buis quiz practice

What industry does Checkr operate in?

Background check and hiring technology

What was Checkr’s main innovation in background checks?

Using AI to automate and speed up the process

What issue did Checkr notice shortly after launching?

Candidates with records were being rejected at high rates

What does Checkr’s core business involve?

Providing automated background checks

How does Checkr make money?

By offering background check services to employers

What is Checkr’s stance on fair chance hiring?

It fully supports and advocates for it

What challenge does Checkr face in promoting fair chance hiring?

Convincing executives that it benefits business

What does Checkr’s software primarily analyze?

Court records, credit history, and employment history

Which type of companies use Checkr’s services?

Companies of all sizes

How fast does Checkr complete 84% of its background checks?

15 minutes

What is fair chance hiring?

Offering equal job opportunities to people with records

Why do some companies resist fair chance hiring?

Concerns about safety and liability

What is one benefit of fair chance hiring for businesses?

Higher employee retention rates

How did Checkr integrate fair chance hiring into its own company?

By hiring people with records directly

What percentage of Checkr’s employees have records?

4%

Which law governs Checkr’s background check process?

Fair Credit Reporting Act (FCRA)

What does the FCRA require Checkr to ensure?

Maximum possible accuracy of reported information

How many states have banned the box on job applications?

37

What role does AI play in Checkr’s services?

It automates the background check process

What major efficiency improvement does Checkr offer?

Faster processing times for background checks

What impact does fair chance hiring have on turnover rates?

Lowers turnover

What percentage of fair chance hires at Checkr leave their jobs?

5%

What is the main mission of Checkr?

To create fair hiring opportunities for all

What major initiative did Checkr join in 2021 to strengthen its fair chance hiring mission?

The Pledge 1% corporate philanthropy commitment

What potential future business milestone was Checkr considering?

Going public with an initial public offering (IPO)