Organizations can minimize the risk arising on account of employee theft or fraud by screening for risk factors in an applicant’s background.
Employee fraud and theft are imposing huge costs on organizations whether the organization is small or big. For example, in retail operations, losses due to employee theft are the single largest source of inventory shrinkage. While it is difficult to predict human behavior, we cannot afford to ignore it. Therefore, it would be wise to avoid relying on intuitive feelings to assess a potential applicant.
We need solid information to make sound and prudent hiring decisions. Quality background screening can help identify the histories and traits associated with higher risk behaviors. In turn, this helps organizations to hire the right candidates.
Related NEWS: ‘Conman’ HR Manager who, kept ‘paying’ two ex-employees, arrested for Rs 95 lakh fraud