The increasing demand of solutions owing to increase in the large and medium enterprises is projected to magnify growth in the global Pre-employment Screening Software Market
The global Pre-employment Screening Software market worth US $ 11.82 Bn by 2029, growing at a CAGR of 9.2%
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global Pre-employment Screening Software chip market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global Pre-employment Screening Software market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, global Pre-employment Screening Software market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global Pre-employment Screening Software market.
Pre-employment Screening Software for cloud-based segment to Sustain the Highest Revenues, Followed by heavy duty vehicle
The direct software solutions are appealing to large organizations, which have the capabilities of hosting these systems on their own, on a large scale. Enhanced security and control over data drive the demand for cloud based system. In addition, cloud-based system can be easily integrated with internet and other resources. Owing to these benefits Pre-employment Screening Software is projected to witness a significant growth over the forecast period. Furthermore, the web-based segment is expected to grow at the substantial CAGR over the forecast period.
Large enterprises Pre-employment Screening Software application Segment to be the Most Lucrative
Rising demand to handle and monitor larger employers data is expected to boost the need for application monitoring solution in large enterprises. Moreover, the growing adoption of advanced technologies such as big data, IoT devices is anticipated to bolster the market growth. he Large Enterprises component is witnessing the highest market share with strong market growth during the forecast period in the global market. The SMEs is estimated to grow at significant CAGR during the forecast period.
North America to Sweep the Largest Revenue Streams Followed by Asia Pacific
North America is the largest contributor to this market, followed by Asia Pacific. In North America, countries like U.S. and Canada are increasingly adopting Pre-employment Screening Software systems. The rising number of technological advancement and growing the adoption of Pre-employment Screening Software is contributing to regional growth.
Further, the growing need for reduced downtime in IT infrastructure, which in turn is favoring rampant expansion of the global Pre-employment Screening Software market across regions such as Europe and Asia Pacific.
The high demand due to user-friendly interface and flexibility is expected to offer new opportunities in the global Pre-employment Screening Software market
Pre-employment screening or testing software is utilized by many companies to test the candidates for a specific job role. With the help of this software, companies can check the applicants on various different parameters. Since this software saves considerable amount of time and money and helps in getting the best available candidates, demand for pre-employment testing software is expected to rise considerably during the forecast period. Pre-employment screening consists of a process of investigating the credentials of potential future employees in order to ensure hiring the right people for the right jobs. The pre-employment screening program includes a range of verifications to perform for final job candidates.
The adoption of pre-employment testing software in small and medium businesses and large businesses, the introduction of artificial intelligence and data analytics, and the prevalence of technical knowledge and skill sets are expected to propel the pre-employment testing software market forward in the forecast period. Increasing automation in human resource management, on the other hand, will enhance different prospects, resulting in the rise of the pre-employment testing software market over the forecast period. Companies and HR departments utilise pre-employment screening software to analyse prospects in order to make educated hiring decisions. Organizations can use these solutions to screen individuals for personality, aptitude, skills, and other factors. Industry-specific testing is available in some pre-employment testing software for positions such as sales managers, accountants, and technical writers. Premade and configurable tests that may be viewed online or onsite and provide real-time test results and reports are included in some software packages.
Despite a minor growth dip owing to Covid-19 implications, the global Pre-employment Screening Software market is expected to recoup growth and register a healthy CAGR over the forecast period.
Pre-employment screening strengthens your organization’s ethics as the screening is part of your insider threat management to enforce your ethics and integrity policies and guidelines. Pre-employment screening will help you enhance a positive ethical culture within your organization, where employees share your organization’s norms and values. A positive ethical climate will contribute to employee motivation, is self-enforcing and results into a responsible culture in your organization.
Employers who utilize pre-employment screening as a part of their recruitment process realize a number of important benefits. One of those benefits is a general improvement in the quality of applicants which ultimately leads to better workers, higher productivity, increased quality, and lower employee turnover. Simply announcing to all applicants the intention to conduct background checks will discourage some candidates from applying. At a minimum, candidates will be more likely to represent themselves honestly. Statistically 51% of all resumes contain inaccuracies in employment, job performance and educational achievement. Equally important, the announcement will encourage some high risk candidates with criminal backgrounds to eliminate themselves, which saves time and money in the recruitment process. In addition the screening process reveals important information about a candidate’s prior behavior which can help an employer assess potential risk posed by the candidate. Prior behaviors can include substance abuse, credit history and bankruptcy, driving records, and criminal convictions, and civil litigation.
The major players of the global Pre-employment Screening Software market are Criteria Corp, Berke, PAIRIN, Wonderlic, INTELIFI, GoodHire, eSkill, The Hire Talent, Plum, HR Avatar, and Stang Decision Systems.
The Pre-employment Screening Software market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.
Latest Innovations in the Global Pre-employment Screening Software Market: a Snapshot
- In March 2020, Criteria Corp, a market-leading SaaS-based employment analytics platform, announced today that it has acquired Australia-based Revelian, a leader in the field of emotional intelligence and game-based assessments.
Pre-employment Screening Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US $ 11.82 Bn|
|Growth Rate||CAGR of 9.2% during 2021-2029|
|Segment Covered||by Service, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Accurate Background, LLC, A-Check America, Inc, AuthBridge, Capita PLC, DataFlow Group, First Advantage, GoodHire, HireRight LLC, Insperity, Inc, Pinkerton Corporate Risk Management, Sterling Talent Solutions, Triton, Verity Screening Solutions LLC, ADP LLC., CareerBuilder LLC, Paychex, Inc, First Advantage, REED, HireRight LLC, Capita PLC, Paycor, Inc, and Experian|
Key Segments of the Global Pre-employment Screening Software Market
Type Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Large Enterprises
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa