A background screening procedure provides an organization with an abundant data and metrics. Nevertheless, measuring specific key performance indicators of employment screening services can help a company make instantaneous hiring decisions. These metrics can even help fine-tune the entire hiring process, thus guaranteeing that you end up with a quality hire. Furthermore, keeping an eye on some of these background check metrics benefits the organization in the long and short run.
To understand and predict cost per hire, measuring screening costs is crucial to reveal opportunities to reduce spending and refine the hiring process. This metric gives you an estimate of the time it takes to hire a candidate. With this data at your disposal, you know when to begin the hiring and employment screening services to recruit someone new in the organization. More comprehensive screening should be done on candidates who could make an impression as a risk to the organization if not appropriately screened, such as individuals of authority or administration.
The time the prospect takes to complete its background check form and provide consent is the time to complete. It begins when the candidate submits documents to when the background check is delivered and ends when you and your employment screening service provider receive authorization. Monitoring time-to-complete can help you pinpoint reasons for the delays and use what you learn to better communicate with candidates, decrease time-to-complete, and speed time-to-hire. Employers may merge time-to-complete and turnaround time from start to finish getting a better objective criterion for how long a background check takes.
The number of background checks in an organization demands, both an overall and per-candidate, significantly impacts screening costs and time-to-hire. Tracking the number of employment background checks by type, including details about consents received, accurate results, impacts, and disputes can provide valuable perspicuity into problems or potential areas for improvement. Dig deeper into these factors:
HR managers should track the accuracy of background verification and the number of candidate disputes. Accuracy issues could cause the organizations delays or even detriment. Your employment screening service provider should report monthly on accuracy issues. To screen a candidate, it is vital to ensure that all the departments precisely adhere to compliance policies and rules. If there are some actions that all the departments are skipping, it's essential to figure out the reason behind it because if those are critical compliance policies, check that they are not left out. Screening data accuracy and compliance metric can keep legal concerns far from an organization.
Discrepancies in the employment screening process arise when potential candidates' information can neither be verified nor rejected. Therefore, it's a subject of concern for the organization when such inconsistencies stack up, especially when an increase in the discrepancy rate creates hurdles in the entire hiring process, specifically when the difference is due to the elements such as education and criminal record. If unverified data stacks up with every employee background check process, there is an immediate need to change the hiring procedure. Measuring your background check process based on the discrepancy rate enlightens you on how effectively your screening system collects data. Tracking essential metrics in your background check process can help you identify areas that challenge the organization's hiring.
Companies refine their hiring strategies, save on costs, and reduce compliance risk simply by understanding the data behind background screening processes. Nevertheless, a close partnership, collaboration, and transparency with a trustworthy employment screening service provider are necessary.
Get in touch with One2Verify experts to find the most reliable employment screening services today.