Are availing services from Third Party Verification Companies really good?

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In this day and age, running a pre-employment background check is extremely important to lift the odds of making a good hire. This factor is worthy to get attention because whenever a company makes a bad hire, the productivity levels drop drastically.

With time, appointing competent candidates has become a laborious task as most of the job interviewees provide embellished information during the interview process. If industry reports are to be trusted, 53% of job applications consist of fake information. To keep away from the hassle of making a wrong hire, multinational organisations avail services from third party verification companies.

Unlike MNCs, small business owners generally have a confusion whether they should avail services from 3rd party verification companies or not. By writing down this blog, we would tell the 3 major benefits of availing services from TPV companies. So, take a look:

1.    Get the real information

To improve business growth, it is prominent to get dexterous employees on board. Owing to the same reason, companies go through job portals and choose those job candidates’ resumes that meet the selection criteria. During the interview process, educational and work history mainly get checked as both of them matter most from the business’s point of view.

After checking the work experience and academic achievements of potential employees via resumes, employers often take the hiring decision. Because of this, sometimes work-related issues take place in the later stages. Why? The major reason behind this is that resume falsification rate which is snowballing on the regular basis.

Here, approaching third party verification companies could be fruitful for business owners. It is so because the former knows how to bring real information related to potential employees’ work and educational history to light.

Thus, if you don’t want your business to face the negative consequences of a wrong hire, always avail services from third-party verification companies.

2.    To stay away from employee churn

To lift the longevity of the business, it is important to ensure a long-term relationship with employees. This factor can’t be taken lightly because whenever a loyal and hardworking employee leaves, the overall productivity of the business is more likely to suffer.

Generally, the problem of high employee turnover arises because of making a bad hire. There is no need to be surprised because if the appointed candidate has a criminal history, there are high chances that he/she may start disturbing the personal life of other employees. As a negative consequence, this enhances the employee turnover rate.

At this juncture, the prominence of third party verification companies increases as they perfectly run a criminal background check on potential employees. Plus, they make sure that legal issues don’t take place because of the violation of EEOC (Equal Employment Opportunity Commission) policies.

Furthermore, TPV companies also verify that the educational background of potential employees matches with the job profile. As a positive outcome, it improves the quality of hire. So, it wouldn’t be wrong to say that availing services from 3rd party verification companies could be beneficial for businesses.

3.    To lift the percentage of quality hire

As we have already stated that, appointing ideal candidates is vital for all those companies that seek better growth for their business. For the same reason, organisations don’t hesitate while investing a good amount of money in the hiring process. But the factor that raises the problem of a bad hire is ‘Not conducting a pre-employment background screening.’

Whenever a company appoints a wrong candidate, he/she cannot be fired from the job immediately as this may affect the business’s reputation. And keep continuing with incompetent employees simply means letting the business’s productivity go down. Therefore, it is extremely important for businesses to bag the services of third party verification companies in order to stay away from the disadvantages of making a bad hire.

All in all, businesses can lift the percentage of quality hire by availing employment verification services from a reputed vendor.

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