Businesses operating in the U.S. are mandated by the law to file Form I-9 for every individual they hire. On the form, an employee ought to provide the employer with official personal identification and employment authorization documents. Consequently, the employer must review the authenticity of the materials and record the information on Form I-9. Highlighted below are the benefits of Form I-9 compliance to businesses.
1. To Avoid Penalties
According to the ICE, companies that fail to comply with Form I-9 regulations are subject to penalties. Before being penalized, the ICE will notify the business and give it ten working days to comply with the rules. Employers also risk being fined up to $1,100 per Form 1-9 violation during an audit. They may be criminally persecuted if they knowingly hired incompetent people.
2. To Avoid Hiring Fraudsters
Some job applicants in the modern employment sector usually provide false information in their resumes. Some of these applicants pose as fraudsters waiting to cause harm to a company that hires them. Luckily, employers can use i9 employment verification to distinguish between applicants who are eligible for work and those that are not. Having fraudsters working for a particular enterprise may lead to work-related malpractices such as financial fraud.
3. To Build a Positive Reputation
As a business owner, most of the success of your company is attributed to its public image. When your enterprise is listed in a lawsuit because of violating Form I-9 regulations, its public image will be ruined. Compliance with these rules enables your business establishment to build customer trust from its positive image.
4. Higher Productivity in a Company
A positive work environment can only be created in companies that comply with i9 employment verification regulations. Your employees will be more comfortable when working with newly-hired individuals whose personal and career backgrounds were vetted. Besides the Form I-9 regulations, companies should also comply with employee protection, wages, and safety regulations for productivity.
5. Cost Savings
An enterprise is likely to lose revenue due to its ruined reputation when it fails to complete Form I-9. The company will also incur costs on paying fines related to the violations and pursuing a lawsuit regarding the violations in court. Money may be lost due to a financial fraud incident caused by an employee who didn't undergo the i9 employment verification process. To avoid these unwanted expenses, business owners must be compliant with Form I-9 regulations.
Business owners should be on a mission to comply with work-related regulations. They should also use Form I-9 as a tool for conducting background checks on newly-hired employees. The productivity, reputation, and profitability of any business depend on its compliance with laws. It also depends on the efforts of the managers in ensuring that a company is compliant.