Employee Benefits: Identity Theft Protection

Employee Benefits: Identity Theft Protection

Let’s take a quick look at identity theft protection so you can decide if it is a benefit you should include in your package.

One of the main things that set jobs apart when a potential employee is comparing offers is the benefits package. As an employer, it is easy to forget that during the interview process, the candidate is also judging your company to see if you are the best fit for them. That way there will inevitably be a discussion of salary and benefits options, no matter how much emphasis you place on the culture of the workplace. Compensation is part of the relationship, and the benefits that you can offer are part of that compensation. Most businesses focus the bulk of their benefits resources on the big three benefits – health insurance, dental insurance, and vision insurance – but the other, less well-known, benefits can play a significant role too. Let’s take a quick look at identity theft protection so you can decide if it is a benefit you should include in your package. 

What Is It? 

Identity theft protection is a form of insurance against identity theft coupled with monitoring of key identity details. Typically, the service will monitor the individual’s credit report based on the name and social security number provided, including flagging any new requests for cards or loans, changes to public records such as addresses, and possible fraud. The service will often also provide credit reports and monitor the internet and dark web for information such as email addresses. 

Does It Benefit Employees?

Identity theft Protection provides a distinct benefit to employees. Identity theft continues to be a huge problem in the world, so monitoring is a necessary expense for most people. Identity theft protection will often also include services to help the individual if identity theft does occur. This means that instead of being completely distracted and disengaged while they try to sort through all of the trouble of correcting the identity theft issue, your employee will have help from the identity theft service and be better able to still complete their work.

Do Employees Want It?

Most employees these days will agree that they need and want identity theft protection, however, in many cases, it can be an expense that they don’t have room for in their budget (despite it generally being pretty affordable). In a case where the other compensation and benefits offered are comparable, it is likely that a prospective employee could choose your company over another if you offered identity theft protection.

Partner with Malden Solutions Today

Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.

This entry was posted on Friday, August 12th, 2022 at 5:41 pm. Both comments and pings are currently closed.