A company needs to protect its own interests and make the decision to have an executive background check run before hiring a new executive. A hiring manager would like to believe that what they are hearing and reading is completely truthful, but there is always the possibility that it is not.
A job candidate should not have been found to fabricate or lie about some pieces of information on a resume. There is a competitive field of candidates at the executive level who are all vying for the best positions. It is important and prudent to have an executive background check conducted by a professional company such as Corporate Resolutions. A thorough background check will investigate a candidate’s degrees and at which schools they were achieved. Corporate Resolutions will also verify employment history, dates of employment, and positions held. The unfortunate reality exists that an executive level candidate may even attempt to hide some information about themselves. This could have disastrous effects if what they are hiding is a criminal act in their background.
When a hiring committee or hiring manager assumes too much, they are taking an unnecessary risk. If a skeleton in the closet is found after an executive has been hired, the company can be at risk. Some companies are in the practice of fully vetting lower level candidates and not the high level executives. A business should consider the fact that an executive has access to confidential information that the rank and file employee does not. This could potentially cost a company thousands of dollars as well as an unmeasurable amount of derogatory publicity.
A background instigation may not have been conducted by a previous employer. If the assumption is made that a former business has vetted the executive, there could be crucial information that is being overlooked. The Ethics Hotline is a good resource that is used by a professional company conducting a background search on an executive. This is an anonymous hotline that may contain such useful information as improper conduct or other issues. A thorough investigation can also uncover any sexual harassment allegations or charges ever brought against an executive.
The potential risk of fraud can place a business in jeopardy. With so much at stake, a consistent prodecure regarding new hires should be undertaken by all companies. If all potential hires are treated the same, the company has done its due diligence. With any new hire, the company is looking to find the right candidate who is capable of doing the job. It is just as important, if not more so, that this person can be trusted to take on the role. A high ranking executive should be as well suited for the position as is a middle manager or staff member.
Financial companies and institutions are an industry, among others, that takes financial fraud very seriously. A thorough background check should be conducted on all levels and especially for a high ranking and high profile executive. Companies such as banks and investment firms are entrusting their new employees with large sums of money from day one. A company’s reputation is on the line if they become victims of financial fraud, innocently or not.
It’s understandable that there are important reasons why businesses want an internal investigation conducted on an executive. An investigation of his or her social media is also a helpful tool in learning more about a job candidate. The internet can uncover a wealth of information on an executive level individual. It is appropriate to know all there is to know about business executives prior to bringing them onboard.