If you had to name the biggest economic disrupters of 2014, Uber and AirBnB would likely be at the top of your list. These and other sharing economy companies have introduced a unique transaction model that has completely transformed industries like transportation and hospitality. This model empowers individuals to earn money from their own assets or skills, such as their home, car, or ability to teach Spanish.
It is clear that the sharing economy, sometimes referred to as the peer-to-peer economy, is here to stay. As of last year, 40% of the population participated in the sharing economy and Forbes estimated 2014 revenue from the sharing economy would surpass 3.5 billion. But there is one obstacle that this emerging economy must figure out how to overcome - Trust.
The sharing economy at its core is enabling transactions between strangers. Normally, letting a stranger into your home or getting into a stranger’s car would put the average person on their guard. But sharing economy consumers are trusting that the contractors representing those companies have been vetted. But what if they haven’t?
Unfortunately, even a few bad apples can put trust at risk for the entire sharing economy.
With both consumer safety and company reputation on the line, thorough background screening in the sharing economy becomes increasingly critical. The good news is that advancements in technology and screening techniques have also made proper screening fast and flexible.
Background checks can be easily integrated into a sharing economy company’s existing technology without limiting their ability to process potential contractors quickly. For example, Accurate Background delivers an easy-to-integrate background check API that makes it easy for sharing economy companies to add automated workforce screening into their Web and mobile applications. Applicants just enter their information within the sharing economy company’s app, and we automatically access court records, driving history, employment records, and more. Results are delivered in easy to read, compliant reports. (Learn more about our Sharing Economy solution).
An almost unlimited number of individuals can represent a company’s brand in the sharing economy. With the safety of your customers and brand reputation on the line, why take any chances?