What is Risk Mitigation and How Does it Affect Employers?
What is risk mitigation?
It is a phrase commonly thrown around in the background screening industry and is a core purpose to background screening, especially in regards to employment. But risk mitigation goes beyond just the consideration of employment candidates and their fit within a given company or organization. In the world of background screening risk mitigation goes much further.
But what is it?
Risk mitigation is defined several ways:
1. A systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence. Also called risk reduction. http://www.businessdictionary.com/definition/risk-mitigation.html
The definition above is a common business definition most commonly anointed on transactional or fiscal behavior.
2. The reduction of exposure to potential problems in business. From the IT perspective, risk mitigation reduces the vulnerabilities that may lead to an attack on the company's computer systems. http://encyclopedia2.thefreedictionary.com/risk+mitigation
But what is risk mitigation as it involves background screening?
Risk mitigation in background screening is simple: Safety.
By eliminating or reducing the potential of a threat within the work environment an employer can create a safe environment. Reduce threat/increase safety.
Creating a safe workplace creates several benefits, most of them fairly obvious. Employees that feel safe and free from threat conduct their job in a more positive manner and productivity increases. Better employees want to work in an environment conducive to growth and free of fear. A safe environment can also reduce the threat of loss to tangible assets within the work place. Fraud, theft, and vandalism plague companies across the United States but with a problem vetting of employees this potential can be greatly reduced.
As mentioned above, risk mitigation goes much further than employment screening. Several areas that demand a full background check are with caregivers, nannies, and individuals working with any at-risk population such as children or the elderly. Protecting at-risk individuals is a priority.
How does one practice Risk Mitigation?
There are many steps to fully implement a policy of risk mitigation in the workplace and background screening is just one of these steps. When conducting a background check for the purposes of vetting new employees or in gathering information to select a nanny, caregiver, or volunteer, one should consider utilizing a third-party background screening company. A background screening company has the knowledge and the experience to conduct a legal, comprehensive, and thorough background check.
As part of the risk mitigation process within the workplace, one should also consider the scope of the position being fulfilled. There are a broad range of reports and public records that can be gathered in creating a background report but not every position requires the same information.
For example, if an individual is hiring for a financial position or a position that handles money one might consider the following:
1. Consumer Credit Report
2. County Criminal Records Search
3. Federal Records Search, one that includes all white color crimes such as fraud
4. Nationwide and State Sex Offender
If one is hiring for a driving position the addition of a Department of Motor Vehicles Records check, and so on.
Employers should consider background checks as risk mitigation checks. Protecting people, property, and profit should be at the core of any employment screening, whether the employment is traditional or in-home with at-risk populations. Background checks can provide the information and data required to make a safe, informed decision about potential employees, nannies, caregivers, or volunteers.
Okay, Risk Mitigation is important. Now what?
It's simple. CriminalBackgroundRecords.com is a full-service third-party background screening company with access to a wide-variety of databases and county courts, and can provide the depth of information required to make a safe and thorough decision. With continued changes in the rules and regulations that police the use of public records for the purpose of employment, as well as other areas, using CriminalBackgroundRecords.com is smart choice, and a safe one.
How does one start?
This has been a CriminalBackgroundRecords.com News Publication - All rights reserved
CriminalBackgroundRecords.com is “An Information Enterprises Solution”