Free Access to Employment Screening Helps Small Businesses and the Unemployed Get Back to Work More Quickly
May 28 2020 - 8:00AM
The global COVID-19 pandemic has hit small and mid-sized businesses
hard, with 31% closed in the last three months and 62% citing
government or health authority orders as the cause.iAs states
around the country begin to lift shelter-in-place orders, small
business has an enormous sense of urgency to re-open and play their
important role in helping some of the 20.5 million newly unemployed
consumers get a paycheck.ii That’s why TransUnion (NYSE: TRU) today
announced its plans to support the hiring ecosystem by offering
small businesses and their prospective employees free access to
certain of its ShareAble for Hires employment screening tool
packages, now through the end of July 2020.
By implementing TransUnion’s web-based ShareAble for Hires small
businesses can safely and securely conduct background checks on
prospective employees within minutes vs. days. The solution is
completely transparent and provides job applicants with a copy of
reports obtained.
“Small businesses and those previously employed by them are
among the groups facing the greatest financial hardship as a result
of the COVID-19 pandemic,” said Steve Chaouki, President of U.S.
Markets at TransUnion. “TransUnion is offering ShareAble for Hires
for free to small businesses so they can get back up and running
quickly, and help people get back to work fast. That’s the power of
Information for Good.”
Small businesses and their employees facing greatest
challenges
While many Americans are facing financial challenges, small
businesses have been among the groups most negatively impacted by
the pandemic. TransUnion research found that the volume of
employment screening for small businesses with 50 or fewer
employees declined by 65% in mid-April compared to average volumes
observed in prior months during 2020. This is a reflection of small
businesses hiring at a lower rate than what was observed prior to
the COVID-19 pandemic.
As of early May, employment screening has only recovered to a
55% to 60% decline. Comparatively, TransUnion found that large
businesses experienced a 35% decline at the apex in mid-April and
have, as of early May, recovered to levels that are 20% below what
was observed earlier this year.
As small businesses face challenges, so do the people who work
for them. A recent TransUnion survey in May found that 70% of
consumers working for a small business (with under 50 employees)
said their household income was negatively impacted by
COVID-19.
Of this group, 17% said they have lost their job as a result of
the pandemic. Additionally, 69% of those persons who stated their
income was negatively impacted, said they are concerned about
paying their current bills or loans. In fact, 86% of impacted small
business employees state that they will not have money to pay their
bills within three months.
“Small businesses are resilient and once they come back, we
anticipate so will jobs,” said Jason Norton, vice president of
emerging global solutions at TransUnion. “Last year, alone, 44% of
hires in the U.S. were performed by businesses with fewer than 50
employees. Our intent is to help this major employment engine run
once again by providing this important screening tool at no
cost.”
ShareAble for Hires allows small businesses to hire
immediately
ShareAble for Hires is unique in that it is the only such online
background check tool that 100% of small businesses can use with no
waiting period or setup fees while delivering reports within
minutes. Transunion’s Basic and Plus packages, which normally cost
between $35 and $50, will be free of charge through July
2020.Information about the packages can found here. Small
businesses interested in using ShareAble for Hires will simply need
to click on the following link and conduct a three-step
process.
First, the hiring manager at the small business creates a free
account and sends a screening request to the prospective applicant.
There is no waiting or membership process. Then the applicant
receives the request to fill out their personal information,
consents to share their reports with the employer and their
identity is authenticated. Finally, reports are delivered within
minutes to both the small business and applicant.
“We are confident in all of our ShareAble for Hires offerings
and the types of screening small businesses choose to use is
completely dependent on their individual situations. What’s most
important is that small businesses are able to make timely hiring
decisions with employees they can trust to help them succeed,” said
Norton.
More information about ShareAble for Hires and this special
offer can be found here. Businesses interested in learning how to
navigate the impacts of COVID-19 can gain insights from TransUnion
webinars, blogs and more here. Additional resources for consumers
looking to protect their credit during the COVID-19 pandemic can be
found at transunion.com/covid-19.
About TransUnion (NYSE: TRU)TransUnion is a
global information and insights company that makes trust possible
in the modern economy. We do this by providing a comprehensive
picture of each person so they can be reliably and safely
represented in the marketplace. As a result, businesses and
consumers can transact with confidence and achieve great things. We
call this Information for Good®.
A leading presence in more than 30 countries across five
continents, TransUnion provides solutions that help create economic
opportunity, great experiences and personal empowerment for
hundreds of millions of people.
http://www.transunion.com/business
Contact |
Dave
BlumbergTransUnion |
E-mail |
david.blumberg@transunion.com |
Telephone |
312-972-6646 |
i State of Small Business Report, Facebook, May 2020
ii Department of Labor Report, May 8, 2020
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