Vetting is the process of thoroughly investigating an individual, company, or other entity before making a decision to go forward with a joint project. A background review is a vetting process.
Some of the examples of vetting
- A board of directors will thoroughly vet a candidate for company CEO or another top management position.
- An investment adviser will vet a potential investment for its track record, management quality, and growth potential before recommending it to clients.
What vetting entails?
A vetting process might begin with a confirmation of facts. Is the job candidate’s resume accurate in describing all the skills and experience that are claimed? Does the contractor called Worldwide Shipping have actual experience shipping worldwide? The process continues with the verification of information. Every degree, award or certification claimed by a candidate is checked for accuracy. Whether it is a person, a company, or an investment that is being vetted, the process gets deeper, and potentially more intrusive, from there. Credit history checks, criminal background checks, and personal interviews with past and current associates all are fair game in the vetting process.
Heavy reliance on vetting by governments can raise concern on high costs as well as long delays.
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