As an employer, selecting an appropriate level of background checks to perform on prospective employees can be challenging. Whether you are screening applicants for the first time or reevaluating your current background check approach, there’s a delicate balance between how much is too much, and when is it not enough.
Why run background checks? To know more about who you are hiring! Screening identifies dishonest candidates who misrepresent their credentials and falsify information. Employers also have an inherent responsibility to protect their most valuable assets – their employees and internal resources – against workplace violence and theft. If you could have anticipated an event before it happened, it’s an employer’s responsibility to act.
While a comprehensive screening approach is important, employers just can’t throw the kitchen sink of background checks at every candidate. That would be cost-prohibitive, time-consuming, and a compliance problem. Yet, you don’t want to cut every corner because shortcuts have an expense, too.
What do bad hires cost an organization? Certainly, the time and effort of recruiting, onboarding and training the wrong person. There is also the financial impact related to low employee retention and high turnover. Top performers won’t stick around if they lose confidence in the work environment and company culture. And in extreme instances, such as workplace violence, your background screening process – and the corresponding financial impact and organizational liability – will quickly come under the microscope.
Committing to a standardized background check package is very similar to purchasing insurance. Both products bring security to our most valuable assets. With home insurance, you guarantee your financial investment is protected against worst-case scenarios, while having assurances that incidental damages are covered. Insurance purchases weigh the cost of a deductible versus an annual expense, and we compare this against the value of property.
Although there is no perfect formula for selecting just the right insurance or background check package, those decisions can be navigated by assessing risk and cost. What is the right amount of insurance coverage on a vehicle with 150,000 miles? The answer is: it depends on your resources and risk tolerance for different levels of exposure. With an employment screening process, think about the goal. Are you trying to quickly facilitate hiring and onboarding, while still conducting an acceptable background check? Or does your organization or industry require a more thorough and expanded screening process?
Keeping these concepts in mind while navigating the challenge of building or adjusting your background check strategy may help you arrive at the best decision for your organization. And if you have questions, InCheck is always available to help.
Disclaimer: This blog is for general informational purposes only and should not be construed as legal advice.