Bad Credit Can Hurt Job Seekers
Monica Cotallat, Hudson Community College
Professor Sakina Laksimi-Morrow
English 102
March 17, 2013
BAD CREDIT CAN HURT JOB SEEKERS
I am a student majoring in Graphic/Web Design. This is my 4th semester at Hudson Community College.
A large number of employers use credit checks to make employee selections. A study made by the Society for Human Resource Management (SHRM) in 2010 reported that 47 percent of respondents only use credit background checks for job applicants in certain types of positions, for example, positions with fiduciary and financial responsibilities (SHRM, 2010). Thirteen percent of those surveyed conducted credit checks on all candidates while 40 percent in the SHRM study reported that they did not utilize credit checks on any job candidates (SHRM, 2010). Almost half of employers are running credit checks. What are they looking for? Is it an invasion of privacy? Is it fair? What can be done about? Are people with a blemished financial past scarred for life? The purpose of my paper is to understand why this is happening, examine its reasons and what one can do to help themselves in a competitive work force. There is an array of tools employers use to examine and decide on job applicants and employee job promotions. Typically they will contact references, verify educational and/or professional history, request a criminal history report and in certain situations obtain an individual’s credit history. For some this can create a barrier in the search for employment. A study made by the Society for Human Resource Management (SHRM) in 2010 reported that 47 percent of respondents only use credit background checks for job applicants in certain types of positions, for example, positions with fiduciary and financial responsibilities (SHRM, 2010). Thirteen percent of those surveyed conducted credit checks on all candidates while 40 percent in the SHRM study reported that they did not utilize credit checks on any job candidates (SHRM, 2010). This
Professor Sakina Laksimi-Morrow
English 102
March 17, 2013
BAD CREDIT CAN HURT JOB SEEKERS
I am a student majoring in Graphic/Web Design. This is my 4th semester at Hudson Community College.
A large number of employers use credit checks to make employee selections. A study made by the Society for Human Resource Management (SHRM) in 2010 reported that 47 percent of respondents only use credit background checks for job applicants in certain types of positions, for example, positions with fiduciary and financial responsibilities (SHRM, 2010). Thirteen percent of those surveyed conducted credit checks on all candidates while 40 percent in the SHRM study reported that they did not utilize credit checks on any job candidates (SHRM, 2010). Almost half of employers are running credit checks. What are they looking for? Is it an invasion of privacy? Is it fair? What can be done about? Are people with a blemished financial past scarred for life? The purpose of my paper is to understand why this is happening, examine its reasons and what one can do to help themselves in a competitive work force. There is an array of tools employers use to examine and decide on job applicants and employee job promotions. Typically they will contact references, verify educational and/or professional history, request a criminal history report and in certain situations obtain an individual’s credit history. For some this can create a barrier in the search for employment. A study made by the Society for Human Resource Management (SHRM) in 2010 reported that 47 percent of respondents only use credit background checks for job applicants in certain types of positions, for example, positions with fiduciary and financial responsibilities (SHRM, 2010). Thirteen percent of those surveyed conducted credit checks on all candidates while 40 percent in the SHRM study reported that they did not utilize credit checks on any job candidates (SHRM, 2010). This