Hiring a new employee is a significant financial commitment for a business. The hope is that they will stay with the company for the long term and continue to provide good work that positively impacts its growth.
Nowadays, it’s quite challenging to identify trustworthy employees with outstanding skills & abilities from the pool of candidates who have applied for a role. Therefore, the organization must always conduct background verification on potential applicants to go through this in a hassle-free manner, and avoid any surprises later.
Before offering jobs to candidates, partnering with background verification companies to do thorough checks, can help you avoid making wrong hiring decisions. It will reveal any information the person withheld or was dishonest about throughout the interview process, ensuring that your organization only invests in honest and dependable personnel.
What is a Background Check?
A background check is a method of investigating a candidate’s history to hire them. It gives the organization a clear picture of the candidate’s personality and aptitude and confirmation that the prospect is who they claim to be. It also aids in the development of a sense of understanding and trust between a candidate and the employer.
For example, before buying any product, movie, or restaurant, people check the reviews to ensure quality and stability. Similarly, conducting BGV and keeping track of job history, educational qualifications, criminal records, and financial records is always beneficial to the organization.
The company can conduct background checks or utilize services from third-party companies like Repute. This is a vital task. HR teams must conduct a broader search into the candidate’s employment history. But before proceeding, they should have a written consent of the candidates to follow the statutory guidelines and ensure a consistent process without any bias.
What is the Purpose of a Background Check?
Candidates may provide incorrect information that could damage the company’s reputation, something you never want to allow. It could be intentional or unintentional. Since it is the final step in any candidate recruitment process, it aids in making better hiring decisions. Moreover, there are countless incidents in which a background check is beneficial to organizations. Here’s how!
- Job Competence
With employers’ high expectations, limited market conditions, hundreds of freshers looking for a job, and extraordinary qualifications, evaluating an employee’s capability becomes challenging. However, by conducting a background check on candidates, you can determine who is most suited.
- Workplace Safety
The employer’s primary responsibility is to create and maintain a safe working environment that fosters excellent relationships among employees, customers, and visitors. What if the new employee you hired is dangerous or disruptive to your workplace? Therefore, a background check is required to determine whether the person is safe to join the organization.]
- Honesty
While interviewing candidates, an employer evaluates their honesty and whether or not they are suitable for the position. Incorrect information in a resume or during the BGV screening process is a sign of dishonesty and has a negative impact.
- Target Achievement
Employees must actively participate in the process with full enthusiasm for better output to grow and achieve their goals. They should be honest about their accomplishments and strive to provide the best to the firm. On the other hand, the manager can use a good performance management platform to keep track of the employees’ goals.
Advantages of Performing Background Checks
Background checks have always been a helpful approach for ensuring a safer and more productive workplace. Below mentioned are numerous advantages of conducting such checks for your organization.
Your organization can:
- Avoid bad hires
- Increase employee retention
- Improve workplace productivity
- Establish a safer work environment
- Protect the business’s confidential data
- Enhance the quality of the workforce
- Build up a references network
Trends That Emphasize the Importance of Background Checks
- The foremost goal of BGV is to hire a suitable candidate. This entails assessing the candidate’s qualifications as well as their honesty. However, more than 51% of businesses neglect this factor.
- More than 40% of the submitted resumes contain false or exaggerated information.
- An inappropriate background check of the candidate may lead to a replacement within a short period. Furthermore, the cost of bad hires is approximately 3X that of the job’s salary.
- Companies are estimated to lose about 6% of their annual revenue to employee fraud, which is still a flawed hiring process.
Types of checks Performed by Background Verification Companies in India
- Past Employment Record
- Civil Records
- CIBIL Score Check
- Educational Qualification
- Identity and Address Verification
Repute: Smarter Approach to Background Checks
Repute’s SmartOnboard platform offers extensive background checks that allow you to focus on what matters the most: managing your organization’s risk and making the best hiring decisions, whether you are a Fortune 500 company, a mid-size company, or a small business.
The platform utilizes blockchain technology to verify the data provided by candidates at the source, eliminating the possibility of fraud. The automated procedure saves time and works while also reducing inaccuracies that might occur during manual checks. Are you interested in using Background verification services? Contact Repute today to get Background verification services for your business or organization.