Q&A: How do I simplify my employee income verification process?

Adam Kerin, VP of Product Marketing at Truework
Aug 18, 2022

Many steps in the income verification process can lead to headaches for your HR team and your employees. So how can you simplify it to get people what they need without unnecessary stress? To answer this question, Adam Kerin, VP of Product Marketing at Truework, explains how SMB leaders can automate this process for free. […]

Many steps in the income verification process can lead to headaches for your HR team and your employees. So how can you simplify it to get people what they need without unnecessary stress?

To answer this question, Adam Kerin, VP of Product Marketing at Truework, explains how SMB leaders can automate this process for free.

Additional Resources:

Ask a SMB Workplace Question and get featured on POPS! The People Ops podcast.

On this episode, you’ll hear:

  • [00:38] What the process should look like
  • [01:37] Problems that can arise
  • [02:30] How to avoid frustrations using Zenefits and Truework

Transcript

Welcome to pops the show that shows you how to ship from human resources, paperwork to people, operations for the new world of work. How by answering one question at a time I’m Adam Kerin, VP of Product Marketing at Truework here to help answer the question. How do I simplify the in income and employment verification process in my small business to answer.

We’ll explain how SMB leaders like yourself can automate this process for free first. Let’s look how this process should look like. At my previous employer, sch actually verified my income and employment for my mortgage. I applied for the loan. The lender went to verify my information. I received an automated email.

I click approve and voila. I am done. And today I am a happy homeowner, but what’s amazing about this process. Is that no one for my HR team was needed. So let’s give a little background on how verification of income and employment is used. Banks, lenders, and landlords alike may use someone’s income to determine their credit worthiness, true work, automates this verification process for you, which ensures these requests are completed quickly and accurate.

If any employee is waiting for your HR team to respond to a lender, this may be the difference between them landing that dream house or waiting hours at the car dealership. There are many steps in the verification process that can lead to headaches for your HR team and your employees. First lenders can have trouble connecting with the HR team, which leads to delayed or cancel loans, payroll and employment data might be in different systems, creating more work for HR.

Forms from lenders can be difficult to edit PDFs. There can be accidental typos on forms that can slow down the loan process, et cetera, et cetera, et cetera. All of these hurdles can get in the way of completing verifications quickly for your employees. Implementing a tool like Tru work helps turn an HR team from a reactive to a proactive mode.

Without a verification vendor. HR teams always need someone on call to handle incoming request. This can lead to filling out forms on vacation. Having someone take over the process, who’s unfamiliar with it. All of this increases the chance of errors and slower turnaround times. Here’s how to avoid these frustrations for you and your team and enable true work with benefits.

First log into your benefits, admin account, then scroll to the bottom of your dashboard and click. Add an app select true work from that list. Authorize the data being shared with true work and either create or log into your true work accounts and authorize that integration. It’s as simple as that, this is a win-win for your HR team and your employees.

HR gets time back without the need to fill out verification forms themselves and employees get a better and faster experience for their important loans. Also did we mention that this solution is free lenders pay for verification? So there is no cost to you, the employer. So check out true work.com or your benefits help center to learn how true work simplifies the income and employment verification process for your small business.

Do you have a question for us? Click on the link in the show notes, or if you’ve got other ideas and feedback about our show, send them to [email protected].

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About The People Ops Podcast

Every week, we share the decisions, struggles, and successes for keeping up with an evolving workforce and a changing workplace. No matter if you’ve been in HR or are just getting started, this combination of transformational stories with actionable ideas, as well as context on hot issues, keeps you up-to-date while answering the questions you didn’t even know you had.

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