Building a house is all about the foundation. Without a solid ground it is difficult to build anything at all. The same goes for companies. If your company is lacking in certain aspects, the facade will sooner or later start to crack.
Human capital – your greatest asset, and risk? Everything starts with the people behind your brand. Without them, there would be no company to talk about. But do you really know the people behind your brand? Today, this question is more relevant than ever. Especially if you want to create a reliable brand.
A company is surrounded by numerous stakeholders, from employees to partners and suppliers. Every single one of them is an asset to the company. However, they also form a risk. For example, a recent study showed that up to 85 percent of job applicants lie on their resumes. Most of them are disclosed, but the risk that the odd one still slips through is huge.
Reputation is key
Letting a person with a falsified background or a serious criminal record become part of your organization can mean the end, or at least create tension. Building a trustful company with a good reputation takes time. Being aware of eventual risks is a good start. Doing something about them is even better.
This is something that you should consider as well when it comes to deciding which business partners you work with. If the companies you collaborate with does not perform background checks on their employees, how can you be sure that they take their business seriously? Remember that your clients and customers might ask you the same questions. Your partners reputation may reflect on you and vice versa.
Background checks are an easy and efficient way to handle these kinds of risks. It is also a proof that your business is a serious one that cares not only about your employees, but your customers as well.