’t. It will cost you more in the long run.
In particular, the added cost is due to the extra time it will take to do the groundwork yourself as well as the chance you might miss critical information that would affect your hiring decision. This leads to a costly hiring mistake.
Instead, hire a background-screening specialist. They will find out everything you need to know about your candidates. They will do it faster and better than you because they have the experience and resources to do it and it’s their job day in and day out.
Screening firms’ checking goes beyond a candidate’s references and employment history. They can find out if your candidate has a history of drinking and driving, look at criminal records, drug test results, education, bankruptcies and income history. The firms also provide you with job-specific background checks too.
Hiring the right people for your business increases your team’s professionalism and it saves you time and money (you can save up to 50% of the individual’s salary).
2. You Can Avoid Lawsuits
Hiring the wrong people affects not only your business in terms of money, but also the rest of your team.
If you fail to do an appropriate employment background check, you may find yourself and your company vulnerable to lawsuits. These can come from employees and even customers who’ve been hurt by a violent employee.
By hiring a professional service that can do a check faster and better than you, you’ll help your business in the future avoid any lawsuits.
So you see, spending a relatively small fee at the beginning of the hiring process can bring you more money in the long run.
We’d love to hear from you: what’s you process for background checks?