The employment screening services market in Europe is expected to grow from US$ 1,053.28 million in 2021 to US$ 1,457.39 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. Surge in mobile workforce and job immigrants owing to globalization is bolstering the market growth in the region. Globalization has resulted in a large influx of job immigrants in highly advanced countries for acquiring better standards of living and obtaining better job opportunities. There has been an increased influx of immigrants in lower-skilled jobs as well as highly professional jobs in the developed countries such as the UK and Germany. Private households, textile, apparel, and leather manufacturing; agriculture; information technology. Computer and electronic products, and administrative and support services are the sectors that have witnesses a large number of job immigrants. Mischievous immigrants pose a risk to the security of the organization and even the country sometimes. The countries witnessing a higher number of immigrations for seeking jobs have laid down various regulations and prerequisites for the applicants. In a survey conducted by Society for Human Resource Management (SHRM), it was identified that there was a need for a comprehensive employment screening service for job immigrants on account of factors such as need for increased security post 7/11 incident, rising number of terrorist activities around the world, new legislation being rolled out by new governments, technological advancements for making background investigations quicker and efficient, and increase in tendencies among applicants to misrepresent their credentials, and intensifying competition among the applicants due to the scarcity of jobs post-recession.
In Europe, only selective countries have witnessed the rise in the number of COVID-19 cases and subsequently attracted strict, as well as prolonged, lockdown impositions or social isolation norms.Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth because of the robust healthcare systems.
According to a new study from Eurostat, the European Union’s statistical office, the unemployment rate remained relatively constant from September to December in 2020, with an annual increase of 7.5% percent in 2020 compared to that of 6.5% in 2019. According to a Eurostat report, 16 million men and women were unemployed in December 2020, which indicates a surge of 2 million over the number in the previous year. This had a negative impact on the European employment screening services market. However, with the overall decline in the COVID-19 cases across European countries, manufacturing units, hospitality sector, and retail stores are resuming their normal course of business, which has propelled the demand for employees across the region. This is bolstering the employment screening services market growth in the region. The IT & Telecom segment led the employment screening services market based on end-user industry type in 2020.Information technology is one of the fastest-growing sectors across the world.
The IT companies encounter several challenges during hiring processes.The employees of IT companies often have access to sensitive client information as well as intellectual property.
Thus, it is important for the firms to conduct a proper screening of their employees to verify their background, criminal records, qualifications, employment records, etc.Similarly, the telecom industry continues to grow at an exponential speed in several developed as well as developing countries, and data management is a key part of this industry; thus, it is of utmost priority for employers to shortlist finest and skilled employees having the necessary knowledge, integrity, and dedication required for the job role.
With the continuous growth, the demand for employment is also high in these two industries, which has results in elevated adoption of employment screening services.
The overall Europe employment screening services size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe employment screening services with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry expert 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 Europe employment screening services. CAPITA PLC; FIRST ADVANTAGE; HIRERIGHT, LLC; PINKERTON CONSULTING & INVESTIGATIONS, INC; STERLING TALENT SOLUTIONS; TRITON INC; are among a few players operating in the Europe employment screening services
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