The business world is more competitive than ever before. There are more opportunities than ever to grow your business, but you need to ensure that you’re hiring the right people to capitalize on those opportunities.
Background checks are an important part of ensuring that you’re hiring people who are trustworthy and qualified for the job. By screening potential employees, you can avoid hiring anyone who could present a risk to your company or clients.
With so much at risk, businesses must take time to thoroughly investigate applicants’ backgrounds. This will assist them in avoiding potentially expensive hiring mistakes.
Minimizing Employee Theft and Fraud
According to Business.org, 22% of small business owners have experienced employee theft in the past year. This figure indicates that the problem is widespread, and it’s not just happening at big corporations. It’s happening in small businesses too.
With tools like background checks at their disposal, businesses can effectively cut down on employee theft and fraud. If a business is looking to hire a new employee, it can use a background check to ensure that person has not been convicted of any crimes that could be damaging to the company.
For example, if an applicant has been convicted of embezzlement in the past, it may mean that they are more likely to steal from their current employer. A simple background check can help employers weed out these individuals before hiring them and putting their business at risk.
Additionally, background checks can help employers make sure their employees are not committing fraud against the company while they are on the job. This can help prevent losses from occurring as well as protect the reputation of companies that use this practice regularly.
Screen for Dishonest Individuals
As a business owner, it’s your duty to hire candidates with flawless backgrounds. You want to be able to trust the employees who will be handling your finances, your products, and your reputation.
That’s why it’s important to perform background checks on your new hires. These checks can help you identify dishonest individuals who may be applying for a job with your company or even identify employees who are stealing from you right now.
For example, Ohio, Texas, and other states have been witnessing a large number of cases of employee stealing. These cases generally involve employees who have used their position at their jobs to steal from the company and then leave the company before they are discovered.
For instance, in Clark County Common Pleas Court, Robert M. Vanderhorst, an Ohio public employee, was found guilty of committing two felony counts of theft and theft in office from 2005 to 2021.
Performing an Ohio background check for employment can help prevent this type of employee theft from happening in your business. By performing background checks on all of your employees, businesses can identify potential risks early in the hiring process.
These types of crimes can cost businesses millions of dollars each year if not caught early enough. Thus, businesses need to understand how background checks can help them keep their business safe from these types of charges.
Identify Candidates With Undesirable Traits
The job market has gotten more cutthroat in recent years. Businesses need to implement a strict hiring strategy now more than ever.
One way to ensure that only the most qualified candidates are hired is through background checks. Background checks help businesses identify candidates with undesirable traits.
In a recent survey conducted by StandOutCV, more than half (55%) of respondents admitted to lying on their resume at least once, which suggests that 42.5 million Americans may have lied their way to employment by 2022. This means that there are potentially millions of employees who could be fired or removed from their positions due to poor performance caused by dishonesty on their resumes or during interviews.
That’s where background checks come in. Background checks let you identify candidates with undesirable traits, like lying about their past before they join your team. This will help you avoid bringing them on board and wasting resources on training them only to find out later that they’re not who they say they are.
Stay Compliant With the Law
According to Business Market Insights, the North American employment screening services market would reach $3249.28 million by 2028 from $2090.23 million in 2021. This figure signifies that more companies are realizing the importance of having a thorough screening process for new hires, and it’s easy to see why.
When an employee is hired without doing due diligence on their background, it could put your company at risk for lawsuits and other legal issues down the road. A background check can help you avoid these problems so you can focus on running your business instead of worrying about what might happen later on down the line.
Moreover, when it comes to hiring new employees, it’s important for businesses to be aware of their legal duties. A company can be held liable if they do not comply with all federal, state, and local laws regarding background checks on new hires.
Summing Up
Today, background checks are the cornerstone to the success and profitability of any business. They can help you avoid hiring people with a history of drug use, violence, or theft. They can also help you screen out potential employees who have committed crimes that would prevent them from working at your company legally.
Background checks on new hires allow you to make informed decisions about whom you hire and how you manage them throughout their employment. This will help you create a secure workplace for all of your employees and clients.
