Is Vetting the Shrinkage Solution?

20/11/2015

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According to research by the Global Retail Theft Barometer employee theft has been the highest source of shrinkage in the last 12 months.

With 39% of theft reports focused on employees is the real cost of business bad hiring decisions?

An update to the BS7858:2006+A2:2009 screening of employee Code of Practice now states that “the security screening of individuals to be employed in an environment where the security and/or safety of people, goods and services, personal data or property is a requirement”. A number of employers are therefore turning to background screening and vetting as part of their recruitment process.

Effective background checks not only offer peace of mind and improve employee retention but ensure that candidates joining a business are credible and trustworthy, mitigating the risk of stock loss.

The main objective of pre-employment vetting is to verify an applicant's identity and confirm their performance history and conduct. Depending on the sector, role and level of seniority the following are procedures to consider:

  • A completed business application form        
  • Identification check
  • Electoral Register check                 
  • Passed employment check with references
  • Qualifications checks                 
  • Credit Reference Agency (CRA) check
  • Criminal Records Bureau (CRB) check        
  • Occupational health screening
  • Professional bodies membership checks         
  • CIFAS Staff Fraud Database check

Avoiding employee vetting can damage your reputation and leave you vulnerable not only to shrinkage but employee fraud, high staff turnover and litigation or legal action.

Vetting processes are applied diligently, impartially and with equality and privacy in mind.

Third party vetting providers are available to take the pressure off companies - allowing them to focus on their key business objectives.