Over 40,000 Americans become victims every day. If we were to listen to the media, we would be led to believe that this is all about Home Depot, Target & Hobby Lobby. But actually, the theft of credit card information only represents about 13% of the problem. The theft of Income Tax refunds, government benefits, medical records and the production of fake drivers licenses has ravaged the lives of countless Americans. The Federal Trade Commission has stated that it is no longer a matter of “if” you will become a victim of Identity Theft but rather a matter of when will it happen, how bad will it be and what is your plan for recovery.
So what does this mean for employers? With the average American spending over 600 hours recovering their own identity, employers are suffering unexplained and unforeseen absences coupled with a startling increase in “presenteeism”. This is when employees are at work but completely distracted by the process of conversing with government agencies who are only open Monday thru Friday, from nine to five.
Providing an employee benefit that delivers FULL Identity Restoration services is one way that employers can avoid the ravages of Identity Theft from having an impact to their employee productivity and overall profitability. Providing this voluntary benefit is a no-cost solution to a potentially high-cost problem.
This guest post was written by Jim Crump. Jim has received extensive training in the area of Identity Theft Protection and has become an expert in the field. He works with numerous companies in helping them provide protective coverage for their employees as well as advising these companies on ways to keep themselves in compliance. Click here to find out more about Jim’s company, Harvard Risk Management Corporation.
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