- Posted by: adminbb
- Category: International
How confident are you that all your company’s representatives are diligently upholding your brand’s reputation?
Relying solely on in-house recruiters to carry out thorough background screening checks on every single employee as well as vendors, contractors and subcontractors puts you and your company at risk of significant losses.
Benefits of Vendor Background Screening
- Streamline your hiring and vendor outsourcing processes
With the average job opening attracting more than 250 applications and typically taking more than a month to hire an employee or contractor, streamline your process by outsourcing some or all of your vendor background screening.
- Know more about the people and vendors representing your company
Recruiters sifting through hundreds of resumes may spend only a few seconds studying each one. Outsourcing a third-party organization to do thorough background checks can procure valuable information that could be easily missed by a small recruitment team under pressure.
- Have peace of mind about your contingent workers
Although independent contractors, consultants and casual workers are not direct employees, they do directly represent your brand, so you should hire them with the same stringent background screening carried out on your direct employees.
- Ensure regulatory compliance
Multinational companies – especially those in highly regulated sectors such as financial services, legal services and security – have to comply with national immigration and labour laws such as the UK’s right to work legislation under the Immigration, Asylum and Nationality Act.
- Get a return on investment
When all your candidates are properly screened with a robust background checking process you get valuable return on investment with vendors that enhance your brand’s reputation.
Consequences of Inadequate Vendor Background Screening
- Potential financial losses
Your company could lose money that would have been saved with diligent vendor background screening if a company representative commits fraud or is working for you illegally or has a criminal record.
- Risk damage to your brand’s reputation
Your brand reputation in the eyes of your customers, stakeholders and the market as a whole can be easily tarnished by someone representing your company that has not been properly screened with a background check that might have revealed a criminal record or a history of negligence.
- Personal liability risk
Company directors can be disqualified if company representatives are found to be working illegally.
Vendor Background Screening Options
There are three main options for multinational companies when outsourcing vendor background screening. These are:
- Loose Management
Recommend to your vendors that they use your preferred vendor background check provider.
- Mandated Management
Insist that a company you sponsor uses your preferred background check provider. The sponsor company reviews the background checks and hires based on their own criteria.
- Full Management
In this case, a company that you sponsor is mandated to use your preferred background check provider but isn’t usually actively involved in the background check process. Instead, the sponsor usually provides detailed information on the kind of background check that needs to be implemented on the workforce.