To avoid the cost of hiring employees and then at a later stage finding out that there is an issue in the background verification can be costly for the company in terms of money, time and job equally. There are various background check agencies that operate for the purpose of checking employees' backgrounds.
They charge a fee and take their sweet time to do it. The activity of background checking is related to the Human Resource Management of a company and should be performed by them only. It would cut down the cost of such external services for the company and increase the quality of hiring that the company goes through.
Image Source: Google
Background checking of employees involves taking down a track of the past employments and activities that the potential employee has been involved in.
The right time to do this is when the final interview is conducted and the offer letter is given. The time period between it should be used effectively to dig out the authenticity of all information on the resume and any criminal history.
Background checking not only saves the company from unlikely events, but it also assures that the right person has been hired for the right job and firing would not be a case in due course. If effective hiring is done, there would hardly be the need to fire any employee.