First Advantage Releases 2022 India Employment Screening Trends Report

MUMBAI:
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 2021.

In Q4-21, sectors such as Banking, Financial Services, Engineering, Fast-moving Consumer Goods (FMCG), Healthcare, Manufacturing, Pharma, and Telecommunications have witnessed an uptick in major discrepancies which are higher than the overall average of 8.5%.

Other notable findings include:
· The Telecommunications sector showed a high discrepancy percentage at 49% in Q4-21.
· The employment component has witnessed a higher inclination to alternate modes of verification in sectors like IT, Engineering, FMCG, Hospitality, and Retail as compared to the industry average of 14% in Q4-21.
· Out of every 100 employment checks verified in the Telecommunication sector, 19 were discrepant in Q4-21.

“Employee background checks are the pressing need to bring in superior talent with the right capabilities and legitimate credentials to mitigate potential risk in the workplace,” Amit Singh, Head of Commercial at First Advantage said.

Further, he continued, “Since businesses are pursuing a variety of expansion strategies, it has created a strong demand for skilled talent in the market. Organizations all around the globe have chosen digital transformations to increase the agility and speed of their processes.”