Is A W-2 Employment Verification A Good Alternative to The Work Number?
May 17, 2024
Employment Verifications can be cost effective however, employment verification fees can be costly. As of this article, which will most likely increase in the future, the standard cost for an employment verification with The Work Number is more than $100. This continues to put added pressure on both human resource departments and organizations a like to view both the cost and overall value of employment verifications that require a third-party data fee. So, is a W-2 Employment Verification a good The Work Number alternative? Here are some of the answers that need to be explored before deciding to perform a W-2 Employment Verification instead of The Work Number:
What does a W-2 Employment Verification require?
Unlike The Work Number, a W-2 Employment Verification requires an additional authorization form signed by the applicant. A W-2 search can not be performed without prior authorization from the applicant.
What information do you receive when a W-2 Employment Verification is performed?
Unlike The Work Number, a W-2 Employment Verification shows employment data from the last completed tax year of the applicant. It will not show if the applicant is currently working with an organization beyond the tax filed year.
How much does a W-2 Employment Verification cost compared to The Work Number?
With SwiftCheck, we offer a W-2 Employment Verification Search that can be up to 50% less than the standard cost of The Work Number third-party data fee. This price difference can be a significant cost savings for both human resource departments and organizations.
Conclusion
Each organization has unique requirements and priorities when it comes to employment verifications. If an organization has less stringent requirements, it may be time to try a W-2 Employment Verification due to the cost benefits.
