Equifax, Inc. · NYSE:EFX
Equifax — WFS Webinar 2024 Offboarding Palooza
26 slides from Equifax's conference presentation, October 2024
Slide 1: Hot Topics: Navigating Some of the Latest Regulatory Requirements
Hot Topics: Navigating Some of the Latest Regulatory Requirements
Slide 2: Thanks for joining our webinar
2 Thanks for joining our webinar Welcome! Questions? Recording Thank you for joining our Please enter your questions This webinar is being recorded. webinar. Stay tuned for in the chat box on your You will receive an email with a more from Equifax screen at any point during link to view all the reco
Slide 3: To Keep Our Lawyers Happy
3 To Keep Our Lawyers Happy The information provided herein is intended as general guidance and is not intended to convey specific tax or legal advice. For a legal opinion, please consult your lawyer. This presentation is intended for the education and benefit of our customers and potential customers.
Slide 4: Today's Panel
4 Today’s Panel Sarah Beth Todd Tim Kolar Kate Devine-Elkins Jason Pachucki Moderator State Administrator for Director, Product Strategy - Solutions Engineer, UCM VP, Sales Enablement Investigations Compliance Solutions Equifax Workforce Solutions Equifax Workforce Solutions Michigan Unemployment Eq
Slide 5: Unemployment Insurance Program Integrity
5 Unemployment Insurance Program Integrity
Slide 6: Challenges Employers are Facing Today
6 Challenges Employers are Facing Today
Slide 7: What the States Are Facing Today
7 What the States Are Facing Today
Slide 8: Wage Audits
8 Wage Audits Wage audits are a critical tool for states looking to help reduce improper payments and combat fraud. Yet for many employers, responding to wage audit requests can be challenging - which can leave employers at-risk for various penalties and risks associated with incomplete or untimely
Slide 9: Challenges With Wage Audits
9 Challenges With Wage Audits Too much Inconsistent Truncated Untimely Extra information Formatting SSN Responses Work Completing wage audits adds a second level of review to help you identify potential benefit charge fraud and imposter claim filings.
Slide 10: New Hire Reporting
10 New Hire Reporting New hire reporting presents several challenges for employers, despite its critical importance as mandated by the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) of 1996. (hhs.gov)
Slide 11: Challenges With New Hire Reporting
11 Challenges With New Hire Reporting Timely and Accurate Privacy Fines Can Submission Concerns Add Up of Data One of the primary challenges is Privacy and data security Failure to comply can result in ensuring timely and accurate concerns can add another layer of significant penalties, including sub
Slide 12: How Employers Can Help Bolster the Integrity of the UI Program
12 How Employers Can Help Bolster the Integrity of the UI Program
Slide 13: Proactive Communication & Data Sharing
13 Proactive Communication & Data 1 Sharing
Slide 14: Timely Response to Inquiries
14 Timely Response to Inquiries 2
Slide 15: Employee Education & Awareness
15 Employee Education & Awareness 3
Slide 16: Internal Controls & Fraud Prevention
16 Internal Controls & Fraud Prevention 4
Slide 17: Technology Adoption & Modernization
17 Technology Adoption & Modernization 5
Slide 18: State Separation Notices
State Separation Notices Workforce Equirax” Solutions P ed Pa
Slide 19: State Separation Forms
19 State Separation Forms Many states have required separation notices that must be sent to termed employees and employers have their own offboarding forms and notices that need to be delivered as well. When not managed properly, it can result in fines to the employer. Missing a required form can be r
Slide 20: Economic uncertainty continues in 2024
20 Economic uncertainty continues in 2024 Recession fears still prevalent from interest rate hikes and continued inflation has some employers restructuring their workforce.¹ Are you prepared? Many considerations for employers if reducing their workforce: • Adverse impact of protected classes • WARN A
Slide 21: Offboarding Forms Can Impact Employee Experience
21 Offboarding Forms Can Impact Employee Experience Offboarded Employee Cross-boarded Employee Remaining Employees (Retiring, layoffs, termination, employee decision) …and can affect they way the employee brand is perceived.
Slide 22: Your Brand is Important
22 Your Brand is Important WHY? A strong employer Employers are A recent survey brand can drastically experiencing brand shows a decline in increase retention, damage caused by remaining backlash from vocal employee morale² reducing employee ex-employees² turnover by nearly 28%¹ Approximately ½ of c
Slide 23: Government Agencies May Talk To Each Other
23 Government Agencies May Talk To Each Other U.S. Citizenship and Department of Immigration Services Justice Federal Bureau of U.S. Equal Employment Investigation Opportunity Commission Internal Revenue Department of Service Labor
Slide 24: Enabling Improvement with Training
24 Enabling Improvement with Training Our goal is to help you optimize your Visit the program and Connections maximize your Training Website investment by here: helping ensure you have everything you https://gateway.on24. need to follow proper com/wcc/eh/3589033/ procedures and connections streamlin
Slide 25: Q & A Session
EQUIFAX Q & A Session Workforce Solutions
Slide 26: Next Steps
26 Next Steps 1 SURVEY 2 CONTACT 3 CONNECT Complete the survey Want to talk to someone about Subscribe to Let’s Talk HR for updates: through the webinar your offboarding processes? Click console on the “Want to Get In Touch” button on your webinar console or contact us at: workforce.equifax.com/conta