The cost of Employee Screening
Many businesses feel that they do not have the money to do employee screening.
Fact: 30% of all business failures are due to employee theft
Fact: The average award in a Negligent Hiring Lawsuit is $1 Million Dollars
Fact: The direct and indirect average cost of employee turnover is 1.5 times the
annual salary of that position.
The cost of employee screening should be considered as an essential part of operating costs. It is just as important as keeping the lights on and paying the vendors. It only takes one bad hire to devestate a business.
The time and money that is saved by not doing employee screening will be more than lost in defending a negligent hiring lawsuit.
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In today’s legal environment, I wouldn’t hire without a good background check.
Comment by Doug Williams — December 13, 2007 @ 5:27 pm