Almost Half of Employers Do Not Background Check for Credit Problems

Posted by Kristina Taylor
October 28, 2010

Almost Half of Employers Do Not Background Check for Credit Problems

A recent poll conducted by the Society of Human Resource Management (SHRM) revealed that a whopping 40% of all organizations surveyed do not conduct credit background checks on job candidates.

This statistic is alarming for a number of reasons, most notably:

  • If these employers aren’t background checking for credit problems in potential workers, they are probably “missing the boat” in other areas, too.
  • With unemployment being so high, many applicants have serious credit issues.  This can lead some individuals to make questionable decisions on the job, especially if they have access to money.
  • Employers who do not background check for credit issues could be setting themselves up for serious future issues and liability.

Our recommendation is for all companies to perform comprehensive background checks which include credit checks, just to be sure.

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