How to Use the Employee Credit Check

<p style&equals;"text-align&colon; justify&semi;">If you are looking for ways to streamline the hiring process&comma; using an <a href&equals;"https&colon;&sol;&sol;www&period;goodhire&period;com&sol;screening&sol;employment-credit-report&sol;" target&equals;"&lowbar;blank" rel&equals;"noopener">employee credit check<&sol;a> is one way you can make your job much easier&period; Within the last few years&comma; employers have begun using credit reports as a way to collect vital information on new hires and to double-check the information that is shared on <a href&equals;"https&colon;&sol;&sol;newsforpublic&period;com&sol;best-job-apps-websites-get-hired&sol;">job applications<&sol;a> and during interviews&period; Keep reading to learn about how to use this important tool&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Things To Consider<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">The most important thing to remember about using a credit check during the hiring process is that you will need permission from the applicant to perform the credit check&period; It is required by law that you inform the individual that you wish to perform the credit check and that you receive recorded permission to do so&period; If you&comma; as the employer fail to do this&comma; you could be held liable&period; The applicant has a right to be informed and has a right to decline the credit check&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You should keep in mind&comma; though&comma; if an applicant declines the credit check&comma; that could in itself be a red flag&period; Why does the applicant not want a credit check ran&quest;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Residency<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">One of the main ways employers use the credit check today is to confirm an individual&&num;8217&semi;s residency&period; If there is contradicting information between the application&comma; the interview&comma; and the credit check&comma; you should pay close attention&period; Lying about residency is a definite red flag&period; The credit check will also reveal if an individual is a US citizen or not&period; The credit report is an official report which cannot be faked&period; The credit report will also track an individual for many years&comma; thus making it a great tool to double-check the information&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Identity<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Confirming the identity of a potential employee is very important&period; If a person is lying about their identity it is an absolute deal-breaker&period; Identity discrepancies are almost always a sign of illegal activity&period; The credit report will help you discover criminal activity before it may show up on a criminal background check&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Keep in mind the criminal background check will only show you information concerning illegal activity in the past&period; Illegal activity which is going on presently will not show up on that report&period; However&comma; if you pay close attention&comma; you may be able to detect illegal activity by simply reviewing the credit report&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">If any contradicting information shows up on the credit report&comma; do not ignore it&period; These are very important pieces of information&period; You want to fill your team with honest people&period; Use the credit report to double-check an applicant&&num;8217&semi;s honesty&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Financial Information<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">There is a great deal of financial information available on the credit report&period; This information can be very helpful in determining if your candidate is qualified for the position you are considering them for&period; If the position involves handling money&comma; then the credit report becomes very relevant&period; You want to hire individuals who are capable of handling money wisely and honestly&period; If the credit report reveals that the individual cannot even handle their own money well&comma; how can you expect them to handle company money well&quest; These are very important considerations&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Another important thing to consider is whether or not the credit report reveals that the individual is in financial distress&period; Financial distress can lead to a whole host of bad decision-making&period; Even if a candidate has a great background and has never been involved in illegal activity&comma; distress could indicate future bad decisions are on the horizon&period; You want your team filled with honest&comma; stable individuals&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You can use the credit check to establish residency&comma; identity&comma; and financial stability in the applicants you consider for your team&period;<&sol;p>&NewLine;