Employment and Income Verification

Employment and Income Verification

Written by: inverify@dmin on Blog,HR Operations & Analytics,Employment & Income Verifications,HR Strategy & Leadership

InVerify’s Self-Service Approach

The Human Resources (HR) department is the hub of all things inside an organization, and with the changing workforce, proliferation of digital channels, and increased competitive pressures, your HR role is evolving. To manage it all, simple HR transactions have moved to employee self-service:

  • Updating personal information
  • Direct deposit
  • Vacation management
  • Benefits administration

Many HR departments combine self-service with process automation to reduce the time needed to address the more common, every day administrative tasks and processes. Employees appreciate the flexibility and control, leaving you to focus on meeting the needs of the business and on more higher value employee initiatives.

The Role of Self-Service in Employment and Income Verification

If you’re utilizing a vendor for employee and income verification services, chances are that company is unable to support 100% of your verification needs. Research shows that most vendors can only support up to 65% of all verification requests. The remaining requests still require an internal HR professional to manually manage them. These requests usually involve unique internal policies for issues like:

  • Leave of absence
  • Work from home
  • Dependent care
  • Stock options and payouts
  • International travel
  • Immigration

This 35% can cause a drain on your HR team and, because your team is focused on more strategic initiatives, a slow-down in the verification process for employees — leading to frustration.

InVerify offers an automated verification platform that supports all of your verification needs — 100%. In addition, we offer an Employee Self-Service Portal with options that eliminate you as a middle-man and enables employees to log in through single sign-on and execute on the needed documents to fulfill specific employment and income requests.

Verifications requiring your intervention are time consuming. While they are 35% of the overall number of transactions, they consume 73% of your time and effort to fulfill given the complexity of the requests and the back and forth needed to resolve.

Relatively speaking, standard VOEs and VOIs managed by verification service providers are the easier, less time-co

InVerify has the answer.

InVerify’s Employee Self-Service Portal

Our employee self-service options are unique in the industry and put control of verification fulfillment in the hands of your employees, while freeing up valuable HR resources to manage the business. InVerify’s system is designed for companies who actively understand that employee satisfaction is directly related to company success.

InVerify works with you to understand your unique policies and design customized solutions that meet your individual business and employee needs.

The Inverify Self-Service Platform Provides Your Employees With:

GENERAL VERIFICATION INQUIRY MANAGEMENT
  • Employees can log in and run reports to see who has run verification inquiries
  • Gain access to what an actual verification report looks like and what requestors are seeing
  • Portal allows for personal management of employee’s Income Key Code, including setting it up, who can view their information, and setting expiration dates
VOE EXPRESS LETTERS
  • Customized letters used for non-regulated verification requests that don’t involve a processing fee to finalize. (I.e., requests from a landlord, apartment complexes, and auto dealerships)
  • Employees can quickly and easily print custom letters through the portal and personally deliver to requestors
  • Letters populate relevant data including employment start and end dates, company logo, and an electronic signature
CUSTOM VERIFICATION LETTERS
  • InVerify works with you to create custom letters specific to your unique in-house policies including leave of absence, work from home, travel, benefits, and stock options, to name a few
  • Letters outline and explain any unique situation to enable a speedier time to resolution
  • Employees can access these letters directly to supply to requestors without having to engage with HR personnel
  • Transactions are seamless, fast, and do not require multiple steps utilizing several resources to complete

The InVerify Difference: A Personal Touch

Success today means HR professionals are rethinking how they spend their time. Technology solutions that help eliminate day-to-day transactional tasks that keep HR personnel from focusing on employee collaboration, employee retention, and improved work environments, are both highly valued and needed in the industry.

InVerify understands humans are your best resource. We also understand the workforce is changing. Millennials are front-and-center, representing 35% of the workforce — the single largest generation in history. Millennials value flexibility, simplicity, and the ease of accessing whatever they want anytime, anywhere, and on any device.

With InVerify’s self-service solutions, the power is placed in the hands of your employees, freeing you to address more strategic, higher value initiatives. Unlike other verification solutions that require your valuable time to fulfill the most unique, complex requests, InVerify manages these for you.

Customized and innovative. That’s the InVerify difference.

To find out how you can save valuable time and money on employment and income verifications and get back to serving the needs of your business, visit InVerify.net or contact Sales@InVerify.net and request a demo today.

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