Definition of Employment-Screening-Services Market 

Employment screening services refer to a process of examining a candidate to protect a business from a fraudulent employee. It looks at the candidate's behavior, criminal records, background verifications, credentials, and social media. Additionally, it also includes drug testing, which benefits the company by reducing workplace violence and preventing incorrect hiring, among other things. It is widely used in banking and finance, as well as information technology and other industries. Employee screening contributes to the safety and security of the company by allowing businesses to authenticate individuals before hiring them.

Global Employment-Screening-Services Market: Key Insights

Global Employment-Screening-Services Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global employment-screening-services market is estimated to garner a revenue of ~USD 13.0 Billion by the end of 2035 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 6.0 Billion in the year 2022. The growth of the market can be attributed to the rise in the number of business organizations worldwide and the surge in need amongst them to expand their existing people strength, thereby raising the need for employment screening services. In addition, the rising need amongst candidates for jobs and the need amongst employers to filter the candidates based on their needs is also expected to add to the market growth in the coming years. According to the statistics by the United States Bureau of Labor Statistics (BLS), in November 2022, the total nonfarm payroll employment increased by 263000, while the monthly job growth averaged 392000 in the year 2022.

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Employment screening helps in hiring reliable, safe, and honest employees in an organization by detecting misrepresented and counterfeit information related to employees. Moreover, companies that provide employment screening services to their clients in the form of pre-employment screening, employee onboarding, compliance, and post-hire background screening often use these screening tools to offer the services.  

Global Employment-Screening-Services Market: Growth Drivers and Challenges

Growth Drivers

• The surge in Prevalence of Workplace Violence –Employment screening services provides the background of the people that are applying for a job so that there can be a reduction in workplace violence. Hence, it is expected to boost the growth of the global employment-screening services market. The number of incidents of violence for adults of working age at work in employment for the year 2019/2020 was nearly 688,000 in the United Kingdom.

• Increase in Data Theft Cases– There has been an increase in data theft cases in organizations worldwide owing to which they have to bear a huge cost for the breach. Therefore, it is projected to drive the growth of the global employment-screening services market. As per the Annual Data Breach Report by Identity Theft Resource Center, the data compromise breach has grown in the United States by 68 percent in 2021 as compared to 2020.

• Increase in Candidate Applications for Same Jobs- The number of people applying for the same job in the same company has increased. Furthermore, the company must adequately evaluate the candidate to hire the best candidate from the pool of applicants. As a result, the global employment screening services market is expected to expand rapidly.

• Surging Criminal Activities– Growing workforce compliance for organizations related to criminal activities is anticipated to increase the growth of the global employment-screening services market. As per the data provided by Statistics Canada, the number of cybercrime incidents has increased to 70,288 in 2021 from 27,829 in 2017

Challenges

• Delay in the Employee Evaluation Process

There is a high probability that the employee evaluation process does not result in hiring the correct employee for the organization owing to many factors such as incorrect background verification, employee behavior, and others. Therefore, it can restrain the growth of the global employee-screening services market.

• Future Risk of Advanced Employee Screening Technology

• Irregular Production of Employment Screening Technology

The global employment-screening-services market is segmented and analyzed for demand and supply by services into drug & healthcare screening, education & employment verification, criminal background checks, and others. Out of these, the criminal background checks segment is anticipated to hold the largest share by the end of 2035 owing to the rise in the number of violent crime incidents and offenses. Furthermore, employees play a major role in maintaining the decorum of the organization by following all rules and regulations without harming anyone. As per the Federal Bureau of Investigation, there were approximately 538,203 violent crime incidents and 640, 836 offenses reported in 2020 in the United States through 9,991 law enforcement agencies.

Global Employment-Screening-Services Market Regional Synopsis

The Asia Pacific region market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. This can be attributed to the rising population percentages, and increasing criminal activity owing to unemployment. Additionally, a surge in the total population is projected to increase the number of employees applying for jobs. Hence, it is projected to rise the growth of the global employee-screening-services market in the region. As per the World Bank, the population of India has increased to 1.39 Billion in 2021 from 1.15 Billion in 2005.

Market Segmentation

Our in-depth analysis of the global employment-screening-services market includes the following segments:

Key Companies Dominating the Global Employment-Screening-Services Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global employment-screening-services market that are included in our report are HireRight, LLC., ADP, Inc., Paychex Inc., Capita plc., Experian Information Solutions, Inc., First Advantage, Sentinel Background Checks, Reed Screening, Insperity, Inc., Employment Screening Services, Inc., and others.

Global Employment Screening-Services Market: Latest Developments

• July 2021: HireRight, LLC., announced an alliance with SmartRecruiters to provide background screening services with the new integration technology

• February 2022: ADP, Inc., announces the integration of multi-country payroll functionality into ADP Workforce Now. The purpose is to manage payrolls of different countries through an integrated system of record.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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