If your organization utilizes a vendor network with contractors to deliver products or provide repair, installation, or services, you know you are immediately ‘linked’ to any contractor network used and those people in it – whether you like it or not. Think about that.
That means that when an issue arises, it is your organization – your reputation, risk, financial and operational outcomes that are on the line and connected to each of those contractors. You can’t pull back at arm’s length and say, “they aren’t mine,” and try to absolve yourself of negligent retention claims. Your organization remains accountable for the individuals that you send out to sites. For this reason, you need to be able to demonstrate due diligence, which includes conducting vendor background checks.
Vendor due diligence is standard in most vendor management programs and evaluates a vendor’s risk to the organization’s business operations. Knowing your vendors and mitigating any chance they may pose is a critical ingredient in business success.
Vendor background checks should not be a singular event. The risk continues throughout the relationship you have with your vendor network, which means rescreening and continuous criminal monitoring may also be essential services to add to your vendor background check program.
To discuss how you can implement these solutions in your organization, fill out our online contact form today.
Contents are provided for information purposes only and should not be construed as legal advice. Users are reminded to seek legal counsel with respect to their obligations and use of PlusOne Solutions services.
About PlusOne Solutions
PlusOne Solutions has been an industry leader in the risk management field by specializing in compliance programs that meet the complex challenges of geographically dispersed contractors, vendors, and employee networks. PlusOne Solutions protects companies from possible financial, legal, and reputational risks associated with contractor and vendor relationships while creating safer work environments. To learn more, visit https://www.PlusOneSolutions.net.
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