Income & Employment Verification for Employers
Automate income and employment verification of your employees at no cost.
Employment verification needs are a critical responsibility of HR and have a negative or positive effect on the employee experience. However, the task also stretches your busy HR team. Why improve the verification process? Fast and secure verification fulfillment demonstrates value to your employees making a significant purchase or other life change. This shows your employees you care about their well-being while prioritizing their data security.
- Fast employment and income verification
- Top-of-the-line security
- Data shared only with employee-consent
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Streamline your income and employment verification process
Automate income & employment verification services for your employees using the most contemporary solution on the market. Streamline the workflow by allowing verifiers to submit verification requests to Experian directly and allow a safe, express-consent-driven process for them. Our system covers everything, whether it’s income verification, employment verification, social service request, or a custom verification letter. Eliminate all internal manual verification labor and shift the cost away from your organization towards the verifiers.
Maintain complete compliance with data privacy laws
Our income & employment verification services are 100% compliant with all federal and state privacy acts and laws and ensures the data is given only to verifiers with a permissible purpose and with the express consent of your employees. Ensure maximum security of your employees’ personal data with the help of the most contemporary security protocols and measures.
A smooth verification process for all parties
Ensure a seamless user experience for both verifiers and employees. From the moment the users log in, they are guided through a thoughtfully created workflow guaranteeing a swift verification completion. Verifiers can obtain verification immediately - 24/7 - whereas the employees decide to allow the verifier access to their data by approving their request and providing the additional information needed. Our customer support team will help with any issues, eliminating the burden on your team.
Trust and Protection with Security
We take it as our responsibility to be a world-class data steward of information. Experian works diligently to protect our systems in many ways including scanning the perimeter for open access and scanning applications for regulatory compliance, blocking unauthorized access while permitting outward communication, examining network traffic flows to detect and prevent vulnerability exploits and filtering/monitoring/blocking HTTP traffic to and from web applications.
Six Ways to Better Serve Your Employees’ Verification Needs
Verification of employment and income is key to your employees during important life events such as buying a house or car, renting an apartment, securing financial loans, or applying for government programs or assistance.
This webinar covers:
- Having an efficient employment verification system in place
- How to securely share information with third-party requestors
- How Social Service application needs differ from Commercial
- Providing the complete income picture including expanded wage types
- Navigating the complexities of ‘employment certification’ for Public Service Loan Forgiveness
- Offering employees self-service options including customizable letters
Public Service Loan Forgiveness Verification
From teachers and non-profit workers to nurses and lawyers, the Public Student Loan Forgiveness program can help those working in specific public service roles reduce or eliminate their student loan debt. Help borrowers find relief quickly with our Public Service Loan Forgiveness verification services. Our new verification portal makes it easy for loan providers to verify income and employment information from student loan borrowers to ensure they qualify for this student loan forgiveness program.
Expanded Wage Buckets
Clients working with Experian Employers Services can benefit from expanded wage buckets. When looking for an employment verification service, it’s crucial to classify employees’ income into the correct categories. With more wage buckets to choose from, you can easily ensure income is placed in the proper category.
Customizable Employer Letters and Templates
One of the biggest challenges organizations face is being bogged down with time-consuming paperwork that takes away from other areas of the business. Experian Employer Services’ employment verification service allows organizations to create custom employer letters and templates. Rather than drafting a new document for the same situation or scenario, you can use templates to collect the employment information you need. This way, you can quickly respond to employees to boost efficiency and satisfaction.
Add E-Signatures to Letters
When it comes to employment verification, strict guidelines need to be followed. Employees must give consent to verifiers to access their information, while employers must ensure compliance and legality throughout the process. With Experian Employer Services, you can easily add electronic signatures that are legally binding to any letter or document. The ability to sign compliant signatures on your employment verification documents reduces wait time to ensure a streamlined process. More importantly, e-signatures are secure, providing peace of mind that sensitive information is kept in the right hands.
Related Employer Verification Services
The employment verification process is just one area of workforce management. Experian Employer Services is your comprehensive workforce management solution with a wide range of services that help ensure compliance, efficiency, and employee satisfaction. Explore our related services below:
- ACA Compliance: Our all-encompassing workforce management solution helps ensure you remain ACA compliant
- I-9 Management: Easily manage I-9 forms to create a mistake-free workflow. With our I-9 management solution, you can reduce your audit risk, easily organize employee information in our dashboard, and save time during the employee onboarding process.
- Unemployment Cost & Claims Management: Reduce the cost of managing your unemployment claims with our unemployment management service, where you can recover overpayments, receive a complete hearings representation, and ensure compliance throughout the entire process.
- Tax Credit Management: Maximize your possible return to help boost your bottom line with our tax credit services that handle tax credits like the Work Opportunity Tax Credit (WOTC), and Employee Retention Tax Credit (ERTC).
To see how Experian Employer Services can help your organization throughout the employment verification process, schedule a demo today or speak to one of our specialists.
Securely Sharing Information for Employment Verification
When it comes to employment verification, safeguarding confidential information is critical. During the employment verification process, you will need to protect sensitive employee information, such as name, address, reviews and evaluations. By using trusted employment verification services, you can protect yourself and your employees by protecting sensitive information. Review this guide on how to implement security measures when sharing information.
Do I Have to Respond to Employment Verification Requests?
Employment verifications are used by a variety of professionals, such as landlords, employers, banks and government agencies, to ensure a tenant, employee or borrower’s employment history is correct. These entities send employment verification requests to an employee or applicant’s current or former employers to determine their eligibility for a loan, employment or other benefits. Learn why it’s important to respond to employment verification requests and best practices for responding in this guide.
Defending Against Fake Employment Verification
Whether you’re a landlord, employer or financial institution, ensuring an employee or borrower provides accurate employment information is crucial. However, in today’s digital age, fraud is on the rise, as generating fake pay stubs or falsifying resumes is becoming easier. In this guide, you will learn about common methods used for fake employment verification, its consequences and how verification of employment services can help prevent fraud in employment verification.
What Is Verbal Verification of Employment?
Workforce employment verification is crucial to building a strong and trustworthy team, lending to qualified borrowers or renting to reliable tenants. However, getting written employment verification isn’t always possible, causing employers, landlords or financial institutions to get verbal verification of employment. Unfortunately, verbal verification of employment poses several downsides. Explore the potential consequences of verbal employment verification and how employee verification services can help.
What Are Employer Services?
Employer services refer to the resources, tools and expertise a workforce management partner can provide another organization, including employee verification services. In this guide, we dive into what employer services are and how they work, ways a trusted employer services partner can save your organization money and what employer service partners offer.
What Is Employment Verification Permissible Purpose under the FCRA?
The Fair Credit Reporting Act (FCRA) is a piece of federal legislation designed to protect the collection, use and dissemination of consumer information, particularly credit information. When it comes to financial institutions, landlords or employers using employee verification services, they must abide by FCRA guidelines with the requirements for a permissible purpose when verifying employment information. Learn more about the permissible purpose under the FCRA, a recent legal advisory designed to protect the privacy rights of individuals subject to employment verification checks and how to prevent FCRA violations in this guide.
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Income and Employment Verification Services FAQs
Income verification refers to the process of verifying an individual’s reported income. Many employers, landlords, lenders and government agencies turn to income verification services to ensure an individual reports their income accurately. There are several ways employment and income verification services can verify an individual’s income, such as:
- Tax returns: An individual’s tax return is a reliable and accurate document that lists a person’s income, such as their adjusted gross income, tax credits, deductions and more.
- Pay stubs: Reviewing pay stubs is another method an employer or lender may confirm an individual’s income, as it lists their gross income, net pay and deductions.
- Bank statements: Combing through bank statements is another popular method used by income verification services, as they can be used to verify deposits, withdrawals and balances.
These are just some of the methods employed by an income verification service to confirm an individual’s income.
There are several reasons why income verification is essential. For example, lenders like banks often verify income to determine an applicant’s loan repayment ability. In contrast, a landlord may verify income to determine whether a potential tenant can afford their monthly rent payments. As for employers, they may need to verify a job applicant’s income to confirm their qualifications, confirm the accuracy of their application or ensure the applicant can meet their financial responsibilities.
Employment verification is the process of verifying an individual’s employment history, both past and present. Several entities, such as employers, lenders, landlords and government agencies, typically use employment verification services. Confirming a person’s employment history, income and employment status can help them determine if an individual is a trustworthy fit.
The employment verification process includes several important steps, which include the confirmation of the following details:
- Salary or hourly rate
- Date of employment
- Position or job title
- Job performance
- Reason for leaving
By confirming these important details, employers, lenders, landlords and other entities can gauge an individual’s trustworthiness and ability. For example, a landlord may need to verify a prospective tenant’s employment history to ensure they’re earning enough income to afford rent. In contrast, a lender must determine an individual’s loan repayment ability. Not only can employment verification confirm a person’s financial strength, but it can also help prevent fraud and protect both parties.
An employment verification service is a third-party entity that handles the employment verification process. When hiring an employment verification service, they will be able to contact previous employers through phone, email or other means, to verify the information an individual provided, such as information on a job application or on a lease application.
Employment and income verification services can also use online databases or review employment records and other relevant documentation to verify someone’s employment status, work history, income and more. With access to a wide range of tools and resources, employment verification services can save HR departments time and money by providing fast, accurate and efficient results.
Working with the right employment and income verification service provider is essential for a variety of reasons. Some of the top reasons you need the right partner to help verify the income and employment history of an individual include the following:
- Accuracy: The right provider can help provide accurate results you can trust so you can make informed decisions, whether hiring the right job applicant or confirming the right tenant for your rental property.
- Security: Income and employment verification requires handling confidential information. Working with a reputable employment verification service provider can ensure all sensitive information stays in the right hands.
- Compliance: Local, state and federal laws that come with income and employment verification, and the right provider can help ensure you remain in compliance through the entire process.
At Experian, we offer a wide range of employer services, including income and employment verification services that can help ensure you hire a strong team. With our verification fulfillment, you can have peace of mind knowing you’re in compliance with all laws and regulations, such as privacy and anti-discriminatory laws. Additionally, you can increase the efficiency of your HR team, as our services can help save time and money that can be allocated to other areas of your business. Contact us today to see how we can streamline your income and employment verification process.
No, employers are not legally required to respond to income or employment verifications. However, many employers respond to assist other employers and remain professional. However, some employers may only disclose certain information regarding previous employees.
Certain information must be disclosed to conduct an accurate investigation of an individual’s employment background. Some information includes:
- Individual’s full name
- Social Security number
- Name and address of current and previous employers
- Dates of employment
- Job title
- Salary or hourly pay rate
No, employment verification is not the same as a background check. While both processes are often used during the hiring process, employment verification involves verifying someone’s employment history, income and work experience by contacting current and former employers. In contrast, a background check is diving into an individual’s criminal, personal and financial background.