Trying to run a business successfully is never simple. Trying to do so in a post-pandemic world, after the economic devastation and massive shifts in working policies, is an absolute minefield. One wrong decision could have massive repercussions on your company, particularly if you’ve already weathered rough times.
That’s why you need to make sure you’re always careful with your business dealings and hiring strategies, and why background checks are more important than ever. Using an independent firm to carry out background checks for you can be the difference between your business sinking or swimming in the new modern world.
Most businesses rely on another business in some way in order to get by. It might be that you need to work with a delivery company to get your products to your customers. Maybe you’re the distributor or retailer and you need to partner up with manufacturers to provide you with products to sell.
If you work with smaller businesses, then you need to know that any company you’re partnering with can fulfil their end of any contract. Signing up to an agreement with a business that’s in a perilous financial situation could have a serious impact on your own business’ finances. If you’re suddenly left without a delivery company because your chosen option can’t hire enough drivers, then you’re in trouble.
Carrying out background checks and due diligence investigations on new companies that you’re either partnering with or acquiring is therefore vital. You have to know the full truth of the situation, and not just act as a last-minute rescue cheque for a business that is on the ropes and about to go under.
Using a private detective agency such as EJM Investigations therefore makes sense because we can find out everything you should know about how a business is really performing. We can also check whether your partners already have deals with rival companies that could impact your own agreement with them.
Background checks might cost extra but they’re a worthwhile investment if it means ensuring that your company is only working with other businesses that can help you to grow and succeed and that you aren’t setting yourself up to fail with a partner company that’s already in trouble.
It isn’t enough these days to make sure that any potential business deals are with companies that are financially secure. You also need to make sure that they’re a company that acts legally. And one of the most common new illegal trading methods that businesses have employed in the last two years is the falsifying of furlough payments.
Many companies have sacked employees but then claimed to be paying them under the furlough scheme, helping to bring in extra cash from the government to keep them afloat. Not only does this seriously mess with the fired employee’s financial situation, but it just shows a willingness to circumvent serious laws without regard for the impact on not only their own business but partners too.
Imagine if you signed up to work on a contract with a new company partner and then within a few months the government came for them with a huge fine for furlough irregularities.
Suddenly they aren’t able to fulfil the contract from their side, and you’re left scrabbling around to make sure that your own trading isn’t impact. You might even have the spotlight shone on your own business, coming under scrutiny as a partner whether you knew about it or not.
Again, we can help. We can carry out detailed checks on any undeclared financial matters or on anything illegal that the company may have undertaken. If there are any red flags then we’ll gather as much evidence as possible and present it to you. You can then use this information to help you decide whether this is a company you should be partnering with.
It’s not just businesses that we can conduct background checks into but also individuals, and if you’re hiring a senior new employee that is going to represent a large investment for your business then you might want to get them checked out.
It’s even more important in the contemporary working world now that so many employees will be either partially or fully remote. The landscape has changed for many people and they are generally spending less time in the office.
Especially if you’re hiring someone that will be working fully remote, you need to be sure that they are who they say they are, and that you have their undivided attention. A video interview alone often isn’t enough – someone could conduct an interview and then outsource your work once they are hired.
And there’s nothing to stop them applying for jobs at rival companies and playing them off against each other. We can conduct checks to look at whether they have agreements with other rivals and help you to determine whether they are genuine in the work that they do for you.
Where our tools and resources aren’t able to get what you need, we can consult with you on methods that you can use to ensure the person you are hiring is the one carrying out the work.
We understand that finances are stretched for a lot of businesses and that the idea of paying for background checks is a gamble you are leaning towards not taking.
However, it really is a gamble. And you need to consider the risks. Paying a bit extra now will not only help to ensure that your future business partnerships and senior staff hires are successful, but they’ll also give you peace of mind. And that can help you to focus more on the work you have to do, making the whole business run a little smoother.
If you want to know more about the background checks we can offer, give us a call on 01772 334700 today.