Despite government figures suggesting that unemployment is at a 45-year high*, more than 4 in 5 (84%) Indian organizations are expecting a hiring surge in the coming 12 months; according to the 2019 India Employment Screening Benchmark Report by HireRight, a leading provider of global employment background checks.
Fewer companies anticipate any form of decline in their workforce this year compared to the last report (11% in 2019 versus 13% in 2018). However, there remains concern over talent acquisition – over a third of respondents in India (33%) deemed finding, developing and retaining talent as one of their top 3 business challenges of 2019; ahead of growing revenues (19%) and maintaining a competitive edge (18%).
India is one of the most consistent screening nations globally
Almost 4 in 5 (79%) of organizations in India conduct checks on all job candidates, with a massive 75% of respondents reporting that screening helps them assure better quality candidates and a half (51%) saying it ensured more consistent safety and security.
Compared to last year, there has been a 19% increase in both employment (88%) and education checks (83%). These differed greatly from global trends which prioritize criminal (88%) and identity checks (63%) above all else.
Potential risks Indian organizations face
However, the report also identified big drops in credit (-36%) and professional license (-9%) checks – potentially exposing organizations to significant risks. The number of criminal (37%) and identity checks (26%) conducted in India for international candidates was significantly lower than the global numbers of 56% and 34% respectively.
In addition, there also seems to be little incentive to add more checks, with half (49%) of Indian organizations surveyed having no plans to introduce new screenings in the coming months.
Marcellus Solomon, General Manager, India at HireRight, comments “With India aspiring to become a $5 trillion economy by 2025, we can expect heavy investments in infrastructure, digitalization, and entrepreneurship – but to power these ambitions, India needs good talent.”
He also added “We need to ensure India is able to attract, retain and nurture the best talent; all while standing on the global stage. One of the best ways to assure the quality of hires, improve company reputation and ensure all candidates are treated fairly in the recruitment process is to leverage a robust and consistent background screening process.”
Ref- *According to figures released by the Ministry of Statistics and Program Implementation (MoSPI) in May 2019