Benefits of Hiring Third Party Background Check Companies in Screening your Potential Employees

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Background screening is a process that ensures a company hires the best employees. The process is sometimes tedious and time-consuming if done in-house. That's why a lot of companies are hiring a third party company to do the candidate screening for them. Third party background check companies are an excellent way for businesses to get their background screenings rapidly, accurately, efficiently and effectively. 

third party background check companies
Third party background check companies

Third party background checking companies usually have access to databases that are sometimes not available to businesses or public sector organisations. These databases allow them to screen candidates more thoroughly. They also have the advantage of being able to screen candidates in multiple languages, in which an individual may not be fluent.

By hiring a third party checker, all your background checking process will be taken care of by an expert, this in turn will enable you to focus on what's most important - running your business / organisation.

Third Party vs In-House Screening

There are many reasons why companies outsource their screening process to third-party vendors. One of the most significant reasons is that the performance ROI is stronger than hiring an in-house team to do the same work. They also offer more flexibility compared with in-house screening services.

third party background check
Third party background check

Outsourcing also allows companies to scale their screening process when needed, which is not always possible with an in-house workforce. As such, a third party can be a better option for a company who wants to deliver greater performance and productivity to its talent hiring and employee screening.

What You Can Expect from a Third-Party Background Checker and How They Work

A third-party background checker is a company that conducts background checks on people, such as employees, volunteers and customers. They are often used by employers to screen new hires or current employees. They are a company that will do all of the work and then report back to you with the candidate / employee information they sourced and assessed.

Third party background checkers are becoming more and more popular because they offer a lot of advantages to both the employer and the candidate / employee. The employer can save time by not having to do their own research, while the candidate / employee gets an accurate report with no bias.

What are the Advantages of Using a Third-Party Background Screening Provider?

There are many advantages to using third-party background screening providers. One of the most important advantages is that these companies provide more in-depth and accurate background checks. They also offer a better customer service experience, which is critical for HR, People & Talent managers who need to rely on their services on a regular basis.

3rd party background check
3rd party background check

Another advantage is the ease of use. With a third-party provider, it is easier to get accurate and up to date information about your applicants by using their cloud software UI, which includes  detailed information about their background.

Additionally, there is no need to worry about the legalities when using a third-party provider. They have all the necessary regulatory paperwork in order and they are legally compliant with all state, federal laws and international laws.

Important Factors to Consider for Choosing the Best Background Checking Company

There are many considerations when choosing the best background checking company. The following are three important factors: 

  1. Price: Background checks can vary in price depending on what information you want to gather and how many people on whom you want to run a search.
  2. Quality of Service: The quality of service provided by different companies can vary greatly, so make sure you research which companies offer the best quality service before making your choice.
  3. Reputation: It is important to find a company that has a good reputation for providing quality background checks so it is important to research on their current ratings or testimonials from past and existing customers.
third party background verification agency
Third party background verification agency

How to Hire a Third Party Background Screening Firm Firms to Perform Background Checks on Employees

Background screening firms are a valuable resource for any organisation that is considering hiring new employees. The goal of these firms is to provide an assessment of the background and work history of potential candidates, so that employers can make informed decisions about whether or not to hire them. 

When you hire a third party provider for background screening services, you can enjoy many benefits such as faster turnaround time, cost-effective service, and more comprehensive reports.

third party employment verification companies
Third party employment verification companies

Here are some few tips to remember when using a third party provider for background screening services:

  1. Check their credentials and experience with the industry. You should always ask for references and previous cases they have handled. Check their reviews on various websites before you hire them.
  2. Determine and analyse all the types of service they will provide and what are their rates
  3. Determine which types of information are needed. The information can be on the individual's employment history, criminal history, social media reports, educational backgrounds and many more.

Conclusion: The Main Benefits of Using a Third Party Company for Background Checks

Background checks are an essential part of any hiring process. They provide crucial information about the candidate and can save your company from hiring someone who might be dangerous or dishonest. 

The first major benefit is that it saves you the time and hassle of doing it on your own. You don't have to spend hours researching companies and databases or calling people back and forth to get information about a candidate's past. A third party company does all that for you so you can focus on other things like interviewing candidates, advertising positions, etc. 

Another major benefit is that they have access to more databases. A third party company has access to databases that are publically available as well as private ones that require a special set of credentials to gain access. This allows the company to find greater detail about a candidate. They could uncover the person's arrest record, any past lawsuits they've been involved in, or even if they are currently under investigation - all before you make a decision on whether or not to hire them.

Lastly, third party companies also have a number of people who can help you in the process. They are not just one person, but a whole team of experts who can help you find the best candidate for your company.

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What background check do I need?

This depends on the industry and type of role you are recruiting for. To determine whether you need reference checks, identity checks, bankruptcy checks, civil background checks, credit checks for employment or any of the other background checks we offer, chat to our team of dedicated account managers.

Why should employers check the background of potential employees?

Many industries have compliance-related employment check requirements. And even if your industry doesn’t, remember that your staff have access to assets and data that must be protected. When you employ a new staff member you need to be certain that they have the best interests of your business at heart. Carrying out comprehensive background checking helps mitigate risk and ensures a safer hiring decision.

How long do background checks take?

Again, this depends on the type of checks you need. Simple identity checks can be carried out in as little as a few hours but a worldwide criminal background check for instance might take several weeks. A simple pre-employment check package takes around a week. Our account managers are specialists and can provide detailed information into which checks you need and how long they will take.

Can you do a background check online?

All Veremark checks are carried out online and digitally. This eliminates the need to collect, store and manage paper documents and information making the process faster, more efficient and ensures complete safety of candidate data and documents.

What are the benefits of a background check?

In a competitive marketplace, making the right hiring decisions is key to the success of your company. Employment background checks enables you to understand more about your candidates before making crucial decisions which can have either beneficial or catastrophic effects on your business.

What does a background check show?

Background checks not only provide useful insights into a candidate’s work history, skills and education, but they can also offer richer detail into someone’s personality and character traits. This gives you a huge advantage when considering who to hire. Background checking also ensures that candidates are legally allowed to carry out certain roles, failed criminal and credit checks could prevent them from working with vulnerable people or in a financial function.

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State of Hiring and Background Checks Discrepancies

Veremark’s 2022 Annual Report is based on the background check data collected from over 100,000 checks from companies and professionals across 6 countries and 5 key industries last year.

This report focuses on the state of hiring and background check discrepancies and is an essential guide to all recruiters and HR professionals conducting hires, background checks and onboarding in 2022.

In this report, we discuss:  

  • What areas and factors can Background Checks discover?  
  • Where did the findings come from by country and sector?
  • Discrepancies by top 5 sectors
    • Fintech and Financial Services      
    • HR, Staffing and Recruiting      
    • Technology and Software      
    • Professional Services      
    • Business Process Outsourcing (BPO)
  • Discrepancies by top 6 countries
    • Estonia      
    • Singapore      
    • United Kingdom      
    • Australia & New Zealand      
    • India      
    • Philippines
Get your own copy!