In today’s slower economic market, with the unemployment rate remaining consistently high, organizations are finding it increasingly more difficult to find the right candidates for staffing needs. As more and more candidates apply for positions, your chances of a bad hire increase quite a bit.
A study done by CareerBuilder.com last December showed that 69 percent of employers reported their organizations were negatively impacted by a bad hire in 2012. 41 percent of those businesses estimated the cost of a bad hire to be over $25,000. Twenty-four percent said a bad hire cost them more than $50,000.
The study showed that at least 31 percent of those bad hires could have been averted had the company had the proper talent intelligence and references checked. An additional 26 percent of employers couldn’t identify why they made the bad hire, but its’ safe to assume they wouldn’t have made those decisions had they had an adequate background on the candidate at the time of hire.
- A well designed background screening program can help your organization avoid bad hires and resulting negative impact by:
- Validating information provided by candidates
- Ensuring your new hires have the right background
- Reducing your risks of negligent hiring
- Creating and maintain a safe workplace environment
- Reducing losses from employee theft, drug abuse, turnover and absenteeism
- Reducing incidents of workplace violence
- Minimizing internal fraud
The aim of any well designed comprehensive background screening solution is to ultimately lower your organization’s exposure to risk and litigation, while helping you comply with laws governing the use of consumer reports. Don’t leave your business or organization at risk. Learn more about Active Screening may be able to help you design a custom program to fit your organization’s needs.