Why Hiring Based on “Instinct” Alone Comes at a Steep Cost
Jim works full-time as a recruiter for a financial firm. The company recently lost a few critical employees, and Jim is facing pressure to find new hires fast. To meet these demands as quickly as possible, Jim decides he will forgo background checks when considering candidates to reduce the length of the hiring process. Jim’s strategy succeeds as the company swiftly welcomes three new employees.
Based on what Jim perceives about these candidates, he anticipates each will be valuable to the team. Ultimately, however, the company will remove two of these three employees less than one year after onboarding, costing the business significant money in the long run, damaging morale, and tarnishing the organization’s overall reputation.
Why do unfortunate situations like this one occur? Because people like Jim mistakenly rely on “instinct” to hire candidates without verifying their self-presented information.
How can businesses learn from this hypothetical (but very plausible) scenario? By recognizing the critical role of background screening in ensuring accurate and complete information about your ideal candidate.
The argument for background screening
As illustrated by the story above, certain companies will refrain from conducting proper background checks to speed up their hiring process or save money in the short term. However, doing this poses a considerable risk, as reconciling a bad hire is much more costly than securing a good one.
Employing a dishonest, unscrupulous, or unqualified candidate has numerous negative consequences for your business. Firstly, a bad hire can disrupt company morale and cause a downturn in overall employee productivity. This could, in turn, lead to a downgrade in the quality of your company’s products or services, resulting in significantly decreased revenue. In addition, failure to background check an employee with criminal or fraudulent history could put your personnel’s safety or the fate of your company at serious risk.
Considering all of this, partnering with a background check provider such as Authentica is the wisest way to ensure that the thousands of dollars you spend toward each of your new hires are worthwhile investments.
Choose Authentica to avoid costly hiring mishaps and keep your company safe.
When you select a background screening provider, you optimize your hiring process and protect your business without adding unnecessary delays. Hiring with confidence shouldn’t be an inconvenience, which is why Authentica has provided efficient and cost-effective screening services for over 25 years. With our completely mobile and user-friendly platform, an extensive array of information about your candidates is available at your fingertips. Plus, our team of experienced professionals stays current on emerging regulations so that your employment screening maintains compliance. Let us help you secure your next hire, and contact us for a free demo today!