In the past year, the employment market has changed dramatically, with many employers resorting to mass layoffs to hire quickly. Despite this, 70% of professionals believe that virtual hiring will continue to grow, largely due to cost savings and time efficiency. This change within the hiring process can easily lead to a drastic increase in fraudulent activities to secure the upper hand in landing that dream job.
Here are 4 reasons why running an identity check before making that hiring decision is important:
Reason #1: This paves the way for an easier Background Screening Process
Before a background check is conducted, make sure to verify the identity of the prospective employee. Doing so helps ensure that the data collected is accurate and provides enough details to make an informed hiring decision.
Sometimes, people change their name informally. Although this can be very beneficial for them, it can also cause confusion and prevent missing records in a background screen. By enabling identity verification, you can manage your hiring process more smoothly.
Reason #2: Having candidates submit their details ahead of time, it can speed-up the verification process
It might seem like an additional step to the hiring process, but it can actually reduce friction and save time. By automating the collection of data, candidates do not need to enter the same information multiple times throughout the entire process.
Cross-verifying an individual’s identity information against a reliable source can help ensure that the data used for screening is accurate.
Reason #3: Reduce the onboarding time
An optimized hiring process can help you hire faster. It eliminates the data collection points and allows candidates to get through the screening and onboarding faster.
Many companies that screen for identity fraud use the Social Security number trace as part of their verification process. However, it should not be confused with the other forms of identity verification.
Reason #4: Accurate information = Increased Productivity
By validating an individual’s identity at the start of the hiring process, you’re helping to minimize friction and increase velocity.
When people at your organization are less focused on collecting and recollecting information, they can dedicate more time to more profitable tasks.
To learn more about Identity Verification, you can visit our services page by clicking here.