Comments on: 80% of Workers Unaware of Link Between Poor Credit, Job Offers http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/ Recruiting intelligence. Recruiting community. Tue, 02 Dec 2008 17:46:04 +0000 http://wordpress.org/?v=2.6.3 By: Nick Fishman http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3129 Nick Fishman Wed, 19 Sep 2007 06:24:00 +0000 http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3129 Just wanted to note that the people I think didn't do their homework on this release were the people at Visa, not the individual who published this post. Just wanted to note that the people I think didn’t do their homework on this release were the people at Visa, not the individual who published this post.

]]> By: Nick Fishman http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3128 Nick Fishman Wed, 19 Sep 2007 05:09:00 +0000 http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3128 While I found this release from Visa to be very interesting, I think someone neglected to do their homework. It is my understanding that it is impermissable to use an individual's credit score to establish suitibility for employment. While a credit report is within the boundaries of an acceptable screening criteria, the actual score is a no-no. That is why the credit bureaus offer a Consumer Credit Report which can be utilized and evaluated for extending credit and an Employment Credit Report which does not include the credit score or account numbers. While I found this release from Visa to be very interesting, I think someone neglected to do their homework. It is my understanding that it is impermissable to use an individual’s credit score to establish suitibility for employment. While a credit report is within the boundaries of an acceptable screening criteria, the actual score is a no-no. That is why the credit bureaus offer a Consumer Credit Report which can be utilized and evaluated for extending credit and an Employment Credit Report which does not include the credit score or account numbers.

]]> By: David Rees http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3126 David Rees Mon, 17 Sep 2007 05:57:00 +0000 http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3126 On second read, I would consider labeling this story propaganda. We are in the midst of a serious credit crisis in many parts of the US and there are serious concerns about the ability of people to repay their mortgages. If I was Visa, this is what I would think: Uh oh, this housing market looks bad. If people begin to default on their mortgages, they could lose their homes. If they lose their home, their credit is destroyed and if their credit is destroyed, they may not feel the need be so punctual with their monthly credit card payment - after your forclosure takes you from a 730 to a 520, whats another 20-40 points from a late or defaulting credit account. Oh...$%@#!!!!!!! This could get ugly for us. Hey - why don't we let people know that messing up their credit won't just mean annoying phone calls and excess mail, it could mean something really serious! Like...? Hmm - what if you stopped paying your bill and suddenly became totally unemployable? Sure, you would not be able to pay us, but you stopped doing that anyway - and if you aren't going to pay us back, we really don't think you are entitled to participate in the job market. Get the big three on the line! I got an idea! On second read, I would consider labeling this story propaganda.

We are in the midst of a serious credit crisis in many parts of the US and there are serious concerns about the ability of people to repay their mortgages.

If I was Visa, this is what I would think:

Uh oh, this housing market looks bad. If people begin to default on their mortgages, they could lose their homes. If they lose their home, their credit is destroyed and if their credit is destroyed, they may not feel the need be so punctual with their monthly credit card payment - after your forclosure takes you from a 730 to a 520, whats another 20-40 points from a late or defaulting credit account.

Oh…$%@#!!!!!!!

This could get ugly for us.

Hey - why don’t we let people know that messing up their credit won’t just mean annoying phone calls and excess mail, it could mean something really serious!

Like…?

Hmm - what if you stopped paying your bill and suddenly became totally unemployable?

Sure, you would not be able to pay us, but you stopped doing that anyway - and if you aren’t going to pay us back, we really don’t think you are entitled to participate in the job market.

Get the big three on the line! I got an idea!

]]> By: David Rees http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3125 David Rees Mon, 17 Sep 2007 05:49:00 +0000 http://www.ere.net/2007/09/17/80-of-workers-unaware-of-link-between-poor-credit-job-offers/#comment-3125 I would take this with a large grain of salt. The reason 80% of people are unaware of this "risk" is because 80% of people are not "at risk" for this happening. Especially in IT and Engineering fields where competition for the scarce talent is intense. Second - many people in various tech fields are only now recovering from serious financial damage that began during the telecom and internet bubbles. Thirdly, the article represents the mindset of a previous era where the job market was closed and the hiring process was a two way street. No doubt this goes on, but for the majority of people, I think it is a non story. I would take this with a large grain of salt. The reason 80% of people are unaware of this “risk” is because 80% of people are not “at risk” for this happening.

Especially in IT and Engineering fields where competition for the scarce talent is intense. Second - many people in various tech fields are only now recovering from serious financial damage that began during the telecom and internet bubbles.

Thirdly, the article represents the mindset of a previous era where the job market was closed and the hiring process was a two way street.

No doubt this goes on, but for the majority of people, I think it is a non story.

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