Food for thought - Is it ok
to use a credit report as a tool to filter prospective employees?
A few months ago I spoke
with several distressed job seekers who were refused employment because of
their credit score. This touched my
heart as I feel the recent recession has negatively impacted many individuals
in this way. So in my quest to learn
more I found that approximately 35 percent of Americans have credit scores that
will prevent them from getting good credit terms and 25 percent have bad credit
or a FICA score below 600.
I understand many businesses
have a bona fide reason for checking a prospective employees credit
history. Often cited reasons for
checking a person’s credit include to confirm someone’s identify, determine if
a person can manage his/her affairs (this is especially true for management/executive
positions) or if they have access to cash/assets worth a certain value.
Many people
feel these reasons are not really reasonable or fair and some feel this can
make a person feel like a criminal when they in fact have only ran into a rough
patch (i.e. loss of job). In fact, seven
states have banned or limited the use of a credit check in a job
application.
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recruiterMikeC
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Do crooked CEOs and other top level management have good credit scores before they get caught doing wrong? You bet they do!! Credit scores are just another way to weed out candidates. By the way, most job candidates who have poor or bad credit are non-white applicants. Just food for thought.
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