Background checks have become crucial for hiring and protecting companies from potential liabilities. However, some companies overlook the true cost of using an efficient background check program. When it comes to conducting background checks, it’s not just about the pricing of the service. There are other costs that people don’t often think about, and they can add up quickly.
These costs are important to consider when choosing a company to run your background checks, as cheaper doesn’t always mean better, and you shouldn’t necessarily find a new company if your current one raises prices. Consider the following fees that a background company must take into consideration when setting prices:
1. Turnaround Time
The turnaround time is the time taken to complete the background check. In most cases, the quicker the turnaround time, the more expensive the background check. This is because conducting a quick background check requires more resources than a standard background check.
2. The Level of Background Check
The type of background check a company needs also determines the cost of the service. The more in-depth the background check is, the higher the cost. Basic checks look at a person’s criminal record. In some cases, more thorough checks can also look at things like their credit reports, driving records, and past drug test results.
3. Court Fees
Another factor that can impact the cost of background checks is court fees. Criminal records and verifications are often obtained through court records, and the fees for accessing these records vary. The county or state can impose court fees, and they may include charges for a criminal record or third-party access fees.
These fees can add to the overall cost of a background check and must be considered when calculating the final price.
4. Revised Check
Sometimes, candidates may enter incorrect information on their background check form, making it necessary to conduct a revised check. And, of course, this will cost extra money. It’s important to factor in the potential cost of a revised check when considering the overall expense of background checks.
5. Supplemental Services
Another factor that can influence the cost of background checks is the addition of supplemental services. For example, some companies may require DMV history or fingerprinting for certain positions, which can add to the overall cost. It’s important to determine the specific requirements for your business before ordering a background check to ensure you’re not overspending.
Choosing a Background Check Company
Remember that cheaper isn’t always better. You should consider the reputation of your background check company. Some background check companies may offer more affordable services but may have a less-than-stellar reputation or even be fraudulent.
So, ensuring that you’re working with a reputable company that guarantees accurate and timely results is crucial. Similarly, simply hiring the most expensive background check company isn’t always necessary either.
Additionally, it’s essential to consider the opportunity cost of not conducting proper background checks. Making a bad hire could be significant and potentially outweigh the cost of running a thorough background check. Think of the damage to the company’s reputation, lawsuits, and fines that come with hiring a bad employee. With these looming consequences, it’s reasonable to invest in proper background checks.
As an industry leader, BIB takes pride in going above and beyond to meet and exceed customer expectations. Our dedication to innovation and customer service is unparalleled, with cutting-edge technology and adaptable solutions. Visit our website or call (704) 439-3900.