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Why Invest in Employment Verification?

A vital part of the hiring process is pre-employment screening, where companies determine the truth of what is on a person’s resume and other details about their background.

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A vital part of the hiring process is pre-employment screening, where companies determine the truth of what is on a person’s resume and other details about their background. This process is known as “Employment Verification.” It is critical for companies who want to ensure they are hiring the most qualified and experienced professionals possible.

While most businesses have screening measures in place, these practices can vary from in-house, extensive background checks to outsourced third-party verification. For a business, it’s worth asking: What is better to invest in, an entire in-house team or a third-party provider?

In-House vs. Third-Party Verification

Pre-employment screenings investigate a person’s employment history, job titles, education, and other topics of interest. The wisdom of investing in an in-house or third-party verification depends on multiple factors.

An in-house screening conducted by the HR department can have many advantages over outsourcing. For one, there’s no queue or delay in starting the screening process. In-house verification can also lower the costs, at least for large corporations. But for small and medium businesses, the cost of staffing a full-time verification team can be unreasonable.

A third-party employment verification provider completes advanced fact-checking for employers. This service assures would-be employers that their prospective hire is top-notch. Businesses that perform this service charge reasonably little for their work, often only charging a low, flat rate per employee researched. Cost differences may also arise for someone who wants to do more thorough background checks or bulk background screening. Companies that perform these verification procedures can also conduct more in-depth research for high-profile or high-risk jobs that may require a security clearance.

How Screening Impacts the Bottom Line

Whether to screen employees for criminal history or to confirm their professional history, background checks are prevalent in the US and abroad. But is it worth investing in more rigorous procedures for your company?

Background checks are one aspect of employment verification that gives an employer peace of mind. With issues like criminal history and drug screenings taken care of, employers and HR managers can focus on other aspects of the hiring process.

Another reason for a hiring manager to hire a third-party provider is to remain competitive. Businesses worldwide are vetting their would-be hires with critical lenses by studying their resumes and performing tasks like transcript translation and verification. These measures are part of efforts to improve the quality of their hires and meet the demands of a global workforce.

Beyond being part of safeguards to protect their workforce, rigorous screening practices also assuage concerns for clients and other investors. They provide an assurance that only the best and brightest are in their offices and that they are all working towards the same goal.

Final Thoughts

Investigating the history of would-be hires is an important task. This work improves the safety and morale of a workplace. Whether you hire in-house staff or third-party professionals, high-quality screenings are crucial. Either way, it’s a part of the hiring process worth investing in—your clients and employees will certainly appreciate your efforts!

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Kaduna Workers To Start Earning N72,000 Minimum Wage November, Bayelsa Gov Budgets N689.4bn For 2025

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Minimum-wage

Workers in the employment of the Kaduna State Government will start earning the sum of N72,000 as minimum wage from November, this year.

This came as Governor Uba Sani approved the new minimum wage of N72,00 and promised continued prioritisation of civil servants’ welfare.

Sani, in a statement released by his Chief Press Secretary, Ibraheem Musa on Thursday, the decision is in conformity with his lifelong commitment to promoting and protecting workers’ rights.

The governor also promised to improve the living conditions of the poor, vulnerable and underserved in Kaduna.

He also revealed his plan to launch a free transportation scheme for civil servants with the release of 100 CNG buses.

Sani said the free transportation scheme, which included the release of 100 CNG buses, is designed to alleviate the suffering of workers and enhance their productivity.

The governor noted that the buses would convey civil servants to and from work, providing relief from transportation costs while noting that a Joint Management Committee consisting of representatives of organized labour (NLC and TUC) and the State Government will be set up to manage the Free Transportation Scheme for civil servants.

In another development, the Bayelsa State Governor, Douye Diri, on Thursday presented a 2025 budget of N689.4 billion, titled the “Budget of Assures Prosperity,” to the State House of Assembly.

He pointed out his administration’s goals for enhanced socio-economic and infrastructure development.

Emphasising on building on the gains and lessons from his first term in office, Diri reiterated his government’s desire to advance the state’s socio-economic and infrastructural landscape.

He said his new mantra, the ‘ASSURED Agenda,’ which outlines seven strategic pillars to drive economic growth, social development, infrastructure improvement, environmental sustainability, cultural preservation, and good governance, would be funded through various streams, including an opening balance of N14.2 billion, statutory allocations of N17 billion, VAT estimated at N57 billion, and 13% derivation and refunds amounting to N138.8 billion.

In addition, the governor revealed that the state expects N29.1 billion from excess crude refunds, N103.1 billion from exchange gains, N39 billion from internally generated revenue, N39.4 billion in grants, and N141.4 billion from capital receipts, including electronic money transfers, signature bonuses, cash calls, and loans.

Diri detailed that personnel costs would take N108.34 billion, accounting for 13.3% of total spending, with N91.96 billion for salaries, N19.3 billion for pensions and gratuities, and N3.34 billion for CRFC transfers.

He noted that overheads would consume N79.66 billion, representing 11.55% of the budget, while the total recurrent expenditure stood at N263.38 billion, or 38.2%.

According to him, this category covers grants, contributions, subsidies (N9.15 billion), a 10% SUBEB contribution (N2.5 billion), rural development authorities (N4.5 billion), and public debt servicing (N52.95 billion).

Capital expenditure is set at N404.76 billion, with a planning reserve of N21.3 billion, bringing total capital allocation to N426.07 billion or 61.8% of the budget.

Providing a sector-by-sector breakdown, Diri revealed that N178.76 billion is earmarked for Works and Infrastructure, while Education will receive N35.85 billion. Other allocations include Urban and Housing Development (N13.68 billion), Energy and Power (N14.45 billion), Agriculture (N16.65 billion), Security (N19 billion), Healthcare (N19.19 billion), and Community Development (N10.2 billion).

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Jigawa Governor Announces ₦70,000 Minimum Wage Amid Mourning of Tanker Explosion Tragedy

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Days after a petrol tanker explosion claimed the lives of about 200 residents in Jigawa State, the state governor, Umar Namadi has announced a new minimum wage of ₦70,000 for civil servants in the state.

The latest development was made known during the submission of a report from the state’s minimum wage committee at the Government House in Dutse.

The committee said the report considered several critical factors, including the current inflation rates and the necessity to maintain a motivated and efficient workforce amidst economic uncertainties.

After reviewing the report, Governor Namadi announced the new minimum wage and also reaffirmed his administration’s commitment to improving the welfare of the state’s workforce.

“We are resolved to pay our workers ₦70,000 as the new minimum wage,” he stated during the announcement.

The governor explained that the increment aims to alleviate the financial challenges faced by civil servants and is reflective of the economic and fiscal capabilities of the state.

He assured workers of a swift implementation of the new wage.

This latest development comes days after a petrol tanker exploded in the state leaving about 200 people dead and many injured.

On Tuesday while briefing President Bola Tinubu on the incident at the State House, Abuja, Namadi disclosed that 181 people died and 210 families were affected in the tanker explosion.

The tanker, laden with petrol exploded at Majiya town, along the Kano-Hadejia expressway in Taura LGA of Jigawa state.

The governor told the president that 80 people were hospitalised due to the incident, adding that the state government has paid their bills.

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Akwa Ibom Governor Approves N80,000 Minimum Wage For Workers

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Governor Umo Eno of Akwa Ibom has validated a new minimum wage package of N80,000 for workers in the employment of the state government.

Eno has joined other states including Lagos, Edo, Rivers among others who had taken steps to pay their employees the new minimum wage.

Investors King had reported that the Federal Government and the Nigeria Labour Union had signed a Memorandum of Understanding for N70,000 as least amount to be earned by Nigerian workers, especially those employed by civil authorities.

Some other states including Osun, Oyo, Zamfara among others have not announced the amounts they would be paying their workers.

Making the approval of the N80,000 minimum wage known on Wednesday, Governor Eno also constituted an implementation committee for the smooth kick-off of the new wage regime with the Head of the Civil Service (HoCS), Elder Effiong Essien, as Chairman.

According to the governor, the committee has one month ultimatum to deliver its report on the wage increase harmonisation.

The Commissioner for Information of Akwa Ibom, Comrade Ini Ememobong, while addressing newsmen, listed other members of the committee to include the Chairman, Local Government Service Commission (LGSC) and Permanent Secretaries in the Ministries of Finance and Department of Establishments.

Others are the Permanent Secretary, Ministry of Labour and Manpower Planning; Permanent Secretary/Solicitor General, Ministry of Justice; Permanent Secretary/Accountant General; Permanent Secretary, Local Government Service Commission (LGSC); Permanent Secretary, Office of the Head of Civil Service; Director of Budget and the State Chairman, Joint Public Service Negotiating Council.

The list also has the Secretary, Joint Public Sector Negotiating Council; State Chairperson, Nigeria Labour Congress (NLC); State Chairman, Trade Union Congress (TUC) and the State President, Nigeria Union of Local Government Employees (NULGE) as members.

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