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 This is a U.S. Department of Labor program.  Offers a proven and effective tool for workforce development professionals to help both employers and.

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Presentation on theme: " This is a U.S. Department of Labor program.  Offers a proven and effective tool for workforce development professionals to help both employers and."— Presentation transcript:

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2  This is a U.S. Department of Labor program.  Offers a proven and effective tool for workforce development professionals to help both employers and at-risk job applicants at no cost. o Note: The program has bonded over 42,000 at-risk job applicants in jobs with a 99 percent success rate. What is the Federal Bonding Program?

3  Many employers carry insurance to protect themselves against employee theft or dishonesty.  Employees who handle money, valuable tools or goods are covered. This insurance is called fidelity bonding.  When such commercial insurance is denied because of an individual’s background, the employer often denies a job to that person.

4  The Federal Bonding Program provides individual fidelity bonds to employers for job applicants who are deemed un-bondable by commercial carriers because of a: o Record of arrest, conviction, or imprisonment o History of alcohol or drug abuse o Poor credit history o Lack of employment history o Dishonorable discharge

5  Bonding helps jobseekers experiencing difficulty in securing opportunities to show they can be productive workers.  At-risk job applicants increase their options for and chances of employment when they can offer the bonds to employers.  Bonding eliminates one of the main barriers to employment, enabling jobseekers to make a new start and level the playing field.

6  As an employer incentive, bonding helps eliminate financial risk to employers. It insures the employer for any type of stealing by theft, forgery, larceny or embezzlement.  An employer can focus on the worker’s skills, abilities and knowledge. The employer fills out no forms and signs no documents.  What’s more, the bond is effective immediately— on the first day of employment—at no cost to the employer or job applicant.

7  Bonding is a unique and innovative tool to market applicants to employers.  Bonding helps improve a Center’s efficiency since fewer referrals are needed to secure job placements, and it increases a Center’s credibility with employers.

8  Fidelity bonding may be provided for any individual who: o Has a firm job offer, and o Is qualified for the job. and if the job… o Offers steady work with reasonable expectation of permanence, and o Is not self-employment.

9  Either the job applicant or the prospective employer (on behalf of the applicant) may apply for fidelity bonding insurance at any Workforce Center.  The on-line application process, completed by Workforce staff, is simple and quick.

10 Fidelity Bond Certification Form Available on Inside OESC

11  Bonding coverage becomes effective immediately when: o The OESC Bonding Coordinator has certified the bond. o The applicant has begun work.

12  Coverage usually begins on the first day of work for the new employee. The bond is mailed directly to the employer by the McLaughlin Company.  Bonds are issued for six months. The employer may then contact the McLaughlin Company directly to purchase additional bond coverage.  A total of $5,000 bond coverage is usually issued, with no deductible amount of liability for the employer.

13  The Bond does not cover liability due to poor workmanship, job injuries or work accidents.  It is not a bail bond or court bond for the legal system.  It is not a contract bond, performance bond or license bond sometimes needed to be self-employed.

14  Federal Bonding is a job placement tool.  Any at-risk job applicant is eligible for bonding services, thereby enabling jobseekers to level the playing field.  As an employer incentive, bonding helps eliminate financial risk to employers.  Bonds are available at no cost to employers or jobseekers.

15  Bonding is a unique and innovative tool to market applicants to employers.  Completing the one-page certification form takes just a few minutes.  The applicant is covered on the first day of steady employment.  The applicant is covered for the first six months of employment, but the employer may then purchase additional coverage directly from the McLaughlin Company.

16  Contact: David Slimp, or Debra Roseburr, Oklahoma Employment Security Commission Federal Bonding Program Post Office Box Oklahoma City, Oklahoma


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