Human capital is often the largest expense on the balance sheet, accounting for close to 100% of expenses in industries such as staffing. It is also one of the most valuable assets, although the actual value can be harder to quantify.
Employers turn to services like background screening to ensure they select the right assets to add to their teams. Effective background screening programmes can help to improve employee retention, reduce CV qualifications and background fraud and minimize occupational fraud and theft.
Unfortunately, these benefits are also often difficult to quantify. So when HR is asked to justify the expense, how do they come up with a real number? Many people appreciate the value of background screening, but just how valuable is it? Does it save employers hundreds, thousands, or perhaps even millions of pounds?