Employee Screening Must Be Raised to Higher Standards, Acxiom(R) Executive Tells Security Industry Conference
September 25 2006 - 9:09AM
Business Wire
While employee background screening has come to be accepted as a
necessity in today�s business climate, a simple background check
could be inadequate and may leave companies open to increased
shrinkage costs and charges of negligent hiring, said Michael Cool,
business unit leader for Acxiom� Information Security Services, a
unit of Acxiom Corporation (Nasdaq: ACXM). Cool, in a presentation
at the 2006 American Society for Industrial Security (ASIS)
conference, said thorough background checks and efficient screening
that comply with government regulations �can significantly reduce
the costs� created by employee theft while protecting organizations
from the risk of negligent hiring. �Experts agree that more than 10
percent of the U.S. population has a criminal record, and a
significant portion of this pool has violent or sexual misconduct
convictions,� Cool said. �Negligent hiring litigation could result
in financial penalty as well as damage to an organization�s image
and brand. �According to the U.S. Chamber of Commerce, employee
theft creates an annual loss of 1 percent to 2 percent in gross
sales. About 30 percent of all business failures are directly
related to employee theft. In today�s post-9/11 world, security
requirements and screening standards must be significantly
increased to protect any organization or business from the high
costs of workplace violence, employee theft and employee turnover
created by fabricated resumes or applications.� Cool, who has been
a leader in the industry for nearly 10 years, presented the
conference attendees with a comprehensive analysis of the core
components of employee background investigations, including
government regulations, screening standards related to vendors and
overseas employees, the implementation of government-sponsored
checks, the effectiveness of real-time versus database search
methodologies and the execution of corporate policy to aid in
ensuring consistent, legally-insulating screening programs. About
Acxiom Corporation Acxiom Corporation (NASDAQ: ACXM) integrates
data, services and technology to create and deliver customer and
information management solutions for many of the largest, most
respected companies in the world. The core components of Acxiom's
innovative solutions are Customer Data Integration (CDI)
technology, data, database services, IT outsourcing, consulting and
analytics, and privacy leadership. Founded in 1969, Acxiom is
headquartered in Little Rock, Arkansas, with locations throughout
the United States and Europe, and in Australia and China. For more
information, visit www.acxiom.com. Acxiom is a registered trademark
of Acxiom Corporation. While employee background screening has come
to be accepted as a necessity in today's business climate, a simple
background check could be inadequate and may leave companies open
to increased shrinkage costs and charges of negligent hiring, said
Michael Cool, business unit leader for Acxiom(R) Information
Security Services, a unit of Acxiom Corporation (Nasdaq: ACXM).
Cool, in a presentation at the 2006 American Society for Industrial
Security (ASIS) conference, said thorough background checks and
efficient screening that comply with government regulations "can
significantly reduce the costs" created by employee theft while
protecting organizations from the risk of negligent hiring.
"Experts agree that more than 10 percent of the U.S. population has
a criminal record, and a significant portion of this pool has
violent or sexual misconduct convictions," Cool said. "Negligent
hiring litigation could result in financial penalty as well as
damage to an organization's image and brand. "According to the U.S.
Chamber of Commerce, employee theft creates an annual loss of 1
percent to 2 percent in gross sales. About 30 percent of all
business failures are directly related to employee theft. In
today's post-9/11 world, security requirements and screening
standards must be significantly increased to protect any
organization or business from the high costs of workplace violence,
employee theft and employee turnover created by fabricated resumes
or applications." Cool, who has been a leader in the industry for
nearly 10 years, presented the conference attendees with a
comprehensive analysis of the core components of employee
background investigations, including government regulations,
screening standards related to vendors and overseas employees, the
implementation of government-sponsored checks, the effectiveness of
real-time versus database search methodologies and the execution of
corporate policy to aid in ensuring consistent, legally-insulating
screening programs. About Acxiom Corporation Acxiom Corporation
(NASDAQ: ACXM) integrates data, services and technology to create
and deliver customer and information management solutions for many
of the largest, most respected companies in the world. The core
components of Acxiom's innovative solutions are Customer Data
Integration (CDI) technology, data, database services, IT
outsourcing, consulting and analytics, and privacy leadership.
Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas,
with locations throughout the United States and Europe, and in
Australia and China. For more information, visit www.acxiom.com.
Acxiom is a registered trademark of Acxiom Corporation.
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