World

Emergency loans can be the Answer to the Financial Crunch During the COVID-19 Crisis

Published

4 years ago

May 31, 2020

Everyone thought that 2020 was going to be their year, but that wasn’t the case. The COVID-19 Pandemic had different plans in store. Most of the countries have been under lockdown since the coronavirus crossed the borders and traveled across countries.

Schools, offices, courthouses, restaurants, parlors, and gyms are closed. Even though people are happy to spend time at home, it is started to affect them financially. The world economy doesn’t look so good and is crippled, to be honest. In this dire financial situation, people are worried about paying their bills.

Many have lost their jobs, and many haven’t received salaries. There have been salary cuts as well. People are struggling to make ends meet after being out of work for months. Nobody has any idea when the lockdown will ease, and things will go back to normal. Until then, everyone is to stay home and stay safe.

Under these circumstances, there are ways in which people can deal with the financial crisis. The state and the federal government are doing everything in their power to provide relief to anyone who is suffering from financial hardship due to the lockdown.

People who had been wise as to open an emergency fund can use that money to go through these tough times. One can also ask their bank or credit union whether they have borrowing options available.

Creditors also have provisions for customers during hardships. And some are even offering bad credit loans guaranteed approval to help in these times. They can temporarily reduce your interest rate or payment amount, or pause your payment. If this does not work out, then you can get a credit card with a 0% annual percentage rate so that you can avoid the unnecessary interest.

The last resort is taking emergency loans. You can always borrow money from family, but it can create an unnecessary rift. There are many lenders out there who can offer you with emergency loans, no matter how small or big.

World

Creating Better Hiring Practices: How KENTECH Can Improve New Employees

Published

8 hours ago

September 15, 2024

Rosario Farell

Although some may think background checks are only necessary for high-security jobs like government positions or teaching roles, most employers could benefit from the additional insights that a background check provides. In addition to providing information about an applicant’s criminal history, employers can use background checks to understand their abbreviated credit history or confirm information like employment, educational, and licensure history.

Why background checks are important

Unfortunately, while one would like always to assume the best, the truth is that not everyone is telling the truth. A study by SHRM found that 31% of people admitted to lying on resumes, while 56% admitted to “stretching the truth.”

This statistic makes it abundantly clear that business leaders must not feel comfortable simply trusting prospective employees’ applications at face value. It’s better to be safe than sorry, so a background check is used to confirm important information about an applicant and help make a better, more informed hiring decision.

At KENTECH, a leading background check technology provider, the team likes to say that they help their clients hire “not just the best person, but the right person.” After all, the cost of hiring and onboarding a new employee is extensive. Indeed reports that these costs can range from $4,000 to $20,000 per new employee.

If a hiring decision is made, only for that person to not perform well in the role and have to be let go shortly after, that’s a lot of money wasted. It’s better to make sure that you are making the right decision from the beginning.

KENTECH’s revolutionary background check technology

Some of KENTECH’s cutting-edge background check technology solutions include:

● Employment Verification Program (EVP): KENTECH’s Employment Verification Program is a web-based service designed to help streamline the background check process for employers. It gives employers one location through which they can manage the entire process from start to finish. Users can order background checks and verifications and easily manage documents — all from a single, convenient dashboard.

● Report Investigative Scoring Count (RISC): KENTECH’s RISC system helps organizations quickly interpret screening results at a glance. An organization can set up the criteria that matter most to them for screenings, and each background check will be labeled with a color code corresponding to the criteria set by the business. This provides employers with a visual cue for what applications may require closer scrutiny and helps identify which candidates may be most qualified.

● Rapid Application Center (RAC): KENTECH’s Rapid Application Center technology allows applicants to input their information and order background checks themselves. This saves hiring teams time with minimal burden to the applicant. An applicant signs onto a custom-built website and enters their information so administrative staff don’t have to. Administrators then receive email notifications when a candidate posts their information and when results are returned, allowing them to sign on at their convenience to view them.

● Unified Bulk Screening (UBS): For businesses that screen a high volume of candidates, KENTECH also offers a solution called Unified Bulk Screening (UBS). Once business leaders sign into their EVP account and import a list of candidates and their required information, they can see up-to-the-minute results in their portal or opt to receive a consolidated report that displays all results at once.

However, although the primary audience of these developments is the business and its leaders, there are also some significant benefits to the candidate experience. If a background check feels obstructive and frustrating to an applicant, they may form a negative first impression of the business or even give up. The KENTECH team designed their technology to be easy to use, often able to be integrated into the application and HR management system to make the process as seamless and intuitive as possible.

Although background checks might seem like an extreme step for the average employer, with the help of technology like that offered by KENTECH, it doesn’t have to be. KENTECH’s advanced background check technology helps streamline the process, allowing employers to get better insight into their prospective employees without significantly burdening themselves or their applicants. With this, background checks can become a standard, beneficial step in virtually every job application.