Should Florida businesses add credit checks to their Level 1 background checks prior to candidate employment?

Did you know that 95% of employers conduct background checks on their job candidates? In Florida, employers can perform several levels of background checks before hiring employees. Level 1 checks are the most common. They’re state-only, name-based reports that offer a candidate’s employment history and criminal record. Meanwhile, Level 2 checks have a thorough, national scope that includes fingerprinting.

Credit checks can be included within a Florida Level 1 employment check at the discretion of an employer. An employer may want to add a credit check to their screening process if the position entrusts an employee with company money or valuable information. Credit checks offer several benefits that can enhance a Level 1 employment check in Florida. 

Why Florida companies should add employment credit checks to Level 1 checks

Both credit checks and Level 1 background checks can help employers verify a job candidate’s identity. However, certain benefits are unique to credit checks. Florida businesses can add employment credit checks to their existing screening processes in order to better grasp: 

  • The candidate’s responsibility level — While Level 1 background checks provide important information, they might not provide action-based evidence of a candidate’s responsibility. Credit checks can provide records of on-time payments associated with mortgages, insurance, student loans and more. Based on a candidate’s payment history, employers can better understand whether the candidate is secure or responsible enough for the job.  
  • The candidate’s ability to fit the position’s job description — If the candidate is in financial distress, it can indicate that they may not be fit for a job in financial or retail services. In a financial-based position, it can be important for the employee to be financially secure. This can indicate that they take financial security seriously. It also helps to show that their financial responsibility is reflected in their personal life. Therefore, a credit check can help reveal if a candidate is fit for a specific position. 
  • The candidate’s trustworthiness — While a candidate may have a clean criminal record in a Level 1 background check, credit checks can give a more in-depth look into a candidate’s trustworthiness. Suspicious financial activity, and the candidate’s inability to answer clarification questions, can indicate dishonesty. In 2020, $32 million in cash and stolen goods were recovered from over 26,000 dishonest employees. Credit checks can help employers prevent costly cases of fraud and theft.

Seeking employment credit check services for your Florida business? The Background Experts team is here to help!

Doing employee background checks can be frustrating and time consuming. Fortunately, our Background Experts team can take this task off your hands. Our team members have 30 years of combined experience in performing employee credit checks and background screenings, and we’re fully FCRA certified. We also offer a wide range of screening services that can help HR managers and hiring agents ensure that their potential employees are fully vetted and ready to get to work. 

Contact our team today for more information about our services or to talk to one of our background screening experts.