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Analyzing ROI on Your Background Screening Program |
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Some organizations conduct pre-employment background checks as a contractual or regulatory obligation. Other corporations judge pre-employment screening as a collateral expense. Executive leadership may acknowledge their legal responsibility to mitigate risk, but they're quick to point out it represents a significant investment in time and money.
Any company can quickly start to question if background screening is really worth it. How much actual dollar value does a background screening program deliver? -
The typical organization loses 5% of revenue each year to fraud. It takes time and effort to recover the money stolen by perpetrators, and many organizations are never able to fully do so. 58% of victim organizations never recover any of their losses due to fraud, and only 14% make a full recovery.
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The cost of replacing an experienced worker who doesn't work out can cost 50% or more of that individual's salary, and these costs go up if the employee has specialized skills such as nursing.
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Let's take a break from the action and look at some job applications where, through good intentions or bad grammar, some candidates just missed the mark:
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Aurico and its employees are not attorneys and cannot provide legal advice.
Information contained in this newsletter should be reviewed in consultation
with your counsel. |
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