First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, announced the publication of its India Employment Screening Trends Report, which is a compilation of anonymized data and analytics from the Company’s background screenings performed for its customers in the India market in Q1-22.
In Q1-22, such as banking, financial services, and insurance (BFSI), Retail, and Telecom showed substantially greater discrepancy percentages than the overall average of 9.6 percent.
Other notable findings include:
- BFSI and retail industries experienced greater differences in discrepancy percentage.
- Out of every 100 employment checks verified in the BFSI sector, 19 were discrepant in Q1-22.
- For Employment Verifications, IT, BFSI, and Consulting sectors have shown higher inclination towards alternate modes of verification.
“With the popularity of remote work, businesses are looking beyond macro trends like the need to manage company risk and assure compliance in the recruiting process and are focusing on micro-trends like continuing criminal records check and social media screening.” Amit Singh, Head of Commercial at First Advantage said.
Further, he continued, “As we continue to plan and execute our FA strategy, our vision is to enable our customers to hire smarter and onboard faster with advanced product and technology roadmaps.”