BFSI Sector Shows Discrepancy Trends in Q3-23.
Bengaluru, December 21, 2023: First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, announces the publication of its Q3 2023 India Employment Screening Trends Report. The 32-page document is a compilation of anonymized data and analytics from the Company’s background screenings performed for its customers in the Indian market during the third quarter of 2023.
In Q3’23, Industries such as BFSI, BPO, Healthcare and Pharma and Retail sectors had discrepancies percentages that were much higher than the overall average of 10.21 percent.
Other notable findings include:
· For Employment Verifications – IT, FMCG, Telecom and Staffing sectors have shown higher inclination towards alternate modes of verification.
· Discrepancy in background screening was majorly at Associate Level.
· In Q3’23, the most frequent first names screened were Rahul, Abhishek, Amit, Shubham and Deepak, while the most common last names screened were Kumar, Singh, Patil and Yadav.
“As this industry evolves, embracing digital solutions becomes pivotal for businesses safeguarding their greatest asset—their workforce. This paradigm shift leverages technology to foster informed hiring decisions, assisting in mitigating risk in work environments, and helping to chart the path towards a sustainable future. – said Vishnuvardhan Kundhu, Senior Vice President Operations.
Further he added, First Advantage spearheads this transformational journey, embracing digitalization, analytics, and seamless integrations, offering a fusion of technology and human ingenuity to “hire smarter and onboard faster.”
