Poor talent selection practices can cripple businesses causing them to fall short of their true potential and putting them at a competitive disadvantage. Speed and agility are important in today’s talent war, but adding new employees, if done carelessly and without the benefit of a well designed background check, could significantly hurt your company’s bottom line.
Increased government regulation on the state and federal levels makes it hard to be a business owner or manager. It distracts businesses from pursuing their core competencies and erodes profits. And with the ever increasing onslaught of new rules, policies and procedures, it’s a threat that isn’t going away anytime soon. Fines and penalties are very real consequences of not staying up to date with new laws and regulations. More and more states are implementing employment laws that supersede federal laws. Companies must find ways to stay ahead of the curve as compliance regulations continue to evolve.
The US Chamber of Commerce and the
American Management Association have provided us with a startling statistic:
30% of all business failures are caused
by employee theft!
Every day, headlines alert us to another danger: violence
in the workplace. In a single month, the Workplace Violence Research Institute reported,
an estimated 16,400 threats were made, 723 workers were attacked and 43,800 were
harassed every work day. The average award in a workplace violence lawsuit is over
$1 million, costing employers $36 billion each year. Even if you weed out a bad employee
before they do irreparable damage, they have cost you in terms of turnover.