Demand on Rise with Increase in Mobile Workers, and Job Immigrants
Recruiting and retaining employees in today’s fast-paced world is challenging. Companies are increasingly looking to implement scientific workforce solutions through best-in-class assessment systems for hiring, growth, and retention to be more competitive. Getting the right people for the right roles is hugely important. Employees can be the greatest asset or the biggest risk of a business. Employee screening is thus the cornerstone to any organisation’s success. It can help companies increase the workforce integrity, and trustworthiness. Pre-employment screening services will help companies hire the best lot of employees. This is expected to drive the growth of employment screening services market worldwide. Screening allows organisations to fulfil your legal and regulatory obligations - meet local, state, and/or federal regulations for certain industries or jobs, as well as contractual obligations related to screening, which keeps the demand afloat.
Employment screening services are adopted to uncover counterfeit and false information early on, lowering future risks, and recruiting expenses. Employment screening services can dramatically reduce workplace hazards such as theft, abuse, criminal behaviour, and workplace violence. The higher regulatory compliance, and growing emphasis on enhanced labour quality are some of the key factors driving the growth of the employment screening services market. Globalisation has led to a massive influx of job immigrants seeking higher living standards, and better employment prospects, primarily from the world's most advanced countries. Computer and other electronic products, as well as administrative and support services, are increasing job immigrants. Mischievous immigrants can endanger the organisation's and possibly the country's security. According to the International Labor Organization, there were an estimated 169 million migratory workers worldwide in 2019 (ILO, 2021). 113.9 million (67.4%) live in high-income countries, whereas 33 million (19.5%) live in upper-middle-income countries. The remaining are in lower-middle-income (9.5%) and low-income (3.6%) countries. The growing number of job immigrants will boost the growth of employment screening services market.
Another strong factor boosting adoption is the growing mobile workforce. The increasing mobility of the workforce due to globalisation and the rising need to reduce fraudulent activities by applicants are among the factors boosting the need for demand ground check screening by various firms, propelling the employment screening services market forward. In 2021, the global population of mobile workforce reached 1.87 billion workers. With the expanding mobile workforce, employment screening services market will also rise rapidly.
Demand for Criminal Background Checks Dominant with Exponential Rise in Fraudulent Events
Criminal background checks will dominate the employment screening services market throughout the projected period and are likely to do so in the future. This is due to various advantages, including detecting potentially harmful hiring, protecting an organisation's reputation, and safeguarding organisational assets, generating a profitable market opportunity. The right of employers to enquire about criminal records and convictions is propelling the segment's expansion. The increased number of job immigrants and mobile workforce due to globalisation, as well as the growing need to limit fraudulent activity by candidates, are among the causes driving various companies' demand for background check screening.
North America Retains Lead in Global Market with the Maximum Employment Opportunity, and Immigrants
North America will lead the worldwide employment screening services market throughout the projected period, and this trend will likely continue. North America is recognised as one of the most critical IT sectors, which has increased the number of immigrants looking for work, supporting the employment screening services market in the region. The growing number of job applicants fuels the demand for time-efficient selection processes, boosting the industry's growth. Higher living standards, the availability of more excellent career opportunities, and access to contemporary amenities and services are the key drivers driving the global population to move to North America.
Background checks are an essential element of the recruitment process for employers throughout the United States. According to a recent survey, roughly 70% of US-based organisations do background checks, and approximately 80% of these companies also investigate the criminal records of their potential candidates. According to the Job Opportunities and Labor Turnover Survey (JOLTS), the number of job openings in 2021 increased to 7.4 million in March from 7.1 million in February. Thus, North America's employment screening services market began to experience significant growth as the region's economy began to recover, resulting in the acceleration of recruiting procedures across industries.
Asia Pacific is expected to grow at the fastest CAGR during the projected period as this region has long struggled with an illicit drug problem, which remains a burden in the Asia Pacific. With its vast population base, growing awareness of drug abuse testing, and rising prevalence of drug usage, this region presents a profitable opportunity for organisations in the employment screening services market. The area has attracted a considerable number of enterprises looking to expand their existing operations. As the Asia Pacific's economic importance grows, so does the demand for employment screening services. The region's fast-growing population of young and highly qualified professionals is expected to generate significant demand for screening services. The region's job screening service market has increased in recent years because the level of difference has increased significantly. The primary areas of discrepancy (in decreasing order) include former employment, educational qualifications, and criminal convictions.
Global Employment Screening Services Market: Competitive Landscape
Participants in the market are releasing new products and developing alliances, collaborations, and partnership agreements. In June 2022, Accurate Background, the largest privately held provider of compliant background checks, drug and health screening, and monitoring solutions, announced the addition of AccurateConfirm to their suite of verification tools, which provides a more efficient and cost-effective alternative to confirming employment history. AccurateConfirm delivers a report that includes the employer's name and confirmation of employment within the candidate's stated time limit. In February 2021, Insperity, Inc., a leading provider of human resources and business performance solutions to America's most influential organisations, announced today that it will collaborate with Salesforce, a CRM industry leader, to alter its business digitally.
A few of the prominent players in global employment screening services market include Accurate Background, LLC, AuthBridge Research Services Private Limited, A-Check America, Inc., DataFlow Group, Capita PLC, First Advantage, GoodHire, HireRight, LLC, Sterling Talent Solutions, Pinkerton Consulting & Investigations, Inc., Verity Screening Solutions, Triton Inc., and Insperity, Inc.
Global Employment Screening Services Market is Diversified as Below:
By Background Screening
By End-use Industry
By Organization Size
Key elements included in the study: Global Employment Screening Services Market
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