Employment Screening Services Market Scope
Significant transformation in technology over the past decades has had a profound impact on the recruitment strategies, staffing professionals more and more using social networking sites as a source of contact and then screen both active and passive candidates. In addition to social networking for the staffing process, this piece of writing provides an overview of the common and effective tools and techniques that the employers use so as to screen and then evaluate potential candidates for respective jobs. Employment screening service is one the best practices related to the progress of a completed employment application, resume management, screening, interview, pre-employment testing, eligibility criteria, verification, background investigations, and also the legal repercussion of using such a screening tool. Employment screening service offers a complete background screening to scrutinize potential candidates for different positions. These services help to identify fraudulent and forged applications in the recruitment industry. Skilled employees, enhanced regulatory obedience, and advantages related to employment screening are likely to boost the employment screening service market.
According to AMA, the Global Employment Screening Services market is expected to see growth rate of 6.6%The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Employment Screening Services market throughout the predicted period.
Insperity (United States), ADP LLC (United States), Experian PLC (Ireland), First Advantage Corporation (United States), Hire Right (United States), Capita PLC (United Kingdom), REED (United Kingdom), Paychex, Inc. (United States), CareerBuilder LLC. (United States) and Paycor, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Employment Screening Services, Inc.(United States), DataFlow Group (United Arab Emirates), Lowers Risk Group (United States), GoodHire (United States), CareerBuilder LLC (United States) and InfoMart, Inc. (United States).
Segmentation Overview
The study have segmented the market of Global Employment Screening Services market by Type (Identification of Candidate [Tracking Eligibility, Selecting Suitable Applicants, Identity Verification], Background Check [Address Validation, Criminal Record Search, Civil Records Checking], Verification of Candidate [Employment Verification, Education Verification, Professional License Verification, Reference Checks], Health and Drug Screening [Healthcare Sanction Checks, Drug Intake Related Records, Blood Tests] and Others [Reference Checks, Compensation History Checks, Motor Vehicle Records]), by Application (Government Agencies, IT Sector, Banking and Others) and Region with country level break-up.
On the basis of geography, the market of Employment Screening Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increase in New Innovative Varieties of Employment Screening Service and Increase in the Job Applicants for Jobs in Any Organization
Market Growth Drivers:
Growing Demands of Advanced and Efficient Employment Screening Service Owing to the Quality of Workforce, Advancement of the Recruitment Industry in Developing Countries and Rise in the Migration of Population from Rural to Urban Areas for Higher Standard of Living and Job Opportunities
Challenges:
Availability of New Advanced Technologies, Rising Fraudulent Activities for Acquiring Jobs and Growing Risks with Safeguarding and Disposing Collected Information
Restraints:
Lack of Adequate Information about Candidate so as to Make an Informed Decision and Strict Rules and Regulations by the Government
Opportunities:
Increase in Globalization has resulted in Large Inflow of Job and Growing Urbanization has Created Need for More and More Jobs
Market Leaders and their Expansionary Development Strategies
In January 7th, 2020 — First Advantage, a global leader in the background check and drug screening solutions, announced a new partnership with LinkedIn Talent Hub, an applicant tracking system (ATS) that allows users to source, manage, and hire talent within a single platform. By partnering with LinkedIn Talent Hub, First Advantage will streamline, expedite and augment screening and monitoring solutions for LinkedIn Talent Hub customers. By combining industry-leading technologies, they will better enable businesses to make informed hiring decisions quickly and easily.
In August 8th, 2019 – RUN Powered by ADP Integrates Features to Recruit and Retain Talent. Enhancements include the latest in ADP’s HR innovations, designed to give small business owners access to big business offerings and remain attractive to talent. RUN Powered by ADP now includes tools and enhancements to help small business owners compete for talent at the same level as large companies. From finding the right people to navigating the complexities of benefits and helping business owners comply with constantly changing employment laws, access to these important features can help small businesses thrive. In addition, these features can assist with making small businesses an attractive place to work, aid with better serving customers, and ultimately help to position the company for financial success.
Key Target Audience
Service Providers of Employment Screening Services, Recruitment Industry and Governmental Bodies
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.