The aftershocks of COVID-19 are still being felt around the world. And it’s too early to know the full effect of the pandemic. However, at some point, it’s inevitable that the world will begin a slow return to business as usual. As part of that transition, corporations, small businesses and everything in between will begin hiring new employees to bolster their workforce. It’s an important process that’s exponentially more challenging because of record unemployment — the number of people applying for jobs will be at an all-time high, which means the chances of hiring the “wrong person” are also increased. That can be costly for any business.
According to the Society for Human Resource Management, a think-tank based in Virginia, the average cost to bring on a new employee is approximately $4,000. And the average company loses from 1 percent to 2.5 percent of total revenue on the time it takes to bring a new hire up to speed. In other words, hiring the wrong person can be a costly mistake. Traditionally, the onus for that process has fallen on human resources professionals. However, their “background” efforts are often limited to online sources and reference checks. That’s not enough anymore. Many companies are now looking to security companies to conduct thorough background checks, similar to what exists at the highest levels of government, because a thorough background investigation reduces the odds of hiring someone who is dishonest, immoral or dangerous.
Buckingham Security believes there are 10 essential steps in a professional background check:
- Verify employment including position, longevity, salary and job performance
- Verify education and academic credentials
- Conduct interviews with references provided by the prospective employee
- Conduct key references not included on the resume or curriculum vitae
- Check criminal record
- Check motor vehicle record
- Conduct a credit check, review compensation and any type of financial information
- Check history online using internet search engines such as Google and social media sites
- Confirm related qualifications for any special requirements of the job
- Arrange for drug screens and physical exams (if necessary for the position)