the return on investment when using background checks
TRANSCRIPT
The Return on Investment When
Using Background Checks
The hiring strategy which is the
heart of every Human Resources
or Risk Management is
employment background checks.
Employment background checks
are widely known as a crucial part
of the hiring process designed to
leave out any undesirable
applicants while also representing
a significant cost.
But people are debating and asking
how much do background checks
cost and what value does it deliver?
The payoff of background checks
based on common sense and the
goal of this paper are best
practices.
Turnover of Companies
Turnover is the ration of the number of replaced employees in a given time period to the average number of employees employed during the same time. There was estimation for the annual average total of employment for a country which was at least 138 million employees; the turnover rate is 37 percent that resulted in 53 million job turnovers.
Bad Events
Bad Catastrophic Events happens
when there is workplace violence,
drug and alcohol use, sexual
harassment and accidents that have
occurred due to false qualifications.
These events will result to lawsuits and
negligent hiring litigation that will haunt
employers and will always follow on.
The Whole Picture
For every dollar an employer
invests in background checks,
their return of investment will
range from 5 to 16 dollars that
will result to improved
productivity, lower turnover,
and decrease employer’s
liability and cut out
absenteeism from the picture.
For additional info concerning
The Return on Investment When Using Background Checks,
go to
http://govpublicaccess.com