According to a report published by Allied Market Research, the global employment screening services market is projected to reach $7.64 billion by 2026!
A closer look reveals that the growth in the global employment screening services market is led by the criminal background checks segment. The report further confirms that criminal background checks will dominate the market in the forecasted period.
Why is this so? Why has there been such a pronounced growth?
The Cost of a Bad Hire
One of the main reasons is that the cost of a bad hire can be significant for a company. We’re not just talking about the financial and legal costs but also the impact on the organization’s reputation.
Due to COVID19, companies are already dealing with multiple challenges when it comes to staffing and evolving job roles. This is why many have adopted a cautious approach to hiring new employees.
Social and Legal Implications
It is important to know who you are hiring.
A criminal background check can disclose the facts that are important to consider when making the hiring decision. It can also help you avoid potential issues and legal liabilities down the road.
This is particularly true if you’re operating in an industry where the chances of criminal activities are higher – such as the financial and information technology sectors. A criminal background check can let you know if a particular individual has been involved in fraud, theft, or embezzlement.
Additionally, a criminal background check can help you protect your employees as well. For instance, there are some characteristics and behaviours that can negatively impact those around a person – leading to incidents of sexual harassment and workplace violence.
Background Checks Are Easier Than Ever
Another reason is that conducting criminal background checks isn’t as tedious as it used to be. For instance, now you can do a criminal record check online – within a matter of minutes!
You can also run additional pre-employment screening checks to strengthen your hiring process.
At Triton Canada, we offer employment history verifications, educational checks, driver’s abstracts, credit checks, reference checks, and more. Plus, we offer industry-leading turnaround times so you can have all of these checks done within one-to-two business days.
Call us on 1-844-874-8667 or visit www.tritoncanada.ca for a free quote.