Without any doubt, the recruiting team works hard and puts effort by spending the time & resources to meet the needs of the company to help in achieving the goals & objectives. By spending weeks advertising the job, shortlisting the resumes organization, conducting interviews with applicants, and onboarding them. The job of hiring manager never ends.
\The impact could go far from affecting the bottom line to financial consequences. So, the risk will always be there while hiring the new one that employee background verification can help you mitigate these risks.
What is the importance of hiring the Best?
The hiring managers and recruiting team invest their money, time, and resources while hiring the new employees. A wrong hire may cause damage to your organization in many different ways and ultimately the company has to suffer.
The wrong hire can even result to lose the deal. When interacting with clients as they don’t have the proper knowledge and don’t know how to deal with customers. The cost of bad hire doesn’t end here and costs more than this.
In long run, it may even become difficult for the employees and managers to accommodate the low-performing employees. Therefore, it becomes very important for companies to invest in quality candidates to run a successful business.
Cost of Bad Hire to a Company
It’s a great mistake to hire the wrong candidate that surely is avoid. There are many a time when the candidate claims false statements during the interview. The cost of hiring a bad employee can be understandable through the following:
- Decreased Productivity – If you as the hiring manager hire a candidate that is unable to perform the job role properly then a sign of a bad employee. He/she has done resume fraud for getting the job. Over time, it would impact the overall performance of the team and also the company. This results that other employees having to work hard to fulfil the targets. It also demoralizes the employee and eventually leads to decreased productivity.
- Leads to Cultural Imbalance – It’s a fact that the culture of the entire team could be spoiled due to anyone reason that other members can’t add value to the team. To make sure that the new employee is a good fit, you must conduct employee background verification to know all about it.
- Employee Morale Degrade – It’s obvious that due to the lack of talent, skills, and experience the candidate would never be able to perform well which has an adverse effect on the workforce. The most affected thing due to this is the morale of staff. The pressure of the work will be increase and even might cause internal conflicts. This increase the chances that other employees stop enjoying the work. And the environment of the company which may even result that employee will stay longer with the organization.
- Re-Hiring Costs – The cost you have spent on hiring the employees and then replacing them will be increased. It is not easy to create the job description, shortlist the CVs, conduct interviews, make calls, and more. Re-hiring for the same role is not easy and a hectic process.
- Reputation – If the clients are not treated well it may damage the relationship with them and it’s not easy to build the trust again that is broken once due to bad hire. Therefore, the company needs to ensure that the employee. They are representing the business enhance the reputation and handle the clients in the right manner.
What Documents can mitigate resume Fraud?
Companies use various types of identity document verification to avoid bad hire:
1. Address Verification – Address verification is the foremost check in the process of background verification that helps companies to verify the address with that mentioned on the resume. It’s important because candidates sometimes use fake identities. Under this, the documents like license, PAN card, or Adhar card are require to validate the address.
2. Academics Verification – With this verification, the employer gets to know the highest level of qualification of the applicant. Academics check ensures that the employee meets the standard of the company and has relevant knowledge before hiring the one.
3. Employment Verification – One of the most important types of verification, previous employment verification ensures that the candidate has relevant experience. During this check, the new company can get in contact with the previous company for verification of the employee if they want to.
4. Reference Check – Under this check, the hiring company verifies the claims that the candidate has mentioned on the resume and during the interview.
The best way to do a reference check is to ask the candidates the person they have worked with. It gives a great advantage as the hiring person will get to know more deeply about the candidate’s nature, work ethics. And skills in a better way.
- Criminal Record Check – Under the criminal record check the employers get to know if the candidate is not included in any criminal activities in the past or present.
- Drug Verification – No organization hires one that is addicted to some substance abuse like drugs or alcohol that might lower productivity and harm the reputation of the company. Drug abuse verification help know the hiring managers. If the candidate is addict to any substance abuse through certain medical tests.
Employees are the backbone of the company and bad hires could potentially lead to chaos in the organization. It’s very important to hire the right candidate to meet the goals and aims of the company.
However, it may cost high due to bad employee that we already have discussed. You can avoid this through identity document verification during background checks. These days corporate has changed their way and take employee verification as an important part of hiring.
If you to avoid bad hires then do consider employee background verification solutions with Repute that verifies the background in a very professional way. Providing all the necessary data & information of the employee helps in getting the best employee that the company can easily trust.