More Benefits to Employment Screening in Slowing Economy |
 |
January 18th, 2008 -- by Nick Fishman
Is the state of our economy starting to freak you out? Let’s start by saying that I will not profess to know whether we are heading towards a recession, how long our current economic cycle will last and what the overall affect will be. However, it is safe to say that we can all see signs of a slow down. I’m more of an optimist in this regard and think that whatever pains we are experiencing now can and will be corrected shortly. If it hasn’t already, a slow down will eventually have an affect on jobs; specifically they won’t be as plentiful. If and when this happens employment screening is even more important than ever.
Why? First, those that are hired are going to be asked to handle more responsibility. Companies need to get the most out of what they have, so making sure they hire the right people with the right qualifications is all the more intensified. Next, the hard cost of hiring the wrong person will still be there only it will be exacerbated by the fact that there won’t be as many people to fill the hole or pick up the slack. There will be no shortage a resumes for jobs, so employment screening can be even more impactful on your hiring decisions. Lastly, at my company we’ve seen a 56% discrepancy level in resumes related to past employment and education. With more people competing for fewer jobs, exaggerations and inconsistencies will elevate significantly.
What can employers do? First, let’s all hope that whatever slow down we experience is short-lived. Second, addressing your standards or threshold for adverse information might also be a good idea. When you couldn’t get people through the door fast enough, perhaps you hired individuals you normally wouldn’t have be inclined to. With a greater labor pool, you can afford to be a little more careful. You might even consider more stringent vetting. For instance, maybe you didn’t bother conducting past employment or education verifications when getting people hired at a blistering pace was the name of the game. The more information you can get, the more informed your hiring decision.
