Case Study | Human Resources

Product Guide: Making the Most of Pre-Employment Verifications

Make smarter hiring decisions with Pre-Employment Verifications

HR professionals know that finding, interviewing, and hiring new employees requires a major investment of time, effort, and money. The more turnover you have, the more this cost increases. 

With a Pre-Employment Verification report from Equifax, you can quickly see discrepancies between a candidate’s application and their verified employment history – so you can make more informed hiring decisions.

Compare and verify all this in one concise report

  • Past work history 
  • Employer names 
  • Job titles 
  • Hire and separation dates 
  • Tenures 
  • Current employment status

Improve employee retention 

Simply focus on these 6 key areas of the Pre-Employment Verification report:

  1. Tenure comparison – Compare your company’s average tenure to each candidate’s so you can identify those who’ve demonstrated a more stable track record.

  2. Job stretching – Find out if a prospect claimed a managerial or supervisory role they didn’t hold in order to avoid regrettable hires.

  3. Omitted positions – See if your candidates have omitted short tenures – then have an open dialogue about why they chose not to include certain information.

  4. Skill deficit – Determine whether a candidate has the skills needed for the job by reviewing their verified position titles.

  5. Time gaps – View inaccurate job dates and uncover positions that are being hidden or misrepresented.

  6. Current status – Verify the job title and length of service of a candidate who is currently employed, without alerting their employer.

 

According to a recent study,* employers that use Pre-Employment Verifications realize significant improvements in retention:

45% higher 

retention rate
over 1 year
 

You could save millions on overall hiring costs

That same study* provides an example scenario in which a large retailer saves $3.8 million after increasing their tenure by just 3%.