Delivering Big Benefits to Small Businesses
More than 25 years ago, The Work Number® service was created to help a large multinational company solve a problem. But in recent years, Equifax has been thinking smaller—that is, leveraging technology to make The Work Number and other employer services more easily accessible to small businesses.
“[According to the U.S. Small Business Administration,] 99.9 percent of all U.S. businesses are small businesses, and we know our services can help them spend less time on HR and administrative tasks while providing a first-class experience for their employees,” said Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions, Equifax Workforce Solutions.
But how can small businesses—which often have an owner fulfilling the HR function—get connected to the services they need?
Partnering for Progress
“There’s a vast ecosystem of firms aligned to support small businesses,” said Chris Baradel, Alliances Leader, Equifax Workforce Solutions. “By connecting with that ecosystem, we’ve expanded the reach of The Work Number to include more than 2 million small businesses and tens of millions of small business employees.”
For example, PrismHR is a leading HR software provider whose professional employer organization (PEO) clients provide the HR function for more than 88,000 organizations. Thanks to an application programming interface (API) connection with The Work Number, PrismHR’s PEO clients can now deliver the benefits of The Work Number service to their small business customers. The relationship has been so successful that PrismHR recently named Equifax its 2021 Partner of the Year.
“We are now able to deliver the benefits of The Work Number to even the smallest employers, with more and more every day,” said Garret Reeves, Director of Alliances, Equifax Workforce Solutions. “That means those small business employees now have access to automated verifications to help streamline important life events, like applying for a home mortgage, an auto loan or government social service benefits.”
Digital Democratization
While partners play a vital role in connecting small businesses with vital HR services, Equifax also offers an e-commerce option for small business owners who want to reach out directly.
“E-commerce helps level the playing field between large and small businesses,” said Maria Hayes, Vice President of Digital Strategy, Equifax Workforce Solutions. “While we often think of that democratization in terms of opening up new markets, it can also help small businesses access valuable services.”
For example, with just a few clicks and a credit card, small businesses can begin using award-winning I-9 management services from Equifax. Many small business owners appreciate how those services provide a more streamlined yet rigorous process to help them follow the complex and ever-changing regulations from the U.S. Department of Homeland Security (DHS).
“Small businesses can have big needs,” added Hayes. “Whether it’s through our e-commerce portal, through our partnerships or through direct customer relationships, our team is here to help small businesses solve their workplace challenges through people-driven, data-powered solutions.”