The Federal Bonding Program aims to encourage employers to hire people with criminal records by providing Fidelity Bonds. The bonding program seems to be successful so far. According to a survey of “Employer Attitudes Toward Hiring Ex-Offenders” published by The Prison Journal, employers were more likely to hire justice-involved individuals who were bonded. This has already led to 41,000 job placements of “hard-to-place” individuals (The Legal Act Center).
FBP offers the possibility for justice-involved individuals who return home to restart their lives. There are 600,000 returning citizens facing barriers to employment, which often leads to recidivism. The FBP aims to help them find work faster by providing fidelity bonding for the first six months on the job.
What is the Federal Bonding Program?
The U.S. Department of Labor established the Federal Bonding Program in 1966. The purpose of the program is to provide Fidelity Bonds to employers who hire “hard-to-place” job seekers, including the following groups of people: justice-involved individuals, individuals in recovery from substance use disorders, welfare recipients, individuals with poor credit records, economically disadvantaged youth and adults who lack work histories and individuals who were dishonorably discharged from the military.
The advantages of the Federal Bonding Program
The bonds cover the first six months of employment at no cost to the employer or the job applicant. It includes protecting the employers against the money or property loss caused by the dishonest acts of the job applicant. The FBP bond serves as an incentive to hire these applicants, and it is free of charge for the hiring company. Each bond has a $5,000 limit with a $0 deductible. Read the complete list of advantages for employers on the Federal Bonding Program’s website. The fidelity bond is already in effect on the first day of employment.
How can the bonds be applied?
The Department of Labor issues the bond packages to the employer or a job placement agency. The FBP can be applied to any job in any state. It applies to all full-time or part-time employees who performed a dishonest or fraudulent act. To be eligible for the program, the worker must meet the state’s legal age, and they must be paid wages with the federal taxes automatically deducted from their pay. Moreover, the employer must make an official job offer with a specified starting date.
Read more about the Federal Bonding Program here: https://bonds4jobs.com/