Why Employment Verification Is Necessary
An employment record says a lot about a person in terms of their commitment to their employers and their willingness to maintain a job for a long period of time. Getting a verification of employment, either in writing or verbally, will go a long way in proving the credibility of the person you are trying to research. Understanding why verification of an employment letter is needed, and how the information it provides helps to determine risk or improve reputation is important. If you are unsure of how to get a VOE, there are employment verification services that you can hire that will obtain the information for you and provide you with a full report about your candidate’s work history.
What Does Employment Verification Show?
Employment verifications show several things. It provides an employer or lending institution the verification it needs to be able to offer a position or financial assistance. This can mean verification of current employment, the duties they are responsible for, how long they have been employed, and possible work record. Depending on the employer’s policies and protocols, they may only be required to offer you a confirmation or denial of employment. Every situation is different so it is important to know what to expect when you send the request for verification.
Employment Verification for Recruiting or Hiring Purposes
If you are trying to recruit or hire a person, you may want to find out what kind of work they have been doing. You may also want to learn more about what they are capable of and any accomplishments they have under their belt. Employers can provide a wealth of information about a person’s work ethic and their commitment to always doing their best. While this may not be offered in the verification of employment that only provides a confirmation or denial, it can be especially useful if you are asking about a student who is moving into their chosen career field from an entry-level position.
Employment Verification and Home Mortgages or Other Loans
When it comes to home mortgages and other types of loans, verification of employment is essential. In this case, verification of employment is commonly supported by documentation. This can include pay stubs, 1099’s, W-2’s, or a letter of verification that includes the date the candidate was hired and their current wage or yearly income. This information provides the lender with everything they need to prove that you earn enough to cover your financial obligations each month. It also shows consistency and stability that financial institutions rely on to support the risks they are taking when they offer a loan.
Maintaining an Accurate Employment Record
Individuals should always maintain an accurate employment record. When applying for a new position, providing an up-to-date employment record as part of your resume is extremely important. Not only does it provide a chronological work record, but it also provides future employers with previous employers’ contact information. Employers will often go through a candidate’s work history and will contact random employers they have worked for in the past. This is an attempt to, not only verify employment but also find out a little about the employee and their individual accomplishments and work ethic.
Hiring Employment Verification Services
Hiring employment verification services makes it possible for you to get the information you need so that you can make an informed decision based on accurate information. Employment verification services take the time to find out as much as they possibly can and compile a full and highly detailed report that is as accurate as possible. GoodHire is able to provide you with the information you need to achieve your goals for hiring the best possible candidates for every job you post.