When recruiting employees, companies may conduct pre-employment background screening. However, does that really guarantee that the new hires can be held accountable while working at the company?
Many facts prove that companies lose a large amount of money due to bad hiring. According to data from the US Department of Labor published by Forbes.com, the loss due to bad hiring is equivalent to or even more than a third of the company’s initial profits.
The importance of post-hire screening as an advanced checking process
Today, globally, around 93% of employers have implemented background checks as part of the hiring process. However, only about 1 in 5 employers undertake a post-hire background check or post-hire screening.
Some companies that carry out continuous employee checks usually carry out inspections for employees with certain positions. In addition, they also do this for employees who get promotions.
According to data, employees who are full of experience, occupy vital work posts and have access to company secrets actually have the potential to cause greater company losses if they default. There are many cases where companies go out of business when their key employees commit crimes against the company.
The post-hire screening method
The Post-hire screening method is actually not very different from the pre-employment background screening method. The examination includes media checks, criminal records, credit scores, residence checks, and social media activities, to the examination of education certificates if the employee continues their education.
As technology develops, the continuous checking system can use software programs that allow the company to actively monitor changes in personnel risk as it evolves.
The software can automatically collect and analyze risk data from all relevant sources of information, such as public records, documents, criminal records, and credit records, and proactively notify the company management in real-time.
Aspects of checking carried out usually include criminal records, marital status, and banking matters, and no less important are the social media activities of workers. Andrew Selepak, a professor of social media at the University of Florida, believes that monitoring (social listening) employees’ social media activities is an effective way to conduct continuous identity screening.
By 2021, according to data from the Professional Background Screening Association (PBSA), around 19% of global companies have implemented post-hire background checks on their employees. This is an increase of 7% over the previous year.
It is critical to note that this post-hire screening or continuous identity screening system should be adapted to the company’s industry. Each industry has different companies with varying characters and the potential for fraud that can occur in them.
For example, the FMCG industry is vulnerable to brand leakage – which often occurs due to leaks by internal employees. Meanwhile, financial service companies will be more vulnerable to misappropriation or embezzlement of funds.
From these differences, the main concern of this continuous identity screening system is targeting all aspects related to the vulnerability of each industry.
Integrity Asia has more than twenty years of experience in providing background screening services, both in the form of pre-employment screening and continuous background screenings. Screening is done through Prisma, a one-stop platform that can be integrated with your company’s HR information system.
Get more information about continuous employee background checking services to protect your organization’s assets from any potential fraud caused by problematic employees. Contact our customer service for more details.