Why Should You Conduct a Pre-Hire Credit Check?

pre-hire credit check

A pre-hire credit check gives you valuable information about hiring candidates.

There’s a reason that more than half of all companies conduct pre-hire credit checks.  An employee credit report can be key in determining the risk of hiring a candidate, particularly if the candidate is being considered for a role with access to financial information, funds and assets. Discovering that somebody’s credit report is less than stellar after the hire can have tremendously deleterious results.

Credit Checks Provide an Objective Assessment of Applicants
Credit checks can enhance traditional employment decision-making tools by:

  • Quickly verifying and expanding on information you receive from applicants and other sources
  • Revealing conflicting information that may need further review or clarification
  • Providing credit information that would normally not appear on an application but may have an impact on job performance

It could be unwise, of course, to let a credit check alone determine whether any particular person is hired. Traditional tools, such as previous work history, interviews and personal references, are every bit as valid and useful as they’ve always been. But if you’re on the fence about any given candidate, a credit report can be a tremendously useful tool.

What is the Difference Between a Credit Check and a Background Check?

Broadly speaking, a background check is exactly what it sounds like – a look into the applicant’s entire background, including work history, criminal records, school records and so forth. Background checks are a tool to ensure that what the applicant has told you is true.

Credit Checks, on the other hand, focus solely on the applicant’s credit history and, rather than being used as a fact check, provide some level of insight into his or her trustworthiness. If two candidates are exactly equally matched, a credit check can help provide the tie-breaker.

All About AIR Pre-hire

AIR Pre-Hire in Reisterstown, MD, conducts accurate and verified universal background screening, so you will have thorough background checks on your employees. Here at AIR Pre-Hire we don’t simply check the basic information, we dig deep to identify inconsistencies and make sure your potential employees (as well as existing employees) are acceptable for hire. This is the human element of our custom pre-screening service. You can count on us for timely, verified pre-screening and employee re-screening.

Learn more by visiting our website www.air-prehire.com or calling us at 1-800-469-4473. Check us out on FacebookTwitterGoogle+, and Pinterest as well.

 

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