SupportAutomated Income & Employment Verifications
The Work Number®
by Equifax
Employees encounter life events and financial choices as consumers, such as buying a home or car or applying for government benefits, that require the verification of employment and/or income.
The Work Number from Equifax delivers an automated verification solution that streamlines the transfer of information between employers and verifiers, ultimately benefiting the employee by creating a secure and accelerated decision process.
The Work Number provides instant employment and salary verifications 24 hours a day, 7 days a week, and reduces the level of employer involvement in the process.
The Work Number provides instant income and employment verifications 24 hours a day, 7 days a week, and reduces the level of employer involvement in the process.
Empower your employees with The Work Number.
Employees can obtain the credit and benefits they need when they need them.
Timely, efficient, and secure verification process:
- Instant verifications are available 24/7.
- Increase the speed and accuracy of the decision process.
- Reduce the level of HR involvement with personal transactions.
- Keep personal data secure.
A Network of Credentialed Verifiers
The Work Number is designed to help maintain compliance with the federal Fair Credit Reporting Act (FCRA). All verifiers must complete a credentialing process before gaining access to employee information and provide a permissible purpose for the verification.
The network of over *75,000 organizations with credentialed verifiers utilizing The Work Number includes, but is not limited to:
- Mortgage/auto lenders
- Property managers
- Credit card issuers
- Pre-employment screeners
- Social service agencies
- ACA verifications
These verifiers depend on this automated service to obtain accurate and dependable verifications in seconds, which enables more timely and higher-quality business decisions. Each verification request is tracked and can be provided in a report upon request.
Additionally, employees have 24/7 access to their Employment Data Report (EDR) through The Work Number website, providing visibility into who has requested their information.
How It Works
Automated Income & Employment Verifications Process Made Simple
Frequently Asked Questions
How does The Work Number benefit our employees?
It benefits employees by significantly speeding up processes that require proof of employment or income, such as loan applications, renting an apartment, or applying for government benefits. This means faster approvals for their personal transactions, less paperwork, and reduced need to involve HR departments directly.
Is the employee's data secure with The Work Number?
Yes, The Work Number prioritizes data security. It uses advanced encryption and security protocols to protect personal and employment information. Access to information is only granted to authorized verifiers with legitimate needs, and employees can monitor who has accessed their data.
Furthermore, the 3(16) serves as the fiduciary responsible for processing participant loan & distribution requests as well as making beneficiary determinations. Additionally, the 3(16) is responsible for procuring the required ERISA Fidelity Bond and the timely filing of the annual Form 5500 information returns for the PEP.
So, overall, the named 3(16) Fiduciary Administrator is required to perform all the functions necessary to maintain your plan’s ongoing compliance – relieving all Adopting Employers of these burdens.
How often is employment data updated on The Work Number?
Employment data is updated each time an employer submits payroll information. This frequency ensures that the information available is as current as possible, reflecting any recent changes in employment status or salary.
Can all employers use The Work Number, or is it intended for specific industries or company sizes?
The Work Number is designed to be scalable and beneficial for employers of all sizes and across various industries. Employers requiring frequent employment verifications for their staff can benefit from this service, whether a small business or a large corporation.
How does The Work Number handle incorrect employment information?
Employees can directly contact The Work Number's customer service to dispute and correct the information if incorrect information is detected. Employers can also update the data in subsequent payroll uploads to ensure accuracy.