New Talent Report™ Hourly Supports Applicants by Highlighting Their Experience and Education, Helping Employers to Improve Retention and Reduce Turnover
ATLANTA, June 20, 2023 /PRNewswire/ -- Equifax® (NYSE: EFX) has introduced the industry's first pre-employment verification solution specifically tailored to employers recruiting, retaining and engaging an hourly workforce. In a competitive hourly talent market, the new Talent Report™ Hourly solution supports better-informed hiring decisions by providing a full view of the applicant's work experience, including their employment history and student enrollment status. This can help support employers as they seek to accommodate employee class schedules and recognize relevant work experience, which can lead to lower turnover and improved retention.
According to recent Equifax data, today's hourly workforce is projected to account for more than 79 percent of annual new hires. While these employees play a vital role in business operations, they may be applying for multiple jobs at once and therefore only have a few minutes to spend on an application. Additionally, less than 30 percent of companies provide feedback to hourly workers during the recruitment process. However, savvy employers recognize that an intentional dialogue with hourly candidates – supported by relevant data – can help them build a foundation for greater success.
"At Equifax, we continually engage with our customers, including some of the largest employers in the retail and restaurant space, who share insights about their greatest opportunities for improving hourly employee retention. From these conversations, we've found two key areas that Talent Report Hourly can help address," said Jennifer Hunter, Product Leader for Onboarding & Talent Solutions at Equifax Workforce Solutions. "The first is scheduling. If the manager knows a candidate is enrolled in college, they can design a work schedule to better fit everyone's needs. Not only can this help support appropriate staffing, but it can potentially help the employee to qualify for tuition assistance. The second relates to work experience. If the employer can see a fuller view of the applicant's current and recent jobs, it may be more inclined to not only hire the applicant, but to also make a better offer and possibly guide the new hire toward faster promotion based on relevant work experience."
Talent Report Hourly is available only to credentialed employers and background screeners. The candidate agrees to having the report provided as part of the application and pre-employment screening process.
Talent Report Hourly provides a candidate's previous three years of employment history sourced from The Work Number®, the industry-leading centralized source of income and employment information in the United States. It also includes a candidate's postsecondary enrollment status and institution name for the previous six months, sourced from the National Student Clearinghouse, which covers 97 percent of all enrollments at Title IV, degree-granting institutions in the United States. These unique insights are powered by the TotalVerify™ data hub from Equifax, a more accurate, single source for delivering multi-data solutions.
Talent Report Hourly is available now. For more information on other pre-employment verification services available from Equifax, click here.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION
Daniel Jenkins for Equifax Workforce Solutions
mediainquiries@equifax.com
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SOURCE Equifax Inc.
