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Why Real Background Checks Are So Important for Business
October 25, 2013 posted by Steve Brownstein
by Maria Taylor
In the world of private investigation, clear information and evidence is paramount.
A professional private investigator is often hired to gather accurate and useful information for people and companies so they can make an informed decision.
It's all a matter of risk management, and the more informed clients are, the less risk and greater chance of success.
It is a form of insurance in today's high risk world.
People rarely think of information as an asset, but key information and data are more important than ever in making profitable business decisions.
Doing good business and hiring the right people means having the ability to verify known information, and obtain evidence and accurate information on your business partners, employment candidates, and so on. If you're considering a partnership with a new supplier or hiring a new CFO for your company, you need to be sure the person is reputable, with no history of fraud, criminal activity or litigation. Professional background checks and due diligence services can provide valuable evidence on the subject, obtain independent references, and verify known information.
Below are some of the top reasons why background checks work for business:
1. Risk reduction. Screening new employees is not the only scenario in which a background check investigation can lower your risk. Managers and investors now use professional investigation firms to verify their investments, potential employees, check reputation and operations of foreign business contacts, obtain information on assets and liabilities, and more. In short, investigators help clients obtain more information and evidence to make an informed decision.
2. Reputation Management. What if you've found the perfect candidate to manage your investment or legal team, but the subject has a horrible reputation or history or fraud? Or, let's say you are a very attractive investment opportunity, but you're not sure if the company or individual is legitimate. Hiring the wrong manager or starting a business relationship with the wrong person can not only damage your reputation, but can result in major financial loss. If your contact is overseas, then the risk is even greater, and so is the need to get the facts.
3. Verify the facts. It's easy to create the perfect resume, or even apply to be a franchisee with the perfect credentials. But, screening the list of candidates or offers is no easy task. Business fraud and scams are more common than ever, and if a CV, resume or investment application looks promising, it is essential to verify the facts. Investigators routinely verify education, employment,
4. Save time and money. Professional background checks, due diligence and company verification services can be expensive, but law enforcement and fraud experts agree, it's wise insurance to have. In the long run, spending money on verifying new business contacts, companies and hires saves companies and individuals valuable time and money. Hiring a manager who ends up costing the company millions in a legal battle for bad decisions, for example, or investing money with a company that doesn't even exist can be a costly learning experience.
About the Author: Maria Taylor is an Investigation Analyst for Wymoo® International, a professional private investigation firm based in Florida, specializing in international background checks, private investigation and complete due diligence. Visit the company website at www.wymoo.com
