Are background checks part of your company’s pre-hire procedures? If not, they should be because the cost of hiring the wrong person can be high in more ways than one.
You invest a lot of time and money into hiring the right person for your company: running ads, recruiting, reading and sorting through resumes, narrowing down the candidates, arranging phone interviews, live interviews, second interviews, calling employers and references, completing new hire paperwork, checking identification, completing tax forms and more forms. Then time spent training and educating the individual to your company’s way of doing business while he is being paid a salary. All this time involves other productive employees and occurs before there is any production at all from the employee. The Department of Labor estimates that it will cost one third of an employee’s salary to replace him and that figure goes higher with the relative position of the employee.
Plus, there are non-quantifiable losses when the background checks fail to eliminate an undesirable candidate. Loss of morale within the company being shorthanded again, or even loss of customers, cash, or other assets are examples.
And when the problem employee is finally gone, the process begins again.
The current economy has produced a large supply of applicants for every open position, and all the applicants want to appear as appealing as possible. Use comprehensive background checks, personalized for your company’s unique requirements, to fine the applicants most suited for your team.
Call 1-770-426-0547 or click here to discuss how you can lower your hiring costs through the use of background checks.
