How Do I Video InterviewJob Seekers With a Bad Credit Score

How Do I Video InterviewJob Seekers With a Bad Credit ScoreEvery candidate comes with their own set of unique interviewing challenges. Thats why were tackling how to video interview different types of job seekers with this how to series. Today, well be talking about how to deal with a candidate who impresses in the video interview but has a far less impressive leistungspunkt score.Youve connected with a talented job seeker in the video interview, and so far theyve really impressed you with their smarts and qualifications. Things are looking good and youre already counting down the days until you can fill your open position. Before you pop the cork on your hiring champagne bottle, however, you do a leistungspunkt score check.Diving into a candidates credit history isnt simple, and depending on the job and your home state, it might even be illegal (more details below). But in this case, lets say you have the all-clear to check out your ace candidates credit score. Unfortunately, the ne ws isnt good your superstar job seeker isnt such a superstar when it comes to their own personal finances.If youre doing a credit check before inviting a job seeker to sign on the dotted line, youre certainly not alone. According to the Society for Human Resource Management, six out of ten private employers check credit scores for at least some of their candidates before hiring. A further 13 percent check credit scores on every job seeker proceeding through the hiring process.Why Check a Candidates Credit Score?Why do employers look at a candidates credit score before making a final hiring decision? Most employers evaluate credit scores for candidates applying for positions dealing directly with finances. If youre looking for someone to manage the money at your company, it only makes sense to enkoranvers they can manage their own personal finances.Employers also deploy credit checks when hiring executive-level candidates. unterstellung individuals can make a big impact on your compa ny and will likely be dealing with your organizations finances. You want to make sure they are responsible in their own monetary life.A credit check wont be practical for every candidate, but for certain positions, it can certainly provide you with needed information on the candidates skills managing money.Whats a Bad Credit Score?If you dont often use credit checks as part of your everyday hiring process, you might be confused as to what a good or bad credit score looks like. Perhaps the easiest way to evaluate is to understand when you should start to worry about a job seekers credit score.You should take notice of any score below a 700. If the score is below a 650, this should serve as a warning and cause some real reservations. If the score is below a 600, this isnt a good sign for the candidates ability to manage their personal finances.How Do You Stay Compliant?Just like trying to avoid discrimination in the hiring process, employing a credit check should be done mindfully. Un der the Fair Credit Reporting Act (FCRA), employers have to gain permission from the job seeker before conducting a credit check or background check. This means you need your job seekers permission before wading into their credit history. You also have to report what credit reporting agency was used and if you turn down the candidate thanks to a poor score, this must also be reported.And you should be sure you know the guidelines of your specific state. Some states have implemented laws to stop employers from running credit checks unless completely necessary for the position. The latest to put a law in place is California, which joins Washington, Oregon, Hawaii, Illinois, Maryland, and Connecticut. Before asking for a credit check, make sure you know the laws in your individual state in order to stay compliant.Does the Credit Score Matter?Before looking into the individual hiring laws of your state, theres an important question you need to ask yourself Does the job seekers credit sc ore really matter?If the candidate impressed you in the video interview and has all the right qualifications for the job, how important is the credit score in determining organizational fit? If your job is finance-related, the credit score can tell you about the candidates relevant skills. If not, though, ask yourself what insight a credit check will really impart.The economic downturn has hit a lot of people hard. Even those with stellar credit scores are now suffering as workers are laid off from jobs and bills start to pile up. These could very well be the job seekers who need your job the most, and the very same candidates who will make the most motivated employees.If the credit score truly doesnt impact job performance, perhaps its time you relied on other hiring metrics to ensure you find the best person. If the candidate impressed in the video interview, perhaps their credit history is less important than their excitement for the job.A candidate with a bad credit score who fi ts into your company culture and believes in your company mission will be a better worker than a dispassionate candidate with a stellar credit history.What are some reasons you use or dont use credit scores when hiring? Share in the comments