The following is a press release put out by LexisNexis regarding their background screening solutions offering. We are republishing this release for informational purposes only.
The LexisNexis Background Screening press release —
LexisNexis(R) Announces Background Screening Solutions; Screening Solutions Help to Mitigate the Risk of Hiring New Employees
BOCA RATON, Fla.–(BUSINESS WIRE)–March 1, 2006–LexisNexis Risk Management(TM), a leading provider of information and services solutions, announced its availability of pre-employment and background screening products to help companies make informed hiring decisions quickly. The LexisNexis(R) Screening Solutions include a range of products that can offer timely and comprehensive screening for new employees, partners, vendors and volunteer workers.
Industry reports show that over 33 percent of job applicants misrepresent themselves regarding their work history, 31 percent misrepresent their educational credentials or professional licenses and 10 percent of all applicants do have some type of criminal record.
“An average company spends typically $7K to $10K per hire when you consider the cost of recruiting, hiring, training and turnover of employees,” said Jim Collins, vice president and general manager of the risk management unit of LexisNexis. “Businesses have an obligation to know who they are hiring to protect their customers, employees, and their company reputation. They need to confirm if this candidate really did go to this school, do they have the needed professional licenses, did they really do the job that they said they did on their resume.”
Human resource officials have seen an emergence of challenges such as a rise of violence in the workplace, globalization, employee theft, labor shortages and mitigating the upcoming wave of baby boomers ready to retire.
To help companies mitigate the risk of hiring new employees, LexisNexis Screening Solutions include the following products:
— Full Service Screening: Designed for larger organizations that require a full menu of screening options and services including data integration and personalized account management.
— Express Screening: Designed for smaller organizations that need fast, easy and online screening with built-in reporting tools.
— Specialty Screening: Can be created for organizations – often volunteer or event-related – that need customized screening applications, including applicant self-pay options.
— Vendor Screening: Designed for organizations that need to perform specific business screening searches.
“Background screening should be an important part of a company’s overall talent management strategy,” Collins said. “Industry reports consistently show that having the right person in the right job increases a company’s bottom line.”