Evolving Generational Values in Workforce Benefit Plans
With five unique generations represented, today’s workforce is more diverse than ever before. It can be challenging for employers to manage each...
3 min read
Luke Runnells
:
Mar 20, 2017 1:00:18 AM
The tangible financial costs of conducting a background check vary with the extent of the information requested. A simple social security number trace and identity verification can range from $2 to $4 while a complete criminal background check including the national criminal database, national sex offender search, county, state, and federal criminal search costs between $25 and $75 dollars.
Credit histories generally cost from $10 to $20, a DMV record will cost between $10 and $20, and an education verification or employment verification costs around $15 each.
Some aspects of a background check are also subject to access fees that are charged by certain local courts and data providers. In many cases, these access fees are wrapped up in a background screening company's price.
In total, a complete background check usually costs between $100 and $200 per candidate, not including pre-employment drug screening.
Such costs may seem significant, especially for small organizations. However, when compared to the potentially higher costs an organization can incur from making a bad hire, or even being subject to negligent hiring lawsuits, the relatively small upfront expenditure on a quality background check is very much worth it.
Like anything in business, it is important to look at the return on investment and the cost-benefit analysis before making a decision. Below are some important stats to consider when weighing the pros and cons of a implementing a background screening program.
While a complete background check may not mitigate all potential hiring risks, it can certainly paint a more accurate picture of a candidate than a simple resume or interview could. Having a thorough understanding of an applicant's criminal past, credit history, education, and past employment not only protects an employer from litigation by showing due diligence but also protects an organization's employees and customers from theft, fraud, and even violence. Adding up the potential tangible losses that are incurred when hiring the wrong employee and the intangible costs of loss of productivity, drop in employee
For more information on the different types of Criminal Records Searches that are available and the pros and cons of each, download our handy infographic!
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