employment screening services Market

The employment screening services market size was valued at US$ 5.82 billion in 2023 and is expected to reach US$ 9.88 billion by 2031; it is estimated to record a CAGR of 6.8% from 2023 to 2031. 

The employment screening services market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC, respectively. Employers across the US consider background checks as an integral part of their recruitment process. As of data published by the Professional Background Screening Association (PBSA) in July 2023, ~95% of US employers conduct employee background screening, and 77% of US employers have a documented background screening policy. Criminal background check is the common type of background check, as stated by 94% of respondents. According to HireRight's 2023 Global Benchmark Survey, the most common checks conducted by the survey respondents from North America are criminal record check (86%), social security number verification (69%), employment verification (54%), drug or alcohol testing (52%), and sex offender registry check (47%). In addition, 10% of companies in North America conduct social media checks as part of their pre-employment screening program, an increase from 6% in the 2022 survey.

The Asia Pacific employment screening services market is projected to experience highest growth rate from 2023 to 2031. APAC is a diverse and highly populated region, accounting for approximately three-fifths of the global population, with China and India being the two most populous countries. In many Asian markets, background checks are still relatively new, particularly outside of regulated industries such as financial services. The rapidly growing population of young and highly skilled professionals is projected to generate significant demand for screening services in APAC. According to the United Nations Population Fund, as of 2023, Asia Pacific was home to 60% of the world's population. With the increase in population, the eligible workforce population is significantly rising in the region. Many companies are also just beginning to expand their employment screening programs in an effort to reduce business risk. According to HireRight's 2023 Global Benchmark Survey, education checks are now the most common pre-employment checks conducted by employers throughout APAC. 87% of employers in the region were utilizing education checks in 2023, up from 76% in 2022 and 64% in 2021.

Based on organization size, the global employment screening services market has been segmented into small- and medium-sized enterprises and large enterprises. The large enterprises segment held the largest employment screening services market share. Large enterprises have higher productivity and have the most significant employment shares. Employee screening services help these employers get a clear idea of candidates irrespective of the data shared by them during the interview process. While hiring candidates, companies look into their past and select them based on their qualifications. Today, large enterprises worldwide have recognized the importance of employee screening services due to the growing instances of fake data from job applicants. As per the Society of Human Resource Management study, more than 50% of applications received include inaccuracies in past employment history and educational background. Thus, it is crucial to carry out employee screening tests to reduce such candidates from the applicant pool. Hello, Verify India, Private Limited provides strong background screening services to help large enterprises build successful relationships with their applicants based on safety and trust.

Acuity International; HireRight LLC; ADP, Inc.; Pinkerton Consulting and Investigations Inc; GoodHire; Capita Plc; KPMG Assurance and Consulting Services LLP; Verity Screening Solutions; ezyHire; Triton Inc;Revealbackground.com; First Advantage;, Zeremark; DataFlow Group;, Cisive; Accurate Background, LLC; Reed Group; AuthBridge; Paychex, Inc.; and Insperity Inc are among the key employment screening services market players that are profiled in this market study. 

The overall employment screening services market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the employment screening services market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the employment screening services market.