Prevalence of Credit Checks in Employee Screening
How prevalent are credit checks for screening new employees? Perhaps this varies between smaller companies, mid-size firms, and Fortune 500 companies. How likely are the results to derail a hiring decision? Are hiring managers notified of these results, or do they remain within the HR function?
For context, I’m an accounting/finance professional with a public accounting background. However, I’ve made some poor financial decisions and have a fair amount of debt, including credit cards and a personal loan. I’m trying to understand what role this plays in a hiring decision and to what degree it might impact my candidacy for new roles. I’m in the US and interested in both accounting roles (controllership) and finance roles (FP&A, Corporate Development, etc.).
From United States, Cape Coral
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How prevalent are credit checks for screening new employees? Perhaps this varies between smaller companies, mid-size firms, and Fortune 500 companies. How likely are the results to derail a hiring decision? Are hiring managers notified of these results, or do they remain within the HR function?
For context, I’m an accounting/finance professional with a public accounting background. However, I’ve made some poor financial decisions and have a fair amount of debt, including credit cards and a personal loan. I’m trying to understand what role this plays in a hiring decision and to what degree it might impact my candidacy for new roles. I’m in the US and interested in both accounting roles (controllership) and finance roles (FP&A, Corporate Development, etc.).
From United States, Cape Coral
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Credit checks on job applicants in India
Credit checks on job applicants are unheard of, at least in India. Taking credit or a loan is a personal matter. Why a hiring company should inquire about such personal matters is not understood.
Nevertheless, if there is a default in payment and a bank or financial institution has filed a police complaint or civil suit, then this disclosure must be made. In many organized companies, a declaration regarding involvement in criminal cases is obtained, but that is a separate matter altogether.
Thanks,
Dinesh Divekar
From India, Bangalore
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8072Credit checks on job applicants are unheard of, at least in India. Taking credit or a loan is a personal matter. Why a hiring company should inquire about such personal matters is not understood.
Nevertheless, if there is a default in payment and a bank or financial institution has filed a police complaint or civil suit, then this disclosure must be made. In many organized companies, a declaration regarding involvement in criminal cases is obtained, but that is a separate matter altogether.
Thanks,
Dinesh Divekar
From India, Bangalore
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