A recent report by HireRight, 2019 India Employment Screening Benchmark Report reveals that finding, developing and retaining talent is a top business challenge. The report highlights that 4 in 5 Indian employers conduct checks on all job candidates, with 75 percent reporting that screening helps assure better quality of candidates.
Fewer companies anticipate any form of decline in their workforce this year compared to the last report (11 percent in 2019 versus 13 percent in 2018). However, there remains concern over talent acquisition - over a third of respondents in India (33 percent) deemed finding, developing and retaining talent as one of their top 3 business challenges of 2019; ahead of growing revenues (19 percent) and maintaining a competitive edge (18 percent).
Marcellus Solomon, General Manager, India at HireRight, shares, “With India aspiring to become a USD 5 Tn economy by 2025, we can expect heavy investments in infrastructure, digitalization and entrepreneurship – but to power these ambitions, India needs good talent.
India is one of the most consistent screening nations globally:
Almost 4 in 5 (79 percent) of organizations in India conduct checks on all job candidates, with a massive 75 percent of respondents reporting that screening helps them assure better quality candidates and half (51 percent) saying it ensured more consistent safety and security.
Compared to last year, there has been a 19 percent increase in both employments (88 percent) and education checks (83 percent). These differed greatly from global trends which prioritize criminal (88 percent) and identity checks (63 percent) above all else.
Potential risks Indian organizations face
However, the report also identified big drops in credit (-36 percent) and professional license (-9 percent) checks – potentially exposing organizations to significant risks. The number of criminal (37 percent) and identity checks (26 percent) conducted in India for international candidates was significantly lower than the global numbers of 56 percent and 34 percent respectively.
In addition, there also seems to be little incentive to add more checks, with half (49 percent) of Indian organizations surveyed having no plans to introduce new screenings in the coming months.
“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 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.”