So I've worked at an insurance company for about 3 years. My job is to call businesses we've insured and gather info that determines how we charge them i.e. I inquire about their security systems, electrical systems, customer volume, etc.
One thing I have had to do is file the background checks on employees. Background checks don't just get stored by HR, they get sent to insurance companies too. I've always been morally objected to our company's policy of dropping coverage to businesses that employ felons.
Now, our company has decided that they'll raise rates and drop some coverage to clients who don't do enough of a social media background check on employees. They are actively working to push employers into getting social media passwords of workers.
They said Reddit and Facebook should take first priority. I wonder why.
The insurance company deals with everything from banks, to restaurants, to fast food, to other insurance companies, to schools, to tech firms, to warehouses.
The only issue is, workers who deny having a Facebook account or Reddit account. But of course, what employers are doing is getting workers to sign “social media policy” forms where they sign on paper confirming or denying having those accounts. And if you lie about a reddit account you're fired.
Social media policy contracts are a good liability reducer for businesses. They not only demand the worker present himself wholesome online. They also state that the company isn't acquiring passwords to snoop out your sexuality, religion, or politics…so if you get fired, you can't claim they found out about your sexuality through social media and fired you for being gay.
At this moment they're only pushing this on some companies. My guess is they're going with companies that provide healthcare first, and once they set an example then we'll demand social media checks of workers at gas stations and restaurants.
And their reasons for social media background checks on workers? To ensure insider knowledge isn't being exchanged.