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Check out the best background check services for pre-employment screening.

Today’s tendency is for businesses to conduct background checks. Business background checks, like pre-employment screenings, disclose a company’s legal standing and genuineness. It indicates whether or not the company’s claims regarding its services and profile are true. In today’s rising gig economy and remote work culture,there is a growing requirement to ensure that you’re establishing a contract arrangement with the correct businesses, resulting in a need for a trustworthy company background check service. You will learn more about the significance of background check services in this article.

In 2019, there were 20,870 assaults that resulted in injuries or illnesses, an increase over the previous year’s total of 18,400.

The Current Trends In Background Checks

1. Nearly 70 million people, or roughly one out of every three adults in the United States, have a criminal record.

2. There was a difference between the information provided by candidates and what the screening showed in 46% of reference and credential verifications.

3. One or more violations or convictions were discovered in more than a third of driving record checks.

4. In the prior seven years, approximately 6% of criminal history background checks revealed a criminal record (out of the 1.7 million checks performed).

5. In 2018, how long are Americans willing to wait for a company that has extended a job offer to complete its background check procedure before moving on to another opportunity?

Characteristic 18-34 years old 35-44 years old 45-54 years old Over 55 years old Total
1 week to fewer than 10 days 37% 43% 42% 41% 41%
Ten days to less than two weeks 23% 25% 19% 21% 22%
More than two weeks 21% 23% 19% 17% 20%

The General Statistics Regarding Background Checks

Background checks before hiring Coverage of criminal and court records typically extends back seven years, but can extend further depending on compliance laws
Checks for bankruptcy As far back as ten years can be traced bankruptcy
Checks of credit history Checking a candidate’s credit goes back seven years, or ten years, depending on the candidate’s expected salary and specific state regulations
Crimes of violence Depending on the state, felonies may be reported indefinitely or for seven or ten years
Misdemeanors and infractions Misdemeanors can be reported indefinitely or for up to 10 years, depending on the state
Check of driving records Depending on the state, driving records may go back 3 to 10 years
History of education Throughout their lifetime, they can verify it
Employment history It is possible to confirm it at any time during their lives.
Professional license verification It can be validated at any moment during their lives.

Who Needs a Background Check for a Business?

Individuals and organizations planning to enter into a contract or business connection with another company that offers or claims to deliver certain services or sell specific items should do a business background check.

Based on recent reports of fraudulent transactions, it appears that some companies or corporations frequently claim to be something they aren’t, which can result in a waste of time, money, and significant damage to the affected party’s reputation.

How to Conduct Effective Background Checks on Businesses

Registrars of businesses in many nations, such as the Ministry of Corporate Affairs (MCA) in the United States, are a valuable source. Registrars can assist in providing a comprehensive list of registered and incorporated businesses. However, that is essentially all of the information they have to share.

They frequently lack records of critical information such as fraudulent practices, employment policies, the company’s credit history, whether it has been bankrupt or not, company directors and decision-makers, the company’s current financial standing, the value of stakeholders’ investments (if any), and other useful information that can help you make informed decisions about doing business with or working for the organization.

What Are the Advantages of Conducting a Background Check on a Business?

Aside from the peace of mind that comes with validating a company’s legitimacy before investing your money or resources, there are several other advantages to performing a thorough corporate background check:

  1. Avoiding Being Drawn Into Illegal Transactions
  2. Defending Your Personal Or Professional Reputation
  3. Carrying out due diligence and avoiding costly errors
  4. Keeping yourself and your business secure 
  5. Keeping your money safe

The Top 4 Reasons Why Employee Background Checks Are Important, According to Securis

  1. Defend against liability– Let’s say the unthinkable happened, and your data destruction vendor suffered a data breach. You’d probably want to be able to inform your lawyer that your provider went through a thorough screening process for all workers to protect against a data leak.
  2. Protection in the event of a data breach– Most businesses do not want their data to fall into the hands of criminals. Employee background checks are an extra layer of safety against a data breach, as well as a precaution that ensures your data destruction vendor is committed to upholding its duty of care while handling your sensitive data.
  3. Redundancy in terms of security– Data destruction firms often employ a variety of security methods to protect your data, but background checks offer another layer of protection.
  4. Honesty and Ethical Standards– Data destruction firms’ background check requirements are a natural element of their strong commitment to ethical standards, assuring customers of the company’s integrity.

CTA: Keep up the excellent work. Also, stay up to date on our background screening best practices and industry news by subscribing to our newsletter.

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