Frank’s Friday Words of Wisdom 18.0

Frank’s Friday Words of Wisdom 20.0

Words of Wisdom and Inspiration for the aspiring entrepreneur from Frank Covich, Founder of the National Association of Independent Business Brokers (NAIBB)

by Frank Covich

Why Should You Run A Background Check For All Of Your New Hires?

These are a few very important reminders!

* Immigration Laws – It’s up to you to know the real status of your employees and people you trust.

* Verification of Social Security Number – It is extremely important to know if the person who you are hiring is the person you are hiring.

* Criminal history and status of a potential employee – You need to know if you have a career criminal looking at your data, handling your financial information etc.  Did you know that up to 25% of job applicants can have a criminal record?  In addition, if you should also check and do a Google search on the person’s name, address and city to see if they have ever been investigated or prosecuted but not charged.

Get the right person for the job.

* Verification of past employment/education – 40% of resumes contain material lies or omissions about education, past employment, or qualifications.  Be sure to reduce costs associated with bad hiring lawsuits, theft, fraud, embezzlement, turnover, bad publicity, lost customers and so much more.  According to a recent study, 67% of job applicants and resumes in the U.S. contains misrepresentations.

* Avoid neglect hiring – New litigations regarding suits concerning employee violence in the workplace put the business owner in jeopardy if screening was never used to protect the workforce.

What is neglect Hiring! Negligent hiring is defined as an employer’s failure to exercise reasonable caution when hiring an employee. Today, courts are increasingly holding employers financially and legally responsible for illegal or violent actions by employees who were not subjected to reasonable pre-employment screening. Basically, the courts are declaring that the employer is legally responsible for what they know and what they should have known about their employees. If an employee cause’s harm to another employee or customer, and the employer knows or should have known that the individual was a risk–the courts have found the companies liable–and can require the company to pay thousands, hundreds of thousands, or even millions to the plaintiff. Employers in negligent hiring cases lose over 70% of lawsuits

* Sex offender status – If you hire people, you should be aware of the status of an offender in the workplace is important to know for many reasons.

* Save money long term – The U.S. Small Business Administration reports that For every dollar an employer invests in employment screening, the return on investment ranges from $5 to $16 resulting from improved productivity, safer working environments, reduced absenteeism, lower turnover, reduced insurance premiums and decreased employer liability. According to a national survey, American retail employees stole $10.4 billion in a one-year period. – University of Florida many of these thieves are career criminals.

* Other need to know information – As an employer, there are other important protection needs some involving your insurance programs. You may need to check on driving records, abuse situations, and eviction past public information on employees who have an extensive record of claiming job injury. Check and see if your insurance company offers discounts if you have a formal background screening program.

As a consultant to the background screening industry, I strongly endorse the company Coeusglobal.com protect your new business with an easily established background screening policy.

To consider my program on expanding into the science and art of business brokerage, please visit BeBizBroker.com  to examine other great business programs please visit www.shopabizop.com

Start your own practice fast, economically and with total confidence.

 

All the best,

Frank Covich

February 4, 2019

VISIT MY LISTING ON THIS SITE

Sources: American Psychological Association and U.S. Small Business Administration

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