What metrics would you use to evaluate Checkr's Basic+ background check package?

Introduction

Evaluating Checkr's Basic+ background check package requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic understanding of the package's performance and impact.

Step 1

Product Context

Checkr's Basic+ background check package is a mid-tier offering in their suite of background screening solutions. It typically includes services such as SSN trace, national criminal database search, and sex offender registry check. The package caters to businesses of various sizes that need a more comprehensive screening than the basic package but don't require the full depth of the premium offerings.

Key stakeholders include:

1. Employers: Seeking efficient, accurate background checks to make informed hiring decisions.
2. Job candidates: Expecting fair, timely, and transparent screening processes.
3. Checkr: Aiming to provide a reliable, scalable service while growing market share and revenue.
4. Regulatory bodies: Ensuring compliance with fair hiring practices and data protection laws.

User flow:

1. Employer initiates a background check through Checkr's platform.
2. Candidate receives an invitation to provide necessary information.
3. Checkr processes the check, accessing various databases and records.
4. Results are compiled and presented to the employer through the platform.
5. Employer reviews results and makes hiring decisions.

The Basic+ package fits into Checkr's strategy of offering tiered solutions to capture a wide range of market segments. It serves as a middle ground, balancing comprehensiveness with cost-effectiveness. Compared to competitors like HireRight or Sterling, Checkr often emphasizes its modern tech stack and faster turnaround times.

In terms of product lifecycle, the Basic+ package is likely in the growth or maturity stage, given Checkr's established position in the market. The focus would be on optimizing performance, expanding market share, and continuously improving accuracy and speed.