The Work Number by Equifax: A New Perspective on Employment Verifications

The Work Number (TWN) by Equifax has been a powerful tool for employment and income verifications for years. By the numbers, it’s an impressive system (source: https://theworknumber.com):

• Nearly 4.2 million employers contribute employment and income data, directly or through payroll providers, to The Work Number database.
• 734 million+ records are available for credentialed verifiers to access for income and employment verifications.
• In 2024 alone, TWN fulfilled 149 million verification requests on behalf of consumers.

These numbers highlight the sheer scope and reliability of The Work Number database. However, despite its benefits, TWN has received its share of criticism in the industry—primarily due to consistent fee increases over the years.

The Industry's Frustration with TWN Fee Increases

It doesn’t seem too long ago when a $20 fee for an employment verification seemed high. Now, that would be considered a bargain compared to current costs. I’ll be honest—neither we nor our clients have been particularly thrilled about the increases. I was once guilty of trying to “fight” the system, attempting to find workarounds to avoid using TWN based on our end users’ complaints. It was challenging taking calls from frustrated clients upset about fees over which we had absolutely no control.

Changing the Mindset: Focusing on Value Instead of Cost

Eventually, I decided to shift my perspective. The truth is, The Work Number does provide extreme value to end users. The ability to get instant employment verifications is a valuable tool. It allows employers to onboard new hires much faster, eliminating the need for time-consuming manual phone calls or collecting documentation. The convenience and efficiency cannot be overstated.

What’s important to consider is the actual cost per verification. Let’s say your total fee is $100 for a verification report (just to use a round number). If that report verifies eight employers over a seven-year span, the actual cost per employer verification is only $12.50. It’s a simple breakdown, but it makes the cost feel far more reasonable.

A Different Invoicing Approach

To help ease the sticker shock for our clients, we decided to adjust how we present these fees in our invoicing. Instead of listing a single line item for $100, we distribute the total cost across the number of employers verified. For example, if eight employers were verified, the invoice would list each one at a fee of $12.50. The total invoiced amount remains the same, but presenting the charges in this way feels much more acceptable to our clients.

Sometimes, it’s all about presentation and changing the narrative from focusing solely on the cost to recognizing the value of a reliable, instant employment verification system.

A Different Perspective

Look, I understand I could be in the minority in taking this approach compared to industry colleagues and even some clients. However, as I mentioned earlier, it's just not worth the fight, especially when it's over something you really have no control over. My only advice is to consider taking our approach and see if your perspective regarding TWN changes. It may be a small mindset shift, but it can make a significant difference.

The Takeaway

The Work Number by Equifax is an incredibly powerful tool that offers substantial value to employers and credentialed verifiers. Yes, the fees are higher than they used to be, but the convenience, efficiency, and comprehensive data it provides continue to make it a critical resource in employment verifications. And by approaching the conversation from a value-based perspective, we’ve found much more acceptance from our clients.

Have you experienced the same frustrations with The Work Number? What approaches have you taken to address it? Let’s discuss!

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