WHY IS FIDELITY BONDING NEEDED FOR JOB PLACEMENT?
• Employers view ex-offenders and other at-risk job applicants as potentially untrustworthy workers, thereby, denying them job-hire • insurance companies will not cover risky job applicants under commercial Fidelity Bonds purchased by employers to protect themselves against employee dishonesty • Anyone who has ever “committed a fraudulent or dishonest act” is deemed NOT BONDABLE by insurance companies, a situation leading to routine denial of employment opportunities for such individuals • Being NOT BONDABLE is a significant barrier to employment possessed by the hardest-to-place job applicants; this barrier can be eliminated only by the Federal Bonding Program • Job bonding enables employer to “obtain worker skills without taking risk” • Persons who are NOT BONDABLE can ultimately become commercially BONDABLE for life by demonstrating job honesty during the 6 months of bond coverage under the Federal Bonding Program (such commercial bonding will be made available by the TRAVELERS Insu
