Employment verifications: a double-edged sword. It's a steady income stream, but it’s also a labor-intensive monster that can devour your resources and frustrate your clients. As a Consumer Reporting Agency (CRA), you're caught in a bind. Do you:
- Struggle through the manual maze? Face endless calls, unanswered emails, and mountains of sticky notes, all for a measly profit.
- Drop it all together? Lose potential clients and miss out on valuable revenue.
There's a better way. You can ditch the headache and unlock the true potential of employment verifications. The solution: outsourcing. While outsourcing employment verifications may seem like a foreign concept to some CRAs, the fact is that many find themselves disproportionately focusing on employment verifications compared to other, more profitable services.
The Pain Points of Verifications
It’s a fact. Employment verification is one of the most headache-inducing aspects of the background screening business for several reasons:
- They’re labor intensive. According to our experience working with countless CRAs, we believe that about 35% of employment verifications can be conducted using automatic tools. The other 65% must be done manually. That’s 65% that require human touch, bogging down your team and dragging out turnaround times as calls go unanswered and voicemails unreturned.
- Scaling is challenging. When demand spikes, training new researchers can take months, leaving you scrambling. And, by the time you get new researchers trained, the demand may change again.
- Client requirements can be difficult to keep up with. Each client has a unique "verification song and dance" for how they want CRAs to handle the manual verification process. This creates a tangled mess of instructions and inefficiency.
- They’re slow. Most parts of a pre-employment background check occur nearly instantaneously. However, when employment verification requires manual research, it can cause significant delays and frustration among your clients.
Despite the considerable effort and challenges listed above, margins are thin, leaving you feeling like you’re working for peanuts. And they may even be costing you more than you realize.
Outsource, Optimize, and Win
You can say goodbye to those pain points by outsourcing to a trusted provider. Whether or not you've considered this strategy before, outsourcing some or all your employment verification offers tangible benefits.
Experienced background screening data providers can automate whenever possible, freeing up your team to focus on higher-value services. Scaling on demand is no issue, allowing you to ramp up or down quickly, easily adapting to market fluctuations. When it comes to client customization, experienced providers can create streamlined processes that meet each client’s specific needs efficiently. Ultimately, you can boost your bottom line with reduced labor costs and improved efficiency while watching your profits soar.
What Are You Waiting For?
Employment verification remains a crucial aspect of background screening, but with strategic outsourcing, it can evolve from a headache into a catalyst for growth. Don’t wait to make this smart move for your business.
Whether you’re interested in outsourcing all or some of your verifications, we’ve got your back. With our experience, state-of-the-art technology, and scalability, we can help you transform your verification headaches into competitive advantages.
Get in touch, and let’s chat about how we can help you reduce risk and become more profitable.
