HireRight Launches Virtual I-9 Solution

Rhea-AI Summary

HireRight Holdings Corporation (NYSE: HRT) launches Virtual I-9 Service to facilitate remote verification of candidates' identity and employment authorization documents via live video calls. The service aims to streamline the onboarding process for employers and employees, enabling efficient hiring due diligence.

Insights

Market Research Analyst

The introduction of HireRight's Virtual I-9 Service represents a strategic move in the background screening and workforce management industry, particularly in the context of increasing remote work trends. This service addresses a significant pain point for employers by simplifying the onboarding process for remote hires, potentially reducing the time to hire and improving the overall efficiency of workforce management.

By leveraging the DHS's Alternative Procedure, HireRight is tapping into a growing need for remote verification processes. This could be a competitive advantage, as the ability to onboard employees quickly and remotely can be a deciding factor for companies looking to hire in a tight labor market. The service's alignment with E-Verify also ensures compliance with U.S. employment authorization requirements, which is critical for employers to avoid legal penalties.

From a market perspective, this innovation could attract new customers and retain existing ones seeking to streamline their HR processes. The ease of integration with E-Verify and the partnership with GryphonHR suggest a well-thought-out product that could see high adoption rates, especially among companies with a large remote workforce or those in industries with high employee turnover.

Legal Expert

The legal implications of HireRight's Virtual I-9 Service are notable. The service operates under the DHS's Alternative Procedure for remote verification, which is a critical detail for employers to consider. Ensuring compliance with Form I-9 requirements is essential for employers to avoid sanctions and penalties related to unauthorized employment.

However, the use of live video calls for document verification may raise questions about the robustness of the process compared to in-person verification. Employers must ensure that the service meets all legal standards for document examination and that the virtual process does not lead to an increase in fraudulent document acceptance. The strategic partnership with GryphonHR could imply an additional layer of legal expertise and technology to mitigate these risks.

For employers participating in E-Verify, this service offers a streamlined solution that is likely to be welcomed, provided it remains in compliance with evolving immigration and employment laws. Employers will need to stay informed about any changes in legislation or DHS policies that could affect the use of virtual verification services like this one.

Financial Analyst

From a financial perspective, the launch of HireRight's Virtual I-9 Service could have implications for the company's revenue growth and market share. By providing a solution that reduces the friction associated with onboarding remote employees, HireRight is positioning itself to capitalize on the expanding remote workforce segment.

The cost savings for employers in terms of reduced delays and streamlined onboarding processes could translate into a strong value proposition for HireRight's service. This, in turn, could lead to increased customer acquisition and upsell opportunities among existing clients. The long-term financial impact will depend on the service's adoption rate and the scalability of the technology platform, particularly in how it handles a potentially large volume of verifications without sacrificing accuracy or compliance.

Investors should monitor the uptake of HireRight's Virtual I-9 Service as an indicator of the company's innovative capacity and its ability to respond to market demands. The financial performance of HireRight following this launch will be a key metric in assessing the strategic success of the service.

HireRight’s Virtual I-9 Service enables employers to remotely verify their candidates’ identity and employment authorization documents via live video call

NASHVILLE, Tenn.--(BUSINESS WIRE)-- HireRight Holdings Corporation (NYSE: HRT), a leading provider of global background screening services and workforce management solutions, today announced the launch of its new Virtual I-9 solution. With HireRight’s Virtual I-9 Service, candidates no longer have to present their documentation in-person for verification by their prospective employer or their authorized representative, which can be inconvenient, time-consuming, and could ultimately delay a candidate’s start date.

HireRight’s Virtual I-9 Service, powered by HireRight’s strategic partnership with GryphonHR, is designed to support employers who wish to use the U.S. Department of Homeland Security's (DHS) Alternative Procedure, which allows eligible employers to complete Form I-9 Section 2 verifications and Supplement B reverifications via a video call with the employee.

HireRight’s Virtual I-9 Service enables employers to complete the U.S. employment authorization verification process remotely, using a large network of U.S.-based authorized representatives to verify candidate documentation via live video call.

“Remote working continues to play an important role for many businesses, often enabling them to search farther and wider for the best candidates,” said Jim Daxner, Chief Product Officer at HireRight. “But onboarding new remote hires, including verifying their authorization to work in the U.S., is not always a quick and easy process for the new hires or their employers. HireRight’s Virtual I-9 Service can help support an efficient onboarding process, so that businesses can quickly conduct their hiring due diligence and get new employees starting their roles sooner.”

HireRight’s Virtual I-9 Service is available to new and existing HireRight customers who participate in E-Verify. The service provides employers and their candidates a quick and easy alternative to in-person document verification that can be completed no matter where they are located. Additionally, HireRight offers an I-9 Remote service, which supports off-site, in-person Form I-9 Section 2 or Supplement B completion.

To find out more about HireRight’s Virtual I-9 Service, visit https://www.HireRight.com.

About HireRight

HireRight is a leading global provider of technology-driven workforce risk management and compliance solutions. We provide comprehensive background screening, verification, identification, monitoring, and drug and health screening services for approximately 37,000 customers across the globe. We offer our services via a unified global software and data platform that tightly integrates into our customers’ human capital management systems enabling highly effective and efficient workflows for workforce hiring, onboarding, and monitoring. In 2022, we screened over 24 million job applicants, employees and contractors for our customers and processed over 107 million screens. For more information, visit www.HireRight.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240226088791/en/

Investors: Investor.Relations@HireRight.com

Media: Tom Sayer Media.Relations@HireRight.com

Source: HireRight Holdings Corporation

FAQ

What is HireRight's ticker symbol?

HireRight's ticker symbol is HRT.

What is HireRight's new service called?

HireRight's new service is called Virtual I-9 Service.

How does HireRight's Virtual I-9 Service help employers?

HireRight's Virtual I-9 Service enables employers to remotely verify candidates' identity and employment authorization documents via live video calls, streamlining the onboarding process.

Who is HireRight's Chief Product Officer?

Jim Daxner is the Chief Product Officer at HireRight.

What is the purpose of HireRight's Virtual I-9 Service?

The purpose of HireRight's Virtual I-9 Service is to support employers in completing U.S. employment authorization verification processes remotely, using a network of authorized representatives.

What additional service does HireRight offer?

HireRight also offers an I-9 Remote service, supporting off-site, in-person completion of Form I-9 Section 2 or Supplement B.

Who is HireRight's strategic partner for the Virtual I-9 Service?

HireRight's strategic partner for the Virtual I-9 Service is GryphonHR.

What is the benefit of HireRight's Virtual I-9 Service for candidates?

Candidates no longer have to present their documentation in-person for verification, making the process more convenient and efficient.