Europe Employment Screening Services Market

The Europe employment screening services market was valued at US$ 1,261.52 million in 2022 and is expected to reach US$ 3,077.16 million by 2030; it is estimated to record a CAGR of 11.8% from 2022 to 2030.

Need to Mitigate Risks Associated with Fraudulent Activities of Applicants Drive Europe Employment Screening Services Market

The cost of hiring an employee is determined by their salaries, recruiting expenses, incentives, administrative expenses, etc., which, in combination, indicate the true value of an employee that has been recruited. The Department for Education in the UK launched a service to mitigate higher education fraud in 2021. The service was commissioned by the Department for Education to address problems concerning fraud institutions proactively. Fraudulent declarations in job applications put employers at risk if they select such applicants. For example, an employee with a criminal background can be a threat to their colleagues and may jeopardize the company's security. If they harm their coworkers, the victims can claim that the employee in question had the propensity to cause this type of harm, which the employer should have discovered before hiring. The claim, if proven in the victim's favor, the employer becomes liable for negligent hiring damages, which can result in steep costs to the company. According to data from the SHRM, the average settlement cost of negligent hiring is ~US$ 1 million for organizations worldwide. Moreover, workplace insecurity is cited as one of the primary reasons for high job turnover in organizations, which may lead to a further cost of recruitment for the employer.

False claims in job applications regarding historical job performance or educational qualification expose an organization to potential monetary loss and reputation damage. A bad hire may result in losses incurred by restarting the process of a candidate search. As a result, organizations look for solutions to mitigate the risks associated with fraudulent job applications, which helps them stay compliant with regulatory measures. Background checks before hiring enable organizations to uncover false information on resumes.

Europe Employment Screening Services Market Overview

Employers in the UK emphasize on running certain checks on job applicants to ensure that new candidates they select are allowed to work in the UK. The country has been experiencing a downfall in job applications after Brexit, which has restrained the employment screening services market growth in the UK. However, UK-based companies are expected to receive a larger number of job applications in the coming years owing to higher wages offered by employers. Further, with the normalization of economic activities after the pandemic, the country has experienced a rise in demand for human resources. Thus, an upsurge in employment favors the employment screening services market growth in the UK.

Europe Employment Screening Services Market Revenue and Forecast to 2030 (US$ Million)

Europe Employment Screening Services Strategic Insights

Strategic insights for the Europe Employment Screening Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Employment Screening Services Report Scope

Europe Employment Screening Services Regional Insights

The geographic scope of the Europe Employment Screening Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Employment Screening Services Market Segmentation

The Europe employment screening services market is segmented based on services, application, organization size, and country. Based on services, the Europe employment screening services market is categorized into background check, verification, and medical & drug testing. The verification segment held the largest market share in 2022.

By application, the Europe employment screening services market is segmented into IT and Telecom, BFSI, government agencies, travel and hospitality, manufacturing, retail, healthcare, and others. The IT and Telecom segment held the largest market share in 2022.

In terms of organization size, the Europe employment screening services market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger market share in 2022.

Based on country, the Europe employment screening services market is segmented into the UK, France, Italy, Germany, Spain, and the Rest of Europe. The UK dominated the Europe employment screening services market share in 2022.

Accurate Background, Capita Plc, DataFlow LLC, First Advantage Corp, HireRight LLC, Sterling Check Corp, Pinkerton Consulting & Investigations Inc, and Triton Inc are some of the leading players operating in the Europe employment screening services market.