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Subscribe to Microfax and gain access to employee verification services, DMV Records, Credit Checks and more! |
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| Why Prescreen? |
The impact, both on internal and external relationships of placing the wrong person in a position and having to replace staff can be severe and have potentially high financial consequences. Considerable time and money can be saved by taking care in this sensitive area, with the cost of a typical background check at only a fraction of the total cost of recruitment. BackgroundChecking.com represents a cost-effective method to significantly reduce the risk of taking on an unsuitable candidate.
Know that the people you recruit are who they say they are with Microfaxinc.com.
Current Statistics
• The Society for Human Resource Management states 45% of all resumes contain one major fabrication.
• The Wall Street Journal said that 34% of all application forms contain outright lies about experience, education and the ability to perform essential functions of the job.
• College and University registrars report that at least 60% of the verifications they receive contain falsified information.
• The Small Business Administration said that employees at all levels falsify their backgrounds.
• The American Management Association and the U.S. Chamber of Commerce said that 30% of all small business failure is caused by employee theft.
• According to the Bureau of National Affairs, from $15-25 billion is lost each year due to employee theft.
• Nearly 2 million workplace violence incidents occur annually, according to U. S. Dept. of Justice, Bureau of Justice Statistics
• Workplace Violence Research Institute states that lawsuits filed against employers typically result in out-of-court settlements of $500,000 and jury verdicts of $3,000,000.
Today, employers are increasingly turning to pre-employment background screening to minimize legal and financial risk to their companies. No longer can a company take an applicant at face value. For employers, backgrounds checks are a necessity.
Benefits to Pre-screening Applicants
• Discourages applicants with something to hide.
• Uncovers falsified or "puffed" credentials.
• Eliminates uncertainties in the hiring process.
• Demonstrates due diligence.
• Encourages good applicants to be honest and truthful.
• Saves money and time spent in recruiting, hiring and training.
• Can help protect against negligent hiring lawsuits.
• Reduces chance of injury to employees.
• Reduces employee theft.
• Reduces turnover.
• Reduces workplace violence.
• Reduces insurance premiums.
• Increases productivity and employee morale.
Pre-screening Is Cost-Effective
With the cost of hiring a new employee averaging over three thousand dollars ($3,000), less than 3% can be attributed to the amount of a standard background check. A bad hire can mean an estimated loss to companies of approximately $40,000 in severance pay, training, wasted human resources time, possible search firm fees, loss of productivity, and impact on employee morale. The expense of a bad hire far outweighs the cost of a background check.
As with insurance, each employer must decide the level of protection they seek. Usually, the average cost of a background check is equivalent to the cost of a new employee's first day of work.
PLEASE NOTE: The information provided herein is not intended to be legal advice. All legal concerns and questions should always be referred to your attorney. The information is based on typical industry standards and commonly accepted Human Resource practices. This information highlights important areas regarding background screening.
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