Looking ahead to the new normal, finding and hiring the right talent remains a top priority for human resources. Employment credit checks are an effective tool for optimising the recruiting process by shortlisting qualified candidates who fit your roles. A credit report can provide HR professionals with insights into a candidate’s financial stability and trustworthiness, enabling them to:

• Onboard the right people
• Reduce turnover rate
• Make informed hiring decisions based on comprehensive records
• Minimise losses linked to employee unethical behaviour
• Maintain compliance
• Protect against future liability

Statistics from TransUnion show there’s an increasing demand for employment credit checks — as reflected by the number of employee reference enquiries requested by Hong Kong employers.

The Employment Credit Report provides the pertinent information needed to make decisions quickly and confidently when considering potential candidates or re-evaluating current employees. It shows credit histories and public record information, as well as other items individuals don't typically include in job applications. By revealing potential patterns of inability to meet obligations, this report can also help identify applicants or employees who may be financially overextended.