The process of hiring a competent background checking company is akin to a delicate dance that requires an intricate balance of precision and patience. The pursuit of accuracy and speed, melded with compliance and confidentiality, is central to this stage of recruitment. The ability to spot a fraudulent claim, detect a criminal past, or verify educational accomplishments can often be the difference between hiring a candidate who will drive your company forward and one who will pull it back. To ensure you're dealing with professionals, it's essential to understand the framework within which background checking companies operate, the tools they utilize, and the criteria that define their reliability.

The crux of background checking, fundamentally, is information verification. Traditionally, background checks were manual, labor-intensive tasks that involved a not insignificant amount of sleuthing. The evolution of technology, however, has revolutionized this industry. Automated databases, AI-assisted algorithms, and Big Data analytics have accelerated the pace and broadened the scope of background checks.

However, this leap in technology does come with its own set of challenges like data integrity, privacy concerns, and false positives or negatives arising from algorithmic limitations. The Hawthorne Effect, a sociological concept postulating that individuals modify their behavior when they are aware they are being observed, can also be applicable here. The knowledge of background checks could potentially compel individuals to manipulate their data, making it imperative for these firms to employ intricate verification techniques.

In hiring an efficient background checking company, the first parameter to consider is their compliance with legal norms. The 'Fair Credit Reporting Act' (FCRA) stipulates that background check firms - officially known as Consumer Reporting Agencies (CRAs) - must ensure accuracy, privacy, and fairness in data reporting. Non-compliance can result in severe penalties, a scenario that no organization would want to inadvertently facilitate.

The next aspect is the company's reputation in the market. A close scrutiny of their clientele, years of operation, and online reviews would offer some insight into their credibility. This process, often referred to as 'social proofing,' is a psychological phenomenon where people mirror the actions of others in an attempt to reflect correct behavior. In this context, it means that a background checking firm is deemed reliable if they have been trusted by other reputable firms.

Then comes the question of speed and accuracy, both of which are critical for a company in the fast-paced corporate world. Leveraging advanced technologies such as machine learning can yield quick and reliable results. Nonetheless, the central limit theorem, a principle in probability theory, states that when an adequate number of individual tasks are performed, the distribution of the results will approach a normal distribution curve. In simpler terms, the more data a background checking company processes, the more reliable their service becomes.

However, an over-reliance on technology can lead to algorithmic bias, a systematic error in the digital output that results from the underlying rules of the system. Even the most advanced AI is only as good as the data it has been trained on. Therefore, a competent background checking company will use a blend of advanced technology and human intellect, capitalizing on the best of both worlds.

Finally, the reliability of a screening company can be assessed by their customer service and after-service support. A company that offers prompt and effective support, respects confidentiality, and has robust dispute resolution mechanisms is a valuable partner in your hiring process.

In conclusion, hiring a reliable background checking company is a business imperative that involves an understanding of legal norms, market reputation, technology application, and customer support. It's a complex decision-making process that, when done right, can significantly mitigate hiring risks and enhance the quality of talent within the organization.