Did you know that over 2 million reported crimes occur in the workplace each year? That number alone should be enough to convince employers that background checks need to be an essential part of the hiring process. However, most employers don’t realize how deeply a bad hire can hurt their business. This month we wanted to take a closer look at some of the sobering statistics that every employer needs to be aware of.
Employee Substance Abuse Statistics
Substance abuse among employees can wreak havoc to your normal workflow. Whether it’s employees showing up late (or not at all) or displaying poor job performance, it’s your business that will suffer. Did you know that 70% of substance abusers are over 18 and are currently employed? On top of that, employees who use illegal substances are 4 times more likely to be involved in an accident at work and are 5 times more likely to file for workers compensation. Fortunately, employers can reduce these risks by doing thorough pre employment drug testing.
Workplace Violence Among Employees
Workplace violence is a serious issue and costs companies an estimated 36 billion dollars per year. That number covers everything from employee turnover to loss of production and even lawsuits in extreme cases. Incidents like these can really impede the growth of your company. Though they might not always be avoidable, you should be able to limit such occurrences with advanced background checks. At the very least, you can learn if a potential hire has any history of violence in the workplace.
Employee Fraud/ Theft
It shouldn’t come as a surprise to hear that some workers take advantage of their position and steal from their employer. However, the magnitude of this reality might shock you. According to a recent study employee theft sits at around 120 billion dollars per year! And the incredible part is that most employers don’t even know it’s happening to them. 95% of all companies are victims of fraud or theft and only 10% ever find out about it. These stats should be more than enough motivation for employers to buff their current employment screening process.
Misrepresented Resume Information
Candidates can put anything they want on their resume even if it isn’t true. This is becoming a common problem nowadays as we’ve noticed more applicants trying to work their way into positions they aren’t qualified for. In fact over 40% of information on resumes is misrepresented. A good way to weed out false information is through advanced background checks with education verification. This can be an important step to ensure you are hiring qualified candidates.