If you’re an employer, there’s no doubt that you’ll eventually get a request from someone to “verify their employment” for one of your current or former employees. There are a number of situations that might call for one of your employees to ask for this, but no matter the reason the responsibility falls on you to make sure you fulfill the request properly in a timely fashion. So here’s a question: if an employee asked you today for employment verification, would you even know where to start? In this article, we’re going to cover the most important things you need to know to handle employment verifications with confidence.
What is Verification of Employment?
When we use the phrase “verification of employment” it refers to formally confirming and validating a person’s employment history. While this is commonly done for potential job candidates as a way to verify their former work history, it’s also a vital service for KYC (Know your Customers) needs and verifying income history. Banks and financial service firms rely on to help build risk profiles for loan applicants and business partners. This is used in all sectors of banking.
Just because the word “history” is used, don’t presume this means just past employment – certain situations will call for an employee to provide verification of where they are currently employed. For example, if an existing employee is attempting to get a loan or a lease, they may need to have their employment verified by mortgage lenders as part of their loan application. The accuracy of how you help these lenders verify employment is critical to the loan process. Accurate details about current employment status can be the difference between your employee getting a home loan or not, having a higher down payment, and other life-changing elements. This is also essential for past employees when they apply for unemployment insurance or various loans.
Employment verification typically verifies a person’s start and end dates of employment at a company, their title, and in some cases their salary information and some information on what was required of them at the job. It’s also frequent for employment verification to inquire why a person is no longer employed and if they are eligible for re-hire.
How Can You Verify Employment?
First, we’ll show you some more analog, old-fashioned methods you can use, followed by the simplest, most accurate, and secure method.
- Pay Stubs – Commonly used for loans, leases, and sometimes for immigration.
- Contracts – If the employee is contract-based, former contracts can serve as proof of employment.
- Reference Call – This is a form of verbal verification is often used by potential employers verifying a candidate’s employment.
- Letter – These can be electronic or physical, and are often used for immigration purposes and loans.
- Email or social media platform – All too often, employment verification is carried out like this. Information on sites like LinkedIn can be falsified.
Quentelle is the Best Way to Verify Employment
If you’re looking for the absolute best in class when it comes to employment verification solutions, you’ve found the right partner. Here at Quentelle, we offer a simple, powerful solution for businesses just like yours to verify employment.
Rather than writing a letter, collecting paystubs, or digging up old contracts, you can quickly and easily verify employment using our all-in-one software solution.
Our software is smart and simple and will improve the way you handle the verification of employment moving forward. Schedule a demo today by filling out a form, or giving us a call.