Smart Loss Prevention Hiring for Hourly Employees

Most managers have hired individuals who interviewed well and seemed to have the necessary qualifications only to learn later that these “seemingly” qualified candidates were problem employees who were dishonest and stole money or merchandise from the company. Poor hiring decisions often result in lower productivity, lost money, and a decrease in employee morale – all costly mistakes for any employer.

According to the National Retail Security Survey from the University of Florida, loss prevention executives cited employee theft as the single most significant source of inventory shrinkage costing employers more than $15 billion annually.

Certifinder recently announced that it has released a new version of the Applicant Review questionnaire to help companies fight back against the ever-growing problems of employee theft and dishonesty. The Applicant Review is a fully validated, integrity assessment designed to screen hourly job applicants for work-related dishonesty. It quickly identifies job applicants who are dishonest and at a higher risk for stealing so that employers can make an informed hiring decision.

Organizations that use the Applicant Review generally realize a significant reduction in asset shrinkage attributed to employee theft compared to the cost of implementing the Applicant Review in their hiring process. This decline in shrinkage rates can be measured in actual savings from one year to the next providing a verifiable return on investment for the organization.

According to a recent report by the Journal of Business and Psychology, Workers’ compensation claims are significantly lower for employers conducting pre-employment integrity testing. The study revealed that the average cost per employee was dramatically less, plus the average cost per accident was also lower. The average cost per claim for the screened group was only 67% as much as the unscreened group – which is substantial enough for employers to justify screening all their job applicants.

“The new version of the Applicant Review provides our clients with trusted information about job applicants that can be used together with our full suite of background screening products to help them make successful hiring decisions,” said Gary Cornick, CEO of Certifinder. “This is a well-validated screening tool with a robust nationwide norm reference group that meets all federal anti-discrimination guidelines,” said Cornick. “Its been successfully used by employers in the US and Canada for more than 25 years.”

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