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Hiring a new employee can be a joy-filled sign that your company is expanding. It can be a sudden disruption that has to be fixed immediately. Or it can be another situation entirely. The one thing you can count on – it’s going to take time and effort the complete the process of finding and onboarding a new hire.
Don’t let the exhaustion of completing this task keep you from finishing the onboarding process with exacting detail. Here are three essential reasons you need to run an employee background check for every member of your company.
According to the Society of Human Resources it takes 42 days and $4,129 to hire a new employee. That average cost can escalate dramatically if you are flying in candidates from distant locations or using an executive search firm to find the perfect fit. Those thousands of dollars are wasted if a red flag emerges after the hire, or worse, if the new hire has to be terminated for behavior a background check could have helped identify.
What if you hired someone with a DUI who had to frequently get on the road for business? If you find this information after the employee has already been onboarded, would you feel comfortable removing them from their position, or putting the fate of your business in their hands? A background check would have given you relevant information to make a smarter and easier decision.
If you put someone with a criminal record in the position to cause further harm, you and your business may be found partially liable. Background checks help you protect your people, your business, and your reputation.
Employee background checks are very useful in identifying an applicant’s run-ins with the law, and they are also valuable in identifying some signals of financial instability. A thorough background check may include declarations of bankruptcy, liens, and credit history. This data helps managers choose how much trust to place in an individual. Financial pressures drive many people’s behavior, and an employee may have their access to sensitive materials or company funds restricted if they have a volatile relationship with money.
You have to check each and every employee. When anything gets through the cracks, it creates a distracting amount of risk. You need…
Any concern that takes attention away from managing and growing your business should be eliminated. No one tool can guarantee a complete elimination of risk, but executing background checks on every employee can give you the satisfaction of knowing that due diligence has been completed.
One solution to make sure that a thorough background check is executed for every hire is to automate the process and monitor it within a comprehensive Applicant Tracking System. Applicant Tracking Systems can simplify and manage every part of the hiring and onboarding process.
An added benefit of utilizing an Applicant Tracking System is the integrations that are possible between Applicant Tracking and Human Resources Management. Unifying your business tools minimizes time wasted with duplicative data entry, while also minimizing the opportunities for making errors.
Future Systems is ready to protect your company by executing comprehensive, secure, and reliable background checks. These can be done as a standalone service, or integrated into our wide range of business services, like the Applicant Tracking System. Contact us today to learn about the high-value tools that can improve your workflow, your security, and your profitability!