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Risk Mitigation Strategies
November 14, 2022
Risk Mitigation for North America’s Hiring Frenzy
Risk mitigation should be a top concern for employers as labor shortages have caused many industries to offer incentives to get new and young talent working for their businesses. As companies remain in a constant state of hiring and recruiting, the risks of sloppy due diligence can leave companies in shambles and create a workforce that is not dedicated to your goals.
Make strong efforts to ensure that those your business serves are of the highest quality possible, free from histories that can put others at risk.
Risk Mitigation Strategies for North American Businesses
Explore some of the key risks facing businesses in North America and how they can be mitigated.
Risk Mitigation for Professional Misconduct
Long-term care and other healthcare industries, including hospitals, face some of the greatest risks due to ongoing labor shortages in North America. As hiring managers in healthcare are pressured to recruit and lock down candidates as quickly as possible, skipping out on proper background checks can create complex liability issues. Some dishonest candidates may take the opportunity during these difficult times to apply for a job that they are simply not qualified for. In other cases, failing to properly vet and screen healthcare support workers can lead to workplace negligence.
Even the support staff in long-term care homes are within arm’s reach of sensitive patient information and pharmaceutical products. Something as simple as a criminal background check can pinpoint serious red flags in new and existing staff, helping to avoid the risks of misbehavior in such an important field of work.
Risk Mitigation for Candidate Embellishment
It’s almost too easy for candidates to stretch the truth about their past employment, professional certification, and educational history. Hiring a candidate who has embellished their resume can lead to struggles in the workplace, require additional training, and cause significant friction between manager and employer. Those who are not fit for the job and have lied in order to gain employment can lead to disastrous circumstances and cost an employer tens of thousands of dollars.
Regular turnover in your business may not mean there is an issue with compensation or benefits, but instead, reveal that your business has been hiring the wrong type of employee from the start. Candidates who simply can’t perform on the job site may have second thoughts about their employment, causing you to head back to the job boards.
Employment verification tools offered by ISB include professional and educational credentials verification and can be compared against the claims made on a resume. Ultimately, these tools allow hiring managers to ensure that the candidate has been honest throughout the hiring process and is qualified for the available position.
Supply Chain Risk Mitigation and Preventing Internal Losses
Industries that maintain complex supply chains that include logistics staff, warehouse professionals, and drivers face the difficult task of mitigating the risk of internal losses. Criminal efforts to steal valuable goods in transit are highly complex, with many bad actors seeking work within your organization. When a bad apple enters the workforce, it could turn other staff against the employer and encourage organized theft. In other cases, they can also pass along sensitive information, including shipping routes to other criminals who can coordinate a potentially dangerous heist while on the road.
Criminal background checks can spot applicants with a criminal history that can put your bottom line at risk. Even a candidate with a shining resume could be hiding a criminal record that can expose your business to serious financial trouble.
Risk Mitigation Solutions Offered by ISB Global Services
Explore a wide range of screening and risk mitigation solutions designed to protect your business during North America’s labor shortage. Be confident, knowing that you are hiring only quality candidates without criminal histories that can expose your business to unnecessary risk. Further, validate every claim a skilled worker makes and verify their identity, work experience, and educational history.
Build a workforce rooted in honesty and integrity while mitigating your business’s risks during this hiring frenzy. Contact ISB Global Services to learn more about pre-employment screening and ongoing background check services tailored to your business.