Jul 20, 2020 MicroBilt News
COVID-19 has turned the world upside down. Since the beginning of 2020, we’ve gone from near-record high employment rates to record high unemployment rates thanks to the devastation pandemic has brought to the nation. Just when businesses were beginning to reopen and people were beginning to return to the office, another rise in confirmed cases of COVID-19 has left many employers scrambling to bring new talent into a well-depleted fold.
You would think a wide-open job market with nearly 20.4 million Americans unemployed would be a huge boon for businesses. It is, on the one hand, but it means businesses must be more selective than ever when hiring new employees. There are many reasons it is so important to screen prospective employees properly before hiring them. These are just a few reasons why it is so important.
With the rise of COVID-19 there has been a significant increase in the rise of fraud complaints across the country. The problem has been so bad that the U.S. Department of Justice has released a statement about the many different types of fraud cases that appear to be growing throughout the crisis.
Business owners and managers must take extra precautions to avoid hiring people convicted of perpetrating frauds against the general public and those convicted of identity theft and other crimes that could cast a shadow on the reputation of your business – especially if they, in turn, commit those crimes against your business or your customers. Fraud prevention is one of the most important reasons for ID verification and pre-employment background screenings.
Protect Your Reputation
One of the worst things your business could experience is a data breach or other catastrophe delivered at the hands of a dishonest employee. Don’t believe for one second that you’re off the hook if you’re a small business. It is even more important for you to hire people who do not have records related to hacking, cyber crimes, and similar activities since Forbes reports that small businesses comprise 58 percent of cyberattack victims.
The article goes on to report that employees are your greatest threat when it comes to cyber crimes (either intentional or unintentional). Unfortunately, most small businesses that are victims of data breaches are never able to recover and go out of business within six months.
Of course, you should wait until you have a short-list of applicants you’re considering for a position before conducting a pre-employment background screening. This allows you to look for red flags that could influence your decision to hire one applicant over another – especially related to criminal histories that may place your business in a delicate or uncomfortable position.
Microbilt is committed to helping businesses, like yours, make sound decisions when extending credit, verifying identities, and making hiring choices. Contact us today to learn more about the services we offer and how we can help you grow your business.