Is there a way I can simplify my employee income verification process?
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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.
**First, let’s look at what this process should look like.** At my previous employer, they 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 clicked approve, and voila. I was done. And today I am a happy homeowner. 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 creditworthiness. Truework automates this verification process for you, which ensures these requests are completed quickly and accurately.
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.
**Many steps in the verification process 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 canceled 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. All of these hurdles can get in the way of completing verifications quickly for your employees. Implementing a tool like Truework 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 the incoming requests. This can lead to filling out forms on vacation or having someone take over the process who’s unfamiliar with it. All of these scenarios increase the chance of errors and slower turnaround times.
**Here’s how to avoid these frustrations for you and your team and enable Truework with Zenefits.**
1. Log into your Zenefits, admin account
2. Scroll to the bottom of your dashboard and click “add an app”
3. Select true work from that list.
4. Authorize the data being shared with Truework and either create or log into your Fruework 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.
For more information, you can check out this episode on Zenefits’s podcast:
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