Business Management

Running Head: CREDIT HISTORY AND BACKGROUND CHECKS

What does literature say about The Value of Credit History and Background Checks?

What does literature say about The Value of Credit History and Background Checks?

The hunt is on for the best candidates for employment. Human Resource Managers have the responsibility of finding the right talent to fit the organization. In yesteryear, finding a job was a simple process. You go to the place you want to secure work and basically plead your case for job. In some cases, it really was just that simple. Employers did not require any background screenings or credit history checks. All an employer wanted to know is if the job seeker was qualified, reliable, and how soon they would be available start working. Even during those times of national economic hardship, applicants did not have to jump through as many hoops and leap over as many hurdles as they do today to find work on any level.

In the current job market, the process is far more complicated than what it was years ago. Innovative technological advances have afforded employers the opportunity to be more selective in their approach to finding suitable candidates for employment. However, given the present state of the economy, many people are finding it quite difficult to manage their finances. People are living off of credit cards and racking up an enormous amount of debt. Others have to choose which bill is not going to get paid this month if they are able to pay any bills at all. Times are really tough for the American household. Consequently, credit ratings are dropping at an alarming rate with no end in sight. This is a huge problem for the job seeker due to credit history checks becoming a significant factor in deciding who to hire for many organizations.

A credit history check is not the only obstacle hindering a job seeker in the employment quest. Many employers are also now requiring background checks as well. They are looking into...