The unemployment rate is on the decline. This downward trend has been present since the onset of the COVID-19 pandemic when unemployment peaked at around 15%. While the current rate isn’t as low as it was pre-pandemic, it is close. A recent survey found that nearly 90% of employers are struggling to fill open positions. The majority of them also see a decrease in the number of applications coming in for hard-to-fill positions.
In a post-pandemic market, eligible workers understand that they can call the shots. They know that many employers are desperate to fill these positions, which gives them leverage to negotiate favorable terms of employment. In this highly competitive environment, many companies fear losing a qualified candidate to a competitor. This fear may lead to hasty decisions. Employers may rush into a job offer without adhering to the rigorous hiring policies and background checks completed in the past. But this would be a mistake.
Hiring the wrong candidate because you did not conduct a rigorous background check could be a huge problem. In certain circumstances, it could even lead to legal problems. For instance, the individual could have a crime on their record that would indicate they may pose a threat to other employees or customers. Or, they could have a history of embezzlement, which opens your business to the potential for huge financial losses. Additionally, hiring a candidate because they say they hold licenses or certifications required may be a huge issue if they do not actually have the required credentials. Your business could be sued for negligence if it is found out that your company didn’t follow up and check on this before hiring the candidate.
Even in mild circumstances, you could hire an individual who doesn’t have experience in the industry despite claims that they do on their resume. And while this might not be a legal threat, it could certainly be a drain on your company’s productivity, efficiency, and effectiveness. This could have been avoided by making a few quick phone calls to previous employers.
It’s tempting for employers to want to snap up any potential job candidate that appears to be qualified for an open position. The current job market means those candidates are few and far between, and nobody wants to lose a potentially great employee to the competitor. But this is not the time for letting your guard down. As you can see, hiring the wrong candidate can be a costly mistake.
Fortunately, there is a way to remain vigilant in conducting thorough background checks in your hiring process quickly. Partnering with a skilled background check company can ensure that this process is streamlined to move quickly without skipping any necessary steps. You can still move quickly when you have identified a qualified candidate, but you can rest assured that the company has verified the following information.
- The candidate’s education, certifications, and licensing reported on their resume match actual experience.
- The employment data provided by the candidate is accurate, and their job duties are related to the industry they claim.
- Previous employers may be willing to discuss performance issues in some cases, which can provide some insight into how well the candidate may fit in with your company’s culture.
- The candidate’s criminal record has no records that would present a risk to your business, other employees, or customers. The criminal record check will go into greater depth for some industries, such as finance and healthcare.
- The candidate’s credit history does not have any record of activities that may prevent them from working in the position. This type of check is commonly required for positions in finance and real estate.
While the biggest benefit of partnering with a background check company is the speed with which they can complete these checks, you can rest assured that they are also very thorough. And they are well-versed with federal and state regulations that come into play when looking into a job candidate’s background. Working with these companies is an easy way to ensure that you won’t face claims of discrimination or non-compliance.
Today’s job market poses a huge challenge for employers. There are not enough qualified candidates, which means employers have to compete to get the right one. But just because this process is competitive doesn’t mean it is a time to let your guard down. You simply have to find a way to do it the right way. For more information about background checks, contact USA Fact today.
USA Fact Global Screening Services provides comprehensive background and criminal checks for employers that comply with federal and local laws. By helping you eliminate high-risk applicants through tailored solutions, USAFact enables you to create a safe and productive work environment and a foundation for future success.