Are you missing the 21st century's most important voluntary benefit?
Employer-sponsored health insurance protects employees from suffering not only injuries and illnesses but also the high cost of care. A 401(k) plan secures a safe, comfortable retirement for all employee participants.
But is your business doing enough to shield your workers from identity theft? Have you considered the benefits of offering fraud detection through identity theft protection as a voluntary benefit through Identity Guard?
Fraud affects everybody
Now think about the demographics in your office. What other threat that you know of so evenly impacts such a broad group of people? Carefully selected fraud detection offerings bring together and engage your entire workforce like no other benefit can.
Impacted by distraction
When your identity has been compromised, it's difficult to think about anything else, no matter who you are. As an employer, you know the toll personal crises can take on productivity. Emails go unanswered. Projects run over deadlines. Customers notice something's amiss.
One survey found 1 out of every 10 employees admitted to faking sick to take care of personal errands. How many times has fraud and its financial repercussions actually made its victims too stressed and anxious to stomach an eight-hour workday?
Thankfully, when employees receive identity protection from their employers, they can help protect their sensitive information while devoting their full attention to their jobs.
Attract next-gen talent
Millennials know a good thing when they see it. These workforce influencers have intelligently challenged the norm and sought out hiring companies based not solely on salary but diversity of benefits as well. Studies show millennials are far more interested in how they can piece together unique coverage with voluntary benefits packages than baby boomers.
Although your company probably checks boxes for health insurance and retirement plans, what do you provide perks-conscious candidates who are looking for something valuable to them? Fraud detection can fill that gap and draw today's top talent to your doorstep.
Employee identity theft hurts employers, too
Depending on what an identity thief takes, the victim's employer could be just as vulnerable.
Jobs with high turnover rates, for example, put employers and their employees at risk. 89 percent of employees continue to have access to at least one application after leaving a given company. Moreover, 68 percent of information workers store work-related information through a personally managed file-sharing platform. What are the chances an unwitting employee accidentally exposes that data along with their own identity?
We all know recovering from identity theft is expensive. U.S. consumers had more than $15 billion stolen in 2015! But when businesses pay for fraud, they really pay for it – to the tune of three times the initial value of the information stolen.
Advanced fraud detection services can relay crucial information about compromised data promptly, giving employees and employers time to act and help protect themselves.