Background checks are essential for a successful business today. While there are countless trial and paid options online to run someone’s name through, they pretty much all spit out the same information practically anyone can get from public records or a deep social media search. That’s not to say there’s no beneficial purpose for a random check to make sure the person you just started to date doesn’t have a devoted partner and six kids at home. But when it comes to work purposes, more in-depth background checks for employees are crucial. But why should you hire a private investigator for a background check?
A Private Investigator Can Perform Numerous Types of Background Checks
Approximately 96% of employers today perform some type of background screening for their potential and existing employees. Most employers can easily check for criminal records on their own, but the right Michigan private investigator can check and verify so much more. They can also check DMV records, contact former employers, check credit histories, and verify what’s listed on the candidate’s resume is actually true.
A Private Investigator Can Reduce Employee Fraud
Internal business fraud is a serious global issue that can be curtailed or reduced with the right attention. In 2018 alone, occupational fraud cost businesses over $7 billion and approximately 22% of reported cases involved losses of over $1 million. This type of business corruption takes an average of 16 months to complete and can be discovered relatively easily with ongoing or sporadic professional background checks. Yes, it will cost more upfront to hire an investigator, but it can save you a fortune in the long run.
A Private Investigator Can Help You Avoid Negligent Hiring Costs
Pre-employment and ongoing background checks can keep the employees safe and your business running smoothly. Negligence is a serious concern for any business owner. And according to a national study, serious injuries in 2018 alone cost U.S. businesses almost $60 billion. Hiring the right person for the job is a big responsibility and deep background checks for employees are important to ensure the candidate has the correct fitness and knowledge to perform the duties required for their specific job. The extra effort can help employees avoid pain and suffering and help the business avoid future legal costs.
A Private Investigator Can Help Reduce Employee Turnover
All businesses eventually deal with some employee turnover. But when it becomes a regular event, it can be excruciating or even end up destroying the business altogether. Employee Benefit News states that it takes approximately one-third of an employee’s annual salary to replace them if they decide to leave. Examples given on a $45,000 salary come to $15,000 in replacement costs.
Losing one employee is hard enough but multiply that by ten and that will crush any company’s bottom line. One of the main reasons for turnover is due to the employer’s misunderstanding of the employee’s unique abilities or willingness to accept the requirements. A Michigan private investigator can perform the correct background checks prior to and during employment to ensure everyone’s on board and the machine keeps running smoothly. Give us a call when you’re ready to take your business success to the next level.
