SINGAPORE & SYDNEY & HONG KONG & KUALA LUMPUR, Malaysia & MANILA, Philippines--(BUSINESS WIRE)--First Advantage, a Symphony Technology Group (STG) company and the leading global provider of screening analytics and identity solutions, today announced the release of the First Advantage 2016 Background Screening Trends Report for Asia Pacific.
The latest study by First Advantage reveals key macro and micro trends and also provides the insight for organizations to benchmark their current programs and fine-tune their existing screening practices.
The report is based on data drawn from employment background verifications and reference checks conducted by First Advantage in Asia Pacific. This trends report presents results covering Japan, Korea, China, Hong Kong, Malaysia, Philippines, Singapore, Australia and New Zealand.
All data were collected from a total of two million checks from January to December 2015. Highlighted discrepancy rates have been categorised into two groups: Overall discrepancy rates by country and by segment. The screening results represent the company's clients located in Asia Pacific. The report results are segmented under critical discrepancy types (employment, education, financial-related, Address, Database) and examines the discrepancy breakdown by state and by industry.
KEY FINDINGS FROM THE REPORT INCLUDE:
- The overall screening discrepancy of candidates in Asia Pacific totaled 17.3 per cent in 2015, a slight decrease from 2014’s 17.9 per cent. In 2013, this was pegged at 13.4 per cent.
- By segment, the percentage of discrepancies coming from the energy sector was the highest at 26.64%, followed by the financial sector at 19.29%. Both sectors saw significant increases in discrepancies over a three-year period.
- The Australia discrepancy rates continue to be the highest in the Asia Pacific region at 24.72 per cent followed by Hong Kong at 18.04 per cent. China and Japan/Korea discrepancy rates are the lowest in the region at 7.51 per cent and 9.16 per cent respectively.
- Employment discrepancy remains the highest check in three consecutive years. Candidates with errors in employment records registered 57.77 per cent of the overall major discrepancy rate in Asia Pacific.
- Educational verification discrepancy rates saw a slight drop of 10 per cent in 2015.
- In 2015, from the overall discrepancy rate of 17 per cent, the most number of discrepant candidates by age was found to be the highest in the 26-to-30 year old age bracket. Candidates in this age bracket registered 29 per cent discrepancy.
“In a fast growing economy like Asia Pacific, with inherent cultural differences and diversity, finding candidates with desired skillsets and integrity becomes a challenge. To safeguard the organization from the repercussions a bad hire, employers are embracing stringent hiring and background screening programs,” said Erik Schmit, EVP and Managing Director, Asia Pacific at First Advantage. “The objective of this report is to assist the employers to understand the challenges and the most common employment discrepancies in the region. A detailed insight on the trends in the Asia Pacific region will help employers understand the need to screen their employees across levels,” he added.
First Advantage is the leading provider of background screening in the world and conducts around 54 million global background checks annually.
For a complimentary copy of the "First Advantage 2016 Background Screening Trends Report for Asia Pacific," please contact Wei Chong at Weichong.Chin@fadv.com.
About First Advantage
First Advantage provides comprehensive background screening, identity and information solutions that give employers and housing providers access to actionable information that results in faster, more accurate people decisions. With an advanced global technology platform and superior customer service delivered by experts who understand local markets, First Advantage helps customers around the world build fully scalable, configurable screening programs that meet their unique needs. Headquartered in Atlanta, Ga., First Advantage has offices throughout North America, Europe, Asia and the Middle East. More information about First Advantage can be accessed at www.fadv.