From time to time, firms need to hire individuals as well as enter into business deals with other companies. When hiring, a firm is usually looking for the best candidate that will be able to fulfill not only their responsibilities but also maintain a good reputation for the company.
Most HR departments, however, understand that people may not be who they appear to be. A person may present himself or herself as a good, honest person but deep inside they have some very dark pasts. If a firm signs a contract with such an individual, he or she is likely to cause problems for the firm, especially if he has been in conflict with the authorities.
As a result, it is crucial for any business to conduct a comprehensive background check before filling a senior position or signing a deal with another firm. A background check can be defined as the process of looking up and compiling criminal, commercial, and financial records of an organization or a person.
Such records can reveal information about past dealings of the individual that speaks a lot about the person’s characters and morals. If a firm fails to undertake proper background checks, it might end up hiring an individual who have committed crimes in the past. Such an individual can be a threat to the company’s safety as well as its legal status.
Corporate Resolutions ensures that firms stay safe by helping them to scrutinize every aspect of a financial deal or candidates looking to fill a top position in the firms. They help businesses to make smart decisions that save them tens or thousands of dollars in potential legal and hiring fees.
The following are some of the areas that Corporate Resolutions focuses on:
• Private equity deals
• Venture capital investments
• Fund managers selection
• Executive hiring and board member background checks
• Pre-engagement and vendor screening
• International due diligence
• A merger, acquisitions, as well as IPOs
Corporate Resolutions’ vast investigative networks help the business to vet a wide range of firms as well as the individuals behind the firms. This helps the business to have confidence while signing the agreements because they are confident they know everything necessary about the people with whom they are doing business.
How it works
Corporate Resolution uses a simple but effective model to process their cases. The first step is when the client brings preliminary information about the people or the organization they need to be investigated.
During this stage, the client may also be asked to highlight any information that they feel is untrue or concerns them. The second stage is for the investigating team to access and scrutinize the public records existing networks, and resources of the firm. The investigating team comprises of former intelligent workers that have previously worked for CIA or FBI.
After the investigators access the records and other information, they compile it and put it into a preliminary report that they send to the client. After sending the client a preliminary report, the investigators ask for any other concerns from the client as well as any additional information that the client might need. Finally, the investigators come up with a final comprehensive report that they present to the client.
The following are the benefits of executive background checks
1. They can reveal a hidden criminal history – through a background check, the criminal history of an individual is unveiled. This helps a firm to avoid hiring criminals. In one of the case studies of CRI, they helped a private equity firm to avoid hiring a manager that had multiple identities. They also exposed a lengthy criminal record.
2. It helps firms assess whether an individual can perform in a job – a background check can reveal violations or suspensions that may influence the individual’s ability to perform negatively.
3. It helps the business to avoid liability
4. It helps the company to get the full, clear picture of who the applicant is
5. It helps to expose dishonesty
