Depending on your perspective, the current employment market (as of summer 2021) represents a crisis, an opportunity, or a mix of both.
Job seekers certainly don’t mind having the upper hand in salary negotiations. But employers hoping for a fast return to full productivity are now mired in a labor shortage instead.
Employment background screening companies — as businesses that benefit from labor market fluctuations and employers themselves — are seeing both sides of the coin.
Our last article explored the current economy and demand for employment verification and explained why Consumer Reporting Agencies (CRAs) have an unprecedented opportunity for growth. We also discussed why some of the same factors driving the employment verifications market are hurting CRAs’ ability to complete those verifications on time with comprehensive coverage.
To quickly recap:
As the economy recovers from the COVID-19 pandemic, hiring and job churn are hitting record levels, with no signs of slowing down. Remote work and the gig economy seem to be here for good. Job candidates can live anywhere and often never meet with their employers in person before starting work.
Strong hiring, job churn, and remote work have sparked extraordinary demand for pre-employment background screening, but CRAs are struggling to meet the demand. Many researchers who were let go during the pandemic are reluctant to return, attracted by higher-paying work elsewhere.
As we wrote in our article, CRAs can transform these challenges into opportunities by looking at how people, processes, and technology help them meet their customers’ needs.
SJV Data Solutions can help you with that.
You probably already know SJV as a leading provider of data technology for the background screening industry. What you may not know is that partnering with SJV can give your organization the flexibility to adapt quickly and thrive amidst a tumultuous labor market.
At SJV, we’ve hired and trained the most skilled people, perfected our processes, and developed cutting-edge background screening technology so that we can supplement your own people, processes, and technology as a seamless extension of your operation, when you need it the most.
Think of the impact: transforming something that took you years to build — with high fixed costs and constant maintenance — into a variable cost in your operational model.
How SJV Innovation Helps CRAs Overcome Volume and Staffing Challenges
One thing hasn’t changed during the pandemic:
The HR professionals, hiring managers and staff coordinators who rely on your background screening information to make informed employment decisions expect accuracy, comprehensiveness and speed. They will not wait for you to work your way through a backlog, and they will not tolerate shortcuts or errors.
With SJV at your side, you’ll have no reason to turn down work for fear of getting backed up, nor will you be forced to take shortcuts to boost your turnaround times. Simply put, your volume will never be too big for our call centers to handle efficiently and accurately with the same attention to detail, comprehensive research and custom reporting that you’d provide if you were doing each verification yourself — We’ve made sure of that.
We have invested millions of dollars (so far) to build state-of-the-art, cloud-powered call center technology based on the same scheduling, automation, and artificial intelligence capabilities that power the fastest and most effective customer service organizations on the planet.
Our advanced algorithms — developed over years of experimentation and data analysis — direct calls to the right people at the right time, eliminating guesswork, confusion, and most importantly, the endless cycle of messages and callbacks. Our specialists are never at a loss as to what to say.
This lets us modulate our operational footprint effortlessly, training new team members in a matter of days to respond professionally and efficiently to any level of volume, even handling the most complex custom requirements.
You won’t find these call center features anywhere else in the background screening industry:
- Automated integrations with third-party providers such as The Work Number, National Student Clearinghouse, and Google for seamless research that expedites the verification process.
- A call-flow engine to manage a customized client experience.
- Customized documentation rules per client.
- Custom call pattern recognition based on your individual customer needs.
- Auto-dialer technology that increases efficiency and productivity. (We beat our closest competitor’s call volume by 120% within the same footprint.)
- Local caller identification to optimize call acceptance rates.
- Complete recordings for historical archiving and auditing purposes.
- Targeted time-zone calling to optimize completion rates.
- The option to complete verification via web and mobile, which increases our successful completion rate.
- Interactive Voice Response (IVR) Verifications.
- Investment in a rules-based engine for adjudication criteria. (Examples of rules include “only report records from the past seven years,” “report felonies only,” and “only report records related to theft, dishonesty, or violence.”)
SJV Data’s massive R&D investments in process and technology ensure the shortest turnaround times and the lowest Unable-To-Verify (UTV) rates in the background screening industry.
“We have the benefit of seeing the processes of hundreds of different CRAs. We have them all in our system. The way our system works, it’s the same people, the same underlying technology, the same dialer, and the same everything else for every CRA we serve. The only difference is the process and the data that’s coming from their clients, and we study that relentlessly.”
— SJV Chief Operating Officer Bill Wilder. (Go behind the scenes with SJV’s R&D department here.)
SJV Is Continuously Improving to Help You, the CRA
We have a unique setup here at SJV. Our verifications unit runs as a separate P&L. What that means is, rather than being a loss leader (as it is for many CRAs), we expect our employment verification work to generate a profit, just like you expect yours to
Why should you care whether or not our verification unit makes a profit? Because the profit mandate motivates our team members to continually strive for a more efficient, more accurate process — a process that becomes an extension of your business when you partner with SJV.
Our verification team leaders are unabashed “data geeks.” To them, every call we make is a data point, and each data point brings us closer to new insights that improve our service.
Find yourself in a conversation with one of our verification team members, and you’re liable to hear something like, “If you go from three calls over three days to four calls over four days, you’ll see a 5% increase in completion rate. If you make four calls in three days, you’ll get a 2.5% increase, but UTV will get worse.”
We think about these things all the time, and we never rest on our laurels. Our experts monitor technological developments in the call center arena closely. We are champing at the bit to integrate the latest innovations into our system — from natural language processing to artificial intelligence — to better serve you, our CRA clients.
(Learn more about finding the ideal background screening data provider in our free guide, “3 Defining Characteristics of a Best-in-Class Outsourced Employment Verifications Partner.”)
Get Started With SJV Data Solutions
So is the surge in volume at your CRA a crisis, opportunity or something in between?
Employment verification can be the most resource-intensive, time-consuming service a CRA offers — by a wide margin. However, during the pandemic recovery era, verification is also the service most in-demand from your customers.
Do you have more employment verification orders than you can handle? Is employment verification work holding you back from taking on other more profitable projects or putting your reputation and brand at risk? Are you looking to fasttrack your own return to profitability and growth after a devastating pandemic year?
Let us show you how our focus on people, processes, and technology can transform your employment verification department into a lean, flexible, scalable growth machine.