As the economy settles into a new normal and growth resumes, there will be a demand for talent across business functions and industry verticals. As companies realign their organizations to new workplace models, human resources (HR) departments will play a critical role in defining the new normal. The pressure on HR teams has never been more significant - to attract top talent and limit attrition while also ensuring that staffing plans align with the organization’s objectives and culture. For the talent-hiring team, this means ensuring candidates are who they say they are, and have the relevant credentials. Hiring the wrong individuals can lead to increased employee turnover and significant financial implications.
It is estimated that a bad hire can cost an organization five times an employees' annual salary when expenses like advertising, hiring process, loss of productivity and training costs are factored in.
To ensure efficiency and accuracy in hiring, it may be time for HR teams to reevaluate their background screening program to ensure that their process, policy and partners meet the requirements of the new workplace.
In this report, we discuss:
- Navigating the evolving hiring landscape
- Evolving background screening to meet the needs of the new workforce
- Rethinking hiring priorities, processes and technology
- Veremark: Flexible Background Checks for Evolving Hiring Needs and Seamless Experiences