What’s in it for Employers?
The Federal Bonding Program provides important support for justice-involved individuals and other challenged job seekers, helping them secure employment and stay employed. Learn about this and other strategies which help protect your assets and improve employment outcomes.
Are you in the process of growing your business and looking for employees who are dedicated, committed, and enthusiastic? How do bonded employees – at no cost to you – sound? Through your state and local workforce system, you can gain access to individuals who are ready and eager to go to work, and through the Federal Bonding Program – an initiative that provides $5000 worth of fidelity bond coverage for the first six months of employment for a select group of employees – you can meet your hiring requirements and protect your assets. Here’s how it works.
Federal Bonding Program 101
The Federal Bonding Program primarily targets justice-involved individuals – people who have been previously incarcerated and are returning to the community – and other job seekers who have faced difficulties in finding employment. Bonds can be applied to any job with any employer, in any state, and covers any employee dishonesty committed on or away from the workplace. Full- or part-time employees receiving paid wages (with Federal taxes automatically deducted from pay) can be bonded, including those hired by “temp agencies.” Bonds can also be purchased to cover already employed workers who need bonding to prevent being laid off or to secure a transfer or promotion to a different job with a current employer.
By participating in the Federal Bonding Program, you are helping your business and contributing to your community’s present and future health. Contact your State Bonding Coordinator today to begin taking advantage of this easy-to-use program.